Hold off on this ETF

Article Excerpt

ISHARES S&P/TSX REIT INDEX ETF, $15.02, is a hold. The ETF (Toronto symbol XRE; buy or sell through brokers; ca.ishares.com) lets investors tap all 16 Canadian real estate investment trusts in the S&P/TSX REIT Index. Investors pay an MER of 0.61%, and the fund gives you a 5.5% yield. The ETF’s top holdings are Canadian Apart. REIT (14.8%), RioCan REIT (12.1%), Granite REIT (9.2%), Choice Properties REIT (7.8%), First Capital Reality REIT (7.7%), Dream Industrial (6.9%), SmartCentres REIT (6.9%), Boardwalk REIT (5.6%), H&R REIT (5.4%) and Allied Properties REIT (4.8%). Beyond those top holdings, investors also have exposure to Killam REIT (4.2%), InterRent (3.2%), Crombie REIT (3.2%), Primaris REIT (3.2%), CT REIT (2.%), and Northwest Healthcare REIT (2.1%). We like some of the 16 REITs this ETF holds, but there are others we don’t currrently view as buys. iShares S&P/TSX REIT is a hold. hold…