Nuveen, an operating division of TIAA Global Asset Management, has launched the NuShares Short-Term REIT ETF, which is now trading on the Bats Exchange under the ticker NURE.
The fund seeks to track the investment results of the Dow Jones US Select Short-Term REIT Index.
The index is comprised of equity REITs traded on US exchanges that are classified as concentrating their holdings in apartment buildings, hotels, self-storage facilities or manufactured home properties; REITs investing in these properties typically have shorter lease durations than REITs investing in other properties.
“We are eager to follow the successful introduction of our ESG-focused ETFs with the launch of the NuShares Short-Term REIT ETF. As short-term REITS have historically outperformed the broad US listed REIT universe in times of rising interest rates, we are pleased to offer investors exposure that is unique to the ETF marketplace,” says Martin Kremenstein, managing director and head of exchange-traded funds at Nuveen.
