REIT ETFs allow you to own an index of REITs without having to study each one separately; the index manager does that for you. Currently, there are four listed on the Singapore exchange:
Singapore REIT ETFs Comparison
| Lion-Phillip S-REIT ETF | NikkoAM-Straits Trading Asia Ex-Japan REIT ETF | Phillip SGX APAC Dividend Leaders REIT ETF | CSOP iEdge S-REIT Leaders Index ETF | |
|---|---|---|---|---|
| Stock Code | CLR | CFA (SG$) COI (US$) | BYI (US$) BYJ (SG$) | SRT (SG$) SRU (US$) |
| Underlying Index | Morningstar® Singapore REIT Yield Focus Index | FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index | iEdge APAC Ex-Japan Dividend Leaders REIT Index | CSOP iEdge S-REIT Leaders Index |
| Dividend yield | 5.6% (as of Jan 24) | 5.71% (as of Jan 24) | 4.13% (as of Jan 24) | 4.94% (as of Jan 24) |
| Expense Ratio (p.a.) [aka fees] | 0.6% | 0.55% | 1.13% | 0.6% |
| Performance (2023) | 0.56% | -6.59% | -0.85% | -0.71% |
| Tracking Error | 0.5% | 0.24% (3 yr annualised) | 1.87% (1 yr rolling) | 0.28% (1 yr rolling) |
| Fund size (AUM) | SGD 291.4M (as of Jan 24) | SGD 393.77M (as of Jan 24) | USD 10.14M (as of Jan 24) | SGD71.6M (as of Jan 24) |
| Dividend frequency | Semi-annually | Quarterly | Semi-annually | Semi-annually |
| Inception Date | 30 October 2017 | 29 March 2017 | 20 Oct 2016 | 18 Nov 2021 |
| Lot Size | 100 Units / lot | 10 Units / lot | 100 Units / lot | 10 Units / lot |
| No. of holdings | 22 | 41 | 30 | 21 |
| Top 5 holdings | CapitaLand Ascendas REIT: 9.1% Frasers Logistics & Industrial Trust: 8.7% Mapletree Logistics Trust: 8.7% CapitaLand Integrated Commercial Trust: 8.6% Keppel DC REIT: 8.5% | CapitaLand Ascendas REIT: 10.4% Link REIT: 10% CapitaLand Integrated Commercial Trust: 9.8% Mapletree Logistics Trust: 7.3% Mapletree Industrial Trust: 6.2% | Link REIT: 10.45% Scentre Group: 8.63% CapitaLand Integrated Commercial Trust: 6.34% Stockland: 5.86% Dexus: 5.77% | CapitaLand Ascendas REIT: 10.55% CapitaLand Integrated Commercial Trust: 10.39% Mapletree Logistics Trust: 9.98% Mapletree Industrial Trust: 8.81% Mapletree Commercial Trust: 8.13% |
| Geography Coverage | 100% Singapore (REITs are listed in SG but may own overseas properties) | Singapore: 73.6% Hong Kong: 13.5% India: 6.8% South Korea: 2.7% Malaysia: 1% Philippines: 0.7% Others: 0.7% | Australia: 52.51% Hong Kong: 11.48% Singapore: 34.8% | Singapore: 64% Australia: 9% United States: 5% China: 4% Hong Kong: 4% Japan: 3% Others: 9% (data from prospectus) |
| REIT Industry Allocation | Industrial: 36.51% Retail: 31.06% Specialized: 8.84% Diversified: 7.85% Health Care: 6.16% Office: 4.68% Hotel & Resort: 3.49% | Retail: 37.5% Industrial: 32.3% Office: 12% Diversified: 7.9% Hotel & Resort: 4.9% Data Center: 4% Others: 2.2% | Diversified: 30.94% Retail: 39.58% Industrial: 12.9% Office: 11.43% Others: 3.96% | Industrial: 42.5% Office: 19.7% Retail: 18.4% Data Centre: 7.5% Multi Asset: 6.9% Health Care: 2% Residential: 1.9% Hotel: 1.2% (data from prospectus) |
Why invest in S-REIT ETFs?
Singapore Real Estate Investment Trusts (S-REITs) are listed companies that pool investors’ capital to invest, purchase and operate real estate properties. To learn more about S-REITs, read our Singapore REITs guide here.
There are many REITs available for different types of properties – from office buildings to industrial space and even commercial properties. REITs trade on stock exchanges and you can buy them just like any other stock.
At the time of this writing, there are 42 REITs listed on the SGX. That’s quite a number to choose from!
REIT ETFs track REITs Indices and are perfect for lazy (but smart) investors who prefer to invest in a basket of REITs, receive dividend payouts and watch their investments grow, without having to put in much effort.
The Lion Phillip S-REIT ETF focuses solely on Singapore listed REITs. However, there are three REIT ETFs listed on the Mainboard of the Singapore Exchange.
To give you a complete overview and help you decide on the best Singapore REIT ETF for your portfolio, we will compare each one in this article. We will also take a look at their holdings, performance, dividend yields and fees.
Singapore REIT ETFs: What options do I have?
According to REITAS, there are 4 REIT ETFs listed on the Mainboard of the Singapore Exchange. Each one offers a different investment proposition.
1) Lion-Phillip S-REIT ETF
Lion-Phillip S-REIT ETF is a Singapore-listed REIT focused ETF that tracks the Morningstar® Singapore REIT Yield Focus Index, which is designed to screen for high yielding REITs with superior quality and financial health.
Hence, if you want an ETF that gives you exposure to the best REITs in Singapore, this option is for you.
Key information of Lion-Phillip S-REIT ETF:
- Stock Code: CLR
- Dividend Yield: 5.6%
- Performance since inception: -11.76%
- Performance (2023): 0.56%
- Tracking error: 0.5%
- Expense Ratio: 0.6%
At the point of this writing, the Lion-Phillip S-REIT ETF has 25 holdings and these are the top 10:
Top 10 Holdings in Lion-Phillip S-REIT ETF
| REIT | Weightage |
|---|---|
| CapitaLand Ascendas REIT (A17U) | 9.1% |
| Frasers Logistics & Industrial Trust (BUOU) | 8.7% |
| Mapletree Logistics Trust (M44U) | 8.7% |
| CapitaLand Integrated Commercial Trust (C38U) | 8.6% |
| Keppel DC REIT (AJBU) | 8.5% |
| Mapletree Industrial Trust (ME8U) | 8.2% |
| Frasers Centrepoint Trust (J69U) | 8.1% |
| Suntec REIT (T82U) | 7.2% |
| Mapletree Pan Asia Commercial Trust (N2IU) | 5.5% |
| Parkway Life REIT (C2PU) | 5.5% |
Lion-Phillip’s official website doesn’t provide much information but you can still get the latest updates via their official filings with SGX. You can look through Lion-Phillip S-REIT ETF’s latest annual report for up-to-date yields and performance figures.
2) NikkoAM-Straits Trading Asia Ex-Japan REIT ETF
NikkoAM-Straits Trading Asia ex-Japan REIT ETF gives investors exposure to high yielding REITs in Asia by tracking the FTSE EPRA Nareit Asia ex-Japan REITs 10% Capped Index.
If you want exposure to high yielding REITs beyond those listed in Singapore, this could be the best choice for you.
Key information of NikkoAM Straits Trading Asia ex-Japan REIT ETF:
- Stock Code: CFA (SG$) and COI (US$)
- Dividend Yield: 5.71%
- Performance since inception: -16.67%
- Performance (2023): -6.59%
- Tracking error: 0.24%
- Expense Ratio: 0.55%
At the time of this writing, the NikkoAM Straits Trading Asia ex-Japan REIT ETF has 41 holdings and these are the top 10:
Top 10 Holdings in NikkoAM Straits Trading Asia ex-Japan REIT ETF
| REIT | Weight | Country (where REIT is listed) |
|---|---|---|
| CapitaLand Ascendas REIT (A17U) | 10.4% | Singapore |
| Link REIT (0823.HK) | 10% | Hong Kong |
| CapitaLand Integrated Commercial Trust (C38U) | 9.8% | Singapore |
| Mapletree Logistics Trust (M44U) | 7.3% | Singapore |
| Mapletree Industrial Trust (ME8U) | 6.2% | Singapore |
| Frasers Logistics & Commercial Trust (BUOU) | 4.3% | Singapore |
| Embassy Office Parks REIT (EMBASSY) | 4.3% | India |
| Mapletree Pan Asia Commercial Trust (N2IU) | 4.3% | Singapore |
| Suntec REIT (T82U) | 3.3% | Singapore |
| Frasers Centrepoint Trust (J69U) | 3.71% | Singapore |
This list is accurate as of Jan 2024, so the information may vary slightly depending on when you’re reading this. You should check the latest information on NikkoAM’s website here, which is updated daily.
3) Phillip SGX APAC Dividend Leaders REIT ETF
Phillip SGX APAC Dividend Leaders REIT ETF aims to provide investors with “high income and moderate long-term capital appreciation” by tracking the iEdge APAC Ex-Japan Dividend Leaders REIT Index. This index weighs REITs based on their dividend yield.
If you’re looking for a REIT ETF that aims to pay you the most, this could be the right option for you. Take note also that it offers the most diverse geographic distribution.
Key information of Phillip SGX APAC Dividend Leaders REIT ETF:
- Stock Code: BYI (US$) and BYJ (SG$)
- Dividend Yield: 4.13%
- Performance since inception: -11.4%
- Performance (2023): -0.85%
- Tracking error: 1.87%
- Expense Ratio: 1.13%
Top 10 Holdings in Phillip SGX APAC Dividend Leaders REIT ETF
| REIT | Weight | Country (where REIT is listed) |
|---|---|---|
| Link REIT (0823.HK) | 10.45% | Hong Kong |
| Scentre Group (SCG) | 8.63% | Australia |
| CapitaLand Integrated Commercial Trust (C38U) | 6.34% | Singapore |
| Stockland (SGP) | 5.86% | Australia |
| Dexus (DXS) | 5.77% | Australia |
| CapitaLand Ascendas REIT (A17U) | 5.38% | Singapore |
| Vicinity Centres (VCX) | 5.35% | Australia |
| Goodman Group (GMG) | 5.2% | Australia |
| The GPT Group (GPT) | 4.96% | Australia |
| Mirvac Group (MGR) | 4.11% | Australia |
Moreover, at the time of this writing, this ETF has the highest fee but this might change depending on how the economy shifts.
4) CSOP iEdge S-REIT Leaders Index ETF
As its name suggests, this REIT aims to replicate the performance of the iEdge S-REIT Leaders Index which tracks the performance of the most liquid S-REITs.
It is managed by CSOP assets and will be listed on the Singapore Exchange under the code SRT (SGD-denominated) and SRU (USD-denominated) on 18 November 2021 and will trade with a lot size of 10 units.
The iEdge S-REIT Leaders Index isn’t new, in fact it has been around since 2014. It is a market capitalisation weighted index that tracks the performance of the most liquid REITs in Singapore. It has delivered an annualised return of 9.92% in the past 5 years and a dividend yield (last 12 months) of 3.96%.
Key information of CSOP iEdge S-REIT Leaders Index ETF:
- Stock Code: SRT (SG$) and SRU (US$)
- Dividend Yield: 4.94%
- Performance since inception: -17.2%
- Performance (2023): -0.71%
- Expense Ratio: 0.6%
- Tracking Error: 0.28%
Top 10 Holdings in CSOP iEdge S-REIT Leaders Index ETF
| REIT | Weight | Country (where REIT is listed) |
|---|---|---|
| CapitaLand Ascendas REIT (A17U) | 10.55% | Singapore |
| CapitaLand Integrated Commercial Trust (C38U) | 10.39% | Singapore |
| Mapletree Logistics Trust (M44U) | 9.98% | Singapore |
| Mapletree Industrial Trust (ME8U) | 8.81% | Singapore |
| Mapletree Commercial Trust (N2IU) | 8.13% | Singapore |
| Fraser Logistics & Commercial Trust (BUOU) | 7.64% | Singapore |
| Keppel REIT (K71U) | 6.8% | Singapore |
| Keppel DC REIT (AJBU) | 6.73% | Singapore |
| Suntec REIT (T82U) | 6.2% | Singapore |
| Frasers Centrepoint Trust (J69U) | 5.71% | Singapore |
How can you buy Singapore REIT ETFs?
REIT ETFs are listed on stock exchanges and you can buy them through your stockbroker just like any other stock.
The following stockbrokers offer all Singapore REIT ETFs:
- Phillip Securities
- Maybank Kim Eng
- DBS Vickers
- UOB Kay Hian
- OCBC Securities
- FSMOne
- CIMB Securities
- Tiger Brokers
You can also refer to our SG brokerage account comparison here.
Who should invest in REIT ETFs?
REIT ETFs provide investors with exposure to a basket of REITs. These are suitable for you if you’re an investor who:
- don’t want to deal with the hassle of selecting, buying and managing a portfolio of individual REITs
- don’t want to deal with rights issues and AGMs or keep up with REITs decisions and business news
- believe in real estates’s potential for growth
- want to grow your money by getting exposure with REITs
- don’t mind market or index returns
However, if you think you can outperform the indices by picking your own REITs, then these are not for you. (although, you may want to hear how Chris Ng built his dividend portfolio.)
The following articles will help you learn how to pick individual REITs instead:
How did you get Dividend Yield: 6.2% for CSOP iEdge S-REIT Leaders Index ETF?
from marketwatch. as of 19 mar 23, it is at ~4.37%