What this ETF is trying to do

The Long Pond Real Estate Select ETF (LPRE) is an exchange-traded fund that focuses on the real estate industry. While the specific strategy isn't detailed, its name and holdings suggest it invests in companies related to property and real estate.

What the numbers show

As of October 6, 2026, the current price of one share of LPRE is $27.16. An estimated price from roughly one year ago was $25.87.

When looking at how this ETF performed over the last year, it is important to look at two different numbers:

• Price Return: This measures only the change in the share price. The one-year price return was approximately 4.97%.

• Total Return: This includes both the share price change and any cash distributions paid out. The one-year total return was approximately 6.77%.

For the year-to-date (YTD) period, the price return was about 1.76%, while the YTD total return was about 2.93%. To visualize the price change, if you had invested $10,000 into this ETF one year ago based on the estimated starting price, your investment's share value would have grown by approximately $497.

Income and distribution explanation

Some investors look for ETFs that pay them cash, known as distributions. LPRE has a distribution yield of approximately 1.77%. This means the cash paid out is about 1.77% of the ETF's price.

It is important to remember that a distribution yield is not the same as total return. Also, these payments can be irregular. In the last 12 months, this ETF made three distributions, and the frequency is described as "irregular" or "less frequent."

NAV erosion explanation

"NAV erosion" refers to a decline in the actual value of the assets held inside the ETF. Some investors worry about this because if the underlying value drops, it can be hard for the share price to recover.

For LPRE, the erosion-risk score is 94, which is labeled as "Stable / sideways." The erosion severity is rated as "good," and there is no severe erosion-risk flag present. This suggests the fund's value has been relatively steady.

Pros

• Positive Returns: Both the share price and the total return have been positive over the last year.

• Stability: The erosion-risk score indicates a stable trend for the fund's value.

Cons

• Irregular Income: Distributions do not happen on a regular, predictable schedule.

• Lower Yield: The distribution yield of 1.77% may be considered low for investors seeking high levels of cash income.

Top Holdings

The following are some of the top holdings in this ETF (note that this is a partial list):

• Equity Lifestyle Properties Inc (7.92%)

• D.R. Horton Inc (7.87%)

• Hyatt Hotels Corp Class A (7.76%)

• Independence Realty Trust Inc (7.75%)

• UDR Inc (6.41%)

Beginner takeaway

When studying LPRE, remember the difference between price return and total return. The price return tells you how much the share price moved, while the total return shows your overall result including cash payments. Also, keep in mind that while distributions provide cash, they are not guaranteed to be frequent or consistent.