At a glance
NETL charges 0.6% a year, above the 0.3% average of the 6 funds most like it (the most expensive of 7). It has $49.1M in assets, the 6th largest of that group; it paid 5.54% of its price in distributions over the past 12 months, monthly. Over the past year it returned +1.1% with distributions reinvested (S&P 500: +11.5%), 5th of those 7 funds; over three years it returned +10.8% a year. At its worst it fell 51.5% in the 2020 crash (S&P 500: 33.7%) and 25.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 13 months and 40 months after the lows. Its ten largest positions make up 59.4% of the fund, out of 22 in all.
The short version
NETLease Corporate Real Estate ETF (NETL) is an index fund that holds about 22 U.S. real estate companies, mostly REITs. These companies rent out property on "net lease" terms, which means the tenant pays the taxes, insurance and upkeep. The fund pays monthly, and its trailing 12-month yield was 5.54% as of October 27, 2026. Its 0.60% expense ratio is double the 0.30% average of similar funds, and it covers a much narrower slice of real estate than a broad REIT fund.
Price history
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NETL +1.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| NETL official prospectus, to Dec 31, 2025 | — | +5.94% | — | +2.80% | — | +3.77% |
| NETL price data to Oct 27, 2026 | +4.4% | +1.1% | +10.8% | -0.6% | — | +4.1% |
- Over the year to Oct 27, 2026, NETL returned +1.1%, 5th of 7 among similar funds.
- Its 5-year annualized return was -0.6%.
- In the 2020 COVID crash it fell 51.5% and regained its old high 12.9 months after the low.
- Its worst full calendar year was 2022 (-16.0%); its best was 2021 (+27.4%).
- The deepest fall in its price history was 51.5% (Feb 21, 2020 to Mar 18, 2020), recovered by Apr 15, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +4.4% | — |
| 2025 | +6.1% | +5.94% |
| 2024 | -1.0% | -1.12% |
| 2023 | +3.0% | +3.36% |
| 2022 | -16.0% | -16.43% |
| 2021 | +27.4% | +26.91% |
| 2020 | -0.7% | -0.38% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 48.6% over that stretch · deepest drop along the way 51.5%, back to its old high 12.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.7% over that stretch · deepest drop along the way 25.5%, back to its old high 40.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9900 | |
| 2025 | $1.2300 | +2.5% |
| 2024 | $1.2000 | 0.0% |
| 2023 | $1.2000 | 0.0% |
| 2022 | $1.2000 | -6.3% |
| 2021 | $1.2800 | +23.1% |
| 2020 | $1.0400 |
What's inside
As of May 31, 2026, the fund held 22 securities; the ten largest made up 59.43% of assets.
| Holding | Weight | |
|---|---|---|
| WP Carey Inc | 8.08% | |
| NNN REIT Inc | 7.96% | |
| VICI Properties Inc | 7.57% | |
| Agree Realty Corp | 7.47% | |
| Realty Income Corp | 7.41% | |
| Innovative Industrial Properti | 4.44% | |
| Broadstone Net Lease Inc | 4.23% | |
| LXP Industrial Trust | 4.22% | |
| Global Net Lease Inc | 4.03% | |
| Getty Realty Corp | 4.02% | |
| Four Corners Property Trust In | 3.95% | |
| NETSTREIT Corp | 3.95% | |
| Postal Realty Trust Inc | 3.94% | |
| STAG Industrial Inc | 3.91% | |
| EPR Properties | 3.89% |
By country
United States 99.22%By asset type
Stocks 99.22%What changed recently
- Over the three months to May 31, 2026, investors added a net $2.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -7.25%, +7.47%, -0.49%.
How it works
NETL tracks the Colterpoint Net Lease Real Estate Index, which is owned by Colterpoint, LLC. The fund's June 24, 2026 prospectus uses its new name, Colterpoint Net Lease Real Estate ETF. To get into the index, a company must earn at least 85% of its earnings or revenue from net lease real estate. It also needs a market value above $200 million and must trade at least 10,000 shares a day on average. Most members are REITs (real estate investment trusts), which own property and pay out most of their taxable income as dividends.
Each stock is weighted by the market value of its shares available to the public, with caps. The five largest companies with many tenants are capped at 8% each, and the rest at 4%. Some companies get more than half their revenue from a single tenant. Those are limited to 3.5% each and 12.5% in total. The index resets these weights every quarter, on the third Friday of March, June, September and December. Between resets the weights can drift: on June 1, 2026, Agree Realty made up 8.5% of the index.
The fund usually buys every stock in the index in about the same proportions. Its turnover was 14%. As of May 31, 2026, its largest holdings were W. P. Carey (8.1%), NNN REIT (8.0%), VICI Properties (7.6%), Agree Realty (7.5%) and Realty Income (7.4%). The top 10 made up 59% of assets. The fund held no derivatives and is legally classed as non-diversified.
What it really costs
- NETL charges 0.6% a year, versus an average of 0.3% for the similar funds below (7th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $61 in the first year and $750 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| NETL | $61 | $192 | $335 | $750 |
In a retirement portfolio
NETL pays monthly from a concentrated group of net lease landlords, and its 5.54% trailing yield is the main reason to own it, though it is far riskier than a typical income fund.
NETL could act as an income sleeve. It paid $1.32 per share in the 12 months to October 27, 2026, a 5.54% trailing yield, in monthly payments. The trade-off is steep drops. In the 2020 COVID crash it fell 51.5% between February 21 and March 18, 2020, and took about 13 months to recover. In the 2022 bear market it fell 25.5%, and it did not get back to its earlier high until February 10, 2026, more than three years later. Its worst calendar year was 2022, at -16.43%. The fund launched in 2019, so it has no record from 2008. Anyone forced to sell shares in a slump could have locked in large losses. It costs 0.60% a year, or $61 in the first year on $10,000 under the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income from landlords such as Realty Income, Agree Realty and NNN REIT. The trailing yield was 5.54% as of October 27, 2026.
- Holders of a broad REIT fund who want an extra tilt toward net lease landlords, whose tenants pay taxes, insurance and upkeep.
- Investors who can hold a concentrated 22-stock fund through deep drops, such as its 51.5% fall in early 2020.
Look elsewhere if
- Cost-conscious investors: NETL's 0.60% expense ratio compares with 0.08% for iShares Core U.S. REIT ETF (USRT) and 0.11% for BBRE.
- Investors who want broad real estate exposure: NETL holds just 22 companies, and the top 10 made up 59% of assets as of May 31, 2026.
- Anyone who may need to sell in a downturn: after the 2022 drop, the fund took more than 40 months to regain its earlier high.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| NETL this fund | — | 0.6% | $49.1M | +1.1% | +10.8% |
| RDOG ALPS REIT Dividend Dogs ETF | 30% | 0.35% | $11.1M | +12.8% | +14.3% |
| SRET Global X SuperDividend REIT ETF | 19% | 0.58% | $233.0M | -1.0% | +12.2% |
| RIET Hoya Capital High Dividend Yield ETF | 18% | 0.5% | $109.1M | -2.1% | +9.4% |
| USRT iShares Core U.S. REIT ETF | 13% | 0.08% | $4.66B | +8.5% | +15.9% |
| BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 13% | 0.11% | $1.26B | +8.1% | +15.4% |
| DFAR Dimensional US Real Estate ETF | 13% | 0.19% | $1.78B | +7.6% | +14.0% |
Questions investors ask
Does NETL pay monthly dividends?
Yes. NETL pays distributions every month. It paid $1.32 per share over the 12 months to October 27, 2026, a trailing yield of 5.54%. The money comes from the dividends of the REITs it owns, so payments can rise or fall as those companies change their payouts. REIT dividends generally don't qualify for the lower tax rate on qualified dividends, which matters if you hold the fund in a taxable account.
What is a net lease REIT?
A net lease REIT is a company that owns property and rents it out on terms where the tenant pays all or part of the taxes, insurance and maintenance on top of rent. That can make the landlord's income steadier, but it relies heavily on tenants staying healthy. NETL holds companies that earn at least 85% of their revenue or earnings from this kind of business, including W. P. Carey, NNN REIT and VICI Properties.
What's the difference between NETL and RDOG?
Of the similar funds, ALPS REIT Dividend Dogs ETF (RDOG) has the most holdings in common with NETL, at 30% overlap. NETL focuses only on net lease landlords. RDOG costs less, at 0.35% a year versus 0.60%. As of October 27, 2026, RDOG returned 12.8% over one year and 14.3% a year over three years. NETL returned 1.1% and 10.8% over the same periods. Both are small funds.
Is NETL good for retirement income?
It can provide monthly income, but with large swings. The yield was 5.54% as of October 27, 2026. Under SEC-standard reporting, it returned 2.80% a year over five years and 3.77% a year since launch, as of December 31, 2025. It fell 51.5% in early 2020 and took more than 40 months to recover from its 2022 drop. Its narrow focus means it may work better alongside broader holdings than on its own.
How much does NETL cost to own?
NETL's expense ratio is 0.60% a year, according to its June 24, 2026 prospectus. Under the SEC's standard example ($10,000 invested, a 5% yearly return, shares sold at the end), costs come to $61 after one year, $192 after three years, $335 after five years and $750 after ten years. That makes it the most expensive of seven comparable funds, whose average is 0.30%. iShares Core U.S. REIT ETF charges 0.08%.