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Exchange-Traded Funds ("ETFs") are an excellent option for investors seeking low-cost, liquid, and diversified exposure to real estate. Closed-End Funds ("CEFs"), a fund structure that shares some similarities but also some critical differences from ETFs, can also make sense for certain investors who are seeking high income, access to leverage, active management, and are willing to pay a steep expense premium for it. In our ETF Spotlight series, we take a look under the hood of some of the most popular real estate ETFs and highlight the strengths and