Hoya Capital Real Estate

David Auerbach, the firm's Managing Director, oversees investment strategy and research. He founded Hoya Capital and authors much of the firm's published REIT analysis, making him the central voice behind both the index construction and ETF/SMA portfolio allocations. The firm has not publicly disclosed an independent investment committee beyond Auerbach.

The Hoya Capital Housing Index is a rules-based benchmark that tracks 100 US-listed equities with significant exposure to the US residential housing market. The index includes homebuilders, apartment REITs, single-family rental operators, manufactured housing REITs, and companies that generate revenue from residential housing services. Hoya uses this index as the starting universe for the Hoya Capital Housing ETF (HOMZ) and related strategies.

Hoya offers both. The flagship product is the Hoya Capital Housing ETF (ticker HOMZ), launched in 2019 and listed on NYSE Arca. The firm also manages REIT-focused separately managed accounts for institutional and high-net-worth allocators who want customized exposure beyond what the ETF wrapper provides (per SEC filings and public record).

Idea generation flows from the firm's own internal research team, which publishes the widely-read Hoya Capital weekly newsletter covering REIT sectors, sub-sector allocation trends, and individual company analysis. That same research pipeline feeds the Hoya Capital Housing Index and the portfolios the firm manages, making the research operation the primary sourcing engine for investment decisions.

Hoya concentrates on residential housing exposure across multiple sub-sectors: multifamily apartments, single-family rentals, manufactured housing, homebuilders, and residential mortgage REITs. The firm also invests across broader REIT sectors — including industrial, healthcare, retail, and office — when running diversified REIT strategies that extend beyond the residential thesis.