Colterpoint is the index provider and sponsor to The Colterpoint Net Lease Real Estate ETF (NYSE: NETL).
Who We Are
Founded in 2018 and headquartered in Phoenix, Arizona, Colterpoint (formerly “Fundamental Income”) creates and manages investment strategies rooted in solid, understandable fundamentals focused on generating sustainable income with predictable growth.
Colterpoint is the index provider and sponsor to The Colterpoint Net Lease Real Estate ETF (NYSE: NETL) which aims to track The Colterpoint Net Lease Real Estate Index (NETLXT), calculated by Nasdaq, the first and only public index and ETF to define and track the publicly traded Net Lease REIT sector.
The firm’s principals are proven leaders and innovators within the Net Lease REIT community and have extensive experience in Net Lease Real Estate, capital markets and credit opportunities with over $20 billion of transaction experience.
Income Secured by Corporate Real Estate
Corporations own ~$12+ trillion of real estate, presenting a tremendous opportunity for institutional real estate investors over the next 10 years; properties we see and use as part of our daily lives.
Convenience Stores
E-Commerce
Restaurants
Grocery Stores
Net Lease Real Estate is all around us, and we use it every day.
Distribution
Gaming and Leisure
Fitness Clubs
Healthcare
Attractive Risk-Adjusted Returns
Net lease investments offer growing, long-term cash flow, favorable treatment in bankruptcy, asset ownership protection, and upside enhancing risk-return profile beyond traditional corporate credit
Triple-Net Lease
Tenant responsibility for property expenses results in contractual income similar to interest income.
Inflation Protection
Contractual annual rent escalators tied to CPI.
Lack of responsibility for property expenses insulates property owner from rising costs.
Lack of responsibility for property expenses insulates property owner from rising costs.
Long Duration with No
Prepayment Risk
10-25 Year initial lease terms.
Non-callable, non-cancellable.
Non-callable, non-cancellable.
Enhanced Downside Protection
Mission critical and profitable real estate provides for high likelihood of lease assumption in bankruptcy.
Ability to sell or re-lease the property to increase recovery.
Structural lease provisions including unity and corporate level financials and cross collateralization through master leases.
Ability to sell or re-lease the property to increase recovery.
Structural lease provisions including unity and corporate level financials and cross collateralization through master leases.
Upside Potential
Real estate value appreciation.
Lack of prepayment risk creates opportunity for tenant credit improvement.
Lack of prepayment risk creates opportunity for tenant credit improvement.
Leadership
The firm’s principals are proven leaders and innovators within the Net Lease REIT community and have extensive experience in Net Lease Real Estate, capital markets and credit opportunities with over $20 billion of transaction experience.
The Public Net Lease Sector Snapshop
The public net lease sector has grown from ~11 public companies totaling $18 billion in 2008 to ~22 companies totaling $244 billion of enterprise value today.
While the index methodology may be focused on the net lease sector, we have created an investment thesis built on contractual agreements, cash flow and mission critical assets that are integral to a company’s operations.
22
Companies
$265B
Enterprise Value
$169B
Market Capitalization
$17B
Annualized Revenue
36.1%
Debt/Enterprise Value
34,392
Properties
14.2 yrs
Weighted Avg.
Remaining Lease Terms
50
States
98.7%
Occupancy
5.62%
30-Day SEC Yield
(As of 09/30/25)
12.2x
Equity Cash Flow Multiple
5.5 yrs
Weighted Avg.
Debt Term Remaining
4.3%
Avg. Borrowing Rate
Index History
The net lease sector has proven to be historically resilient. From 2019 to 2025, the sector’s cumulative rental revenue has grown ~66% from $10.5 billion to $17.5 billion, while maintaining 96% or better occupancy.
Index Percentage Return Comparison: January 2008 - September 2025
~466%
NETLXT
Colterpoint Net Lease Real Estate Index
Compound Annual Growth %
- YTD: 9.2%
- 1 Year: -4.3%
- 3 Year: 7.8%
- 5 Year: 6.9%
- 10 Year: 9.7%
Jan 2008 – Sept 2025:
10.3%
~221%
RMZ
MSCI US
REIT I
Compound Annual Growth %
- YTD: 4.7%
- 1 Year: -1.7%
- 3 Year: 10.9%
- 5 Year: 9.3%
- 10 Year: 6.6%
Jan 2008 – Sept 2025:
6.8%
~146%
IBOXHY
iBoxx UISD Liquid High Yield Index
Compound Annual Growth %
- YTD: 7.2%
- 1 Year: 7.4%
- 3 Year: 10.1%
- 5 Year: 4.5%
- 10 Year: 5.1%
Jan 2008 – Sept 2025:
5.2%
~137%
SPBDLL
S&P/LSTA U.S.
Leveraged Loan 100
Compound Annual Growth %
- YTD: 5.3%
- 1 Year: 7.9%
- 3 Year: 10.4%
- 5 Year: 6.6%
- 10 Year: 5.4%
Jan 2008 – Sept 2025:
5.0%
~278%
AMZIX
Alerian MLP
Infastructure Index
Compound Annual Growth %
- YTD: 4.9%
- 1 Year: 10.7%
- 3 Year: 22%
- 5 Year: 32.2%
- 10 Year: 7.6%
Jan 2008 – Sept 2025:
7.8%
NETLXT Calendar Year Returns
2008
-27.5%
2009
41.8%
2010
42.8%
2011
1.7%
2012
29.8%
2013
8.9%
2014
14.7%
2015
-2.3%
2016
28.5%
2017
10.6%
2018
1.1%
2019
33.7%
2020
0.4%
2021
27.8%
2022
-16.0%
2023
4.0%
Note: Back-tested performance is not actual performance, but is hypothetical. The back-test calculations are based on the index’s current constituents. Prior to 2017 the back-test used an equal weighted methodology. The Index inception date was 12/21/2018. All data prior to the inception date is backtested. Index returns are quoted before fees and expenses.
About Colterpoint
Colterpoint focuses on results, with a specialty in democratizing the net lease sector. The company was founded to create investment strategies rooted solid fundamentals with the aim of providing investors sustainable income and predictable growth.
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