Singapore REIT ETF Guide 2026: Lion-Phillip vs Nikko AM (CPF-OA Eligible)
If you want exposure to Singapore REITs without picking individual stocks, a Singapore REIT ETF gives you instant diversification across the entire S-REIT sector — and both main options are eligible for CPF Ordinary Account (CPF-OA) investment via CPFIS. This guide breaks down everything you need to know before investing.
What Is a Singapore REIT ETF?
A Singapore REIT ETF (Exchange-Traded Fund) is a basket of S-REITs listed on the SGX, packaged into a single tradeable security. Instead of buying CapitaLand Integrated Commercial Trust, Mapletree Pan Asia Commercial Trust, and Keppel DC REIT separately, one ETF purchase gives you weighted exposure across all of them.
Both Singapore REIT ETFs currently available track the FTSE ST Singapore REIT Index — a benchmark of the largest and most liquid S-REITs by market capitalisation. As of early 2026, the index contains approximately 20–25 REITs spanning retail, office, industrial, data centre, hospitality, and healthcare sectors.
Key advantages of a REIT ETF over individual REITs:
- Instant diversification across all major S-REIT sub-sectors
- Lower single-stock risk (no one REIT blowing up wrecks your portfolio)
- CPF-OA eligible — invest your CPF money beyond the 2.5% floor rate
- Low minimum investment — one unit is well under S$1.50
The Two Main S-REIT ETFs Listed on SGX
There are two REIT ETFs available to Singapore retail investors:
1. Lion-Phillip S-REIT ETF (SGX: CLR)
Launched in October 2017 by Lion Global Investors and Phillip Capital, CLR was Singapore’s first S-REIT ETF. It physically replicates the FTSE ST Singapore REIT Index and distributes dividends semi-annually. The annual Total Expense Ratio (TER) is approximately 0.60%.
2. Nikko AM Singapore REIT ETF (SGX: CFA)
Launched in March 2019 by Nikko Asset Management, CFA also tracks the FTSE ST Singapore REIT Index. It is slightly cheaper with a TER of approximately 0.50% and distributes dividends quarterly — making it the higher-frequency income option for investors who prefer quarterly cash flow.
Lion-Phillip vs Nikko AM: Full Comparison Table
| Feature | Lion-Phillip CLR | Nikko AM CFA |
|---|---|---|
| SGX Ticker | CLR | CFA |
| Manager | Lion Global Investors | Nikko Asset Management |
| Index Tracked | FTSE ST Singapore REIT | FTSE ST Singapore REIT |
| TER (Expense Ratio) | ~0.60% p.a. | ~0.50% p.a. |
| Dividend Frequency | Semi-annual | Quarterly |
| Approx. Distribution Yield | ~5.5–6.5% | ~5.5–6.5% |
| CPF-OA Eligible | ✅ Yes (CPFIS) | ✅ Yes (CPFIS) |
| SRS Eligible | ✅ Yes | ✅ Yes |
| Launch Year | 2017 | 2019 |
Data as of Q1 2026. Yields vary with market conditions. Always verify on the fund manager’s website.
Can You Use CPF-OA to Buy Singapore REIT ETFs?
Yes — both CLR and CFA are on the CPF Investment Scheme (CPFIS) approved list. This means you can use your CPF Ordinary Account savings to purchase either ETF, provided you meet the basic CPFIS eligibility conditions:
- You must have more than S$20,000 in your CPF-OA (only funds above this threshold can be invested)
- You must be at least 18 years old and not an undischarged bankrupt
- You need a CPFIS-linked brokerage account (FSMOne, DBS Vickers, POEMS, etc.)
Using CPF-OA to invest in REIT ETFs is one of the most popular CPF investment strategies in Singapore — because it lets you potentially earn 5.5–6.5% distribution yield vs the CPF-OA’s guaranteed 2.5%. However, capital losses are possible, so only invest CPF savings you can afford to keep invested for the long term.
For a deeper dive on using CPF-OA for investing, see our CPF Investment Strategy guide.
Where to Buy Singapore REIT ETFs
You can buy both CLR and CFA through any SGX-connected brokerage. Here are the most popular platforms among Singapore retail investors:
| Platform | Cash | CPF-OA | SRS | Notes |
|---|---|---|---|---|
| FSMOne | ✅ | ✅ | ✅ | S$10 min commission, ETF regular savings plan available |
| Endowus | ✅ | ✅ | ✅ | Fund-based access; 0.25–0.60% platform fee |
| Syfe | ✅ | ❌ | ❌ | Trade portfolio, S$1 min commission on SGX ETFs |
| POEMS / DBS Vickers | ✅ | ✅ | ✅ | Traditional brokerages; higher commissions |
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Which Singapore REIT ETF Should You Choose?
Since both track the same index, the differences are marginal — but here’s a practical decision guide:
- Choose Nikko AM CFA if: you want lower fees (0.50% vs 0.60%) and prefer quarterly dividends for regular income flow.
- Choose Lion-Phillip CLR if: you prefer the longer track record (listed 2017 vs 2019) or your brokerage has better liquidity/pricing for CLR.
- Either works for CPF-OA — both are CPFIS-approved. Choose based on your platform’s commission structure.
For most Singaporean investors, the 0.10% expense ratio difference is negligible at small portfolio sizes. Focus instead on your platform fees and whether you want monthly/quarterly income or semi-annual.
For detailed individual REIT analysis, see our Best S-REITs Singapore 2026 guide — useful for building around your ETF core with individual high-yield REITs.