FREL — Fidelity MSCI Real Estate Index ETF

FREL Price Performance — Growth of $10,000

Value of a $10,000 investment in FREL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FREL Drawdown

The "underwater" chart: FREL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity MSCI Real Estate Index ETF is a Real Estate category fund issued by Fidelity Investments with $1.35 billion in assets under management. It holds a C grade and ranks 7 of 11 within its category, placing it at #325 of 458 tracked ETFs overall. The fund’s 0.084% expense ratio sits below the category median of 0.13%, while its 3.45% dividend yield matches the sector average. Top 10 holdings comprise 47.5% of assets, with Welltower Inc representing the largest single position at 9.1%.

The fund’s price of $28.15 sits at 39.1% of its 52-week range, reflecting a recent 1D gain of +0.04% and a 1W increase of +1.13%. Short-term momentum contrasts with a 3-month decline of -7.03%, though the 1-year return of +4.05% aligns exactly with the category median. Year-to-date performance stands at +7.52%, supported by a 3-year total return of +45.26%. The ETFValuer grade of C has remained unchanged across the last 35 tracked days, based on 3.0 years of available price history.

With a beta of 0.98, the fund’s movements closely track the broader market, accompanied by 13.91% annualized volatility labeled as Low. A Sharpe ratio of -0.07 indicates that risk-adjusted returns have been negative relative to the risk-free rate during the measured period. The maximum drawdown of -17.54% highlights the extent of peak-to-trough losses experienced by investors. Liquidity is supported by an average daily volume of 338,228 shares, ensuring reasonable trading activity for the asset.

AI-generated summary based on the data on this page.

FREL Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 47.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FREL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FREL

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FREL's top 10 — XLRE overlaps most, holding 10 of the same companies as FREL's top 10 (47.5% of FREL's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FREL Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 338K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $1.35B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FREL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FREL Performance History

How FREL Compares to Other Real Estate ETFs