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 (FREL) is a Real Estate category fund managed by Fidelity Investments with $1.45 billion in assets under management. Currently trading at $30.60, the fund holds an overall rank of #263 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 59.3 out of 100. Investors can access this fund with an expense ratio of 0.084% while receiving a dividend yield of 3.29%. The fund is one of 11 ETFs tracked in the Real Estate category, indicating a competitive landscape for capital allocation within this sector. The combination of a mid-tier rank and a moderate grade suggests the fund occupies a middle position relative to the broader universe of available options. Its asset size of $1.45 billion reflects a significant level of investor adoption compared to smaller peers in the same category.

Over the most recent trading day, the fund posted a return of -0.20%, followed by a weekly gain of +1.71% and a monthly increase of +2.60%. The performance trajectory shows acceleration over the longer term, with the three-month return reaching +6.46% and the six-month return climbing to +13.45%. Year-to-date gains stand at +15.94%, while the one-year return is recorded at +15.59%, indicating a slight deceleration in the most recent annual period compared to the start of the year. The three-year return totals +35.43%, demonstrating sustained growth over the multi-year horizon. This pattern illustrates a generally positive trend where short-term fluctuations have been overshadowed by stronger medium and long-term gains.

The fund carries a Low volatility label and a Beta of 1.00, suggesting its price movements align closely with the broader market while maintaining a stable volatility profile. A Sharpe ratio of 0.76 indicates that the fund has generated a moderate amount of excess return per unit of risk taken over the measured period. The maximum drawdown of -17.54% represents the largest peak-to-trough decline experienced by the fund, highlighting the extent of potential downside during adverse market conditions. This combination of a Beta of 1.00 and a specific maximum drawdown implies the fund mirrors market swings without amplifying them, yet still experiences significant corrections. The Low volatility classification alongside a 0.76 Sharpe ratio suggests the fund offers a balanced risk-return profile within its Real Estate category peers.

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

FREL Top Holdings

Holdings as of 2026-04-30 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: 4.61% (as of 2026-07-28) — 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): 18.21 (as of 2026-07-28) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FREL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 12.16% and average daily volume is 246K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.45B 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