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Launched · SEC filings

Fidelity Real Estate Investment ETF

FPROCboeFidelityB

$24.48+0.32 (+1.32%)

As of Nov 2, 2026, 3:33 PM ET

B58/ 100

Rank 9 of 35 in US Active Sector

B58/100Rank 9 of 35inUS Active Sector
Intraday session: up, 74 prints from 24.16 to 24.48. Range 24.02 to 24.49. Use the arrow keys to read each point.24.0024.1024.3024.4010 AM12 PM2 PM4 PM
Expense ratio
0.57%
Fund size
$15M
1Y total return
+10.4%
Yield · Last 12 months
2.49%
Holdings
43
Avg volume · 30D
4.88K sh
52W range
low $21.95high $26.30
Launched
Filings
SEC EDGAR

The ETF.net FPRO Grade

B

Score 58 out of 100

Category
US Active Sector⁠
Rank
9 of 35
Six-pillar profile for FPRO. Scores out of 100: Cost 72, Risk 58, Mission 83, Tradability 40, Holdings 47, Durability 54. Strongest: Mission (83). Weakest: Tradability (40). Leans toward Mission.

Score 58 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A72 out of 100
    Rank 10 of 35

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A83 out of 100
    Rank 3 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B58 out of 100
    Rank 14 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C40 out of 100
    Rank 26 of 35

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C47 out of 100
    Rank 24 of 35

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 20 of 35

Our read on FPRO

ETF.net Research

In short

BMost real estate ETFs just buy the whole REIT index. FPRO is Fidelity's stock-picker version: roughly 40 property names chosen with above-average income as the stated first job and capital growth second.

Stated mandate

The fund seeks higher-than-average income, with capital growth as a secondary goal.

Why people hold it

  • Active by design. Roughly 40 real estate holdings selected by Fidelity's team rather than a whole-market index clone.
  • Income is the declared mandate, not a side effect: the fund seeks higher-than-average income first, capital growth second, and distributions come quarterly.
  • Fee discipline for a hands-on mandate: 0.57% a year, under the typical active US equity ETF in its peer group.
  • Stays inside the lines. On faithfulness to its stated real estate income mandate, it screens as one of the stronger implementations in its active peer group.

Worth knowing

  • It has stayed small and thinly traded since its 2021 launch, which can show up as wider bid-ask spreads than the big index REIT funds.
  • One sector, about 40 names. Property and interest-rate cycles move the whole portfolio together, with no other sectors to cushion the ride.
  • No index safety net: outcomes ride on the manager's picks inside real estate rather than on owning the market cap-weighted REIT universe.

FPRO Performance

Launched Feb 2, 2021

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
FPRO$11,042
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FPRO $11,042. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FPRO. Periods over one year show the average yearly return.
PeriodFPRO
Year to date+10.7%
1 month+4.3%
3 months−4.5%
1 year+10.4%
3 yearsper year+13.0%
5 yearsper year+1.7%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FPRO
YearReturn barFPRO
2026 YTD+10.7%
2025+2.6%
2024+5.6%
2023+10.9%
2022−25.0%
2021+40.2%

History from Feb 4, 2021

FPRO in the news

FPRO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.49%Last 12 months
Payout per share
$0.60Last 12 months
Last payment
$0.14 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2021–2026

One bar per payment. 23 payments from 2021 to 2026 YTD. Mar 19, 2021 $0.11; Jun 18, 2021 $0.10; Sep 17, 2021 $0.12; Dec 17, 2021 $0.13; Mar 18, 2022 $0.16; Jun 17, 2022 $0.13; Sep 16, 2022 $0.13; Dec 16, 2022 $0.12; Mar 17, 2023 $0.18; Jun 16, 2023 $0.15; Sep 15, 2023 $0.16; Dec 15, 2023 $0.13; Mar 15, 2024 $0.17; Jun 21, 2024 $0.14; Sep 20, 2024 $0.13; Dec 20, 2024 $0.12; Mar 21, 2025 $0.15; Jun 20, 2025 $0.18; Sep 19, 2025 $0.16; Dec 19, 2025 $0.11; Mar 20, 2026 $0.18; Jun 18, 2026 $0.18; Sep 18, 2026 $0.14. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.14
Jun 18, 2026Jun 23, 2026$0.18
Mar 20, 2026Mar 24, 2026$0.18
Dec 19, 2025Dec 23, 2025$0.11
Sep 19, 2025Sep 23, 2025$0.16
Jun 20, 2025Jun 24, 2025$0.18
Mar 21, 2025Mar 25, 2025$0.15
Dec 20, 2024Dec 24, 2024$0.12
Sep 20, 2024Sep 24, 2024$0.13
Jun 21, 2024Jun 25, 2024$0.14
Mar 15, 2024Mar 20, 2024$0.17
Dec 15, 2023Dec 20, 2023$0.13

See all 23 payments⁠

$10,000 in FPRO 5 years ago paid $1,149 in dividends.⁠

FPRO Risk

Risk pillarB58 out of 100Rank 14 of 35 in US Active Sector
How much the fund’s monthly returns vary, scaled to a year.
16.0%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.56
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−32.8%
Trough Oct 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.94
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FPRO Cost

Compare FPRO and TRUF

Overpaying vs TRUF, tied cheapest in US Active Sector

$9,165

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FPRO 0.57%

    $11,271

  • TRUF 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • FPRO 0.57%
  • TRUF 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530FPRO $11,271TRUF $2,106

Year by year

YearFPROTRUFOverpaying
10$1,023$183$840
20$3,921$717$3,204
30$11,271$2,106$9,165

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