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Launched

Fidelity Real Estate Income ETF

FREINasdaqFidelityC

$24.19+0.06 (+0.27%)

At close: Nov 2, 2026, 4:00 PM ET

C47/ 100

Rank 9 of 18 in Global & International Real Estate

C47/100Rank 9 of 18inGlobal & International Real Estate
Intraday session: up, 79 prints from 24.13 to 24.19. Range 24.14 to 24.21. Use the arrow keys to read each point.24.1424.1624.1824.2010 AM12 PM2 PM4 PM
Expense ratio
0.57%*
Fund size
$47M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
592
Avg volume · 30D
25.2K sh
52W range
low $23.65high $27.81
Launched

*After a fee waiver that ends Nov 30, 2027. Without it: 0.76%.

The ETF.net FREI Grade

Based on 5 of 6 pillars

C

Score 47 out of 100

Category
Global & International Real Estate⁠
Rank
9 of 18
Six-pillar profile for FREI. Scores out of 100: Cost 24, Risk 64, Mission not scored, Tradability 51, Holdings 100, Durability 27. Strongest: Holdings (100). Weakest: Cost (24). Based on 5 of 6 pillars.

Score 47 of 100 falls in the C 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.
    F24 out of 100
    Rank 14 of 18

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 5 of 18

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C51 out of 100
    Rank 9 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A100 out of 100
    Rank 1 of 18

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D27 out of 100
    Rank 16 of 18

Our read on FREI

ETF.net Research

In short

CNot a REIT index fund. FREI is the ETF class of Fidelity's real estate income mutual fund: an active, income-first mix of property debt and dividend-paying real estate equity, with capital growth the secondary goal.

Stated mandate

The fund seeks higher-than-average income and secondarily capital growth. It normally invests at least 80% of assets in debt and income-producing equity securities of companies principally engaged in real estate and related investments.

Why people hold it

  • Income first, growth second, by charter: at least 80% of assets sit in real estate debt and income-producing equity, so bonds and preferreds do work pure REIT funds skip.fidelity.com
  • Two doors, one portfolio. The ETF is a share class of Fidelity's existing real estate income mutual fund, not a strategy starting from an empty book.fidelity.com
  • Run by people, not a rules screen, with room to move across the capital stack from mortgage debt to REIT equity. Upper half of its global real estate peer group.fidelity.com

Worth knowing

  • You pay for the active mix: 0.57% net of a waiver through November 30, 2027 (0.76% gross), above the category median and above index peers like HAUZ at 0.10%.
  • The ETF class is young and much smaller than the mutual fund behind it, and it trades thinly. Spreads can widen, which is what limit orders are for.
  • Debt and preferreds put interest-rate moves in the mix alongside property risk, so it behaves differently from a plain equity REIT fund.

FREI Performance

Launched Jun 16, 2026

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.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FREI$9,819
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. FREI $9,819. SPY $10,141. Use the arrow keys to read each point.$9,750$10,000$10,250$10,500Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 FREI. Periods over one year show the average yearly return.
PeriodFREI
Year to dateFund launched this yearNo data
1 month+1.7%
3 months−1.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
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 FREI
YearReturn barFREI
2026 YTD−1.6%

Since listing, Jun 16, 2026

FREI in the news

FREI Dividends

Last payment
$0.29 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jul 10, 2026 $0.18; Oct 2, 2026 $0.29. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 2, 2026Oct 6, 2026$0.29
Jul 10, 2026Jul 14, 2026$0.18

FREI Risk

Risk pillarB64 out of 100Rank 5 of 18 in Global & International Real Estate
How much the fund’s monthly returns vary, scaled to a year.
Launched Jun 2026; fills in after 12 months
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.
Launched Jun 2026; fills in after 12 months
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.
Launched Jun 2026; fills in after 12 months
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.
0.65
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.

FREI Cost

Compare FREI and HAUZ

Overpaying vs HAUZ, cheapest in Global & International Real Estate

$9,165

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

  • FREI 0.57%

    $11,271

  • HAUZ 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • FREI 0.57%
  • HAUZ 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$12.5K051015202530FREI $11,271HAUZ $2,106

Year by year

YearFREIHAUZOverpaying
10$1,023$183$840
20$3,921$717$3,204
30$11,271$2,106$9,165
How the 0.57% is worked out

Full fee 0.76%− waiver 0.19%= you pay 0.57%

The waiver ends Nov 30, 2027. After that the fee is 0.76% unless Fidelity renews it. Source: prospectus, Sep 2026.

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