Fidelity MSCI Real Estate Index ETF
$27.63−0.06 (−0.22%)
- 0.08%
- $1.4B
- +6.9%
- 3.51%
- 0.3M sh
- $27.69
- low $26.37high $30.92
The ETF.net FREL Grade
A
Score 82 out of 100
- 1 of 22
Score 82 of 100 falls in the A 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.A93 out of 100Rank 1 of 22Mission
Whether the fund did what it promised, tested against its stated mandate.A99 out of 100Rank 9 of 16Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C54 out of 100Rank 8 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A70 out of 100Rank 8 of 22Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A77 out of 100Rank 6 of 22Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B65 out of 100Rank 10 of 22
Our read on FREL
AFidelity's take on US real estate: one index, about 150 property stocks, and a 0.08% fee against a 0.37% category median. Cheap beta on landlords, and one of the strongest implementations in its peer group.
The fund seeks to track, before fees and expenses, the performance of the MSCI USA IMI Real Estate Index.
Why people hold it
- 0.08% a year against a 0.37% median for US real estate funds. Among the category's leaders, only SCHH runs cheaper, and only by a basis point.
- Tracks the MSCI USA IMI Real Estate Index tightly, with very little drift from the benchmark it promises to follow.
- Plain vanilla plumbing: a 1940 Act index fund holding about 150 US real estate stocks. No leverage, no options overlay, cash paid out quarterly.
- Trading since 2015 and now a multi-billion-dollar fund with Fidelity's index desk behind it.
Worth knowing
- One sector, one country. US real estate can move on its own schedule for long stretches, and this fund rides every bit of that.
- Moderately traded rather than a volume leader in the category, which can show up as wider bid-ask spreads.
- Crowded shelf. SCHH, VNQ, USRT and XLRE cover similar ground at similar prices, so the real difference is which index each one follows.
FREL Holdings
- Stocks
- 127
- 49%
- WELL
Sectors
- Real Estate99.5%
- Communication0.4%
- Energy0.2%
Geography
- United States99.81%
- Bermuda0.19%
FREL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FREL$10,694
Returns run to the Oct 12, 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.
| Period | FREL |
|---|---|
| Year to date | +5.8% |
| 1 month | −3.0% |
| 3 months | −5.5% |
| 1 year | +6.9% |
| 3 years | +10.6% |
| 5 years | +1.1% |
| 10 years | +5.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FREL |
|---|---|---|
| 2026 YTD | +5.8% | |
| 2025 | +3.1% | |
| 2024 | +5.0% | |
| 2023 | +11.8% | |
| 2022 | −26.2% | |
| 2021 | +40.5% | |
| 2020 | −4.9% |
FREL in the news
Category Review
Vanguard's property fund lost a first-half lead over stocks
FREL Dividends
- 3.51%
- $0.97
- $0.23 per share
- Quarterly
Distribution history
FREL Risk
- 16.6%
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.
- 0.38
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.
- −34.4%
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.
- 0.99
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FREL Cost
0.08%
FREL0.08%
- The middle half of US Real Estate funds
- Median 0.35%
1 of the 21 US Real Estate funds charge less.
Other funds in US Real Estate
- ASCHHSchwab U.S. REIT ETFExpense ratio 0.07%1 year return +10.9%
- AUSRTiShares Core U.S. REIT ETFExpense ratio 0.08%1 year return +12.8%
- AXLREState Street Real Estate Select Sector SPDR ETFExpense ratio 0.08%1 year return +6.7%
- ADFARDFA Real Estate Securities Portfolio ETF Class SharesExpense ratio 0.22%1 year return +10.8%
- AVNQVanguard Real Estate ETFExpense ratio 0.13%1 year return +7.6%