Fidelity MSCI Real Estate Index ETF
$27.84−0.29 (−1.05%)
- Expense ratio
- 0.08%
- Fund size
- $1.5B
- 1Y return
- +5.7%
- Yield · Last 12 months
- 3.45%
- Holdings
- 147
- Volume · 30D
- 0.3M sh
- NAV per share
- $28.21
- 52W range
The ETF.net FREL Grade
Score 82 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 93Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 99Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 55Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 69Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 77Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 65Category rank
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
- 147
- 49%
- WELL
Sectors
- Real Estate99.4%
- Communication0.5%
- Energy0.2%
Geography
- United States99.80%
- Bermuda0.20%
FREL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +7.5% |
| 1 month | −5.1% |
| 3 months | −2.3% |
| 1 year | +5.7% |
| 3 years | +10.7% |
| 5 years | +1.2% |
| 10 years | +5.1% |
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 | +7.5% | |
| 2025 | +3.1% | |
| 2024 | +5.0% | |
| 2023 | +11.8% | |
| 2022 | −26.2% | |
| 2021 | +40.5% | |
| 2020 | −4.9% |
FREL in the news
ETF.net Research hasn’t filed on FREL yet — coverage lands here as it’s written.
FREL Dividends
- 3.45%
- $0.97
- $0.23 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Sep 22, 2026 | $0.23 |
| Jun 18, 2026 | Jun 23, 2026 | $0.27 |
| Mar 20, 2026 | Mar 24, 2026 | $0.25 |
| Dec 19, 2025 | Dec 23, 2025 | $0.22 |
| Sep 19, 2025 | Sep 23, 2025 | $0.23 |
| Jun 20, 2025 | Jun 24, 2025 | $0.27 |
| Mar 21, 2025 | Mar 25, 2025 | $0.26 |
| Dec 20, 2024 | Dec 24, 2024 | $0.22 |
| Sep 20, 2024 | Sep 24, 2024 | $0.22 |
| Jun 21, 2024 | Jun 25, 2024 | $0.25 |
| Mar 15, 2024 | Mar 20, 2024 | $0.25 |
| Dec 15, 2023 | Dec 20, 2023 | $0.21 |
FREL Risk
- 16.7%
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.
- 0.36
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.
- 0.98
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
- The middle half of US Real Estate funds
- Median 0.35%
1 of the 21 US Real Estate funds charge less.