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AVRE vs FPRO

Avantis Real Estate ETF

AVREANYSE Arca

Fidelity Real Estate Investment ETF

FPROBCboe

Overlap

Expense ratio

AVRE −0.40pt a year

AVRE0.17%FPRO0.57%

Avg volume · 30D

AVRE 16.0×the volume

AVRE77.8KFPRO4.88K

5Y return · a year

FPRO +1.2pt

AVRE+0.5%FPRO+1.7%

AVRE vs FPRO Performance

Oct 29, 2021 – Oct 30, 2026

+2.7%AVRE+8.9%FPRO

Oct 29, 2021 to Oct 30, 2026. AVRE +2.7%. FPRO +8.9%. Use the arrow keys to read each point.−20%−10%Oct 2021Apr 2024Oct 2026
Expense ratio
AVRE 0.17%, better
FPRO 0.57%
Fund size
AVRE $883M
FPRO $15M
1Y total return
AVRE +8.1%
FPRO +10.4%, better
Yield (12M)
AVRE 2.99%, better
FPRO 2.49%
Holdings
AVRE 329
FPRO 43
Avg volume (30D)
AVRE 77.8K sh, better
FPRO 4.88K sh
NAV per share
AVRE $45.98
FPRO $24.17
52W range

ETF.net Grade

AVRE: Cost 88, Risk 57, Mission not scored, Tradability 71, Holdings 87, Durability 78. FPRO: Cost 72, Risk 58, Mission 83, Tradability 40, Holdings 47, Durability 54.
Pillar letters and Scores for AVRE, FPRO, with each pillar’s weight
PillarAVREFPRO
Cost30% weightA88HigherA72
Mission25% weightNot scoredA83
Risk15% weightB57B58Higher
Tradability15% weightA71HigherC40
Holdings10% weightA87HigherC47
Durability5% weightA78HigherC54

Rank among US Active Sector funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AVRE and FPRO are both graded against the same 35 US Active Sector funds, so their Grades compare head to head.

US Active Sector⁠

Category · 35 funds
See all 35 ›

AVRE ranks 1st and FPRO 9th of 35 funds in the US Active Sector Category.

  1. Rank 1AAVREAvantis Real Estate ETFScore 77
  2. Rank 2APSRInvesco Active U.S. Real Estate ETFScore 70
  3. Rank 7BLFSCF/M Emerald Life Sciences Innovation ETFScore 61
  4. Rank 9BFPROFidelity Real Estate Investment ETFScore 58
  5. Rank 10BPYZInvesco Dorsey Wright Basic Materials Momentum ETFScore 57

Our read on each fund

ETF.net Research

AVREAAvantis Real Estate ETF

FPROBFidelity Real Estate Investment ETF

In short

AVRE Landlord exposure at index-fund pricing. AVRE holds roughly 300 REITs and property companies worldwide, measured against the S&P Global REIT Index, for 0.17% a year while the typical fund in its active-equity peer group charges far more.

FPRO Most 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

AVRE The fund seeks long-term capital appreciation.

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

Why people hold it

  • AVRE 0.17% a year, a fraction of the median expense ratio in its active-equity peer group. Fees are the one part of a real estate return you know in advance.avantisinvestors.com
  • Global by design: US and developed-market property owners across roughly 300 names, so no single office tower or mall operator sets the tone.avantisinvestors.com
  • Rent shows up on a schedule. The fund distributes quarterly, and its stated objective is long-term capital appreciation rather than a yield target.avantisinvestors.com
  • On cost and structure it sits among the strongest implementations in its peer group, with a clean record: no structural flags, no scoring caps.
  • FPRO 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

  • AVRE One sector, one story. Real estate reacts hard to interest rates and credit conditions, so this moves on its own schedule versus a broad stock fund.
  • Global reach means foreign-currency property markets ride along, adding exchange-rate movement on top of the underlying real estate returns.avantisinvestors.com
  • Launched in 2021, so its live history is short next to REIT funds that have been through multiple property cycles.
  • FPRO 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.

Full AVRE profile⁠

Full FPRO profile⁠

AVRE vs FPRO Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AVRE vs FPRO Cost

Overpaying FPRO vs AVRE

$7,725

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

  • AVRE 0.17%

    $3,546

  • FPRO 0.57%

    $11,271

$10,000
30 years

Cost over time

  • AVRE 0.17%
  • FPRO 0.57%
  • 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 $11,271AVRE $3,546

Year by year

YearAVREFPROOverpaying
10$310$1,023$713
20$1,211$3,921$2,710
30$3,546$11,271$7,725

Expense ratio

  • 0.17%AVRE, cheaper
  • 0.57%FPRO
  • Middle half of US Active Sector funds
  • Median 0.61%

AVRE 5th cheapest of 35 funds

FPRO 11th cheapest of 35 funds

AVRE vs FPRO Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AVRE 2.99%, better
FPRO 2.49%
Payout (12M)
AVRE $1.38
FPRO $0.60
Last payment
AVRE $0.40
FPRO $0.14
Ex-dividend
AVRE Sep 8, 2026
FPRO Sep 18, 2026
Paid on
AVRE Sep 10, 2026
FPRO Sep 22, 2026
Frequency
AVRE Quarterly
FPRO Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

AVREQuarterly · 20 paymentsAll AVRE payments⁠
One bar per payment. 20 payments from 2021 to 2026 YTD. Dec 16, 2021 $0.34; Mar 22, 2022 $0.15; Jun 21, 2022 $0.15; Sep 20, 2022 $0.34; Dec 15, 2022 $0.41; Mar 23, 2023 $0.26; Jun 20, 2023 $0.28; Sep 21, 2023 $0.42; Dec 18, 2023 $0.49; Mar 21, 2024 $0.26; Jun 24, 2024 $0.36; Sep 23, 2024 $0.66; Dec 17, 2024 $0.40; Mar 25, 2025 $0.27; Jun 24, 2025 $0.40; Sep 23, 2025 $0.65; Dec 16, 2025 $0.55; Mar 10, 2026 $0.04; Jun 9, 2026 $0.39; Sep 8, 2026 $0.40. Use the arrow keys to read each point.$0$0.5020232026YTD
FPROQuarterly · 23 paymentsAll FPRO payments⁠
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.$0$0.5020232026YTD

AVRE vs FPRO Risk

Fall from peak · 5 years

  • AVRE
  • FPRO
Oct 29, 2021 to Oct 30, 2026. Worst fall: AVRE −33.3% · Oct 2023. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
AVRE 15.6%, betterFPRO 16.0%
Return per unit of riskSharpe ratio, 3 years
AVRE 0.53FPRO 0.56, better
Worst fallMax drawdown, 5 years
AVRE −33.3%FPRO −32.8%, better
Market sensitivityBeta, 5 years
AVRE 0.90FPRO 0.94

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