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DCRE vs FREL

DoubleLine Commercial Real Estate ETF

DCREDNYSE Arca

Fidelity MSCI Real Estate Index ETF

FRELANYSE Arca

Overlap

Expense ratio

FREL −0.31pt a year

DCRE0.39%FREL0.08%

Avg volume · 30D

FREL 6.7×the volume

DCRE47KFREL313K

3Y return · a year

FREL +7.7pt

DCRE+5.7%FREL+13.4%

DCRE vs FREL Performance

Nov 7, 2025 – Nov 9, 2026

+3.1%DCRE+11.7%FREL

Nov 7, 2025 to Nov 9, 2026. DCRE +3.1%. FREL +11.7%. Use the arrow keys to read each point.0%5%15%Nov 2025May 2026Nov 2026
Expense ratio
DCRE 0.39%
FREL 0.08%, better
Fund size
DCRE $433M
FREL $1.4B
1Y total return
DCRE +3.1%
FREL +11.7%, better
Yield (12M)
DCRE 5.23%, better
FREL 3.29%
Holdings
DCRE 276
FREL 126
Avg volume (30D)
DCRE 47K sh
FREL 313K sh, better
NAV per share
DCRE $50.91
FREL $29.53
52W range

ETF.net Grade

DCRE: Cost 36, Risk 68, Mission 0, Tradability 43, Holdings 100, Durability 44. FREL: Cost 93, Risk 53, Mission 99, Tradability 68, Holdings 76, Durability 66.
Pillar letters and Scores for DCRE, FREL, with each pillar’s weight
PillarDCREFREL
Cost30% weightD36A93Higher
Mission25% weightF0A99Higher
Risk15% weightB68HigherC53
Tradability15% weightC43B68Higher
Holdings10% weightA100HigherA76
Durability5% weightC44B66Higher

Rank among US Real Estate funds

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

Same Category. DCRE and FREL are both graded against the same 21 US Real Estate funds, so their Grades compare head to head.

US Real Estate⁠

Category · 21 funds
See all 21 ›

FREL ranks 3rd and DCRE 18th of 21 funds in the US Real Estate Category.

  1. Rank 1ASCHHSchwab U.S. REIT ETFScore 83
  2. Rank 1AUSRTiShares Core U.S. REIT ETFScore 83
  3. Rank 3AFRELFidelity MSCI Real Estate Index ETFScore 81
  4. Rank 4AXLREState Street Real Estate Select Sector SPDR ETFScore 79
  5. Rank 17CTRURVanEck Real Estate TruSector ETFScore 40
  6. Rank 18DDCREDoubleLine Commercial Real Estate ETFScore 39
  7. Rank 19FDESKVanEck Office and Commercial REIT ETFScore 20

Our read on each fund

ETF.net Research

DCREDDoubleLine Commercial Real Estate ETF

FRELAFidelity MSCI Real Estate Index ETF

In short

DCRE No data

FREL Fidelity'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.

Stated mandate

DCRE No data

FREL The fund seeks to track, before fees and expenses, the performance of the MSCI USA IMI Real Estate Index.

Why people hold it

DCRE No data

  • FREL 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

DCRE No data

  • FREL 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.

Full DCRE profile⁠

Full FREL profile⁠

DCRE vs FREL 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.

DCRE vs FREL Cost

Overpaying DCRE vs FREL

$6,125

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

  • DCRE 0.39%

    $7,898

  • FREL 0.084%

    $1,773

$10,000
30 years

Cost over time

  • DCRE 0.39%
  • FREL 0.084%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530DCRE $7,898FREL $1,773

Year by year

YearDCREFRELOverpaying
10$705$154$551
20$2,725$603$2,122
30$7,898$1,773$6,125

Expense ratio

  • 0.39%DCRE
  • 0.08%FREL, cheaper
  • Middle half of US Real Estate funds
  • Median 0.35%

FREL 4th cheapest of 21 funds

DCRE 14th cheapest of 21 funds

DCRE vs FREL Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
DCRE 5.23%, better
FREL 3.29%
Payout (12M)
DCRE $2.67
FREL $0.97
Last payment
DCRE $0.22
FREL $0.23
Ex-dividend
DCRE Nov 2, 2026
FREL Sep 18, 2026
Paid on
DCRE Nov 6, 2026
FREL Sep 22, 2026
Frequency
DCRE Monthly
FREL Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

DCREMonthly · 43 paymentsAll DCRE payments⁠
One bar per payment. 43 payments from 2023 to 2026 YTD. May 1, 2023 $0.12; Jun 1, 2023 $0.20; Jul 3, 2023 $0.25; Aug 1, 2023 $0.22; Sep 1, 2023 $0.18; Oct 2, 2023 $0.20; Nov 1, 2023 $0.21; Dec 1, 2023 $0.17; Dec 22, 2023 $0.21; Feb 1, 2024 $0.23; Mar 1, 2024 $0.22; Apr 1, 2024 $0.23; May 1, 2024 $0.23; Jun 3, 2024 $0.27; Jul 1, 2024 $0.25; Aug 1, 2024 $0.24; Sep 3, 2024 $0.26; Oct 1, 2024 $0.21; Nov 1, 2024 $0.22; Dec 2, 2024 $0.24; Dec 23, 2024 $0.25; Feb 3, 2025 $0.20; Mar 3, 2025 $0.22; Apr 1, 2025 $0.21; May 1, 2025 $0.21; Jun 2, 2025 $0.19; Jul 1, 2025 $0.23; Aug 1, 2025 $0.22; Sep 2, 2025 $0.21; Oct 1, 2025 $0.21; Nov 3, 2025 $0.20; Dec 1, 2025 $0.21; Dec 23, 2025 $0.20; Feb 2, 2026 $0.21; Mar 2, 2026 $0.19; Apr 1, 2026 $0.18; May 1, 2026 $0.21; Jun 1, 2026 $0.19; Jul 1, 2026 $0.23; Aug 3, 2026 $0.22; Sep 1, 2026 $0.28; Oct 1, 2026 $0.32; Nov 2, 2026 $0.22. Use the arrow keys to read each point.$0$0.2520232026YTD
FRELQuarterly · 15 paymentsAll FREL payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Mar 17, 2023 $0.33; Jun 16, 2023 $0.23; Sep 15, 2023 $0.23; Dec 15, 2023 $0.21; Mar 15, 2024 $0.25; Jun 21, 2024 $0.25; Sep 20, 2024 $0.22; Dec 20, 2024 $0.22; Mar 21, 2025 $0.26; Jun 20, 2025 $0.27; Sep 19, 2025 $0.23; Dec 19, 2025 $0.22; Mar 20, 2026 $0.25; Jun 18, 2026 $0.27; Sep 18, 2026 $0.23. Use the arrow keys to read each point.$0$0.2520232026YTD

DCRE vs FREL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DCRE 1.5%, betterFREL 16.5%
Return per unit of riskSharpe ratio, 3 years
DCRE 0.79, betterFREL 0.56
Worst fallMax drawdown, 5 years
DCRE −0.8%since Apr 2023FREL −34.4%
Market sensitivityBeta, 5 years
DCRE 0.17FREL 0.97

Popular comparisons

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    Expense ratio
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