Fidelity InvestmentsReal EstateFREL · NYSE Arca

Fidelity MSCI Real Estate Index ETF (FREL)

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Price: $28.77; —11 Sept 2026
Assets: $1.5B; Total net assets
Expense ratio: 0.08%; Category 1.08%
Yield: 3.30%; Trailing distributions

1Y return: 5.2%-1.9%; Category 7.1%
3Y CAGR: 9.3%+0.1%; Category 9.3%
5Y CAGR: 1.3%-0.5%; Category 1.8%

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Fidelity MSCI Real Estate Index ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-2.6%	-3.0%	+4.9%	+9.0%	+5.2%	+9.3%	+1.3%	+5.5%	+4.9%
Real Estate average	-3.0%	-3.6%	5.3%	9.7%	7.1%	9.3%	1.8%	4.4%	5.3%
Difference	+0.4%	+0.6%	-0.5%	-0.7%	-1.9%	+0.1%	-0.5%	+1.1%	-0.4%

Holdings

The 10 largest positions make up 48.5% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
WELL	Welltower Inc	9.43%
PLD	Prologis Inc	7.81%
EQIX	Equinix Inc	5.54%
AMT	American Tower Corp	4.56%
SPG	Simon Property Group Inc	4.38%
DLR	Digital Realty Trust Inc	4.01%
O	Realty Income Corp	3.59%
PSA	Public Storage	3.34%
VMRK	Vivmark Residential	3.06%
CBRE	CBRE Group Inc Class A	2.80%

Portfolio valuation

Weighted averages of what the fund holds.

P/E: 29.9
P/B: 2.6
P/S: 4.8
P/CF: 16.4

Sector allocation

Share of the equity the fund holds.

Real estate99.4%
Communication services0.5%
Energy0.2%

Asset mix

Stocks99.9%
Other0.1%
Cash0.0%

ETF details

Issuer: Fidelity Investments
Category: Equity · Real Estate
Ticker: FREL
Exchange: NYSE Arca
Inception: 2 Feb 2015 (11.6 years)
Structure: Exchange Traded Fund
Expense ratio: 0.08% (category 1.08%)
Holdings turnover: 7% (category 66%)
Distribution yield: 3.30%
Beta, 3 years: 0.98
Total net assets: $1.5B

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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