BYREvsFRELETF Comparison
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Principal Real Estate Active Opportunities ETF (BYRE) and Fidelity MSCI Real Estate Index ETF (FREL) belong to the same industry segment: US Real Estate. BYRE's top 3 sector exposures are Finance, Non-Corporate and Technology. In contrast, FREL's top sector exposures are Finance and Technology. BYRE is more expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.084% for FREL. BYRE is up 11.57% year-to-date (YTD) with +$4M in YTD flows. FREL performs worse with 10.26% YTD performance, and +$244M in YTD flows. Run a side-by-side ETF comparison of BYRE and FREL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BYRE vs FREL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BYRE FREL | +4.96%+6.80% | -3.02%-3.17% | +11.57%+10.26% | +10.74%+10.58% | +37.60%+37.53% | n/a+4.37% |
| Flows | BYRE FREL | +$506K-$11M | +$524K-$17M | +$4M+$244M | +$6M+$276M | +$16M+$285M | --$353M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BYRE FREL | +12.37%+13.52% | +12.76%+13.94% | +15.17%+16.36% | n/a+18.98% |
| Max drawdown | BYRE FREL | -8.68%-9.99% | -10.62%-11.58% | -14.99%-17.46% | n/a-34.35% |
| Max drawdown duration | BYRE FREL | 69d70d | 99d98d | 507d441d | n/a1621d |
Trading data
BYRE | FREL | |
Last sale 11/4/2026 at 2:30 PM | $27.68 | $29.75 |
| Previous close 11/03/2026 | $26.81 | $28.84 |
| Consolidated volume 11/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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BYRE
is actively managed and doesn’t replicate an indexBYRE | FREL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/4/2026 at 2:30 PM
Live
Closed
BYRE | FREL | |
|---|---|---|
| Last price | $27.68 | $29.75 |
| 1D performance | +3.24% | +3.16% |
| AuM | $27.22 M | $1.41 B |
| E/R | 0.6% | 0.084% |
Characteristics
BYRE | FREL | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Principal Global Investors | Fidelity |
| Benchmark | - | MSCI USA IMI Real Estate 25/25 Index |
| N° of holdings | 48 | 117 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 19, 2022 | February 2, 2015 |
| ESG | No | No |
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Exposure
Countries
BYRE
USA
92.19%
Other
7.81%
FREL
USA
99.8%
Other
0.2%
Sectors
BYRE
Finance
97.19%
Other
2.81%
FREL
Finance
98.78%
Other
1.22%
Diversification
BYRE
Total weight of top 15 holdings out of 15
67.67%
FREL
Total weight of top 15 holdings out of 15
60.3%
Top 15 holdings
Data as of September 30, 2026
BYRE
Equinix, Inc.
8.55%
Welltower, Inc.
8.50%
American Tower Corp.
6.72%
Crown Castle, Inc.
4.48%
Ventas, Inc.
4.43%
Sabra Health Care REIT, Inc.
4.37%
Prologis, Inc.
4.34%
Iron Mountain, Inc.
3.67%
Extra Space Storage, Inc.
3.61%
Gaming & Leisure Properties, Inc.
3.60%
Essex Property Trust, Inc.
3.46%
American Homes 4 Rent
3.36%
EastGroup Properties, Inc.
3.06%
Digital Realty Trust, Inc.
2.99%
Rexford Industrial Realty, Inc.
2.53%
FREL
Welltower, Inc.
9.86%
Prologis, Inc.
7.93%
Equinix, Inc.
5.71%
American Tower Corp.
4.69%
Simon Property Group, Inc.
4.51%
Digital Realty Trust, Inc.
4.11%
Realty Income Corp.
3.47%
Public Storage
3.35%
Equity Residential
3.08%
Ventas, Inc.
2.76%
CBRE Group, Inc.
2.75%
Iron Mountain, Inc.
2.29%
Crown Castle, Inc.
2.05%
Extra Space Storage, Inc.
1.98%
VICI Properties, Inc.
1.76%
Frequently asked questions about BYRE and FREL
How have the BYRE and FREL ETFs performed in 2026?
As of November 2, 2026, BYRE is up 11.57% year-to-date (YTD), while FREL has returned 10.26%. That puts BYRE better performer ahead so far this year.
Which ETF is attracting more investor money: BYRE or FREL?
Year-to-date, the BYRE ETF saw +$4M in flows, compared to +$244M for FREL.
Which ETF is more volatile: BYRE or FREL?
Over the past year, BYRE had a volatility of 12.76%, while FREL experienced 13.94%.
Which ETF is bigger: BYRE or FREL?
As of November 2, 2026, BYRE holds $27.22 M in assets under management (AUM), while FREL manages $1.41 B.
What sectors do the BYRE and FREL ETFs invest in?
BYRE leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.
What are the top holdings of the BYRE ETF and FREL ETF?
BYRE top holdings include Equinix, Inc., Welltower, Inc. and American Tower Corp.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: BYRE or FREL?
BYRE holds 48 securities with 67.67% of its assets in the top 15. FREL has 118 securities and a top 15 weight of 60.3%.
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Latest news about BYRE & FREL
Two Ways to Get Real Estate Income with ETFs
August 2, 2024
FREL
Real Estate Sector Declines on Fed Minutes
May 27, 2024
FREL
Real Estate Sector Suffers Third Weekly Loss Amid Rising Treasury Yields
April 22, 2024
FREL
Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
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