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. Both ETFs have the same top 3 sector exposures: and Real Estate. BYRE is more expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.08% for FREL. BYRE is up 9.67% year-to-date (YTD) with +$2M in YTD flows. FREL performs worse with 8.51% YTD performance, and +$252M 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 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BYRE FREL | +7.51%+8.38% | +7.51%+6.21% | +9.67%+8.51% | +10.29%+13.37% | +26.28%+30.68% | n/a+16.98% |
| Flows | BYRE FREL | --$15M | +$2M-$911K | +$2M+$252M | +$11M+$303M | +$17M+$168M | -+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BYRE FREL | +14.23%+14.83% | +12.45%+13.41% | +15.92%+16.98% | n/a+18.91% |
| Max drawdown | BYRE FREL | -7.99%-8.45% | -7.99%-8.45% | -15.23%-17.46% | n/a-34.35% |
| Max drawdown duration | BYRE FREL | 57d44d | 57d44d | 130d441d | n/a1573d |
Trading data
BYRE | FREL | |
Last sale 4/27/2026 at 7:38 PM | $26.53 | $28.96 |
| Previous close 04/27/2026 | $26.67 | $28.73 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 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 4/27/2026 at 7:38 PM
Live
Closed
BYRE | FREL | |
|---|---|---|
| Last price | $26.53 | $28.96 |
| 1D performance | -0.54% | +0.80% |
| AuM | $25.02 M | $1.43 B |
| E/R | 0.6% | 0.08% |
Characteristics
BYRE | FREL | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Principal Global Investors | Fidelity |
| Benchmark | - | MSCI USA IMI Real Estate 25/25 Index |
| N° of holdings | 39 | 113 |
| 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
85.11%
Other
14.89%
FREL
USA
99.19%
Other
0.81%
Sectors
BYRE
Real Estate
90.38%
Other
9.62%
FREL
Real Estate
95.17%
Other
4.83%
Diversification
BYRE
Total weight of top 15 holdings out of 15
69.96%
FREL
Total weight of top 15 holdings out of 15
57.23%
Top 15 holdings
Data as of March 31, 2026
BYRE
EQUINIX INC COMMON STOCK REIT
8.45%
WELLTOWER INC
7.68%
AMERICAN TOWER CL A REIT
6.74%
SABRA HEALTH CARE REIT
5.54%
PROLOGIS REIT
4.83%
CROWN CASTLE INTERNATIONAL
4.58%
VENTAS REIT
4.52%
IRON MOUNTAIN
4.35%
GAMING AND LEISURE PROPERTIES
4.26%
EXTRA SPACE STORAGE REIT
4.12%
INVITATION HOMES INC
3.40%
EQUITY RESIDENTIAL REIT
3.23%
EASTGROUP PROPERTIES REIT
2.96%
HEALTHPEAK PROPERTIES INC
2.94%
DIGITAL REALTY REIT
2.33%
FREL
WELLTOWER INC
8.42%
PROLOGIS REIT
8.14%
AMERICAN TOWER CL A REIT
5.32%
EQUINIX INC COMMON STOCK REIT
4.80%
SIMON PROPERTY GROUP REIT
4.15%
DIGITAL REALTY REIT
4.09%
REALTY INCOME REIT
3.77%
PUBLIC STORAGE REIT
2.97%
CBRE GROUP
2.82%
VENTAS REIT
2.64%
CROWN CASTLE INTERNATIONAL
2.38%
IRON MOUNTAIN
2.09%
VICI PROPERTIES INC
2.02%
EXTRA SPACE STORAGE REIT
1.96%
AVALONBAY COMMUNITIES REIT
1.65%
Frequently asked questions about BYRE and FREL
How have the BYRE and FREL ETFs performed in 2026?
As of April 24, 2026, BYRE is up 9.67% year-to-date (YTD), while FREL has returned 8.51%. 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 +$2M in flows, compared to +$252M for FREL.
Which ETF is more volatile: BYRE or FREL?
Over the past year, BYRE had a volatility of 12.45%, while FREL experienced 13.41%.
Which ETF is bigger: BYRE or FREL?
As of April 24, 2026, BYRE holds $25.02 M in assets under management (AUM), while FREL manages $1.43 B.
What sectors do the BYRE and FREL ETFs invest in?
BYRE leans toward sectors like Real Estate. Meanwhile, FREL focuses on Real Estate.
What are the top holdings of the BYRE ETF and FREL ETF?
BYRE top holdings include EQUINIX INC COMMON STOCK REIT, WELLTOWER INC and AMERICAN TOWER CL A REIT. FREL holds in its top three: WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT.
Which ETF is more diversified: BYRE or FREL?
BYRE holds 41 securities with 69.96% of its assets in the top 15. FREL has 127 securities and a top 15 weight of 57.23%.
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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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