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FPROvsFRELETF Comparison

ETF 1

FPRO

Fidelity Real Estate Investment ETF

This fund is part of

Uncategorized Equities

+0.4%

Full FPRO fund page

VS

ETF 2

FREL

Fidelity MSCI Real Estate Index ETF

This fund is part of

US Real Estate

+0.51%

Full FREL fund page

Fidelity Real Estate Investment ETF (FPRO) belongs to the Uncategorized Equities segment. Fidelity MSCI Real Estate Index ETF (FREL) is part of the US Real Estate segment. Both ETFs have the same top 2 sector exposures: Finance and Technology. FPRO is more expensive with a Total Expense Ratio (TER) of 0.57%, versus 0.084% for FREL. FPRO is up 9.63% year-to-date (YTD) with +$603K in YTD flows. FREL performs worse with 8.06% YTD performance, and +$247M in YTD flows. Run a side-by-side ETF comparison of FPRO 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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FPRO vs FREL performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/26/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FPRO FREL	+2.15%+2.95%	-6.86%-6.59%	+9.63%+8.06%	+5.56%+4.07%	+44.24%+44.37%	+6.35%+3.07%
Flows	FPRO FREL	-$594K-$38M	-$594K-$16M	+$603K+$247M	+$41K+$282M	-$1M+$286M	-$1M-$337M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FPRO FREL	+12.09%+12.64%	+13.87%+14.08%	+16.22%+16.51%	+18.83%+18.96%
Max drawdown	FPRO FREL	-10.87%-11.58%	-10.91%-11.58%	-16.55%-17.46%	-33.01%-34.35%
Max drawdown duration	FPRO FREL	90d90d	92d90d	511d441d	1565d1621d

Trading data

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	FPRO	FREL
Last sale 10/27/2026 at 1:30 PM	$23.73	$28.04
Previous close 10/26/2026	$23.89	$28.27
Consolidated volume 10/26/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

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FPRO

is actively managed and doesn’t replicate an index

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	FPRO	FREL
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/27/2026 at 1:30 PM

Live

Closed

	FPRO	FREL
Last price	$23.73	$28.04
1D performance	-0.67%	-0.81%
AuM	$14.94 M	$1.39 B
E/R	0.57%	0.084%

Characteristics

	FPRO	FREL
Management strategy	Active	Passive
Provider	Fidelity	Fidelity
Benchmark	-	MSCI USA IMI Real Estate 25/25 Index
N° of holdings	43	117
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	February 2, 2021	February 2, 2015
ESG	No	No

More FPRO data on Trackinsight

More FREL data on Trackinsight

Exposure

Countries

FPRO

USA

99.96%

Other

0.04%

FREL

USA

99.78%

Other

0.22%

Sectors

FPRO

Finance

98.73%

Other

1.27%

FREL

Finance

98.65%

Other

1.35%

Diversification

FPRO

Total weight of top 15 holdings out of 15

72.5%

FREL

Total weight of top 15 holdings out of 15

60%

Top 15 holdings

Data as of August 31, 2026

FPRO

Prologis, Inc.

9.72%

Equinix, Inc.

8.76%

American Tower Corp.

8.56%

Welltower, Inc.

7.26%

Simon Property Group, Inc.

4.78%

Digital Realty Trust, Inc.

4.31%

US78464A6073

4.10%

UDR, Inc.

3.67%

Ventas, Inc.

3.45%

CBRE Group, Inc.

3.19%

Equity Residential

3.16%

NNN REIT, Inc.

3.16%

Realty Income Corp.

2.85%

Kimco Realty Corp.

2.81%

STAG Industrial, Inc.

2.72%

FREL

Welltower, Inc.

9.53%

Prologis, Inc.

7.88%

Equinix, Inc.

5.51%

American Tower Corp.

4.58%

Simon Property Group, Inc.

4.44%

Digital Realty Trust, Inc.

4.02%

Realty Income Corp.

3.64%

Public Storage

3.42%

Equity Residential

3.09%

CBRE Group, Inc.

2.91%

Ventas, Inc.

2.74%

Iron Mountain, Inc.

2.27%

Crown Castle, Inc.

2.15%

Extra Space Storage, Inc.

1.99%

VICI Properties, Inc.

1.82%

Frequently asked questions about FPRO and FREL

How have the FPRO and FREL ETFs performed in 2026?

As of October 26, 2026, FPRO is up 9.63% year-to-date (YTD), while FREL has returned 8.06%. That puts FPRO better performer ahead so far this year.

Which ETF is attracting more investor money: FPRO or FREL?

Year-to-date, the FPRO ETF saw +$603K in flows, compared to +$247M for FREL.

Which ETF is more volatile: FPRO or FREL?

Over the past year, FPRO had a volatility of 13.87%, while FREL experienced 14.08%.

Which ETF is bigger: FPRO or FREL?

As of October 26, 2026, FPRO holds $14.94 M in assets under management (AUM), while FREL manages $1.39 B.

What sectors do the FPRO and FREL ETFs invest in?

FPRO leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.

What are the top holdings of the FPRO ETF and FREL ETF?

FPRO top holdings include Prologis, Inc., Equinix, Inc. and American Tower Corp.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..

FPROvsFRELETF Comparison

Fidelity Real Estate Investment ETF

Fidelity MSCI Real Estate Index ETF

FPRO vs FREL performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FPRO and FREL ETFs performed in 2026?

As of October 26, 2026, FPRO is up 9.63% year-to-date (YTD), while FREL has returned 8.06%. That puts FPRO better performer ahead so far this year.

Which ETF is attracting more investor money: FPRO or FREL?

Year-to-date, the FPRO ETF saw +$603K in flows, compared to +$247M for FREL.

Which ETF is more volatile: FPRO or FREL?

Over the past year, FPRO had a volatility of 13.87%, while FREL experienced 14.08%.

Which ETF is bigger: FPRO or FREL?

As of October 26, 2026, FPRO holds $14.94 M in assets under management (AUM), while FREL manages $1.39 B.

What sectors do the FPRO and FREL ETFs invest in?

FPRO leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.

What are the top holdings of the FPRO ETF and FREL ETF?

FPRO top holdings include Prologis, Inc., Equinix, Inc. and American Tower Corp.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..

Which ETF is more diversified: FPRO or FREL?

FPRO holds 107 securities with 72.5% of its assets in the top 15. FREL has 118 securities and a top 15 weight of 60%.

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