FPROvsFRELETF Comparison
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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 3 sector exposures: Real Estate and Industrials. FPRO is more expensive with a Total Expense Ratio (TER) of 0.57%, versus 0.08% for FREL. FPRO is up 11.59% year-to-date (YTD) with -$1K in YTD flows. FREL performs worse with 7.91% YTD performance, and +$252M 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
Historic performance and flows
Data as of 04/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FPRO FREL | +9.38%+8.83% | +9.64%+5.64% | +11.59%+7.91% | +13.77%+12.16% | +29.45%+29.52% | +22.91%+16.37% |
| Flows | FPRO FREL | --$16M | +$567K-$4M | -$1K+$252M | -$590K+$304M | -$3M+$175M | +$7M+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FPRO FREL | +14.46%+14.88% | +13.47%+13.43% | +16.57%+16.94% | +18.82%+18.91% |
| Max drawdown | FPRO FREL | -7.71%-8.45% | -7.71%-8.45% | -16.55%-17.46% | -33.01%-34.35% |
| Max drawdown duration | FPRO FREL | 44d44d | 44d44d | 511d441d | 1565d1576d |
Trading data
FPRO | FREL | |
Last sale 4/28/2026 at 5:01 PM | $24.65 | $28.83 |
| Previous close 04/28/2026 | $24.46 | $29.02 |
| Consolidated volume 04/28/2026 | ||
| 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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FPRO
is actively managed and doesn’t replicate an indexFPRO | 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 4/28/2026 at 5:01 PM
Live
Closed
FPRO | FREL | |
|---|---|---|
| Last price | $24.65 | $28.83 |
| 1D performance | +0.80% | -0.65% |
| AuM | $14.79 M | $1.42 B |
| E/R | 0.57% | 0.08% |
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Exposure
Countries
FPRO
USA
99.95%
Other
0.05%
FREL
USA
99.19%
Other
0.81%
Sectors
FPRO
Real Estate
98.56%
Other
1.44%
FREL
Real Estate
95.17%
Other
4.83%
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Diversification
FPRO
Total weight of top 15 holdings out of 15
74.92%
FREL
Total weight of top 15 holdings out of 15
57.23%
Top 15 holdings
Data as of March 31, 2026
FPRO
PROLOGIS REIT
9.51%
EQUINIX INC COMMON STOCK REIT
9.38%
WELLTOWER INC
9.25%
AMERICAN TOWER CL A REIT
8.40%
KIMCO REALTY REIT
5.02%
NATIONAL RETAIL PROPERTIES REIT
4.68%
DIGITAL REALTY REIT
3.92%
PUBLIC STORAGE REIT
3.76%
CBRE GROUP
3.73%
VENTAS REIT
3.34%
EQUITY RESIDENTIAL REIT
3.08%
IRON MOUNTAIN
3.06%
UDR REIT
3.00%
STAG INDUSTRIAL REIT
2.68%
URBAN EDGE PROPERTIES
2.11%
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 FPRO and FREL
How have the FPRO and FREL ETFs performed in 2026?
As of April 28, 2026, FPRO is up 11.59% year-to-date (YTD), while FREL has returned 7.91%. 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 -$1K in flows, compared to +$252M for FREL.
Which ETF is more volatile: FPRO or FREL?
Over the past year, FPRO had a volatility of 13.47%, while FREL experienced 13.43%.
Which ETF is bigger: FPRO or FREL?
As of April 28, 2026, FPRO holds $14.79 M in assets under management (AUM), while FREL manages $1.42 B.
What sectors do the FPRO and FREL ETFs invest in?
FPRO leans toward sectors like Real Estate. Meanwhile, FREL focuses on Real Estate.
What are the top holdings of the FPRO ETF and FREL ETF?
FPRO top holdings include PROLOGIS REIT, EQUINIX INC COMMON STOCK REIT and WELLTOWER INC. FREL holds in its top three: WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT.
Which ETF is more diversified: FPRO or FREL?
FPRO holds 110 securities with 74.92% 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 FPRO & 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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