FRELvsFPROETF Comparison
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Fidelity MSCI Real Estate Index ETF (FREL) belongs to the US Real Estate segment. Fidelity Real Estate Investment ETF (FPRO) is part of the Uncategorized Equities segment. Both ETFs have the same top 3 sector exposures: Real Estate and Industrials. FREL is less expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.57% for FPRO. FREL is up 7.98% year-to-date (YTD) with +$257M in YTD flows. FPRO performs better with 12.81% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of FREL and FPRO 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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FREL vs FPRO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FREL FPRO | -0.28%+0.16% | +4.19%+9.18% | +7.98%+12.81% | +9.33%+10.97% | +28.72%+35.33% | +12.27%+16.46% |
| Flows | FREL FPRO | +$13M-$13K | -$9M+$2M | +$257M+$2M | +$301M+$123K | +$248M-$474K | +$197K+$3M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL FPRO | +16.40%+15.12% | +13.87%+13.86% | +16.90%+16.55% | +18.93%+18.81% |
| Max drawdown | FREL FPRO | -4.34%-3.57% | -8.45%-7.71% | -17.46%-16.55% | -34.35%-33.01% |
| Max drawdown duration | FREL FPRO | 20d49d | 44d44d | 441d511d | 1621d1565d |
Trading data
FREL | FPRO | |
Last sale 6/23/2026 at 3:10 PM | $29.38 | $24.72 |
| Previous close 06/22/2026 | $29.04 | $24.47 |
| Consolidated volume 06/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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FPRO
is actively managed and doesn’t replicate an indexFREL | FPRO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/23/2026 at 3:10 PM
Live
Closed
FREL | FPRO | |
|---|---|---|
| Last price | $29.38 | $24.72 |
| 1D performance | +1.17% | +1.01% |
| AuM | $1.43 B | $16.70 M |
| E/R | 0.084% | 0.57% |
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Exposure
Countries
FREL
USA
99.66%
Other
0.34%
FPRO
USA
99.88%
Other
0.12%
Sectors
FREL
Real Estate
95.81%
Other
4.19%
FPRO
Real Estate
98.49%
Other
1.51%
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Diversification
FREL
Total weight of top 15 holdings out of 15
57.66%
FPRO
Total weight of top 15 holdings out of 15
73.69%
Top 15 holdings
Data as of April 30, 2026
FREL
WELLTOWER INC
8.45%
PROLOGIS REIT
8.20%
AMERICAN TOWER CL A REIT
5.16%
EQUINIX INC COMMON STOCK REIT
4.83%
SIMON PROPERTY GROUP REIT
4.30%
DIGITAL REALTY REIT
4.29%
REALTY INCOME REIT
3.67%
PUBLIC STORAGE REIT
3.17%
CBRE GROUP
2.86%
VENTAS REIT
2.53%
CROWN CASTLE INTERNATIONAL
2.39%
IRON MOUNTAIN
2.20%
VICI PROPERTIES INC
1.98%
EXTRA SPACE STORAGE REIT
1.97%
AVALONBAY COMMUNITIES REIT
1.65%
FPRO
PROLOGIS REIT
9.68%
EQUINIX INC COMMON STOCK REIT
9.64%
WELLTOWER INC
8.87%
AMERICAN TOWER CL A REIT
8.17%
PUBLIC STORAGE REIT
4.20%
NATIONAL RETAIL PROPERTIES REIT
4.05%
DIGITAL REALTY REIT
3.83%
KIMCO REALTY REIT
3.72%
CBRE GROUP
3.67%
UDR REIT
3.61%
STAG INDUSTRIAL REIT
3.38%
IRON MOUNTAIN
3.08%
VENTAS REIT
2.75%
EQUITY RESIDENTIAL REIT
2.55%
REALTY INCOME REIT
2.50%
Frequently asked questions about FREL and FPRO
How have the FREL and FPRO ETFs performed in 2026?
As of June 18, 2026, FREL is up 7.98% year-to-date (YTD), while FPRO has returned 12.81%. That puts FPRO better performer ahead so far this year.
Which ETF is attracting more investor money: FREL or FPRO?
Year-to-date, the FREL ETF saw +$257M in flows, compared to +$2M for FPRO.
Which ETF is more volatile: FREL or FPRO?
Over the past year, FREL had a volatility of 13.87%, while FPRO experienced 13.86%.
Which ETF is bigger: FREL or FPRO?
As of June 18, 2026, FREL holds $1.43 B in assets under management (AUM), while FPRO manages $16.70 M.
What sectors do the FREL and FPRO ETFs invest in?
FREL leans toward sectors like Real Estate. Meanwhile, FPRO focuses on Real Estate.
What are the top holdings of the FREL ETF and FPRO ETF?
FREL top holdings include WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT. FPRO holds in its top three: PROLOGIS REIT, EQUINIX INC COMMON STOCK REIT and WELLTOWER INC.
Which ETF is more diversified: FREL or FPRO?
FREL holds 127 securities with 57.66% of its assets in the top 15. FPRO has 110 securities and a top 15 weight of 73.69%.
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Latest news about FREL & FPRO
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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