FRELvsIYRETF Comparison
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Fidelity MSCI Real Estate Index ETF (FREL) and iShares U.S. Real Estate ETF (IYR) belong to the same industry segment: US Real Estate. FREL's top 2 sector exposures are Finance and Technology. In contrast, IYR's top sector exposures are Finance, Technology and Non-Corporate. FREL is less expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.37% for IYR. FREL is up 6.82% year-to-date (YTD) with +$285M in YTD flows. IYR performs worse with 6% YTD performance, and -$376M in YTD flows. Run a side-by-side ETF comparison of FREL and IYR 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 IYR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FREL IYR | -4.83%-4.80% | -2.01%-1.71% | +6.82%+6.00% | +4.22%+3.90% | +28.82%+27.19% | +6.27%+5.64% |
| Flows | FREL IYR | +$21M-$195M | +$28M-$540M | +$285M-$376M | +$338M+$404M | +$311M+$1.02B | -$230M-$2.64B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL IYR | +13.66%+13.76% | +13.71%+13.75% | +16.85%+16.74% | +18.95%+18.80% |
| Max drawdown | FREL IYR | -8.08%-7.86% | -8.45%-8.50% | -17.46%-16.75% | -34.35%-33.67% |
| Max drawdown duration | FREL IYR | 52d52d | 44d44d | 441d514d | 1621d1621d |
Trading data
FREL | IYR | |
Last sale 9/18/2026 at 1:30 PM | $27.93 | $98.00 |
| Previous close 09/17/2026 | $28.43 | $98.94 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FREL | IYR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/18/2026 at 1:30 PM
Live
Closed
FREL | IYR | |
|---|---|---|
| Last price | $27.93 | $98.00 |
| 1D performance | -1.76% | -0.95% |
| AuM | $1.41 B | $4.13 B |
| E/R | 0.084% | 0.37% |
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Exposure
Countries
FREL
USA
99.48%
Other
0.52%
IYR
USA
100.18%
Other
-0.18%
Sectors
FREL
Finance
98.47%
Other
1.53%
IYR
Finance
98.59%
Other
1.41%
Diversification
FREL
Total weight of top 15 holdings out of 15
57.46%
IYR
Total weight of top 15 holdings out of 15
63.64%
Top 15 holdings
Data as of July 31, 2026
FREL
Welltower, Inc.
9.25%
Prologis, Inc.
7.92%
Equinix, Inc.
5.21%
Simon Property Group, Inc.
4.74%
American Tower Corp.
3.98%
Digital Realty Trust, Inc.
3.96%
Realty Income Corp.
3.66%
Public Storage
3.42%
Ventas, Inc.
2.79%
CBRE Group, Inc.
2.70%
Iron Mountain, Inc.
2.30%
Crown Castle, Inc.
2.03%
Extra Space Storage, Inc.
2.01%
VICI Properties, Inc.
1.81%
AvalonBay Communities, Inc.
1.69%
IYR
Welltower, Inc.
10.88%
Prologis, Inc.
9.12%
Digital Realty Trust, Inc.
4.81%
Simon Property Group, Inc.
4.76%
Equinix, Inc.
4.43%
Realty Income Corp.
4.30%
American Tower Corp.
3.98%
Public Storage
3.81%
Ventas, Inc.
3.20%
CBRE Group, Inc.
3.13%
Iron Mountain, Inc.
2.65%
Crown Castle, Inc.
2.39%
Extra Space Storage, Inc.
2.24%
VICI Properties, Inc.
2.06%
AvalonBay Communities, Inc.
1.87%
Frequently asked questions about FREL and IYR
How have the FREL and IYR ETFs performed in 2026?
As of September 18, 2026, FREL is up 6.82% year-to-date (YTD), while IYR has returned 6%. That puts FREL better performer ahead so far this year.
Which ETF is attracting more investor money: FREL or IYR?
Year-to-date, the FREL ETF saw +$285M in flows, compared to -$376M for IYR.
Which ETF is more volatile: FREL or IYR?
Over the past year, FREL had a volatility of 13.71%, while IYR experienced 13.75%.
Which ETF is bigger: FREL or IYR?
As of September 18, 2026, FREL holds $1.41 B in assets under management (AUM), while IYR manages $4.13 B.
What sectors do the FREL and IYR ETFs invest in?
FREL leans toward sectors like Finance. Meanwhile, IYR focuses on Finance.
What are the top holdings of the FREL ETF and IYR ETF?
FREL top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. IYR holds in its top three: Welltower, Inc., Prologis, Inc. and Digital Realty Trust, Inc..
Which ETF is more diversified: FREL or IYR?
FREL holds 122 securities with 57.46% of its assets in the top 15. IYR has 62 securities and a top 15 weight of 63.64%.
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Latest news about FREL & IYR
Exploring Sector Rotation: Value vs. Growth
August 5, 2024
IYR
Two Ways to Get Real Estate Income with ETFs
August 2, 2024
FREL
Real Estate Sector Declines on Fed Minutes
May 27, 2024
FREL
IYR
Real Estate Sector Suffers Third Weekly Loss Amid Rising Treasury Yields
April 22, 2024
FREL
IYR
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Real Estate ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
IYR
Real Estate ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
IYR
Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
IYR
Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
IYR
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