FRELvsRWRETF Comparison
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Fidelity MSCI Real Estate Index ETF (FREL) and State Street SPDR Dow Jones REIT ETF (RWR) belong to the same industry segment: US Real Estate. FREL's top 2 sector exposures are Finance and Technology. In contrast, RWR's top sector exposures are Finance. FREL is less expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.25% for RWR. FREL is up 10.26% year-to-date (YTD) with +$244M in YTD flows. RWR performs better with 14.56% YTD performance, and -$44M in YTD flows. Run a side-by-side ETF comparison of FREL and RWR 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 RWR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FREL RWR | +6.80%+5.56% | -3.17%-4.33% | +10.26%+14.56% | +10.58%+15.45% | +37.53%+46.36% | +4.37%+13.34% |
| Flows | FREL RWR | -$11M-$10M | -$17M-$18M | +$244M-$44M | +$276M+$4M | +$285M+$200M | -$353M+$9M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL RWR | +13.52%+13.01% | +13.94%+14.01% | +16.36%+16.60% | +18.98%+19.09% |
| Max drawdown | FREL RWR | -9.99%-10.23% | -11.58%-12.71% | -17.46%-18.77% | -34.35%-32.62% |
| Max drawdown duration | FREL RWR | 70d92d | 98d100d | 441d434d | 1621d1499d |
Trading data
FREL | RWR | |
Last sale 11/3/2026 at 2:30 PM | $28.84 | $109.80 |
| Previous close 11/03/2026 | $28.86 | $109.73 |
| Consolidated volume 11/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
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FREL | RWR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/3/2026 at 2:30 PM
Live
Closed
FREL | RWR | |
|---|---|---|
| Last price | $28.84 | $109.80 |
| 1D performance | -0.07% | +0.06% |
| AuM | $1.41 B | $1.85 B |
| E/R | 0.084% | 0.25% |
Characteristics
FREL | RWR | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | State Street Investment Management |
| Benchmark | MSCI USA IMI Real Estate 25/25 Index | Dow Jones U.S. Select REIT Capped Index |
| N° of holdings | 117 | 97 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 2, 2015 | April 23, 2001 |
| ESG | No | No |
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Exposure
Countries
FREL
USA
99.8%
Other
0.2%
RWR
USA
99.34%
Other
0.66%
Sectors
FREL
Finance
98.78%
Other
1.22%
RWR
Finance
99.34%
Other
0.66%
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Diversification
FREL
Total weight of top 15 holdings out of 15
60.3%
RWR
Total weight of top 15 holdings out of 15
61.73%
Top 15 holdings
Data as of September 30, 2026
FREL
Welltower, Inc.
9.86%
Prologis, Inc.
7.93%
Equinix, Inc.
5.71%
American Tower Corp.
4.69%
Simon Property Group, Inc.
4.51%
Digital Realty Trust, Inc.
4.11%
Realty Income Corp.
3.47%
Public Storage
3.35%
Equity Residential
3.08%
Ventas, Inc.
2.76%
CBRE Group, Inc.
2.75%
Iron Mountain, Inc.
2.29%
Crown Castle, Inc.
2.05%
Extra Space Storage, Inc.
1.98%
VICI Properties, Inc.
1.76%
RWR
Welltower, Inc.
10.15%
Prologis, Inc.
9.95%
Simon Property Group, Inc.
4.59%
Equinix, Inc.
4.54%
Public Storage
4.49%
Ventas, Inc.
4.44%
Equity Residential
4.38%
Digital Realty Trust, Inc.
4.34%
Realty Income Corp.
4.23%
Extra Space Storage, Inc.
2.83%
Essex Property Trust, Inc.
1.76%
Host Hotels & Resorts, Inc.
1.56%
Kimco Realty Corp.
1.52%
W.P. Carey, Inc.
1.50%
Invitation Homes, Inc.
1.44%
Frequently asked questions about FREL and RWR
How have the FREL and RWR ETFs performed in 2026?
As of November 3, 2026, FREL is up 10.26% year-to-date (YTD), while RWR has returned 14.56%. That puts RWR better performer ahead so far this year.
Which ETF is attracting more investor money: FREL or RWR?
Year-to-date, the FREL ETF saw +$244M in flows, compared to -$44M for RWR.
Which ETF is more volatile: FREL or RWR?
Over the past year, FREL had a volatility of 13.94%, while RWR experienced 14.01%.
Which ETF is bigger: FREL or RWR?
As of November 3, 2026, FREL holds $1.41 B in assets under management (AUM), while RWR manages $1.85 B.
What sectors do the FREL and RWR ETFs invest in?
FREL leans toward sectors like Finance. Meanwhile, RWR focuses on Finance.
What are the top holdings of the FREL ETF and RWR ETF?
FREL top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. RWR holds in its top three: Welltower, Inc., Prologis, Inc. and Simon Property Group, Inc..
Which ETF is more diversified: FREL or RWR?
FREL holds 118 securities with 60.3% of its assets in the top 15. RWR has 97 securities and a top 15 weight of 61.73%.
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Latest news about FREL & RWR
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
RWR
Real Estate ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
RWR
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Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
RWR
Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
RWR
Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
RWR
Real Estate Funds Plunge Again Amid Spike in Interest Rates
October 24, 2023
RWR
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