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 3 sector exposures are Real Estate and Industrials. In contrast, RWR's top sector exposures are Real Estate FREL is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.25% for RWR. FREL is up 9.68% year-to-date (YTD) with +$242M in YTD flows. RWR performs better with 12.09% YTD performance, and -$119M 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 04/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FREL RWR | +10.18%+7.67% | +6.87%+10.03% | +9.68%+12.09% | +12.91%+17.94% | +31.05%+38.09% | +17.09%+28.39% |
| Flows | FREL RWR | -$27M-$72M | -$21M-$39M | +$242M-$119M | +$289M-$295M | +$165M+$71M | +$78M-$30M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL RWR | +14.93%+14.67% | +13.53%+13.74% | +16.94%+17.15% | +18.92%+19.11% |
| Max drawdown | FREL RWR | -8.45%-8.09% | -8.45%-8.09% | -17.46%-18.77% | -34.35%-32.62% |
| Max drawdown duration | FREL RWR | 44d44d | 44d44d | 441d434d | 1579d1499d |
Trading data
FREL | RWR | |
Last sale 5/1/2026 at 1:30 PM | $29.15 | $109.38 |
| Previous close 04/29/2026 | $29.21 | $109.59 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 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 5/1/2026 at 1:30 PM
Live
Closed
FREL | RWR | |
|---|---|---|
| Last price | $29.15 | $109.38 |
| 1D performance | -0.21% | -0.19% |
| AuM | $1.43 B | $1.77 B |
| E/R | 0.08% | 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 | 113 | 89 |
| 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
99.19%
Other
0.81%
RWR
USA
98.8%
Other
1.2%
Sectors
FREL
Real Estate
95.17%
Other
4.83%
RWR
Real Estate
96.2%
Other
3.8%
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Diversification
FREL
Total weight of top 15 holdings out of 15
57.23%
RWR
Total weight of top 15 holdings out of 15
60.51%
Top 15 holdings
Data as of March 31, 2026
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%
RWR
PROLOGIS REIT
10.12%
WELLTOWER INC
9.91%
EQUINIX INC COMMON STOCK REIT
4.66%
DIGITAL REALTY REIT
4.62%
SIMON PROPERTY GROUP REIT
4.56%
REALTY INCOME REIT
4.38%
PUBLIC STORAGE REIT
4.18%
VENTAS REIT
4.12%
EXTRA SPACE STORAGE REIT
2.95%
AVALONBAY COMMUNITIES REIT
2.46%
EQUITY RESIDENTIAL REIT
2.16%
ESSEX PROPERTY REIT
1.66%
KIMCO REALTY REIT
1.61%
WP CAREY INC
1.58%
SUN COMMUNITIES REIT
1.55%
Frequently asked questions about FREL and RWR
How have the FREL and RWR ETFs performed in 2026?
As of April 30, 2026, FREL is up 9.68% year-to-date (YTD), while RWR has returned 12.09%. 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 +$242M in flows, compared to -$119M for RWR.
Which ETF is more volatile: FREL or RWR?
Over the past year, FREL had a volatility of 13.53%, while RWR experienced 13.74%.
Which ETF is bigger: FREL or RWR?
As of April 30, 2026, FREL holds $1.43 B in assets under management (AUM), while RWR manages $1.77 B.
What sectors do the FREL and RWR ETFs invest in?
FREL leans toward sectors like Real Estate. Meanwhile, RWR focuses on Real Estate.
What are the top holdings of the FREL ETF and RWR ETF?
FREL top holdings include WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT. RWR holds in its top three: PROLOGIS REIT, WELLTOWER INC and EQUINIX INC COMMON STOCK REIT.
Which ETF is more diversified: FREL or RWR?
FREL holds 127 securities with 57.23% of its assets in the top 15. RWR has 99 securities and a top 15 weight of 60.51%.
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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
RWR
Real Estate Funds Plunge Again Amid Spike in Interest Rates
October 24, 2023
RWR
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