FRELvsUSRTETF Comparison
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Fidelity MSCI Real Estate Index ETF (FREL) and iShares Core U.S. REIT ETF (USRT) belong to the same industry segment: US Real Estate. FREL's top 2 sector exposures are Finance and Technology. In contrast, USRT's top sector exposures are Finance and Non-Corporate. FREL is more expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.08% for USRT. FREL is up 6.82% year-to-date (YTD) with +$285M in YTD flows. USRT performs better with 12.16% YTD performance, and +$748M in YTD flows. Run a side-by-side ETF comparison of FREL and USRT 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 USRT 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 USRT | -4.83%-5.00% | -2.01%-2.11% | +6.82%+12.16% | +4.22%+11.05% | +28.82%+37.03% | +6.27%+21.47% |
| Flows | FREL USRT | +$21M-$6M | +$28M+$284M | +$285M+$748M | +$338M+$991M | +$311M+$1.79B | -$230M+$1.81B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL USRT | +13.66%+13.55% | +13.71%+13.64% | +16.85%+16.91% | +18.95%+18.93% |
| Max drawdown | FREL USRT | -8.08%-9.32% | -8.45%-9.32% | -17.46%-18.73% | -34.35%-30.96% |
| Max drawdown duration | FREL USRT | 52d54d | 44d54d | 441d434d | 1621d985d |
Trading data
FREL | USRT | |
Last sale 9/18/2026 at 1:30 PM | $27.93 | $62.80 |
| Previous close 09/17/2026 | $28.43 | $63.43 |
| 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 | USRT | |
|---|---|---|
| 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 | USRT | |
|---|---|---|
| Last price | $27.93 | $62.80 |
| 1D performance | -1.76% | -0.99% |
| AuM | $1.41 B | $4.35 B |
| E/R | 0.084% | 0.08% |
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Exposure
Countries
FREL
USA
99.48%
Other
0.52%
USRT
USA
100.14%
Other
-0.14%
Sectors
FREL
Finance
98.47%
Other
1.53%
USRT
Finance
99.89%
Other
0.11%
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Diversification
FREL
Total weight of top 15 holdings out of 15
57.46%
USRT
Total weight of top 15 holdings out of 15
58.54%
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%
USRT
Welltower, Inc.
9.03%
Prologis, Inc.
7.53%
Equinix, Inc.
6.14%
Digital Realty Trust, Inc.
4.64%
Simon Property Group, Inc.
4.64%
Realty Income Corp.
4.24%
Public Storage
4.10%
Ventas, Inc.
3.56%
Iron Mountain, Inc.
2.95%
Extra Space Storage, Inc.
2.48%
VICI Properties, Inc.
2.28%
AvalonBay Communities, Inc.
2.09%
Equity Residential
2.00%
Essex Property Trust, Inc.
1.44%
Invitation Homes, Inc.
1.41%
Frequently asked questions about FREL and USRT
How have the FREL and USRT ETFs performed in 2026?
As of September 18, 2026, FREL is up 6.82% year-to-date (YTD), while USRT has returned 12.16%. That puts USRT better performer ahead so far this year.
Which ETF is attracting more investor money: FREL or USRT?
Year-to-date, the FREL ETF saw +$285M in flows, compared to +$748M for USRT.
Which ETF is more volatile: FREL or USRT?
Over the past year, FREL had a volatility of 13.71%, while USRT experienced 13.64%.
Which ETF is bigger: FREL or USRT?
As of September 18, 2026, FREL holds $1.41 B in assets under management (AUM), while USRT manages $4.35 B.
What sectors do the FREL and USRT ETFs invest in?
FREL leans toward sectors like Finance. Meanwhile, USRT focuses on Finance.
What are the top holdings of the FREL ETF and USRT ETF?
FREL top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. USRT holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: FREL or USRT?
FREL holds 122 securities with 57.46% of its assets in the top 15. USRT has 125 securities and a top 15 weight of 58.54%.
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Latest news about FREL & USRT
Two Ways to Get Real Estate Income with ETFs
August 2, 2024
FREL
USRT
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 ETFs Hit Again by the Rise in Treasury Yields
April 15, 2024
USRT
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Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
USRT
Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
USRT
Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
USRT
REIT ETFs: Active Management or Passive Indexing?
March 13, 2023
USRT
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