FRELvsVNQETF Comparison
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Fidelity MSCI Real Estate Index ETF (FREL) and Vanguard Real Estate ETF (VNQ) belong to the same industry segment: US Real Estate. FREL's top 2 sector exposures are Finance and Technology. In contrast, VNQ's top sector exposures are Finance, Technology and Consumer Services. FREL is less expensive with a Total Expense Ratio (TER) of 0.084%, versus 0.13% for VNQ. FREL is up 6.82% year-to-date (YTD) with +$285M in YTD flows. VNQ performs better with 7.13% YTD performance, and +$1.34B in YTD flows. Run a side-by-side ETF comparison of FREL and VNQ 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 VNQ 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 VNQ | -4.83%-4.74% | -2.01%-1.88% | +6.82%+7.13% | +4.22%+4.66% | +28.82%+29.15% | +6.27%+6.43% |
| Flows | FREL VNQ | +$21M+$38M | +$28M+$472M | +$285M+$1.34B | +$338M+$1.99B | +$311M+$854M | -$230M-$668M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FREL VNQ | +13.66%+13.55% | +13.71%+13.63% | +16.85%+16.72% | +18.95%+18.86% |
| Max drawdown | FREL VNQ | -8.08%-7.88% | -8.45%-8.32% | -17.46%-17.41% | -34.35%-34.43% |
| Max drawdown duration | FREL VNQ | 52d52d | 44d44d | 441d441d | 1621d1621d |
Trading data
FREL | VNQ | |
Last sale 9/18/2026 at 1:30 PM | $27.93 | $92.91 |
| Previous close 09/17/2026 | $28.43 | $93.81 |
| 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 | VNQ | |
|---|---|---|
| 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 | VNQ | |
|---|---|---|
| Last price | $27.93 | $92.91 |
| 1D performance | -1.76% | -0.96% |
| AuM | $1.41 B | $36.87 B |
| E/R | 0.084% | 0.13% |
Characteristics
FREL | VNQ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | Vanguard |
| Benchmark | MSCI USA IMI Real Estate 25/25 Index | MSCI US Investable Market Real Estate 25/50 Transition Index |
| N° of holdings | 121 | 138 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 2, 2015 | September 23, 2004 |
| ESG | No | No |
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Exposure
Countries
FREL
USA
99.48%
Other
0.52%
VNQ
USA
98.72%
Other
1.28%
Sectors
FREL
Finance
98.47%
Other
1.53%
VNQ
Finance
97.77%
Other
2.23%
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Diversification
FREL
Total weight of top 15 holdings out of 15
57.46%
VNQ
Total weight of top 15 holdings out of 15
58.79%
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%
VNQ
Welltower, Inc.
9.90%
Prologis, Inc.
8.15%
Equinix, Inc.
6.08%
American Tower Corp.
4.88%
Simon Property Group, Inc.
4.50%
Digital Realty Trust, Inc.
3.91%
Realty Income Corp.
3.58%
Public Storage
3.23%
Ventas, Inc.
2.69%
CBRE Group, Inc.
2.62%
Iron Mountain, Inc.
2.20%
Crown Castle, Inc.
2.01%
Extra Space Storage, Inc.
1.89%
VICI Properties, Inc.
1.59%
AvalonBay Communities, Inc.
1.56%
Frequently asked questions about FREL and VNQ
How have the FREL and VNQ ETFs performed in 2026?
As of September 18, 2026, FREL is up 6.82% year-to-date (YTD), while VNQ has returned 7.13%. That puts VNQ better performer ahead so far this year.
Which ETF is attracting more investor money: FREL or VNQ?
Year-to-date, the FREL ETF saw +$285M in flows, compared to +$1.34B for VNQ.
Which ETF is more volatile: FREL or VNQ?
Over the past year, FREL had a volatility of 13.71%, while VNQ experienced 13.63%.
Which ETF is bigger: FREL or VNQ?
As of September 18, 2026, FREL holds $1.41 B in assets under management (AUM), while VNQ manages $36.87 B.
What sectors do the FREL and VNQ ETFs invest in?
FREL leans toward sectors like Finance. Meanwhile, VNQ focuses on Finance.
What are the top holdings of the FREL ETF and VNQ ETF?
FREL top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. VNQ holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: FREL or VNQ?
FREL holds 122 securities with 57.46% of its assets in the top 15. VNQ has 139 securities and a top 15 weight of 58.79%.
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