FRIvsUSRTETF Comparison
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First Trust S&P REIT Index Fund ETF (FRI) and iShares Core U.S. REIT ETF (USRT) belong to the same industry segment: US Real Estate. Both ETFs have the same top 3 sector exposures: and Real Estate. FRI is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.08% for USRT. FRI is up 13.39% year-to-date (YTD) with -$3M in YTD flows. USRT performs better with 13.75% YTD performance, and +$36M in YTD flows. Run a side-by-side ETF comparison of FRI 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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FRI vs USRT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FRI USRT | +10.21%+10.65% | +10.20%+10.43% | +13.39%+13.75% | +18.47%+18.67% | +38.83%+39.96% | +30.10%+32.35% |
| Flows | FRI USRT | -$3M-$3M | -$8M+$97M | -$3M+$36M | -$4M+$445M | +$10M+$1.18B | +$68M+$1.27B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FRI USRT | +14.23%+14.81% | +13.25%+13.64% | +16.99%+17.06% | +18.98%+18.97% |
| Max drawdown | FRI USRT | -7.64%-8.02% | -7.64%-8.02% | -18.74%-18.73% | -31.41%-30.96% |
| Max drawdown duration | FRI USRT | 44d44d | 44d44d | 434d434d | 1496d985d |
Trading data
FRI | USRT | |
Last sale 4/30/2026 at 7:59 PM | $30.88 | $64.70 |
| Previous close 04/29/2026 | $30.41 | $64.59 |
| 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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FRI | 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 4/30/2026 at 7:59 PM
Live
Closed
FRI | USRT | |
|---|---|---|
| Last price | $30.88 | $64.70 |
| 1D performance | +1.55% | +0.17% |
| AuM | $165.19 M | $3.77 B |
| E/R | 0.49% | 0.08% |
Characteristics
FRI | USRT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | First Trust | iShares |
| Benchmark | S&P United States REIT Index | FTSE Nareit Equity REITs 40 Act Capped Index |
| N° of holdings | 112 | 110 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 8, 2007 | May 1, 2007 |
| ESG | No | No |
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Exposure
Countries
FRI
USA
96.29%
Other
3.71%
USRT
USA
99.53%
Other
0.47%
Sectors
FRI
Real Estate
93.43%
Other
6.57%
USRT
Real Estate
96.01%
Other
3.99%
Diversification
FRI
Total weight of top 15 holdings out of 15
60.4%
USRT
Total weight of top 15 holdings out of 15
58.55%
Top 15 holdings
Data as of March 31, 2026
FRI
WELLTOWER INC
11.30%
PROLOGIS REIT
10.09%
SIMON PROPERTY GROUP REIT
4.86%
EQUINIX INC COMMON STOCK REIT
4.84%
DIGITAL REALTY REIT
4.75%
REALTY INCOME REIT
4.64%
PUBLIC STORAGE REIT
3.55%
VENTAS REIT
3.17%
IRON MOUNTAIN
2.43%
VICI PROPERTIES INC
2.39%
EXTRA SPACE STORAGE REIT
2.29%
AVALONBAY COMMUNITIES REIT
1.90%
EQUITY RESIDENTIAL REIT
1.67%
ESSEX PROPERTY REIT
1.28%
WP CAREY INC
1.24%
USRT
WELLTOWER INC
8.38%
PROLOGIS REIT
7.83%
EQUINIX INC COMMON STOCK REIT
6.54%
DIGITAL REALTY REIT
4.63%
SIMON PROPERTY GROUP REIT
4.57%
REALTY INCOME REIT
4.30%
PUBLIC STORAGE REIT
3.77%
VENTAS REIT
3.52%
IRON MOUNTAIN
2.75%
VICI PROPERTIES INC
2.68%
EXTRA SPACE STORAGE REIT
2.54%
AVALONBAY COMMUNITIES REIT
2.14%
EQUITY RESIDENTIAL REIT
2.06%
SUN COMMUNITIES REIT
1.42%
ESSEX PROPERTY REIT
1.42%
Frequently asked questions about FRI and USRT
How have the FRI and USRT ETFs performed in 2026?
As of April 30, 2026, FRI is up 13.39% year-to-date (YTD), while USRT has returned 13.75%. That puts USRT better performer ahead so far this year.
Which ETF is attracting more investor money: FRI or USRT?
Year-to-date, the FRI ETF saw -$3M in flows, compared to +$36M for USRT.
Which ETF is more volatile: FRI or USRT?
Over the past year, FRI had a volatility of 13.25%, while USRT experienced 13.64%.
Which ETF is bigger: FRI or USRT?
As of April 30, 2026, FRI holds $165.19 M in assets under management (AUM), while USRT manages $3.77 B.
What sectors do the FRI and USRT ETFs invest in?
FRI leans toward sectors like Real Estate. Meanwhile, USRT focuses on Real Estate.
What are the top holdings of the FRI ETF and USRT ETF?
FRI top holdings include WELLTOWER INC, PROLOGIS REIT and SIMON PROPERTY GROUP REIT. USRT holds in its top three: WELLTOWER INC, PROLOGIS REIT and EQUINIX INC COMMON STOCK REIT.
Which ETF is more diversified: FRI or USRT?
FRI holds 128 securities with 60.4% of its assets in the top 15. USRT has 128 securities and a top 15 weight of 58.55%.
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