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IATvsFRELETF Comparison

ETF 1

IAT

iShares U.S. Regional Banks ETF

This fund is part of

US Financials

-1.13%

Full IAT fund page

VS

ETF 2

FREL

Fidelity MSCI Real Estate Index ETF

This fund is part of

US Real Estate

+0.11%

Full FREL fund page

iShares U.S. Regional Banks ETF (IAT) belongs to the US Financials segment. Fidelity MSCI Real Estate Index ETF (FREL) is part of the US Real Estate segment. IAT's top 2 sector exposures are Finance and Non-Corporate. In contrast, FREL's top sector exposures are Finance and Technology. IAT is more expensive with a Total Expense Ratio (TER) of 0.37%, versus 0.084% for FREL. IAT is up 10.05% year-to-date (YTD) with +$9M in YTD flows. FREL performs worse with 7.53% YTD performance, and +$247M in YTD flows. Run a side-by-side ETF comparison of IAT and FREL 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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IAT vs FREL performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/22/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	IAT FREL	+1.59%+1.51%	-6.19%-5.33%	+10.05%+7.53%	+23.97%+4.12%	+111.20%+45.14%	+5.82%+2.85%
Flows	IAT FREL	+$9M-$38M	+$3M-$19M	+$9M+$247M	-$33M+$282M	-$281M+$282M	-$504M-$327M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	IAT FREL	+17.00%+13.25%	+20.44%+14.05%	+25.39%+16.58%	+28.54%+18.96%
Max drawdown	IAT FREL	-13.57%-11.58%	-17.47%-11.58%	-29.31%-17.46%	-55.51%-34.35%
Max drawdown duration	IAT FREL	67d87d	136d87d	379d441d	1478d1621d

Trading data

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	IAT	FREL
Last sale 10/23/2026 at 1:30 PM	$59.67	$28.15
Previous close 10/22/2026	$59.60	$28.14
Consolidated volume 10/22/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

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	IAT	FREL
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/23/2026 at 1:30 PM

Live

Closed

	IAT	FREL
Last price	$59.67	$28.15
1D performance	+0.12%	+0.04%
AuM	$637.65 M	$1.38 B
E/R	0.37%	0.084%

Characteristics

	IAT	FREL
Management strategy	Passive	Passive
Provider	iShares	Fidelity
Benchmark	Dow Jones U.S. Select Regional Banks Index	MSCI USA IMI Real Estate 25/25 Index
N° of holdings	31	117
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	May 1, 2006	February 2, 2015
ESG	No	No

More IAT data on Trackinsight

More FREL data on Trackinsight

Exposure

Countries

IAT

USA

98.05%

Other

1.95%

FREL

USA

99.78%

Other

0.22%

Sectors

IAT

Finance

99.85%

Other

0.15%

FREL

Finance

98.65%

Other

1.35%

Diversification

IAT

Total weight of top 15 holdings out of 15

81.76%

FREL

Total weight of top 15 holdings out of 15

60%

Top 15 holdings

Data as of August 31, 2026

IAT

The PNC Financial Services Group, Inc.

15.08%

U.S. Bancorp

14.98%

Truist Financial Corp.

9.68%

Fifth Third Bancorp

6.32%

Citizens Financial Group, Inc. (Rhode Island)

4.70%

M&T Bank Corp.

4.64%

Huntington Bancshares, Inc.

4.40%

Regions Financial Corp.

4.29%

First Citizens BancShares, Inc. (North Carolina)

3.39%

KeyCorp

3.35%

East West Bancorp, Inc.

2.92%

Pinnacle Financial Partners, Inc.

2.53%

First Horizon Corp. (Tennessee)

1.94%

Popular, Inc.

1.83%

SouthState Bank Corp.

1.72%

FREL

Welltower, Inc.

9.53%

Prologis, Inc.

7.88%

Equinix, Inc.

5.51%

American Tower Corp.

4.58%

Simon Property Group, Inc.

4.44%

Digital Realty Trust, Inc.

4.02%

Realty Income Corp.

3.64%

Public Storage

3.42%

Equity Residential

3.09%

CBRE Group, Inc.

2.91%

Ventas, Inc.

2.74%

Iron Mountain, Inc.

2.27%

Crown Castle, Inc.

2.15%

Extra Space Storage, Inc.

1.99%

VICI Properties, Inc.

1.82%

Frequently asked questions about IAT and FREL

How have the IAT and FREL ETFs performed in 2026?

As of October 22, 2026, IAT is up 10.05% year-to-date (YTD), while FREL has returned 7.53%. That puts IAT better performer ahead so far this year.

Which ETF is attracting more investor money: IAT or FREL?

Year-to-date, the IAT ETF saw +$9M in flows, compared to +$247M for FREL.

Which ETF is more volatile: IAT or FREL?

Over the past year, IAT had a volatility of 20.44%, while FREL experienced 14.05%.

Which ETF is bigger: IAT or FREL?

As of October 22, 2026, IAT holds $637.65 M in assets under management (AUM), while FREL manages $1.38 B.

What sectors do the IAT and FREL ETFs invest in?

IAT leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.

What are the top holdings of the IAT ETF and FREL ETF?

IAT top holdings include The PNC Financial Services Group, Inc., U.S. Bancorp and Truist Financial Corp.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..

IATvsFRELETF Comparison

iShares U.S. Regional Banks ETF

Fidelity MSCI Real Estate Index ETF

IAT vs FREL performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the IAT and FREL ETFs performed in 2026?

As of October 22, 2026, IAT is up 10.05% year-to-date (YTD), while FREL has returned 7.53%. That puts IAT better performer ahead so far this year.

Which ETF is attracting more investor money: IAT or FREL?

Year-to-date, the IAT ETF saw +$9M in flows, compared to +$247M for FREL.

Which ETF is more volatile: IAT or FREL?

Over the past year, IAT had a volatility of 20.44%, while FREL experienced 14.05%.

Which ETF is bigger: IAT or FREL?

As of October 22, 2026, IAT holds $637.65 M in assets under management (AUM), while FREL manages $1.38 B.

What sectors do the IAT and FREL ETFs invest in?

IAT leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.

What are the top holdings of the IAT ETF and FREL ETF?

IAT top holdings include The PNC Financial Services Group, Inc., U.S. Bancorp and Truist Financial Corp.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..

Which ETF is more diversified: IAT or FREL?

IAT holds 31 securities with 81.76% of its assets in the top 15. FREL has 118 securities and a top 15 weight of 60%.

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