ICFvsFRELETF Comparison
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iShares Select U.S. REIT ETF (ICF) and Fidelity MSCI Real Estate Index ETF (FREL) belong to the same industry segment: US Real Estate. ICF's top 2 sector exposures are Finance and Non-Corporate. In contrast, FREL's top sector exposures are Finance and Technology. ICF is more expensive with a Total Expense Ratio (TER) of 0.32%, versus 0.084% for FREL. ICF is up 11.24% year-to-date (YTD) with -$129M in YTD flows. FREL performs worse with 8.43% YTD performance, and +$285M in YTD flows. Run a side-by-side ETF comparison of ICF 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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ICF vs FREL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ICF FREL | -4.73%-4.61% | -4.01%-2.82% | +11.24%+8.43% | +9.73%+5.39% | +31.24%+29.05% | +8.39%+6.80% |
| Flows | ICF FREL | -$47M+$24M | -$26M+$31M | -$129M+$285M | -$90M+$342M | -$567M+$311M | -$394M-$225M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ICF FREL | +14.17%+14.48% | +13.92%+13.70% | +16.79%+16.87% | +19.05%+18.95% |
| Max drawdown | ICF FREL | -6.63%-6.92% | -8.24%-8.45% | -17.30%-17.46% | -34.65%-34.35% |
| Max drawdown duration | ICF FREL | 47d48d | 44d44d | 513d441d | 1584d1621d |
Trading data
ICF | FREL | |
Last sale 9/15/2026 at 1:30 PM | $65.27 | $28.54 |
| Previous close 09/14/2026 | $65.81 | $28.61 |
| Consolidated volume 09/14/2026 | ||
| 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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ICF | FREL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 1:30 PM
Live
Closed
ICF | FREL | |
|---|---|---|
| Last price | $65.27 | $28.54 |
| 1D performance | -0.82% | -0.24% |
| AuM | $1.97 B | $1.45 B |
| E/R | 0.32% | 0.084% |
Characteristics
ICF | FREL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Fidelity |
| Benchmark | Cohen & Steers Realty Majors Portfolio Index | MSCI USA IMI Real Estate 25/25 Index |
| N° of holdings | 31 | 121 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 29, 2001 | February 2, 2015 |
| ESG | No | No |
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Exposure
Countries
ICF
USA
99.97%
Other
0.03%
FREL
USA
99.48%
Other
0.52%
Sectors
ICF
Finance
99.78%
Other
0.22%
FREL
Finance
98.47%
Other
1.53%
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Diversification
ICF
Total weight of top 15 holdings out of 15
73.8%
FREL
Total weight of top 15 holdings out of 15
57.46%
Top 15 holdings
Data as of July 31, 2026
ICF
Welltower, Inc.
8.45%
Prologis, Inc.
8.04%
Equinix, Inc.
7.51%
American Tower Corp.
6.95%
Simon Property Group, Inc.
6.38%
Public Storage
5.09%
Digital Realty Trust, Inc.
4.43%
Realty Income Corp.
4.42%
Ventas, Inc.
4.24%
Iron Mountain, Inc.
3.63%
Crown Castle, Inc.
3.27%
Extra Space Storage, Inc.
3.20%
VICI Properties, Inc.
2.91%
AvalonBay Communities, Inc.
2.78%
Equity Residential
2.48%
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%
Frequently asked questions about ICF and FREL
How have the ICF and FREL ETFs performed in 2026?
As of September 14, 2026, ICF is up 11.24% year-to-date (YTD), while FREL has returned 8.43%. That puts ICF better performer ahead so far this year.
Which ETF is attracting more investor money: ICF or FREL?
Year-to-date, the ICF ETF saw -$129M in flows, compared to +$285M for FREL.
Which ETF is more volatile: ICF or FREL?
Over the past year, ICF had a volatility of 13.92%, while FREL experienced 13.7%.
Which ETF is bigger: ICF or FREL?
As of September 14, 2026, ICF holds $1.97 B in assets under management (AUM), while FREL manages $1.45 B.
What sectors do the ICF and FREL ETFs invest in?
ICF leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.
What are the top holdings of the ICF ETF and FREL ETF?
ICF top holdings include Welltower, Inc., Prologis, Inc. and Equinix, Inc.. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: ICF or FREL?
ICF holds 31 securities with 73.8% of its assets in the top 15. FREL has 122 securities and a top 15 weight of 57.46%.
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Latest news about ICF & FREL
Two Ways to Get Real Estate Income with ETFs
August 2, 2024
FREL
Real Estate Sector Declines on Fed Minutes
May 27, 2024
ICF
FREL
Real Estate Sector Suffers Third Weekly Loss Amid Rising Treasury Yields
April 22, 2024
FREL
Real Estate Sector Hit by Stronger-Than-Expected Inflation Data
March 19, 2024
ICF
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Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
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