IYRIvsFRELETF Comparison
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NEOS Real Estate High Income ETF (IYRI) belongs to the Options Strategies segment. Fidelity MSCI Real Estate Index ETF (FREL) is part of the US Real Estate segment. IYRI's top 3 sector exposures are Real Estate, Financials and Industrials. In contrast, FREL's top sector exposures are Real Estate, Industrials IYRI is more expensive with a Total Expense Ratio (TER) of 0.68%, versus 0.08% for FREL. IYRI is up 7.4% year-to-date (YTD) with +$100M in YTD flows. FREL performs better with 11.35% YTD performance, and +$254M in YTD flows. Run a side-by-side ETF comparison of IYRI 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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IYRI vs FREL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/12/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IYRI FREL | +1.33%+1.07% | +4.99%+6.53% | +7.40%+11.35% | +10.28%+12.27% | n/a+33.08% | n/a+12.17% |
| Flows | IYRI FREL | +$17M+$12M | +$41M-$10M | +$100M+$254M | +$230M+$299M | -+$235M | -+$14M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IYRI FREL | +12.73%+15.71% | +10.51%+13.59% | n/a+16.83% | n/a+18.91% |
| Max drawdown | IYRI FREL | -5.49%-5.78% | -7.54%-8.45% | n/a-17.46% | n/a-34.35% |
| Max drawdown duration | IYRI FREL | 24d22d | 46d44d | n/a441d | n/a1621d |
Trading data
IYRI | FREL | |
Last sale 6/12/2026 at 1:30 PM | $50.00 | $29.95 |
| Previous close 06/11/2026 | $49.58 | $29.65 |
| Consolidated volume 06/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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IYRI
is actively managed and doesn’t replicate an indexIYRI | 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 6/12/2026 at 1:30 PM
Live
Closed
IYRI | FREL | |
|---|---|---|
| Last price | $50.00 | $29.95 |
| 1D performance | +0.85% | +1.01% |
| AuM | $282.80 M | $1.47 B |
| E/R | 0.68% | 0.08% |
Characteristics
IYRI | FREL | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | NEOS Investment Management | Fidelity |
| Benchmark | - | MSCI USA IMI Real Estate 25/25 Index |
| N° of holdings | 57 | 113 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 14, 2025 | February 2, 2015 |
| ESG | No | No |
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Exposure
Countries
IYRI
USA
101.18%
Other
-1.18%
FREL
USA
99.66%
Other
0.34%
Sectors
IYRI
Real Estate
96.39%
Other
3.61%
FREL
Real Estate
95.81%
Other
4.19%
Diversification
IYRI
Total weight of top 15 holdings out of 15
64.59%
FREL
Total weight of top 15 holdings out of 15
57.66%
Top 15 holdings
Data as of April 30, 2026
IYRI
WELLTOWER INC
10.11%
PROLOGIS REIT
9.47%
EQUINIX INC COMMON STOCK REIT
5.36%
DIGITAL REALTY REIT
4.81%
SIMON PROPERTY GROUP REIT
4.65%
REALTY INCOME REIT
4.26%
AMERICAN TOWER CL A REIT
4.19%
PUBLIC STORAGE REIT
3.69%
CBRE GROUP
3.31%
VENTAS REIT
2.87%
CROWN CASTLE INTERNATIONAL
2.82%
IRON MOUNTAIN
2.55%
VICI PROPERTIES INC
2.33%
EXTRA SPACE STORAGE REIT
2.28%
AVALONBAY COMMUNITIES REIT
1.89%
FREL
WELLTOWER INC
8.45%
PROLOGIS REIT
8.20%
AMERICAN TOWER CL A REIT
5.16%
EQUINIX INC COMMON STOCK REIT
4.83%
SIMON PROPERTY GROUP REIT
4.30%
DIGITAL REALTY REIT
4.29%
REALTY INCOME REIT
3.67%
PUBLIC STORAGE REIT
3.17%
CBRE GROUP
2.86%
VENTAS REIT
2.53%
CROWN CASTLE INTERNATIONAL
2.39%
IRON MOUNTAIN
2.20%
VICI PROPERTIES INC
1.98%
EXTRA SPACE STORAGE REIT
1.97%
AVALONBAY COMMUNITIES REIT
1.65%
Frequently asked questions about IYRI and FREL
How have the IYRI and FREL ETFs performed in 2026?
As of June 12, 2026, IYRI is up 7.4% year-to-date (YTD), while FREL has returned 11.35%. That puts FREL better performer ahead so far this year.
Which ETF is attracting more investor money: IYRI or FREL?
Year-to-date, the IYRI ETF saw +$100M in flows, compared to +$254M for FREL.
Which ETF is more volatile: IYRI or FREL?
Over the past year, IYRI had a volatility of 10.51%, while FREL experienced 13.59%.
Which ETF is bigger: IYRI or FREL?
As of June 12, 2026, IYRI holds $282.80 M in assets under management (AUM), while FREL manages $1.47 B.
What sectors do the IYRI and FREL ETFs invest in?
IYRI leans toward sectors like Real Estate. Meanwhile, FREL focuses on Real Estate.
What are the top holdings of the IYRI ETF and FREL ETF?
IYRI top holdings include WELLTOWER INC, PROLOGIS REIT and EQUINIX INC COMMON STOCK REIT. FREL holds in its top three: WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT.
Which ETF is more diversified: IYRI or FREL?
IYRI holds 61 securities with 64.59% of its assets in the top 15. FREL has 127 securities and a top 15 weight of 57.66%.
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Latest news about IYRI & FREL
Two Ways to Get Real Estate Income with ETFs
August 2, 2024
FREL
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 Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
FREL
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