KBWYvsFRELETF Comparison
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Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Fidelity MSCI Real Estate Index ETF (FREL) belong to the same industry segment: US Real Estate. Both ETFs have the same top 3 sector exposures: and Real Estate. KBWY is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.08% for FREL. KBWY is up 11.42% year-to-date (YTD) with +$4M in YTD flows. FREL performs worse with 8.51% YTD performance, and +$252M in YTD flows. Run a side-by-side ETF comparison of KBWY 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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KBWY vs FREL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | KBWY FREL | +12.31%+8.38% | +6.76%+6.21% | +11.42%+8.51% | +18.58%+13.37% | +28.23%+30.68% | +6.95%+16.98% |
| Flows | KBWY FREL | +$198K-$15M | +$3M-$911K | +$4M+$252M | +$52M+$303M | +$85M+$168M | +$24M+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | KBWY FREL | +18.41%+14.83% | +16.52%+13.41% | +21.39%+16.98% | +21.63%+18.91% |
| Max drawdown | KBWY FREL | -9.31%-8.45% | -9.31%-8.45% | -29.86%-17.46% | -33.13%-34.35% |
| Max drawdown duration | KBWY FREL | 48d44d | 48d44d | 580d441d | 993d1573d |
Trading data
KBWY | FREL | |
Last sale 4/28/2026 at 6:56 PM | $16.77 | $28.91 |
| Previous close 04/27/2026 | $16.70 | $28.73 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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KBWY | 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 4/28/2026 at 6:56 PM
Live
Closed
KBWY | FREL | |
|---|---|---|
| Last price | $16.77 | $28.91 |
| 1D performance | +0.42% | +0.63% |
| AuM | $275.38 M | $1.43 B |
| E/R | 0.35% | 0.08% |
Characteristics
KBWY | FREL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Fidelity |
| Benchmark | KBW Nasdaq Premium Yield Equity REIT Index | MSCI USA IMI Real Estate 25/25 Index |
| N° of holdings | 26 | 113 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 2, 2010 | February 2, 2015 |
| ESG | No | No |
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Exposure
Countries
KBWY
USA
100%
Other
0%
FREL
USA
99.19%
Other
0.81%
Sectors
KBWY
Real Estate
83.61%
Other
16.39%
FREL
Real Estate
95.17%
Other
4.83%
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Diversification
KBWY
Total weight of top 15 holdings out of 15
59.64%
FREL
Total weight of top 15 holdings out of 15
57.23%
Top 15 holdings
Data as of March 31, 2026
KBWY
INNOVATIVE INDUSTRIAL PROPERTIES
6.61%
COMMUNITY HEALTHCARE TRUST INC
4.86%
US6011371027
4.13%
GLADSTONE COMMERCIAL REIT
4.05%
PARK HOTELS & RESORTS
3.91%
HIGHWOODS PROPERTIES REIT
3.90%
US37954A3032
3.87%
SL GREEN RLTY REIT
3.85%
GLOBAL NET LEASE
3.76%
ARMADA HOFFLER PROPERTIES INC
3.54%
APPLE HOSPITALITY REIT INC
3.52%
CTO REALTY GROWTH
3.47%
DOUGLAS EMMETT REIT
3.42%
US27616P3010
3.41%
RLJ LODGING REIT
3.34%
FREL
WELLTOWER INC
8.42%
PROLOGIS REIT
8.14%
AMERICAN TOWER CL A REIT
5.32%
EQUINIX INC COMMON STOCK REIT
4.80%
SIMON PROPERTY GROUP REIT
4.15%
DIGITAL REALTY REIT
4.09%
REALTY INCOME REIT
3.77%
PUBLIC STORAGE REIT
2.97%
CBRE GROUP
2.82%
VENTAS REIT
2.64%
CROWN CASTLE INTERNATIONAL
2.38%
IRON MOUNTAIN
2.09%
VICI PROPERTIES INC
2.02%
EXTRA SPACE STORAGE REIT
1.96%
AVALONBAY COMMUNITIES REIT
1.65%
Frequently asked questions about KBWY and FREL
How have the KBWY and FREL ETFs performed in 2026?
As of April 27, 2026, KBWY is up 11.42% year-to-date (YTD), while FREL has returned 8.51%. That puts KBWY better performer ahead so far this year.
Which ETF is attracting more investor money: KBWY or FREL?
Year-to-date, the KBWY ETF saw +$4M in flows, compared to +$252M for FREL.
Which ETF is more volatile: KBWY or FREL?
Over the past year, KBWY had a volatility of 16.52%, while FREL experienced 13.41%.
Which ETF is bigger: KBWY or FREL?
As of April 27, 2026, KBWY holds $275.38 M in assets under management (AUM), while FREL manages $1.43 B.
What sectors do the KBWY and FREL ETFs invest in?
KBWY leans toward sectors like Real Estate. Meanwhile, FREL focuses on Real Estate.
What are the top holdings of the KBWY ETF and FREL ETF?
KBWY top holdings include INNOVATIVE INDUSTRIAL PROPERTIES, COMMUNITY HEALTHCARE TRUST INC and US6011371027. FREL holds in its top three: WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT.
Which ETF is more diversified: KBWY or FREL?
KBWY holds 30 securities with 59.64% of its assets in the top 15. FREL has 127 securities and a top 15 weight of 57.23%.
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Latest news about KBWY & 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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