REZvsFRELETF Comparison
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iShares Residential and Multisector Real Estate ETF (REZ) 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. REZ is more expensive with a Total Expense Ratio (TER) of 0.48%, versus 0.08% for FREL. REZ is up 6.67% year-to-date (YTD) with -$4M in YTD flows. FREL performs better with 8.78% YTD performance, and +$252M in YTD flows. Run a side-by-side ETF comparison of REZ 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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REZ vs FREL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | REZ FREL | +6.27%+7.88% | +5.31%+6.29% | +6.67%+8.78% | +9.34%+13.99% | +34.50%+31.01% | +26.09%+17.75% |
| Flows | REZ FREL | -$9M-$15M | +$5M+$2M | -$4M+$252M | -$41M+$303M | +$80M+$168M | +$271M+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | REZ FREL | +16.45%+14.82% | +14.64%+13.41% | +17.20%+16.99% | +19.00%+18.91% |
| Max drawdown | REZ FREL | -8.77%-8.45% | -8.77%-8.45% | -18.38%-17.46% | -35.08%-34.35% |
| Max drawdown duration | REZ FREL | 53d44d | 53d44d | 294d441d | 1394d1572d |
Trading data
REZ | FREL | |
Last sale 4/24/2026 at 1:30 PM | $88.25 | $28.90 |
| Previous close 04/23/2026 | $88.21 | $28.96 |
| Consolidated volume 04/23/2026 | ||
| 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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REZ | 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 4/24/2026 at 1:30 PM
Live
Closed
REZ | FREL | |
|---|---|---|
| Last price | $88.25 | $28.90 |
| 1D performance | +0.05% | -0.22% |
| AuM | $824.64 M | $1.43 B |
| E/R | 0.48% | 0.08% |
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Exposure
Countries
REZ
USA
99.54%
Other
0.46%
FREL
USA
99.19%
Other
0.81%
Sectors
REZ
Real Estate
95.35%
Other
4.65%
FREL
Real Estate
95.17%
Other
4.83%
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Diversification
REZ
Total weight of top 15 holdings out of 15
81.47%
FREL
Total weight of top 15 holdings out of 15
57.23%
Top 15 holdings
Data as of March 31, 2026
REZ
WELLTOWER INC
23.17%
PUBLIC STORAGE REIT
8.59%
VENTAS REIT
7.68%
EXTRA SPACE STORAGE REIT
5.54%
EQUITY RESIDENTIAL REIT
4.52%
AVALONBAY COMMUNITIES REIT
4.40%
SUN COMMUNITIES REIT
3.60%
ESSEX PROPERTY REIT
3.60%
INVITATION HOMES INC
3.55%
MID AMERICA APARTMENT COMMUNITI REIT
3.32%
OMEGA HEALTHCARE REIT
3.02%
EQUITY LIFESTYLE PROPERTIES REIT
2.80%
HEALTHPEAK PROPERTIES INC
2.66%
UDR REIT
2.61%
CAMDEN PROPERTY REIT
2.41%
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 REZ and FREL
How have the REZ and FREL ETFs performed in 2026?
As of April 24, 2026, REZ is up 6.67% year-to-date (YTD), while FREL has returned 8.78%. That puts FREL better performer ahead so far this year.
Which ETF is attracting more investor money: REZ or FREL?
Year-to-date, the REZ ETF saw -$4M in flows, compared to +$252M for FREL.
Which ETF is more volatile: REZ or FREL?
Over the past year, REZ had a volatility of 14.64%, while FREL experienced 13.41%.
Which ETF is bigger: REZ or FREL?
As of April 24, 2026, REZ holds $824.64 M in assets under management (AUM), while FREL manages $1.43 B.
What sectors do the REZ and FREL ETFs invest in?
REZ leans toward sectors like Real Estate. Meanwhile, FREL focuses on Real Estate.
What are the top holdings of the REZ ETF and FREL ETF?
REZ top holdings include WELLTOWER INC, PUBLIC STORAGE REIT and VENTAS REIT. FREL holds in its top three: WELLTOWER INC, PROLOGIS REIT and AMERICAN TOWER CL A REIT.
Which ETF is more diversified: REZ or FREL?
REZ holds 39 securities with 81.47% 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 REZ & FREL
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Real Estate Sector Gains Momentum After Dovish Fed Comments
December 19, 2023
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Real Estate Sector Gains Momentum After Dovish Fed Comments
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Latest Rate Hike Hits Housing Market and Real Estate Funds
July 31, 2023
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