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. REZ's top 2 sector exposures are Finance and Non-Corporate. In contrast, FREL's top sector exposures are Finance and Technology. REZ is more expensive with a Total Expense Ratio (TER) of 0.48%, versus 0.084% for FREL. REZ is up 11.97% year-to-date (YTD) with -$64M in YTD flows. FREL performs worse with 7.53% YTD performance, and +$247M 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 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | REZ FREL | +2.72%+1.51% | -5.94%-5.33% | +11.97%+7.53% | +10.67%+4.12% | +55.48%+45.14% | +14.78%+2.85% |
| Flows | REZ FREL | -$27M-$38M | -$46M-$19M | -$64M+$247M | -$60M+$282M | +$34M+$282M | -$279M-$327M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | REZ FREL | +15.21%+13.25% | +16.08%+14.05% | +17.23%+16.58% | +19.17%+18.96% |
| Max drawdown | REZ FREL | -12.89%-11.58% | -12.89%-11.58% | -15.04%-17.46% | -35.08%-34.35% |
| Max drawdown duration | REZ FREL | 89d87d | 89d87d | 512d441d | 1394d1621d |
Trading data
REZ | FREL | |
Last sale 10/23/2026 at 1:30 PM | $91.55 | $28.15 |
| Previous close 10/22/2026 | $91.74 | $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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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 10/23/2026 at 1:30 PM
Live
Closed
REZ | FREL | |
|---|---|---|
| Last price | $91.55 | $28.15 |
| 1D performance | -0.21% | +0.04% |
| AuM | $796.32 M | $1.38 B |
| E/R | 0.48% | 0.084% |
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Exposure
Countries
REZ
USA
100%
Other
0%
FREL
USA
99.78%
Other
0.22%
Sectors
REZ
Finance
99.81%
Other
0.19%
FREL
Finance
98.65%
Other
1.35%
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Diversification
REZ
Total weight of top 15 holdings out of 15
85.37%
FREL
Total weight of top 15 holdings out of 15
60%
Top 15 holdings
Data as of August 31, 2026
REZ
Welltower, Inc.
24.90%
Public Storage
9.44%
Equity Residential
8.50%
Ventas, Inc.
8.09%
Extra Space Storage, Inc.
5.41%
Essex Property Trust, Inc.
3.78%
Invitation Homes, Inc.
3.60%
Mid-America Apartment Communities, Inc.
3.11%
Sun Communities, Inc.
3.09%
Healthpeak Properties, Inc.
3.01%
Omega Healthcare Investors, Inc.
2.84%
Equity LifeStyle Properties, Inc.
2.55%
UDR, Inc.
2.50%
American Homes 4 Rent
2.33%
American Healthcare REIT, Inc.
2.20%
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 REZ and FREL
How have the REZ and FREL ETFs performed in 2026?
As of October 23, 2026, REZ is up 11.97% year-to-date (YTD), while FREL has returned 7.53%. That puts REZ better performer ahead so far this year.
Which ETF is attracting more investor money: REZ or FREL?
Year-to-date, the REZ ETF saw -$64M in flows, compared to +$247M for FREL.
Which ETF is more volatile: REZ or FREL?
Over the past year, REZ had a volatility of 16.08%, while FREL experienced 14.05%.
Which ETF is bigger: REZ or FREL?
As of October 23, 2026, REZ holds $796.32 M in assets under management (AUM), while FREL manages $1.38 B.
What sectors do the REZ and FREL ETFs invest in?
REZ leans toward sectors like Finance. Meanwhile, FREL focuses on Finance.
What are the top holdings of the REZ ETF and FREL ETF?
REZ top holdings include Welltower, Inc., Public Storage and Equity Residential. FREL holds in its top three: Welltower, Inc., Prologis, Inc. and Equinix, Inc..
Which ETF is more diversified: REZ or FREL?
REZ holds 37 securities with 85.37% of its assets in the top 15. FREL has 118 securities and a top 15 weight of 60%.
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Latest news about REZ & FREL
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September 3, 2025
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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
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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
Latest Rate Hike Hits Housing Market and Real Estate Funds
July 31, 2023
REZ
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