REZvsFRIETF Comparison
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iShares Residential and Multisector Real Estate ETF (REZ) and First Trust S&P REIT Index Fund ETF (FRI) belong to the same industry segment: US Real Estate. Both ETFs have the same top 3 sector exposures: and Real Estate. REZ is less expensive with a Total Expense Ratio (TER) of 0.48%, versus 0.49% for FRI. REZ is up 6.67% year-to-date (YTD) with -$4M in YTD flows. FRI performs better with 11.99% YTD performance, and -$3M in YTD flows. Run a side-by-side ETF comparison of REZ and FRI 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 FRI 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 FRI | +6.27%+7.85% | +5.31%+9.59% | +6.67%+11.99% | +9.34%+18.80% | +34.50%+38.64% | +26.09%+30.32% |
| Flows | REZ FRI | -$9M-$6M | +$5M-$6M | -$4M-$3M | -$41M-$4M | +$80M+$10M | +$271M+$76M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | REZ FRI | +16.45%+14.19% | +14.64%+13.14% | +17.20%+17.03% | +19.00%+18.97% |
| Max drawdown | REZ FRI | -8.77%-7.64% | -8.77%-7.64% | -18.38%-18.74% | -35.08%-31.41% |
| Max drawdown duration | REZ FRI | 53d44d | 53d44d | 294d434d | 1394d1496d |
Trading data
REZ | FRI | |
Last sale 4/24/2026 at 1:30 PM | $88.25 | $30.42 |
| Previous close 04/23/2026 | $88.21 | $30.49 |
| 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 | FRI | |
|---|---|---|
| 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 | FRI | |
|---|---|---|
| Last price | $88.25 | $30.42 |
| 1D performance | +0.05% | -0.23% |
| AuM | $824.64 M | $163.16 M |
| E/R | 0.48% | 0.49% |
Characteristics
REZ | FRI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | First Trust |
| Benchmark | FTSE NAREIT All Residential Capped Index | S&P United States REIT Index |
| N° of holdings | 34 | 112 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 1, 2007 | May 8, 2007 |
| ESG | No | No |
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Exposure
Countries
REZ
USA
99.54%
Other
0.46%
FRI
USA
96.29%
Other
3.71%
Sectors
REZ
Real Estate
95.35%
Other
4.65%
FRI
Real Estate
93.43%
Other
6.57%
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Diversification
REZ
Total weight of top 15 holdings out of 15
81.47%
FRI
Total weight of top 15 holdings out of 15
60.4%
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%
FRI
WELLTOWER INC
11.30%
PROLOGIS REIT
10.09%
SIMON PROPERTY GROUP REIT
4.86%
EQUINIX INC COMMON STOCK REIT
4.84%
DIGITAL REALTY REIT
4.75%
REALTY INCOME REIT
4.64%
PUBLIC STORAGE REIT
3.55%
VENTAS REIT
3.17%
IRON MOUNTAIN
2.43%
VICI PROPERTIES INC
2.39%
EXTRA SPACE STORAGE REIT
2.29%
AVALONBAY COMMUNITIES REIT
1.90%
EQUITY RESIDENTIAL REIT
1.67%
ESSEX PROPERTY REIT
1.28%
WP CAREY INC
1.24%
Frequently asked questions about REZ and FRI
How have the REZ and FRI ETFs performed in 2026?
As of April 24, 2026, REZ is up 6.67% year-to-date (YTD), while FRI has returned 11.99%. That puts FRI better performer ahead so far this year.
Which ETF is attracting more investor money: REZ or FRI?
Year-to-date, the REZ ETF saw -$4M in flows, compared to -$3M for FRI.
Which ETF is more volatile: REZ or FRI?
Over the past year, REZ had a volatility of 14.64%, while FRI experienced 13.14%.
Which ETF is bigger: REZ or FRI?
As of April 24, 2026, REZ holds $824.64 M in assets under management (AUM), while FRI manages $163.16 M.
What sectors do the REZ and FRI ETFs invest in?
REZ leans toward sectors like Real Estate. Meanwhile, FRI focuses on Real Estate.
What are the top holdings of the REZ ETF and FRI ETF?
REZ top holdings include WELLTOWER INC, PUBLIC STORAGE REIT and VENTAS REIT. FRI holds in its top three: WELLTOWER INC, PROLOGIS REIT and SIMON PROPERTY GROUP REIT.
Which ETF is more diversified: REZ or FRI?
REZ holds 39 securities with 81.47% of its assets in the top 15. FRI has 128 securities and a top 15 weight of 60.4%.
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Latest news about REZ & FRI
ETF Comparison: iShares Residential and Multisector Real Estate ETF (REZ) Versus Hoya Capital Housing ETF (HOMZ)
September 3, 2025
REZ
Latest Rate Hike Hits Housing Market and Real Estate Funds
July 31, 2023
REZ
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