FidelitySectorsReal Estate#128 of 264 by YTD

Fidelity MSCI Real Estate Index ETFFREL

S&P 500 Compare

$29.55+1.6%

+$0.47 · Nov 9 close

Buy

AUM: $1.4B
Fee: 0.08%
Yield: 3.3%

Bumpy · 1Y: 1.0×S&P
Volume: 275K
NAV: $29.53

What's insideAll 127 →

WELL 9.8%PLD 7.1%EQIX 5.4%AMT 4.8%

52-week range4% below the high

$26.37$30.92

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+1.6%	+2.4%	+7.5%	+1.7%	+12.9%	+13.5%	+43.9%	+7.6%	+85.2%
Peer average	+1.5%	+2.3%	+6.2%	−0.3%	+10.4%	+10.9%	+40.3%	+7.6%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

FREL in One Breath

FREL Among Real Estate ETFs

YTD

#1PSRInvesco+18.2%$58.7M

#2USRTiShares+18.1%$4.3B

#3BBREJ.P. Morgan+17.6%$1.3B

#4FRIFirst Trust+17.6%$205M

#5RWRSPDR+17.5%$1.9B

#6DFARDimensional+17.1%$8.7B

#7ICFiShares+17.0%$2.1B

#8REZiShares+17.0%$846M

#20FRELFidelity+12.9%$1.4B

End-of-day Nov 10, 2026 · 43 Real estate ETFs by YTD

$10,000 in FREL

$10,000 in FREL became

$10,757

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

FREL’s Top Holdings

Today

WELLWelltower9.8%PLD7.1%EQIX5.4%AMT4.8%SPG4.7%DLR3.8%PSA3.7%O3.5%EQR3.1%VTR2.7%CBRE2.6%CCI2.5%EXR2.2%IRM2.1%VICI1.7%SBAC1.4%JLL1.2%ESS1.2%HST1.2%KIMINVHWY125 more

WELLWelltower9.8%PLD7.1%EQIX5.4%AMT4.8%SPG4.7%DLR3.8%PSA3.7%O3.5%EQR3.1%VTR2.7%CBRE2.6%135 more

REIT - SpecialtyREIT - IndustrialREIT - Healthcare FacilitiesREIT - RetailREIT - ResidentialReal Estate - ServicesOther

Fidelity FREL · 147 holdings · tile size = share of the fund · as of Nov 9, 2026

What FREL Holds

Today

REIT - Specialty23.6%

EQIX 5.4 · AMT 4.8 · DLR 3.8 · CCI 2.5 · IRM 2.1 · SBAC 1.4 · WY 1.0

REIT - Industrial16.9%

PLD 7.1 · PSA 3.7 · EXR 2.2 · CUBE · EGP · REXR · FR

REIT - Healthcare Facilities16.8%

WELL 9.8 · VTR 2.7 · DOC · OHI · AHR · CTRE · HR

REIT - Retail15.0%

SPG 4.7 · O 3.5 · KIM 1.1 · REG · BRX · FRT · ADC

REIT - Residential10.6%

EQR 3.1 · ESS 1.2 · INVH 1.0 · SUI 1.0 · MAA · UDR · ELS

Real Estate - Services5.4%

CBRE 2.6 · JLL 1.2 · CSGP · COMP · CWK · NMRK

Other holdings11.7%

VICI 1.7 · HST 1.2 · WPC · BXP · RHP · ARE · VNO

Fidelity FREL · share of the fund by industry · as of Nov 9, 2026

Welltower’s Share of FREL

Today

9.8%

$98 of every $1,000 in FREL is Welltower

Welltower held by FREL

$138M

Most Welltower per dollar

REZ22.9%

CSRE15.6%

SPRE13.9%

TRUR13.8%

Fidelity FREL · each square = $10 of $1,000 · as of Nov 9, 2026

FREL’s Share of Real Estate ETFs

Today

1.4%

of the $101B in 46 Real estate ETFs

FREL$1.4B1.4%

VNQ$35.9B35.6%

SCHH$11.4B11.3%

43 others$52.0B51.7%

Real estate ETF AUM · Nov 10, 2026

FREL Fee per $100 vs Peers

Today

$0.08a year
per $100

$8 a year on $10,000

SCHH$0.07

FREL$0.08

XLRE$0.08

VNQ$0.13

REET$0.14

DFAR$0.22

Expense ratio · Real estate peers · Nov 10, 2026

Inside FREL

147 holdings · as of Nov 9, 2026

FREL

Fidelity MSCI Real Estate Index ETF

Today

#	Ticker	Company	Weight ▼
1	WELL	Welltower	9.85%
2	PLD	Prologis Reit	7.13%
3	EQIX	Equinix	5.41%
4	AMT	American Tower	4.79%
5	SPG	Simon Ppty Group - Reit	4.74%
6	DLR	Digital Realty Trust	3.79%
7	PSA	Public Storage	3.70%
8	O	Realty Income Reit	3.48%
9	EQR	Vivmark Residential	3.09%
10	VTR	Ventas Reit	2.67%

See all 127 holdings ↓

REIT - SpecialtyREIT - IndustrialREIT - Healthcare FacilitiesREIT - RetailREIT - ResidentialReal Estate - ServicesOther

Fidelity FREL · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 65.8%

All FREL Holdings

127 holdings · as of Nov 9, 2026

FREL

FREL’s Holdings

Today

#
1	WELLWelltower	Real Estate	9.85%	$984.98	573K	$140.3M
2	PLDPrologis Reit	Real Estate	7.13%	$713.50	801K	$101.6M
3	EQIXEquinix	Real Estate	5.41%	$540.58	76K	$77.0M
4	AMTAmerican Tower	Real Estate	4.79%	$479.20	362K	$68.3M
5	SPGSimon Ppty Group - Reit	Real Estate	4.74%	$474.21	296K	$67.5M
6	DLRDigital Realty Trust	Real Estate	3.79%	$378.93	310K	$54.0M
7	PSAPublic Storage	Real Estate	3.70%	$369.98	156K	$52.7M
8	ORealty Income Reit	Real Estate	3.48%	$348.04	840K	$49.6M
9	EQRVivmark Residential	Real Estate	3.09%	$309.02	672K	$44.0M
10	VTRVentas Reit	Real Estate	2.67%	$267.11	429K	$38.0M
11	CBRECBRE Group	Real Estate	2.62%	$262.15	276K	$37.3M
12	CCICrown Castle	Real Estate	2.52%	$252.36	406K	$35.9M
13	EXRExtra Space Storage	Real Estate	2.23%	$222.72	199K	$31.7M
14	IRMIron Mountain	Real Estate	2.07%	$207.20	277K	$29.5M
15	VICIVICI Pptys	Real Estate	1.75%	$174.82	1.0M	$24.9M

Fidelity FREL · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

FREL

Fidelity MSCI Real Estate Index ETF’s Peers

Today


VNQ	VanguardRead Desk	0.13%	+1.6%	+13.7%	$35.9B
SCHH	SchwabRead Desk	0.07%	+1.6%	+17.0%	$11.4B
DFAR	DimensionalRead Desk	0.22%	+1.5%	+17.2%	$8.7B
XLRE	SPDRRead Desk	0.08%	+1.5%	+13.4%	$8.3B
REET	iSharesRead Desk	0.14%	+1.5%	+12.6%	$4.9B
FREL	FidelityThis fundRead Desk	0.08%	+1.6%	+13.5%	$1.4B

Real estate peers · Today’s and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put FREL head to head with VNQ →

VNQ vs FREL

YTD

VNQVanguard · Real estateFRELFidelity · Real estate

Year to date

+13.1%

+12.9%

VNQ wins+0.2 pts

Past year

+13.7%

+13.5%

VNQ wins+0.1 pts

Fee

0.13%

0.08%

FREL winslower fee

Yield

3.5%

3.3%

VNQ wins+0.2 pts

AUM

$35.9B

$1.4B

VNQ25.6× more

3–1VNQ wins

Vanguard VNQ and Fidelity FREL · year-to-date · as of Nov 10, 2026 · AUM not scored

FREL vs VOO

YTD

FREL · Fidelity MSCI Real Estate Index

+12.9%

VOO · S&P 500

+11.3%

Gap

1.6 pts

Fidelity FREL and Vanguard VOO · Today total return · as of Nov 10, 2026

FREL vs Its Peer Average

YTD

FRELAvsBPeer average

1D+1.6%+1.5%

1M+7.5%+6.2%

3M+1.7%−0.3%

YTD+12.9%+10.4%

1Y+13.5%+10.9%

3Y+43.9%+40.3%

5Y+7.6%+7.6%

6–1FREL wins

45 Real estate peers · each row scaled to its leader

How Bumpy Is FREL?

View

FREL

How Bumpy

1.0×the S&P 500’s swings

CalmerBumpierS&P 1×FREL

Calm rank among 7 real estate funds#6

Other real estate funds0.9× to 1.1×

Fidelity FREL · daily swings over the past year vs the S&P 500

FREL

Worst Drop

−11.6%from its Jul 28 high

Still below the high−2.9%

$10,000 at the high is now$9,710

Fidelity FREL · fall from the highest close, past year

FREL

On a Bad Day

0.2×the S&P 500’s fall

FREL’s worst day: Friday, Mar 20

FREL

−3.2%

S&P 500

−1.4%

Up days51 of every 100

S&P 500 up days52 of every 100

Fidelity FREL · average move on days the S&P 500 fell

FREL

Return for the Bumps

1Y#6 of 7 real estate funds

#1USRTiShares

most for the bumps

#2DFARDimensional

#3SCHHSchwab

#4REETiShares

calmest ride

#5VNQVanguard

#6FRELFidelity

#7XLRESPDR

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

FREL

Cost

Today

$8a year per $10,000

SCHH

XLRE

USRT

FREL

VNQ

$13

REET

$14

DFAR

$22

Expense ratio 0.08%, taken from the fund’s value

FREL

Volatility & Beta

14.3%annual volatility

S&P 500 volatility13.7%

Downside volatility9.4%

Beta vs SPY0.32

Correlation vs SPY0.31

Beta rank, lowest first, of 7#5

Daily total returns × √252 · past 254 trading days

FREL

Max Drawdown

−11.6%peak to trough

Peak closeJul 28, 2026

Current drawdown−2.9%

Worst day−3.22% · Mar 20

Closing prices, dividends in

FREL

Up / Down Capture

22%down capture vs SPY

Down days

22%

Up days

34%

S&P 500

100%

Up ÷ down capture1.54

Up days50.8% (S&P 52.4%)

Average daily move on SPY up days and down days

FREL

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
USRT	1.02	1.55	14.0%	−12.4%	0.28	$8
DFAR	0.93	1.40	14.1%	−11.5%	0.27	$22
SCHH	0.90	1.36	14.3%	−11.9%	0.26	$7
REET	0.70	1.04	12.6%	−11.3%	0.36	$14
VNQ	0.66	1.00	14.3%	−11.4%	0.33	$13
FREL	0.64	0.97	14.3%	−11.6%	0.32	$8
XLRE	0.62	0.93	14.7%	−11.1%	0.31	$8

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

FREL

Trading

Today

+0.07%above its holdings’ value

Close$29.55

NAV$29.53

Fee per $10,000$8 a year

Avg. volume 30D347K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

FREL

Fund Facts

Today

2015launched Feb 2

Tracks[…]

Exchange · CUSIPAMEX · 316092857

StructureETF

Leverage1x

Cost on $10,000$8 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Fidelity FREL · fund facts · as of Nov 10, 2026

FREL

Payouts by Year

12Y

$0.23per share, Sep 2026

Distribution yield3.3%

PaidEvery quarter

Latest ex-date · paidSep 18 · Sep 22, 2026

12 payouts added up$2.87 a share

Fidelity FREL · distributions by ex-date · 2015–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$29.53

Premium / discount[…]

Median spread · 30D[…]

Volume today275K

Average volume · 30D347K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.08%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$8.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Sep 18, 2026	Sep 22, 2026	$0.23
Jun 18, 2026	Jun 23, 2026	$0.27
Mar 20, 2026	Mar 24, 2026	$0.25
Dec 19, 2025	Dec 23, 2025	$0.22
Sep 19, 2025	Sep 23, 2025	$0.23
Jun 20, 2025	Jun 24, 2025	$0.27
Mar 21, 2025	Mar 25, 2025	$0.26
Dec 20, 2024	Dec 24, 2024	$0.22
Sep 20, 2024	Sep 24, 2024	$0.22
Jun 21, 2024	Jun 25, 2024	$0.25
Mar 15, 2024	Mar 20, 2024	$0.25
Dec 15, 2023	Dec 20, 2023	$0.21

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