- ISIN
- US3160928574
- CUSIP
- 316092857
- Issuer
- Fidelity
- Inception Date
- Feb 2, 2015
- Region
- North America (U.S.)
- Category
- REIT
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI USA IMI Real Estate Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $1B
Share Price Chart
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Performance
FREL Performance Chart
Fidelity MSCI Real Estate Index ETF (FREL) is up 11.7% since the beginning of the year. FREL is currently trading at $30 per share. Investors who bought $1,000 worth of FREL shares 5 years ago would now be looking at an investment worth $1,141.
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Returns By Period
Fidelity MSCI Real Estate Index ETF (FREL) has returned 11.72% so far this year and 13.06% over the past 12 months. Over the last ten years, FREL has returned 5.99% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
Fidelity MSCI Real Estate Index ETF
- 1D
- 0.15%
- 1M
- 4.46%
- YTD
- 11.72%
- 6M
- 11.95%
- 1Y
- 13.06%
- 3Y*
- 9.55%
- 5Y*
- 2.68%
- 10Y*
- 5.99%
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
FREL Monthly Returns History
Based on dividend-adjusted daily data since Feb 5, 2015, FREL's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, an investment would double in approximately 10.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +12.0%, while the worst month was Mar 2020 at -19.4%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FREL closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.4%, while the worst single day was Mar 16, 2020 at -17.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.60% | 5.33% | -6.56% | 8.55% | -0.48% | 2.41% | 11.72% | ||||||
| 2025 | 1.67% | 3.46% | -2.44% | -2.51% | 1.08% | 0.88% | 0.07% | 3.51% | 0.09% | -2.62% | 2.40% | -2.25% | 3.09% |
| 2024 | -5.03% | 2.05% | 2.00% | -7.97% | 4.46% | 2.03% | 7.85% | 5.16% | 3.34% | -3.32% | 4.18% | -8.22% | 5.05% |
| 2023 | 10.44% | -5.99% | -2.00% | 0.36% | -4.08% | 5.60% | 2.03% | -3.32% | -7.23% | -3.60% | 12.04% | 9.31% | 11.74% |
| 2022 | -8.21% | -3.70% | 6.38% | -4.20% | -4.61% | -7.43% | 8.76% | -6.06% | -12.89% | 3.47% | 6.02% | -5.00% | -26.21% |
| 2021 | -0.16% | 3.87% | 5.18% | 7.89% | 0.78% | 2.48% | 4.44% | 2.05% | -5.63% | 7.07% | -2.15% | 9.68% | 40.46% |
Benchmark Metrics
Fidelity MSCI Real Estate Index ETF has an annualized alpha of -3.26%, beta of 0.82, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since February 05, 2015.
- This ETF participated in 98.62% of S&P 500 Index downside but only 72.48% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -3.26% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -3.26%
- Beta
- 0.82
- R²
- 0.53
- Upside Capture
- 72.48%
- Downside Capture
- 98.62%
Expense Ratio
FREL has an expense ratio of 0.08%, which is considered low.
Return for Risk
Risk / Return Rank
FREL ranks 29 for risk / return — below 29% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity MSCI Real Estate Index ETF (FREL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FREL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.36 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.71 | -1.15 |
| Martin ratioReturn relative to average drawdown | 4.88 | 12.15 | -7.27 |
Dividends
Dividend History
Fidelity MSCI Real Estate Index ETF provided a 3.22% dividend yield over the last twelve months, with an annual payout of $0.96 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.96 | $0.97 | $0.94 | $0.99 | $0.89 | $0.81 | $0.96 | $0.93 | $1.24 | $0.81 | $0.94 | $0.86 |
Dividend yield | 3.22% | 3.59% | 3.48% | 3.73% | 3.57% | 2.34% | 3.77% | 3.32% | 5.54% | 3.27% | 4.01% | 3.80% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity MSCI Real Estate Index ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.00 | $0.25 | ||||||
| 2025 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.22 | $0.97 |
| 2024 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.22 | $0.94 |
| 2023 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.21 | $0.99 |
| 2022 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.12 | $0.89 |
| 2021 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.20 | $0.81 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity MSCI Real Estate Index ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity MSCI Real Estate Index ETF was 42.61%, occurring on Mar 23, 2020. Recovery took 268 trading sessions.
The current Fidelity MSCI Real Estate Index ETF drawdown is 0.60%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -42.61%Mar 2020 | 1mo 4d | 1y 23d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -34.40%Oct 2023 | 1y 9mo | 2y 7mo | 4y 5moJan 2022 - Jun 2026 |
2016 correction2016 | -15.67%Feb 2016 | 1y 5d | 1mo 20d | 1y 1moFeb 2015 - Apr 2016 |
2016 correction2016 | -14.14%Nov 2016 | 3mo 10d | 10mo 12d | 1y 1moAug 2016 - Sep 2017 |
Rate-hike selloffLate 2018 | -12.76%Dec 2018 | 17d | 1mo 7d | 1mo 24dDec 2018 - Jan 2019 |
Drawdown Indicators
| FREL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.61% | -56.78% | +14.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -9.10% | +0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -17.54% | -18.90% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -34.40% | -25.43% | -8.97% |
Max Drawdown (10Y)Largest decline over 10 years | -42.61% | -33.92% | -8.69% |
Current DrawdownCurrent decline from peak | -0.60% | -1.29% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -9.92% | -10.72% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.02% | +0.66% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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