FPRO vs. DTRE

Last updated Jun 4, 2026

FPRO (Fidelity Real Estate Investment ETF) and DTRE (First Trust Alerian Disruptive Technology Real Estate ETF) are both REIT funds. FPRO is actively managed, while DTRE is passively managed. Over the past 5 years, FPRO returned 3.13%/yr vs -1.51%/yr for DTRE. Their correlation of 0.88 suggests significant overlap in exposure. FPRO charges 0.59%/yr vs 0.60%/yr for DTRE.

Performance

FPRO vs. DTRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Real Estate Investment ETF (FPRO) and First Trust Alerian Disruptive Technology Real Estate ETF (DTRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPRO achieves a 9.97% return, which is significantly higher than DTRE's 6.06% return.

FPRO

• 1D: 0.12%
• 1M: -1.08%
• YTD: 9.97%
• 6M: 9.24%
• 1Y: 10.32%
• 3Y*: 9.14%
• 5Y*: 3.13%
• 10Y*: —

DTRE

• 1D: -0.90%
• 1M: -0.63%
• YTD: 6.06%
• 6M: 7.52%
• 1Y: 8.38%
• 3Y*: 4.60%
• 5Y*: -1.51%
• 10Y*: 2.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FPRO vs. DTRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FPRO Fidelity Real Estate Investment ETF	9.97%	2.60%	5.63%	10.93%	-25.02%	40.13%
DTRE First Trust Alerian Disruptive Technology Real Estate ETF	6.06%	8.32%	-9.71%	13.89%	-26.53%	26.02%

Correlation

The correlation between FPRO and DTRE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.88

The correlation between FPRO and DTRE has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

FPRO vs. DTRE - Sectors Allocation Comparison

Sectors	FPRO	DTRE
Real Estate	99.4%	100.0%
Communication Services	0.6%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FPRO vs. DTRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FPRO

FPRO Risk / Return Rank: 24
FPRO Sharpe Ratio Rank: 22
FPRO Sortino Ratio Rank: 21
FPRO Omega Ratio Rank: 21
FPRO Calmar Ratio Rank: 28
FPRO Martin Ratio Rank: 27

DTRE

DTRE Risk / Return Rank: 20
DTRE Sharpe Ratio Rank: 19
DTRE Sortino Ratio Rank: 19
DTRE Omega Ratio Rank: 19
DTRE Calmar Ratio Rank: 20
DTRE Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FPRO vs. DTRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment ETF (FPRO) and First Trust Alerian Disruptive Technology Real Estate ETF (DTRE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FPRO	DTRE	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.63	+0.16
Sortino ratio: Return per unit of downside risk	1.15	0.97	+0.19
Omega ratio: Gain probability vs. loss probability	1.14	1.12	+0.03
Calmar ratio: Return relative to maximum drawdown	1.35	0.88	+0.47
Martin ratio: Return relative to average drawdown	3.88	2.63	+1.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPRO vs. DTRE - Sharpe Ratio Comparison

The current FPRO Sharpe Ratio is 0.79, which is comparable to the DTRE Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of FPRO and DTRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FPRO	DTRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.63	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	-0.08	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.10	+0.25

Drawdowns

FPRO vs. DTRE - Drawdown Comparison

The maximum FPRO drawdown since its inception was -32.81%, smaller than the maximum DTRE drawdown of -72.26%. Use the drawdown chart below to compare losses from any high point for FPRO and DTRE.

Drawdown Indicators

	FPRO	DTRE	Difference
Max Drawdown Largest peak-to-trough decline	-32.81%	-72.26%	+39.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-9.61%	+1.94%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-20.65%	+3.82%
Max Drawdown (5Y) Largest decline over 5 years	-32.81%	-34.62%	+1.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.79%	—
Current Drawdown Current decline from peak	-2.73%	-13.21%	+10.48%
Average Drawdown Average peak-to-trough decline	-12.66%	-16.89%	+4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.19%	-0.52%

Volatility

FPRO vs. DTRE - Volatility Comparison

The current volatility for Fidelity Real Estate Investment ETF (FPRO) is 3.54%, while First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) has a volatility of 3.92%. This indicates that FPRO experiences smaller price fluctuations and is considered to be less risky than DTRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPRO	DTRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.92%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	9.86%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	13.39%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	18.11%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	18.53%	-0.16%

FPRO vs. DTRE - Expense Ratio Comparison

FPRO has a 0.59% expense ratio, which is lower than DTRE's 0.60% expense ratio.

Dividends

FPRO vs. DTRE - Dividend Comparison

FPRO's dividend yield for the trailing twelve months is around 2.57%, less than DTRE's 3.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DTRE First Trust Alerian Disruptive Technology Real Estate ETF	3.39%	3.42%	3.75%	2.56%	2.49%	2.64%	0.79%	4.97%	3.38%	3.07%	4.16%	1.74%
FPRO Fidelity Real Estate Investment ETF	2.57%	2.69%	2.50%	2.83%	2.67%	1.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FPRO and DTRE in my portfolio?

FPRO and DTRE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPRO or DTRE?

DTRE has higher volatility (3.92%) compared to FPRO (3.54%). In terms of maximum drawdown, FPRO dropped -32.81% vs DTRE's -72.26%.

Which ETF is better, FPRO or DTRE?

On 5-year performance, FPRO leads with 3.13% vs -1.51% for DTRE. On fees, FPRO is cheaper at 0.59% per year. On volatility, FPRO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPRO or DTRE?

Over the 5-year period, FPRO has performed better with a 3.13% return vs -1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPRO or DTRE?

FPRO is cheaper with a 0.59% expense ratio, compared with 0.60% for DTRE.

Which ETF pays a higher dividend yield, FPRO or DTRE?

DTRE has the higher dividend yield at 3.39%, compared with 2.57% for FPRO.

What is the main difference between FPRO and DTRE?

They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.59% for FPRO and 0.60% for DTRE.

Which has better risk-adjusted returns?

FPRO currently has the higher Sharpe Ratio (0.79 vs 0.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.