FREL vs. FRESX
Compare and contrast key facts about Fidelity MSCI Real Estate Index ETF (FREL) and Fidelity Real Estate Investment Portfolio (FRESX).
FREL is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Real Estate Index. It was launched on Feb 2, 2015. FRESX is managed by Fidelity. It was launched on Nov 17, 1986.
Performance
FREL vs. FRESX - Performance Comparison
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FREL vs. FRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FREL Fidelity MSCI Real Estate Index ETF | 0.98% | 3.09% | 5.05% | 11.74% | -26.21% | 40.46% | -4.99% | 28.78% | -4.52% | 8.86% |
FRESX Fidelity Real Estate Investment Portfolio | 1.88% | 2.54% | 5.87% | 10.82% | -24.36% | 42.34% | -7.93% | 25.22% | -4.48% | 4.28% |
Returns By Period
In the year-to-date period, FREL achieves a 0.98% return, which is significantly lower than FRESX's 1.88% return. Over the past 10 years, FREL has outperformed FRESX with an annualized return of 5.16%, while FRESX has yielded a comparatively lower 4.41% annualized return.
FREL
- 1D
- 1.43%
- 1M
- -6.56%
- YTD
- 0.98%
- 6M
- -1.57%
- 1Y
- 1.45%
- 3Y*
- 6.30%
- 5Y*
- 2.68%
- 10Y*
- 5.16%
FRESX
- 1D
- 0.31%
- 1M
- -7.31%
- YTD
- 1.88%
- 6M
- 1.01%
- 1Y
- 1.06%
- 3Y*
- 5.93%
- 5Y*
- 4.14%
- 10Y*
- 4.41%
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FREL vs. FRESX - Expense Ratio Comparison
FREL has a 0.08% expense ratio, which is lower than FRESX's 0.71% expense ratio.
Return for Risk
FREL vs. FRESX — Risk / Return Rank
FREL
FRESX
FREL vs. FRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Real Estate Index ETF (FREL) and Fidelity Real Estate Investment Portfolio (FRESX). 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.
| FREL | FRESX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.09 | 0.12 | -0.03 |
Sortino ratioReturn per unit of downside risk | 0.24 | 0.28 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.03 | 1.04 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.20 | 0.16 | +0.04 |
Martin ratioReturn relative to average drawdown | 0.77 | 0.62 | +0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FREL | FRESX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 0.12 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.22 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.22 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.38 | -0.15 |
Correlation
The correlation between FREL and FRESX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FREL vs. FRESX - Dividend Comparison
FREL's dividend yield for the trailing twelve months is around 3.56%, less than FRESX's 4.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREL Fidelity MSCI Real Estate Index ETF | 3.56% | 3.59% | 3.48% | 3.73% | 3.57% | 2.34% | 3.77% | 3.32% | 5.54% | 3.27% | 4.01% | 3.80% |
FRESX Fidelity Real Estate Investment Portfolio | 4.55% | 4.64% | 5.58% | 6.95% | 10.16% | 3.70% | 4.77% | 6.91% | 4.23% | 4.00% | 4.90% | 6.09% |
Drawdowns
FREL vs. FRESX - Drawdown Comparison
The maximum FREL drawdown since its inception was -42.61%, smaller than the maximum FRESX drawdown of -76.34%. Use the drawdown chart below to compare losses from any high point for FREL and FRESX.
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Drawdown Indicators
| FREL | FRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.61% | -76.34% | +33.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -12.24% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -34.40% | -32.13% | -2.27% |
Max Drawdown (10Y)Largest decline over 10 years | -42.61% | -40.93% | -1.68% |
Current DrawdownCurrent decline from peak | -9.83% | -7.49% | -2.34% |
Average DrawdownAverage peak-to-trough decline | -10.05% | -11.16% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 3.13% | +0.06% |
Volatility
FREL vs. FRESX - Volatility Comparison
Fidelity MSCI Real Estate Index ETF (FREL) has a higher volatility of 4.55% compared to Fidelity Real Estate Investment Portfolio (FRESX) at 3.97%. This indicates that FREL's price experiences larger fluctuations and is considered to be riskier than FRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FREL | FRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 3.97% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.29% | 9.06% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.41% | 16.32% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.85% | 18.73% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.67% | 20.57% | +0.10% |