FREL vs. FUTY

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity MSCI Real Estate Index ETF (FREL) and Fidelity MSCI Utilities Index ETF (FUTY).

FREL and FUTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. FUTY is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Utilities Index. It was launched on Oct 21, 2013. Both FREL and FUTY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FREL vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Real Estate Index ETF (FREL) and Fidelity MSCI Utilities Index ETF (FUTY). The values are adjusted to include any dividend payments, if applicable.

FREL vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FREL Fidelity MSCI Real Estate Index ETF	1.32%	3.09%	5.05%	11.74%	-26.21%	40.46%	-4.99%	28.78%	-4.52%	8.86%
FUTY Fidelity MSCI Utilities Index ETF	8.19%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Returns By Period

In the year-to-date period, FREL achieves a 1.32% return, which is significantly lower than FUTY's 8.19% return. Over the past 10 years, FREL has underperformed FUTY with an annualized return of 5.19%, while FUTY has yielded a comparatively higher 9.67% annualized return.

FREL

• 1D: 0.33%
• 1M: -6.44%
• YTD: 1.32%
• 6M: -1.31%
• 1Y: 1.72%
• 3Y*: 6.41%
• 5Y*: 2.75%
• 10Y*: 5.19%

FUTY

• 1D: 0.49%
• 1M: -2.11%
• YTD: 8.19%
• 6M: 5.65%
• 1Y: 19.31%
• 3Y*: 13.99%
• 5Y*: 10.62%
• 10Y*: 9.67%

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

FREL vs. FUTY - Expense Ratio Comparison

Both FREL and FUTY have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

FREL

Fidelity MSCI Real Estate Index ETF

FUTY

Fidelity MSCI Utilities Index ETF

Return for Risk

FREL vs. FUTY — Risk / Return Rank

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

FREL

FREL Risk / Return Rank: 14
FREL Sharpe Ratio Rank: 14
FREL Sortino Ratio Rank: 13
FREL Omega Ratio Rank: 13
FREL Calmar Ratio Rank: 15
FREL Martin Ratio Rank: 16

FUTY

FUTY Risk / Return Rank: 65
FUTY Sharpe Ratio Rank: 69
FUTY Sortino Ratio Rank: 65
FUTY Omega Ratio Rank: 60
FUTY Calmar Ratio Rank: 79
FUTY Martin Ratio Rank: 52

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.

FREL vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Real Estate Index ETF (FREL) and Fidelity MSCI Utilities Index ETF (FUTY). 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	FUTY	Difference
Sharpe ratio Return per unit of total volatility	0.11	1.25	-1.14
Sortino ratio Return per unit of downside risk	0.26	1.70	-1.44
Omega ratio Gain probability vs. loss probability	1.03	1.23	-0.20
Calmar ratio Return relative to maximum drawdown	0.14	2.20	-2.06
Martin ratio Return relative to average drawdown	0.56	5.24	-4.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FREL vs. FUTY - Sharpe Ratio Comparison

The current FREL Sharpe Ratio is 0.11, which is lower than the FUTY Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FREL and FUTY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FREL	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	1.25	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.63	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.51	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.58	-0.35

Correlation

The correlation between FREL and FUTY is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FREL vs. FUTY - Dividend Comparison

FREL's dividend yield for the trailing twelve months is around 3.55%, more than FUTY's 2.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FREL Fidelity MSCI Real Estate Index ETF	3.55%	3.59%	3.48%	3.73%	3.57%	2.34%	3.77%	3.32%	5.54%	3.27%	4.01%	3.80%
FUTY Fidelity MSCI Utilities Index ETF	2.49%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Drawdowns

FREL vs. FUTY - Drawdown Comparison

The maximum FREL drawdown since its inception was -42.61%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FREL and FUTY.

Drawdown Indicators

	FREL	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-42.61%	-36.44%	-6.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-8.93%	-3.49%
Max Drawdown (5Y) Largest decline over 5 years	-34.40%	-25.11%	-9.29%
Max Drawdown (10Y) Largest decline over 10 years	-42.61%	-36.44%	-6.17%
Current Drawdown Current decline from peak	-9.53%	-2.76%	-6.77%
Average Drawdown Average peak-to-trough decline	-10.05%	-6.06%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.75%	-0.53%

Volatility

FREL vs. FUTY - Volatility Comparison

The current volatility for Fidelity MSCI Real Estate Index ETF (FREL) is 4.59%, while Fidelity MSCI Utilities Index ETF (FUTY) has a volatility of 5.03%. This indicates that FREL experiences smaller price fluctuations and is considered to be less risky than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FREL	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.03%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	10.15%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	16.38%	15.52%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	16.93%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	18.99%	+1.68%