FUTY vs. FREL
FUTY (Fidelity MSCI Utilities Index ETF) and FREL (Fidelity MSCI Real Estate Index ETF) are both exchange-traded funds - FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index, while FREL is a REIT fund tracking the MSCI USA IMI Real Estate Index. Both are passively managed. Over the past 10 years, FUTY returned 9.30%/yr vs 6.04%/yr for FREL. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.
Performance
FUTY vs. FREL - Performance Comparison
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Returns By Period
In the year-to-date period, FUTY achieves a 8.48% return, which is significantly lower than FREL's 11.87% return. Over the past 10 years, FUTY has outperformed FREL with an annualized return of 9.30%, while FREL has yielded a comparatively lower 6.04% annualized return.
FUTY
- 1D
- 0.63%
- 1M
- 1.42%
- YTD
- 8.48%
- 6M
- 8.09%
- 1Y
- 16.99%
- 3Y*
- 15.11%
- 5Y*
- 10.49%
- 10Y*
- 9.30%
FREL
- 1D
- 0.20%
- 1M
- 0.95%
- YTD
- 11.87%
- 6M
- 11.45%
- 1Y
- 13.98%
- 3Y*
- 10.48%
- 5Y*
- 2.68%
- 10Y*
- 6.04%
FUTY vs. FREL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FUTY Fidelity MSCI Utilities Index ETF | 8.48% | 16.40% | 23.20% | -7.46% | 1.12% | 17.53% | -0.80% | 24.89% | 4.36% | 12.52% |
FREL Fidelity MSCI Real Estate Index ETF | 11.87% | 3.09% | 5.05% | 11.74% | -26.21% | 40.46% | -4.99% | 28.78% | -4.52% | 8.86% |
Correlation
The correlation between FUTY and FREL is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015 | 0.62 |
The correlation between FUTY and FREL shifts across timeframes, from 0.46 (1 year) to 0.62 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FUTY vs. FREL — Risk / Return Rank
FUTY
FREL
FUTY vs. FREL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) and Fidelity MSCI Real Estate Index ETF (FREL). 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.
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.
| FUTY | FREL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.66 | +0.25 |
| Martin ratioReturn relative to average drawdown | 4.07 | 5.22 | -1.16 |
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Drawdowns
FUTY vs. FREL - Drawdown Comparison
The maximum FUTY drawdown since its inception was -36.44%, smaller than the maximum FREL drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for FUTY and FREL.
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Drawdown Indicators
| FUTY | FREL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.44% | -42.61% | +6.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -8.45% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -17.35% | -17.54% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -34.40% | +9.29% |
Max Drawdown (10Y)Largest decline over 10 years | -36.44% | -42.61% | +6.17% |
Current DrawdownCurrent decline from peak | -2.50% | -0.47% | -2.03% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -9.90% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 2.68% | +1.51% |
Volatility
FUTY vs. FREL - Volatility Comparison
Fidelity MSCI Utilities Index ETF (FUTY) and Fidelity MSCI Real Estate Index ETF (FREL) have volatilities of 5.27% and 5.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FUTY | FREL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 5.13% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 10.19% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.45% | 13.77% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.06% | 18.90% | -1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.07% | 20.71% | -1.64% |
FUTY vs. FREL - Expense Ratio Comparison
Both FUTY and FREL 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%.
Dividends
FUTY vs. FREL - Dividend Comparison
FUTY's dividend yield for the trailing twelve months is around 2.56%, less than FREL's 3.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREL Fidelity MSCI Real Estate Index ETF | 3.27% | 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 | 2.56% | 2.67% | 2.96% | 3.31% | 2.72% | 2.70% | 3.07% | 2.82% | 3.11% | 3.03% | 3.35% | 4.33% |
Frequently Asked Questions
FUTY and FREL have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FUTY has higher volatility (5.27%) compared to FREL (5.13%). In terms of maximum drawdown, FUTY dropped -36.44% vs FREL's -42.61%.
On 10-year performance, FUTY leads with 9.30% vs 6.04% for FREL. Both ETFs have the same 0.08% expense ratio. On volatility, FREL has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FUTY has performed better with a 9.30% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FUTY and FREL have the same expense ratio: 0.08% per year.
FREL has the higher dividend yield at 3.27%, compared with 2.56% for FUTY.
FUTY is categorized as Utilities Equities, while FREL is REIT. FUTY tracks MSCI USA IMI Utilities Index, while FREL tracks MSCI USA IMI Real Estate Index.
FUTY currently has the higher Sharpe Ratio (1.19 vs 1.03), 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.
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