RSPR vs. FREL
RSPR (Invesco S&P 500 Equal Weight Real Estate ETF) and FREL (Fidelity MSCI Real Estate Index ETF) are both REIT funds - RSPR tracks the S&P 500 Equal Weighted / Real Estate - SEC while FREL tracks the MSCI USA IMI Real Estate Index. Both are passively managed. Over the past 10 years, RSPR returned 6.16%/yr vs 5.83%/yr for FREL. Their correlation of 0.91 suggests significant overlap in exposure. RSPR charges 0.40%/yr vs 0.08%/yr for FREL.
Performance
RSPR vs. FREL - Performance Comparison
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Returns By Period
In the year-to-date period, RSPR achieves a 9.30% return, which is significantly lower than FREL's 10.01% return. Over the past 10 years, RSPR has outperformed FREL with an annualized return of 6.16%, while FREL has yielded a comparatively lower 5.83% annualized return.
RSPR
- 1D
- 0.79%
- 1M
- 0.30%
- YTD
- 9.30%
- 6M
- 10.15%
- 1Y
- 6.48%
- 3Y*
- 9.90%
- 5Y*
- 2.56%
- 10Y*
- 6.16%
FREL
- 1D
- 0.96%
- 1M
- -0.29%
- YTD
- 10.01%
- 6M
- 10.30%
- 1Y
- 11.38%
- 3Y*
- 10.69%
- 5Y*
- 2.43%
- 10Y*
- 5.83%
RSPR vs. FREL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RSPR Invesco S&P 500 Equal Weight Real Estate ETF | 9.30% | -1.88% | 8.61% | 11.59% | -25.16% | 49.61% | -2.90% | 24.62% | -4.11% | 8.76% |
FREL Fidelity MSCI Real Estate Index ETF | 10.01% | 3.09% | 5.05% | 11.74% | -26.21% | 40.46% | -4.99% | 28.78% | -4.52% | 8.86% |
Correlation
The correlation between RSPR and FREL is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2015 | 0.91 |
The correlation between RSPR and FREL has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
RSPR vs. FREL — Risk / Return Rank
RSPR
FREL
RSPR vs. FREL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Real Estate ETF (RSPR) 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.
| RSPR | FREL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.15 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.35 | -0.61 |
| Martin ratioReturn relative to average drawdown | 1.64 | 4.23 | -2.59 |
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Drawdowns
RSPR vs. FREL - Drawdown Comparison
The maximum RSPR drawdown since its inception was -41.96%, roughly equal to the maximum FREL drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for RSPR and FREL.
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Drawdown Indicators
| RSPR | FREL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.96% | -42.61% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.71% | -8.45% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.78% | -17.54% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -33.03% | -34.40% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -41.96% | -42.61% | +0.65% |
Current DrawdownCurrent decline from peak | -2.93% | -2.12% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -9.36% | -9.91% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 2.70% | +1.25% |
Volatility
RSPR vs. FREL - Volatility Comparison
Invesco S&P 500 Equal Weight Real Estate ETF (RSPR) and Fidelity MSCI Real Estate Index ETF (FREL) have volatilities of 4.77% and 4.96%, 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
| RSPR | FREL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 4.96% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 10.15% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 13.80% | +0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 18.89% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.42% | 20.72% | +0.70% |
RSPR vs. FREL - Expense Ratio Comparison
RSPR has a 0.40% expense ratio, which is higher than FREL's 0.08% expense ratio.
Dividends
RSPR vs. FREL - Dividend Comparison
RSPR's dividend yield for the trailing twelve months is around 3.45%, more than FREL's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREL Fidelity MSCI Real Estate Index ETF | 3.32% | 3.59% | 3.48% | 3.73% | 3.57% | 2.34% | 3.77% | 3.32% | 5.54% | 3.27% | 4.01% | 3.80% |
RSPR Invesco S&P 500 Equal Weight Real Estate ETF | 3.45% | 2.70% | 2.58% | 2.91% | 3.14% | 2.56% | 3.82% | 2.48% | 3.02% | 3.01% | 2.06% | 1.03% |
Frequently Asked Questions
With a correlation of 0.95, RSPR and FREL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FREL has higher volatility (4.96%) compared to RSPR (4.77%). In terms of maximum drawdown, RSPR dropped -41.96% vs FREL's -42.61%.
On 10-year performance, RSPR leads with 6.16% vs 5.83% for FREL. On fees, FREL is cheaper at 0.08% per year. On volatility, RSPR has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSPR has performed better with a 6.16% return vs 5.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FREL is cheaper with a 0.08% expense ratio, compared with 0.40% for RSPR.
RSPR has the higher dividend yield at 3.45%, compared with 3.32% for FREL.
RSPR tracks S&P 500 Equal Weighted / Real Estate - SEC, while FREL tracks MSCI USA IMI Real Estate Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.40% for RSPR and 0.08% for FREL.
FREL currently has the higher Sharpe Ratio (0.83 vs 0.45), 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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