FREL is a Sector & Thematic ETF from Fidelity holding 127 positions as of Apr 30, 2026, with $1.5B in assets and a 0.08% net expense ratio. Its largest positions are WELL (8.6%), PLD (8.2%) and AMT (5.3%); the top 10 holdings account for 47.5% of the portfolio. By sector it leans Real Estate (99.3%) and Communication Services (0.5%). It yields 3.23% on a trailing-12-month basis.
- Issuer
- Fidelity
- Holdings
- 127
- Net Assets
- $1.5BETF assets as of 2026-08-10
- Expense Ratio
- 0.08%per latest SEC prospectus filing
- TTM Yield
- 3.23%trailing 12-month distributions
Performance
- 1M
- -0.1%
- YTD
- +13.3%
- 1Y
- +13.6%
- 3Y (ann.)
- +9.7%
- 5Y (ann.)
- +2.0%
- 10Y (ann.)
- +5.4%
A $10,000 investment 10 years ago would be worth $16,872 today at the 10Y annualized rate. This is a backward-looking illustration, not a forecast. Project its future growth →
Total returns including dividends as of 2026-08-07. 3Y/5Y/10Y annualized. Past performance does not predict future results.
Sector Breakdown
| Real Estate | 99.3% |
|---|---|
| Communication Services | 0.5% |
| Other Sectors | 0.0% |
Top 25 Holdings
| # | Holding | Weight |
|---|---|---|
| 1 |  WELLWelltower Inc | 8.60% |
| 2 |  PLDPrologis Inc | 8.19% |
| 3 |  AMTAmerican Tower Corp | 5.29% |
| 4 |  EQIXEquinix Inc | 4.72% |
| 5 |  DLRDigital Realty Trust Inc | 4.32% |
| 6 |  SPGSimon Property Group Inc | 4.28% |
| 7 |  ORealty Income Corp | 3.70% |
| 8 |  PSAPublic Storage | 3.09% |
| 9 |  CBRECBRE Group Inc | 2.75% |
| 10 |  VTRVentas Inc | 2.58% |
| 11 |  CCICrown Castle Inc | 2.50% |
| 12 |  IRMIron Mountain Inc | 2.42% |
| 13 |  VICIVICI Properties Inc | 2.04% |
| 14 |  EXRExtra Space Storage Inc | 1.99% |
| 15 |  AVBAvalonBay Communities Inc | 1.71% |
| 16 |  SBACSBA Communications Corp | 1.57% |
| 17 |  EQREquity Residential | 1.48% |
| 18 |  WYWeyerhaeuser Co | 1.18% |
| 19 |  INVHInvitation Homes Inc | 1.12% |
| 20 |  ESSEssex Property Trust Inc | 1.11% |
| 21 |  SUISun Communities Inc | 1.06% |
| 22 |  WPCWP Carey Inc | 1.05% |
| 23 |  KIMKimco Realty Corp | 1.05% |
| 24 |  JLLJones Lang LaSalle Inc | 1.00% |
| 25 |  MAAMid-America Apartment Communities Inc | 0.99% |
Showing the top 25 of 127 holdings. See the full FREL holdings list →
FREL alternatives
The closest Sector & Thematic ETFs to FREL by portfolio overlap — the share of weight both funds hold in the same securities.
| Fund | Overlap | Expense | Assets | |
|---|---|---|---|---|
 SCHHSchwab U.S. REIT ETF | 92% | 0.07%cheaper | $11.4B | Compare → |
 IYRiShares U.S. Real Estate ETF | 87% | 0.38%pricier | $4.5B | Compare → |
 VNQVanguard Real Estate Index Fund | 84% | 0.13%pricier | $39.3B | Compare → |
 USRTiShares Core U.S. REIT ETF | 81% | 0.08% | $4.7B | Compare → |
 RWRState Street® SPDR® Dow Jones® REIT ETF | 74% | 0.25%pricier | $1.9B | Compare → |
 XLREState Street® Real Estate Select Sector SPDR® ETF | 73% | 0.08% | $8.6B | Compare → |
 REETiShares Global REIT ETF | 71% | 0.14%pricier | $5.1B | Compare → |
 ICFiShares Select U.S. REIT ETF | 70% | 0.32%pricier | $2.1B | Compare → |
Frequently Asked Questions
What is FREL's expense ratio?
FREL has a net expense ratio of 0.08%, per its latest SEC prospectus filing. That works out to about $8 a year on a $10,000 investment.
How many holdings does FREL have?
FREL held 127 positions as of Apr 30, 2026, per its latest official holdings data.
What are FREL's top 10 holdings?
FREL's largest positions are WELL (8.6%), PLD (8.2%), AMT (5.3%), EQIX (4.7%), DLR (4.3%), SPG (4.3%), O (3.7%), PSA (3.1%), CBRE (2.7%), VTR (2.6%). Together they account for 47.5% of the portfolio.
What is FREL's dividend yield?
FREL yields 3.23% based on its trailing 12-month distributions, as of Aug 7, 2026.
How big is FREL?
FREL has $1.5B in assets as of Aug 10, 2026.
What are good alternatives to FREL?
By portfolio overlap, the closest Sector & Thematic ETFs to FREL are SCHH (92% overlap), IYR (87% overlap), VNQ (84% overlap). Overlap measures the share of portfolio weight both funds hold in the same securities.