DES vs FREL: Holdings Overlap
DESWisdomTree U.S. SmallCap Dividend Fund
WisdomTree · 530 holdings · $2.2B · as of 2026-03-31
FRELFidelity MSCI Real Estate Index ETF
Fidelity · 127 holdings · $1.5B · as of 2026-04-30
Holdings snapshots are 30 days apart (DES: 2026-03-31, FREL: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are DES and FREL?
WisdomTree U.S. SmallCap Dividend Fund (DES, by WisdomTree) holds 530 positions; Fidelity MSCI Real Estate Index ETF (FREL, by Fidelity) holds 127. They have 48 holdings in common, and by portfolio weight the two funds are 6.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 6.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 48DES holds 530 · FREL holds 127
- Weight in Shared Holdings
- DES 9%·FREL 8%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in DES
482 of 530 positions (90.6% of the fund) are not held by FREL. Showing the top 30 by weight.
Sector Breakdown
| Sector | DES | FREL |
|---|---|---|
| Real Estate | 9.4% | 99.3% |
| Financials | 23.2% | 0.0% |
| Consumer Discretionary | 13.8% | 0.0% |
| Industrials | 13.1% | 0.0% |
| Energy | 11.3% | 0.0% |
| Other Sectors | 24.7% | 0.5% |
| Unclassified | 4.2% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (4% of DES, 0% of FREL).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DES | +3.2% | +24.6% | +33.0% | +13.6% | +8.4% | +8.2% | 2.22% |
| FREL | -0.1% | +13.3% | +13.6% | +9.7% | +2.0% | +5.4% | 3.23% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in DES vs FREL →
Shared Holdings(48)
The top 10 shared positions account for 42% of the overlap, led by RYN, OUT and CUZ.
 RYNRayonier Inc COM | 0.37% | 0.42% | 0.37% |
|---|---|---|---|
 OUTOUTFRONT Media Inc COM NEW | 0.77% | 0.29% | 0.29% |
 CUZCousins Properties Inc. COM NEW | 0.34% | 0.29% | 0.29% |
 EPREPR Properties COM SH BEN INT | 0.99% | 0.28% | 0.28% |
 MACThe Macerich Company COM | 0.25% | 0.36% | 0.25% |
 BNLBroadstone Net Lease Inc COM | 0.42% | 0.25% | 0.25% |
 NHINational Health Investors, Inc. COM | 0.55% | 0.24% | 0.24% |
 CDPCOPT Defense Properties SHS BEN INT | 0.35% | 0.23% | 0.23% |
 COLDAmericold Realty Trust Inc COM | 0.57% | 0.22% | 0.22% |
| National Storage Affiliates Trust COM SHS BEN IN | 0.30% | 0.21% | 0.21% |
 PECOPhillips Edison & Co Inc COMMON STOCK | 0.21% | 0.33% | 0.21% |
 SLGSl Green Realty Corp COM | 0.32% | 0.20% | 0.20% |
 LXPLXP Industrial Trust COM | 0.48% | 0.20% | 0.20% |
 MPTMedical Properties Trust Inc. COM | 0.32% | 0.19% | 0.19% |
 SKTTanger Inc. COM | 0.18% | 0.28% | 0.18% |
 HIWHighwoods Properties, Inc. COM | 0.30% | 0.18% | 0.18% |
 FCPTFour Corners Property Trust Inc. COM | 0.17% | 0.17% | 0.17% |
 IRTIndependence Realty Trust Inc COM | 0.16% | 0.25% | 0.16% |
 JOESt. Joe Co. COM | 0.15% | 0.18% | 0.15% |
 AKRAcadia Realty Trust COM SH BEN INT | 0.12% | 0.18% | 0.12% |
 CURBCurbline Properties Corp. COM | 0.11% | 0.18% | 0.11% |
 UEUrban Edge Properties COM | 0.11% | 0.19% | 0.11% |
 NMRKNewmark Group Inc CL A | 0.10% | 0.16% | 0.10% |
 GTYGetty Realty Corp COM | 0.09% | 0.12% | 0.09% |
| Veris Residential Inc COM | 0.09% | 0.11% | 0.09% |
Frequently Asked Questions
How much do DES and FREL overlap?
DES and FREL overlap by 6.2% of portfolio weight. They share 48 holdings (DES holds 530 positions and FREL holds 127), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DES and FREL?
The two portfolios are 6.2% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of DES and FREL?
The largest positions held by both funds are RYN, OUT, CUZ, EPR and MAC. Together the top 10 shared positions account for 42% of the total overlap.
What does DES own that FREL doesn't?
482 positions (90.6% of DES) are unique to DES, led by SON, TFSL and KGS. In the other direction, 79 positions (92.0% of FREL) are unique to FREL.