FREL vs MDYV: Holdings Overlap
FRELFidelity MSCI Real Estate Index ETF
Fidelity · 127 holdings · $1.5B · as of 2026-04-30
MDYVState Street® SPDR® S&P 400™ Mid Cap Value ETF
State Street (SPDR) · 297 holdings · $2.9B · as of 2026-08-06
Holdings snapshots are 98 days apart (FREL: 2026-04-30, MDYV: 2026-08-06). 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 FREL and MDYV?
Fidelity MSCI Real Estate Index ETF (FREL, by Fidelity) holds 127 positions; State Street® SPDR® S&P 400™ Mid Cap Value ETF (MDYV, by State Street (SPDR)) holds 297. They have 25 holdings in common, and by portfolio weight the two funds are 8.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 25FREL holds 127 · MDYV holds 297
- Weight in Shared Holdings
- FREL 14%·MDYV 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 FREL
102 of 127 positions (86.2% of the fund) are not held by MDYV. Showing the top 30 by weight.
Only in MDYV
272 of 297 positions (91.6% of the fund) are not held by FREL. Showing the top 30 by weight.
Sector Breakdown
| Sector | FREL | MDYV |
|---|---|---|
| Real Estate | 99.3% | 8.2% |
| Financials | 0.0% | 23.4% |
| Industrials | 0.0% | 18.7% |
| Consumer Discretionary | 0.0% | 12.5% |
| Information Technology | 0.0% | 8.3% |
| Other Sectors | 0.5% | 28.8% |
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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FREL | -0.1% | +13.3% | +13.6% | +9.7% | +2.0% | +5.4% | 3.23% |
| MDYV | +3.1% | +15.2% | +23.9% | +12.9% | +9.2% | +10.6% | 1.64% |
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 FREL vs MDYV →
Shared Holdings(25)
The top 10 shared positions account for 57% of the overlap, led by JLL, AMH and REXR.
 JLLJones Lang LaSalle Incorporated COM | 1.00% | 0.96% | 0.96% |
|---|---|---|---|
 AMHAmerican Homes 4 Rent, Class A | 0.69% | 0.62% | 0.62% |
 REXRRexford Industrial Realty Inc. COM | 0.52% | 0.46% | 0.46% |
 WPCW. P. Carey Inc COM | 1.05% | 0.43% | 0.43% |
 HRHealthcare Realty Trust Incorporated Class A | 0.46% | 0.40% | 0.40% |
 GLPIGaming and Leisure Properties Inc COM | 0.87% | 0.39% | 0.39% |
 OHIOmega Healthcare Investors, Inc. COM | 0.87% | 0.38% | 0.38% |
 ELSEquity Lifestyle Properties Inc COM | 0.75% | 0.35% | 0.35% |
 RYNRayonier Inc COM | 0.42% | 0.34% | 0.34% |
 VNOVornado Realty Trust SH BEN INT | 0.32% | 0.35% | 0.32% |
 LAMRLamar Advertising Company Class A | 0.80% | 0.32% | 0.32% |
 KRGKite Realty Group Trust COM NEW | 0.38% | 0.31% | 0.31% |
 CUBECubeSmart (Maryland) COM | 0.60% | 0.30% | 0.30% |
 NNNNNN REIT Inc COM | 0.54% | 0.29% | 0.29% |
 ADCAgree Realty Corporation | 0.55% | 0.29% | 0.29% |
 BRXBrixmor Property Group Inc COM | 0.60% | 0.28% | 0.28% |
 CUZCousins Properties Inc. COM NEW | 0.29% | 0.28% | 0.28% |
 AHRAmerican Healthcare REIT Inc. COM SHS | 0.57% | 0.23% | 0.23% |
 EGPEastgroup Properties, Inc. COM | 0.68% | 0.23% | 0.23% |
 IRTIndependence Realty Trust Inc COM | 0.25% | 0.23% | 0.23% |
 KRCKilroy Realty Corporation COM | 0.25% | 0.23% | 0.23% |
 PKPark Hotels & Resorts Inc. COM | 0.16% | 0.16% | 0.16% |
 STAGSTAG Industrial, Inc. COM | 0.46% | 0.16% | 0.16% |
 CDPCOPT Defense Properties SHS BEN INT | 0.23% | 0.14% | 0.14% |
 EPREPR Properties COM SH BEN INT | 0.28% | 0.13% | 0.13% |
Frequently Asked Questions
How much do FREL and MDYV overlap?
FREL and MDYV overlap by 8.2% of portfolio weight. They share 25 holdings (FREL holds 127 positions and MDYV holds 297), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FREL and MDYV?
The two portfolios are 8.2% 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 FREL and MDYV?
The largest positions held by both funds are JLL, AMH, REXR, WPC and HR. Together the top 10 shared positions account for 57% of the total overlap.
What does FREL own that MDYV doesn't?
102 positions (86.2% of FREL) are unique to FREL, led by WELL, PLD and AMT. In the other direction, 272 positions (91.6% of MDYV) are unique to MDYV.