FREL vs SCHH: Holdings Overlap
FRELFidelity MSCI Real Estate Index ETF
Fidelity · 127 holdings · $1.5B · as of 2026-04-30
Schwab · 117 holdings · $11.4B · as of 2026-05-31
Holdings snapshots are 31 days apart (FREL: 2026-04-30, SCHH: 2026-05-31). 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 SCHH?
Fidelity MSCI Real Estate Index ETF (FREL, by Fidelity) holds 127 positions; Schwab U.S. REIT ETF (SCHH, by Schwab) holds 117. They have 108 holdings in common, and by portfolio weight the two funds are 91.7% identical. In practical terms the pair is essentially interchangeable, so holding both adds little diversification.
- Overlap by Weight
- 91.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 108FREL holds 127 · SCHH holds 117
- Weight in Shared Holdings
- FREL 93%·SCHH 99%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
19 of 127 positions (7.0% of the fund) are not held by SCHH.
Sector Breakdown
| Sector | FREL | SCHH |
|---|---|---|
| Real Estate | 99.3% | 99.8% |
| Communication Services | 0.5% | 0.0% |
| Other Sectors | 0.0% | 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.
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% |
| SCHH | -0.2% | +16.9% | +18.0% | +10.5% | +3.0% | +3.7% | 2.74% |
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 SCHH →
Shared Holdings(108)
The top 10 shared positions account for 51% of the overlap, led by WELL, PLD and EQIX.
 WELLWelltower Inc | 8.60% | 9.62% | 8.60% |
|---|---|---|---|
 PLDPrologis Inc | 8.19% | 8.95% | 8.19% |
 EQIXEquinix Inc | 4.72% | 4.88% | 4.72% |
 AMTAmerican Tower Corp | 5.29% | 4.34% | 4.34% |
 DLRDigital Realty Trust Inc | 4.32% | 4.35% | 4.32% |
 SPGSimon Property Group Inc | 4.28% | 4.47% | 4.28% |
 ORealty Income Corp | 3.70% | 4.00% | 3.70% |
 PSAPublic Storage | 3.09% | 3.40% | 3.09% |
 VTRVentas Inc | 2.58% | 2.84% | 2.58% |
 CCICrown Castle Inc | 2.50% | 2.82% | 2.50% |
 IRMIron Mountain Inc | 2.42% | 2.69% | 2.42% |
 VICIVICI Properties Inc | 2.04% | 2.18% | 2.04% |
 EXRExtra Space Storage Inc | 1.99% | 2.17% | 1.99% |
 AVBAvalonBay Communities Inc | 1.71% | 1.83% | 1.71% |
 SBACSBA Communications Corp | 1.57% | 1.53% | 1.53% |
 EQREquity Residential | 1.48% | 1.59% | 1.48% |
 WYWeyerhaeuser Co | 1.18% | 1.25% | 1.18% |
 INVHInvitation Homes Inc | 1.12% | 1.17% | 1.12% |
 ESSEssex Property Trust Inc | 1.11% | 1.25% | 1.11% |
 WPCWP Carey Inc | 1.05% | 1.16% | 1.05% |
 KIMKimco Realty Corp | 1.05% | 1.15% | 1.05% |
 SUISun Communities Inc | 1.06% | 1.02% | 1.02% |
 MAAMid-America Apartment Communities Inc | 0.99% | 1.07% | 0.99% |
 HSTHost Hotels & Resorts Inc | 0.98% | 1.04% | 0.98% |
 REGRegency Centers Corp | 0.90% | 0.90% | 0.90% |
Frequently Asked Questions
How much do FREL and SCHH overlap?
FREL and SCHH overlap by 91.7% of portfolio weight. They share 108 holdings (FREL holds 127 positions and SCHH holds 117), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FREL and SCHH?
The two portfolios are 91.7% identical by weight. Owning both is largely redundant: they are close to the same portfolio, so a second position mostly duplicates the first.
What are the biggest shared holdings of FREL and SCHH?
The largest positions held by both funds are WELL, PLD, EQIX, AMT and DLR. Together the top 10 shared positions account for 51% of the total overlap.
What does FREL own that SCHH doesn't?
19 positions (7.0% of FREL) are unique to FREL, led by CBRE, JLL and CSGP. In the other direction, 9 positions (0.4% of SCHH) are unique to SCHH.