ETF comparison

FREL vs IYR

Both Real Estate.

Fidelity MSCI Real Estate Index ETF · iShares U.S. Real Estate ETF

Holdings overlap

Weighted by ISIN/CUSIP
86.6 %

56 positions appear in both funds. Buying equal dollars of FREL and IYR would leave roughly 86.6% of each dollar exposed to the same underlying securities.

FREL only 13.3% Shared 86.6% IYR only 12.9%
In FREL only
72 positions
Shared
56 positions
In IYR only
5 positions

Side by side

FREL

Fidelity MSCI Real Estate Index ETF

Fidelity · Real Estate

71 composite / 100
Expense ratio
0.084%
Net assets
$1.45B
TTM yield
3.25%
Top-10 conc.
47.5%
IYR

iShares U.S. Real Estate ETF

iShares · Real Estate

64 composite / 100
Expense ratio
0.38%
Net assets
$4.67B
TTM yield
2.18%
Top-10 conc.
51.5%

Sub-score comparison

92
Cost
62
57
Tax efficiency
59
64
Liquidity
86
46
Concentration
41
Tracking quality
FREL sub-score IYR

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

FREL is 30 bps cheaper than IYR. On a $100,000 position that's about $296/yr more in fees for IYR.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with FREL vs IYR.

Top shared holdings

56 shared in total
# Holding In FREL In IYR Overlap
1 Welltower Inc 8.60% 9.96% 8.60%
2 Prologis Inc 8.19% 9.18% 8.19%
3 Equinix Inc 4.72% 4.69% 4.69%
4 American Tower Corp 5.29% 4.39% 4.39%
5 Digital Realty Trust Inc 4.32% 4.63% 4.32%
6 Simon Property Group Inc 4.28% 4.58% 4.28%
7 Realty Income Corp 3.70% 4.40% 3.70%
8 Public Storage 3.09% 3.41% 3.09%
9 CBRE Group Inc 2.75% 3.13% 2.75%
10 Ventas Inc 2.58% 3.09% 2.58%
11 Crown Castle Inc 2.50% 2.82% 2.50%
12 Iron Mountain Inc 2.42% 2.40% 2.40%

Only in FREL

72 total
  • CareTrust REIT Inc 0.57%
  • American Healthcare REIT Inc 0.57%
  • Terreno Realty Corp 0.43%
  • Rayonier Inc 0.42%
  • Ryman Hospitality Properties Inc 0.39%
  • Essential Properties Realty Trust Inc 0.39%
  • Kite Realty Group Trust 0.38%
  • Macerich Co/The 0.36%
  • Phillips Edison & Co Inc 0.33%
  • Opendoor Technologies Inc 0.31%

Only in IYR

5 total
  • ANNALY CAPITAL MANAGEMENT, INC. 1.21%
  • AGNC INVESTMENT CORP. 0.88%
  • STARWOOD PROPERTY TRUST, INC. 0.48%
  • RITHM CAPITAL CORP. 0.42%
  • ZILLOW GROUP, INC. 0.15%

Open FREL or IYR at a brokerage

Both funds trade commission-free at major US brokerages.

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.