FREL vs SPY
Comparison between FIDELITY MSCI REAL ESTATE INDEX ETF (FREL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed FREL, delivering a return of +13.3% compared to +3.4%
FREL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
FREL
$1.30B
Winner
SPY
$652B
Expense Ratio
Winner
FREL
0.08%
SPY
0.09%
Max Drawdown
Winner
FREL
43.46%
SPY
56.47%
Sharpe Ratio
FREL
0.69
Winner
SPY
2.07
5Y Beta
Winner
FREL
0.54
SPY
1.00
P/E Ratio
FREL
33.38
Winner
SPY
28.24
Forward P/E
FREL
32.48
Winner
SPY
21.85
5Y Dividends CAGR
FREL
1.14%
Winner
SPY
5.43%
5Y EPS CAGR
FREL
9.30%
Winner
SPY
25.79%
Debt to Equity
Winner
FREL
4.49%
SPY
22.35%
P/S Ratio
FREL
5.39
Winner
SPY
3.55
P/B Ratio
Winner
FREL
2.64
SPY
5.29
FREL vs SPY - Holdings Comparison
FREL and SPY have 32 common holdings. Overlap is 1.92%
FREL's top 25 holdings weight is 69.54%. SPY's top 25 holdings weight is 51.32%.
| Rank | FREL | SPY |
|---|---|---|
| #1 | WELLTOWER INC (WELL) - 8.52% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | PROLOGIS INC (PLD) - 8.41% | APPLE INC (AAPL) - 6.48% |
| #3 | AMERICAN TOWER CORP (AMT) - 5.78% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | EQUINIX INC (EQIX) - 4.71% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | SIMON PROPERTY GROUP INC (SPG) - 4.24% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | DIGITAL REALTY TRUST INC (DLR) - 3.85% | BROADCOM INC (AVGO) - 3.09% |
| #7 | REALTY INCOME CORP (O) - 3.77% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | PUBLIC STORAGE (PSA) - 3.08% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | CBRE GROUP INC CLASS A (CBRE) - 2.72% | TESLA INC (TSLA) - 1.73% |
| #10 | CROWN CASTLE INC (CCI) - 2.59% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | VENTAS INC (VTR) - 2.35% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | IRON MOUNTAIN INC (IRM) - 2.09% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | EXTRA SPACE STORAGE INC (EXR) - 2.05% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | VICI PROPERTIES INC ORDINARY SHARES (VICI) - 2.04% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | AVALONBAY COMMUNITIES INC (AVB) - 1.65% | WALMART INC (WMT) - 0.91% |
| #16 | SBA COMMUNICATIONS CORP CLASS A (SBAC) - 1.43% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | EQUITY RESIDENTIAL (EQR) - 1.42% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | WEYERHAEUSER CO (WY) - 1.28% | VISA INC CLASS A (V) - 0.85% |
| #19 | COSTAR GROUP INC (CSGP) - 1.25% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | SUN COMMUNITIES INC (SUI) - 1.08% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | ESSEX PROPERTY TRUST INC (ESS) - 1.07% | INTEL CORP (INTC) - 0.65% |
| #22 | W.P. CAREY INC (WPC) - 1.06% | NETFLIX INC (NFLX) - 0.64% |
| #23 | INVITATION HOMES INC (INVH) - 1.05% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | MID-AMERICA APARTMENT COMMUNITIES INC (MAA) - 1.03% | CHEVRON CORP (CVX) - 0.58% |
| #25 | KIMCO REALTY CORP (KIM) - 1.02% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 132 | 505 |
FREL vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
FREL
+4.97%
Winner
SPY
+9.11%
3M
FREL
+5.32%
Winner
SPY
+6.59%
6M
FREL
+9.00%
Winner
SPY
+10.56%
1Y
FREL
+13.21%
Winner
SPY
+32.04%
5Y(CAGR)
FREL
+3.42%
Winner
SPY
+13.35%
10Y(CAGR)
FREL
+5.78%
Winner
SPY
+15.49%
Max(CAGR)
FREL
+5.41%
Winner
SPY
+8.50%
FREL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FREL | SPY |
|---|---|---|
| 2026 | +10.17% | +8.27% |
| 2025 | +4.07% | +18.00% |
| 2024 | +4.10% | +25.59% |
| 2023 | +11.62% | +26.72% |
| 2022 | -25.63% | -18.64% |
| 2021 | +45.48% | +30.52% |
| 2020 | -3.56% | +17.28% |
| 2019 | +31.79% | +31.09% |
| 2018 | -4.08% | -5.24% |
| 2017 | +8.56% | +20.78% |
| 2016 | +9.36% | +13.59% |
| 2015 | -4.72% | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
FREL vs SPY Drawdown Comparison
The maximum drawdown for FREL was -42.57%, occurring on Mar 23, 2020. Recovery took 293 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current FREL drawdown is -1.57%.
| Rank | FREL | SPY |
|---|---|---|
| #1 | -42.57% Feb 14, 2020 - Apr 15, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -34.37% Dec 31, 2021 - Oct 25, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -15.67% Feb 5, 2015 - Apr 1, 2016 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -14.14% Aug 1, 2016 - Sep 18, 2017 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -12.75% Dec 6, 2018 - Jan 30, 2019 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -12.43% Dec 18, 2017 - Jun 29, 2018 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -8.54% Aug 29, 2018 - Dec 6, 2018 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -7.53% Sep 3, 2021 - Oct 28, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -5.49% Nov 24, 2021 - Dec 7, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.47% Oct 21, 2019 - Jan 16, 2020 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -5.38% May 10, 2016 - Jun 23, 2016 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.11% Jun 20, 2019 - Jul 10, 2019 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.48% Apr 30, 2021 - May 26, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.10% Apr 12, 2019 - Jun 5, 2019 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -3.80% Jul 10, 2019 - Aug 8, 2019 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FREL and SPY is 0.90 which considered as a strong positive correlation - the stocks tend to move together.
0.90
-101
Dividend Comparison (1999 - 2026)
FREL vs SPY dividend yield comparison.
| Year | FREL | SPY |
|---|---|---|
| 2026 | 0.85% | 0.24% |
| 2025 | 3.59% | 1.07% |
| 2024 | 3.48% | 1.21% |
| 2023 | 3.73% | 1.40% |
| 2022 | 3.57% | 1.65% |
| 2021 | 2.34% | 1.20% |
| 2020 | 3.77% | 1.52% |
| 2019 | 3.32% | 1.75% |
| 2018 | 5.54% | 2.04% |
| 2017 | 3.27% | 1.80% |
| 2016 | 4.01% | 2.03% |
| 2015 | 3.80% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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