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 +13.2% compared to +2.7%
FREL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
FREL
$1.40B
Winner
SPY
$784B
Expense Ratio
Winner
FREL
0.08%
SPY
0.09%
Max Drawdown
Winner
FREL
43.46%
SPY
56.47%
Sharpe Ratio
FREL
0.68
Winner
SPY
1.54
5Y Beta
Winner
FREL
0.51
SPY
1.00
P/E Ratio
FREL
34.24
Winner
SPY
27.62
Forward P/E
FREL
32.57
Winner
SPY
21.11
5Y Dividends CAGR
FREL
2.88%
Winner
SPY
6.00%
5Y EPS CAGR
FREL
9.70%
Winner
SPY
25.30%
Debt to Equity
FREL
45.22%
Winner
SPY
31.11%
P/S Ratio
FREL
5.15
Winner
SPY
3.49
P/B Ratio
Winner
FREL
2.62
SPY
5.30
FREL vs SPY - Holdings Comparison
FREL and SPY have 32 common holdings. Overlap is 1.88%
FREL's top 25 holdings weight is 68.49%. SPY's top 25 holdings weight is 51.24%.
| Rank | FREL | SPY |
|---|---|---|
| #1 | WELLTOWER INC (WELL) - 8.24% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | PROLOGIS INC (PLD) - 7.97% | APPLE INC (AAPL) - 6.81% |
| #3 | EQUINIX INC (EQIX) - 5.76% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | SIMON PROPERTY GROUP INC (SPG) - 4.42% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | AMERICAN TOWER CORP (AMT) - 4.41% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | DIGITAL REALTY TRUST INC (DLR) - 4.03% | BROADCOM INC (AVGO) - 2.77% |
| #7 | REALTY INCOME CORP (O) - 3.54% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | PUBLIC STORAGE (PSA) - 3.20% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | CBRE GROUP INC CLASS A (CBRE) - 2.52% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | VENTAS INC (VTR) - 2.45% | TESLA INC (TSLA) - 1.76% |
| #11 | CROWN CASTLE INC (CCI) - 2.42% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | IRON MOUNTAIN INC (IRM) - 2.41% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | EXTRA SPACE STORAGE INC (EXR) - 2.00% | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | VICI PROPERTIES INC ORDINARY SHARES (VICI) - 1.91% | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | AVALONBAY COMMUNITIES INC (AVB) - 1.67% | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | EQUITY RESIDENTIAL (EQR) - 1.46% | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | SBA COMMUNICATIONS CORP CLASS A (SBAC) - 1.36% | VISA INC CLASS A (V) - 0.87% |
| #18 | WEYERHAEUSER CO (WY) - 1.17% | INTEL CORP (INTC) - 0.85% |
| #19 | ESSEX PROPERTY TRUST INC (ESS) - 1.16% | WALMART INC (WMT) - 0.82% |
| #20 | HOST HOTELS & RESORTS INC (HST) - 1.14% | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | INVITATION HOMES INC (INVH) - 1.10% | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | KIMCO REALTY CORP (KIM) - 1.08% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | W.P. CAREY INC (WPC) - 1.04% | CATERPILLAR INC (CAT) - 0.68% |
| #24 | MID-AMERICA APARTMENT COMMUNITIES INC (MAA) - 1.02% | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | SUN COMMUNITIES INC (SUI) - 1.01% | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 128 | 505 |
FREL vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
FREL
+1.09%
SPY
-1.37%
3M
FREL
+10.65%
Winner
SPY
+12.22%
6M
Winner
FREL
+11.97%
SPY
+7.20%
1Y
FREL
+11.43%
Winner
SPY
+23.58%
5Y(CAGR)
FREL
+2.73%
Winner
SPY
+13.19%
10Y(CAGR)
FREL
+5.88%
Winner
SPY
+15.12%
Max(CAGR)
FREL
+5.47%
Winner
SPY
+8.44%
FREL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FREL | SPY |
|---|---|---|
| 2026 | +11.56% | +7.95% |
| 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 -0.77%. The current SPY drawdown is -3.18%.
| 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 - Jun 12, 2026 | -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 very strong positive correlation - the stocks move almost identically together.
0.90
-101
Dividend Comparison (1999 - 2026)
FREL vs SPY dividend yield comparison.
| Year | FREL | SPY |
|---|---|---|
| 2026 | 1.78% | 0.50% |
| 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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