FREL vs VTEI

Comparison between FIDELITY MSCI REAL ESTATE INDEX ETF (FREL, ETF) and VANGUARD INTERMEDIATE-TERM TAX-EXEMPT BOND ETF ETF SHARES (VTEI, ETF).

FREL vs VTEI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FREL(ETF)	VTEI(ETF)
Net Assets	$1.30B	$1.30B
Expense Ratio	0.08%	0.08%
Max Drawdown	43.46%	4.79%
Sharpe Ratio	0.69	0.92
5Y Beta	0.54	0.02
P/E Ratio	33.38	N/A
Forward P/E	32.48	N/A
5Y Dividends CAGR	1.14%	N/A
5Y EPS CAGR	9.30%	N/A
Debt to Equity	4.49%	N/A
P/S Ratio	5.39	N/A
P/B Ratio	2.64	N/A

Net Assets

FREL

$1.30B

VTEI

$1.30B

Expense Ratio

FREL

0.08%

VTEI

0.08%

Max Drawdown

FREL

43.46%

Winner

VTEI

4.79%

Sharpe Ratio

FREL

0.69

Winner

VTEI

0.92

5Y Beta

FREL

0.54

Winner

VTEI

0.02

P/E Ratio

FREL

33.38

VTEI

N/A

Forward P/E

FREL

32.48

VTEI

N/A

5Y Dividends CAGR

FREL

1.14%

VTEI

N/A

5Y EPS CAGR

FREL

9.30%

VTEI

N/A

Debt to Equity

FREL

4.49%

VTEI

N/A

P/S Ratio

FREL

5.39

VTEI

N/A

P/B Ratio

FREL

2.64

VTEI

N/A

FREL vs VTEI - Historical Returns

Returns include dividend reinvestment.

Period	FREL	VTEI
1 month	+4.97%	+0.39%
3 months	+5.32%	-0.54%
6 months	+9.00%	+1.40%
1 year	+13.21%	+6.00%
5 years(CAGR)	+3.42%	N/A
10 years(CAGR)	+5.78%	N/A
Max(CAGR)	+5.41%	+3.05%

Winner

FREL

+4.97%

VTEI

+0.39%

Winner

FREL

+5.32%

VTEI

-0.54%

Winner

FREL

+9.00%

VTEI

+1.40%

Winner

FREL

+13.21%

VTEI

+6.00%

5Y(CAGR)

FREL

+3.42%

VTEI

N/A

10Y(CAGR)

FREL

+5.78%

VTEI

N/A

Max(CAGR)

Winner

FREL

+5.41%

VTEI

+3.05%

FREL vs VTEI - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	FREL	VTEI
2026	+10.17%	+0.75%
2025	+4.07%	+4.48%
2024	+4.10%	+1.55%
2023	+11.62%	N/A
2022	-25.63%	N/A
2021	+45.48%	N/A
2020	-3.56%	N/A
2019	+31.79%	N/A
2018	-4.08%	N/A
2017	+8.56%	N/A
2016	+9.36%	N/A
2015	-4.72%	N/A

FREL vs VTEI Drawdown Comparison

The maximum drawdown for FREL was -42.57%, occurring on Mar 23, 2020. Recovery took 293 trading sessions.

The maximum drawdown for VTEI was -3.64%, occurring on Apr 10, 2025. Recovery took 128 trading sessions.

The current FREL drawdown is -1.57%. The current VTEI drawdown is -1.16%.

Rank	FREL	VTEI
#1	-42.57% Feb 14, 2020 - Apr 15, 2021	-3.64% Mar 3, 2025 - Sep 4, 2025
#2	-34.37% Dec 31, 2021 - Oct 25, 2023	-2.61% Feb 27, 2026 - Mar 26, 2026
#3	-15.67% Feb 5, 2015 - Apr 1, 2016	-2.06% Feb 1, 2024 - Jul 12, 2024
#4	-14.14% Aug 1, 2016 - Sep 18, 2017	-1.87% Oct 2, 2024 - Dec 4, 2024
#5	-12.75% Dec 6, 2018 - Jan 30, 2019	-1.80% Dec 4, 2024 - Feb 25, 2025
#6	-12.43% Dec 18, 2017 - Jun 29, 2018	-0.69% Aug 5, 2024 - Aug 23, 2024
#7	-8.54% Aug 29, 2018 - Dec 6, 2018	-0.36% Nov 11, 2025 - Nov 28, 2025
#8	-7.53% Sep 3, 2021 - Oct 28, 2021	-0.35% Sep 23, 2025 - Oct 10, 2025
#9	-5.49% Nov 24, 2021 - Dec 7, 2021	-0.26% Aug 23, 2024 - Sep 5, 2024
#10	-5.47% Oct 21, 2019 - Jan 16, 2020	-0.21% Nov 28, 2025 - Dec 22, 2025
#11	-5.38% May 10, 2016 - Jun 23, 2016	-0.20% Jan 15, 2026 - Jan 27, 2026
#12	-5.11% Jun 20, 2019 - Jul 10, 2019	-0.19% Jul 12, 2024 - Jul 30, 2024
#13	-4.48% Apr 30, 2021 - May 26, 2021	-0.18% Oct 22, 2025 - Nov 11, 2025
#14	-4.10% Apr 12, 2019 - Jun 5, 2019	-0.14% Sep 17, 2024 - Sep 27, 2024
#15	-3.80% Jul 10, 2019 - Aug 8, 2019	-0.12% Feb 26, 2025 - Feb 28, 2025

Correlation

Correlation between FREL and VTEI is 0.78 which considered as a strong positive correlation - the stocks tend to move together.

0.78

-101

Dividend Comparison (2015 - 2026)

FREL vs VTEI dividend yield comparison.

Year	FREL	VTEI
2026	0.85%	1.03%
2025	3.59%	3.00%
2024	3.48%	2.65%
2023	3.73%	0.00%
2022	3.57%	0.00%
2021	2.34%	0.00%
2020	3.77%	0.00%
2019	3.32%	0.00%
2018	5.54%	0.00%
2017	3.27%	0.00%
2016	4.01%	0.00%
2015	3.80%	0.00%