Data as of Oct 28, 2026.
FREL vs USRT: Differences, Returns & Fees
Over the year to Oct 28, 2026, FREL returned +4.6% to USRT's +10.0%; 22% of their weight is in the same names.
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askIQ about FREL and USRT
Net assets: $1.3bn on Sep 30, 2026 for Fidelity MSCI Real Estate Index ETF, and $4.2bn on Oct 27, 2026 for iShares Core U.S. REIT ETF.
Pair scorecard
Both cost 0.08% a year; their one-year returns differ by 5.4 points; USRT is 3.3 times larger.
| Measure | FREL | USRT |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.6% | +10.0% |
| Drawdown | ||
| Below its high | 8.4%, high on Jul 28, 2026 | 9.9%, high on Jul 24, 2026 |
| Benchmark | ||
| What it tracks | MSCI USA IMI Real Estate 25/25 Index | FTSE Nareit Equity REITs 40 Act Capped Index |
| Cost and size | ||
| Expense ratio | 0.08% | 0.08% |
| Net assets, as of Sep 30, 2026 | $1.3bn | $4.3bn |
| Holdings | ||
| Holdings in common | 22% | |
| Top ten holdings, share of the fund | 47.5% | 50.1% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Feb 13, 2015 to Oct 23, 2026 · 610 weekly returnsUSRT returned more: +91.9% to +80.6%. FREL swung slightly less: 21.0% to 21.8%. FREL fell slightly less at its worst: −39.3% to −42.0%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FREL | USRT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +80.6% | +91.9% | USRT | Price change plus distributions, reinvested. |
| Annualized | +5.2% | +5.7% | USRT (slight) | Total return as a yearly rate. |
| Price return | +16.7% | +28.3% | USRT | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.0% | 21.8% | FREL (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.6% | 15.2% | FREL (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −39.3% | −42.0% | FREL (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.24 | 0.27 | USRT (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.35 | 0.38 | USRT (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.13 | 0.14 | USRT (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 610 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FREL and USRT hold 22% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
22% in common
Only in one fund ↓
Side by side
FREL and USRT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FREL and USRT are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FREL follows MSCI USA IMI Real Estate 25/25 Index and USRT follows FTSE Nareit Equity REITs 40 Act Capped Index.
- Holdings in common. 22% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FREL returned +4.6% and USRT +10.0% with distributions reinvested, a gap of 5.4 points.
Data as of Oct 28, 2026.
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FREL
FREL tracks an index. Over the year to Oct 28, 2026 it returned +4.6% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings filed for Jul 31, 2026, 73% of the fund by weight is stocks the S&P 500 also holds, across 122 positions, with the top ten at 47.5%. It sat 8.4% below its high of Jul 28, 2026 on Oct 28, 2026.
USRT
USRT tracks an index. Over the year to Oct 28, 2026 it returned +10.0% with distributions reinvested. By its holdings published by its issuer for Oct 27, 2026, 69% of the fund by weight is stocks the S&P 500 also holds, across 124 positions, with the top ten at 50.1%. It sat 9.9% below its high of Jul 24, 2026 on Oct 28, 2026.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FREL against USRT, data as of Oct 28, 2026. https://etfiq.com/compare/any/frel-vs-usrt
ETFIQ. (Oct 28, 2026). FREL against USRT. Retrieved from https://etfiq.com/compare/any/frel-vs-usrt
[FREL against USRT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/frel-vs-usrt)
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