FREL vs REIT: holdings overlap, shared companies and scores
As of October 9, 2026, FREL and REIT overlap 49.8% by weight. Fidelity MSCI Real Estate Index ETF (FREL): U.S. real estate investment trusts. ALPS Active REIT ETF (REIT): Public REITs for income.
Updated October 9, 2026
Where FREL and REIT trade against their own history
FREL trades at 29.4 times earnings, against its own median of 32.1, and is cheaper than 82% of its own last 9 years.
REIT trades at 29.9 times earnings, against its own median of 31.5, and is cheaper than 69% of its own last 3 years.
What moved FREL this week
FREL rose 1.3% in the week to October 9, 2026. The holdings that moved it most were American Tower (+12.4%), Crown Castle (+19.9%) and SBA Communications (+15.1%); Welltower (−1.0%) pushed the other way.
What do FREL and REIT each hold?
What's inside FREL: Tech 0%.
49% of FREL is its ten largest holdings.
57% of REIT is its ten largest holdings.
How much do FREL and REIT overlap? 49.8% by weight
As of October 9, 2026, FREL and REIT overlap 49.8% by weight.
54% of FREL is already inside REIT.
99% of REIT is already inside FREL.
FREL holds 125 companies and REIT holds 31; 30 are in both.
Computed by ETF Copilot from both funds' holdings rather than quoted from a data provider, and rebuilt nightly.
How does ETF Copilot score FREL and REIT? 2.8 and 2.5 out of 10
As of October 9, 2026, ETF Copilot scores FREL 2.8 out of 10 and REIT 2.5 out of 10.
They differ most on Value: FREL 7.0 and REIT 3.5.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | FREL | REIT |
|---|---|---|
| Growth | 0.6 | 0.4 |
| Value | 7.0 | 3.5 |
| Risk | 3.7 | 4.7 |
| Quality | 3.5 | 3.4 |
| Return | 1.2 | 1.9 |
FREL is the cheaper of the two at 0.08% a year
As of October 9, 2026, FREL charges 0.08% a year, yields 3.54% and holds $1.3B in assets across 125 positions.
As of October 9, 2026, REIT charges 0.68% a year, yields 3.06% and holds $53M in assets across 31 positions.
| Measure | FREL | REIT |
|---|---|---|
| Expense ratio | 0.08% | 0.68% |
| Dividend yield | 3.54% | 3.06% |
| Assets under management | $1.3B | $53M |
| Holdings | 125 | 31 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “FREL vs REIT holdings overlap and scores”, as of October 9, 2026.
https://etf-copilot.com/compare/frel-vs-reit
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