FRI vs KBWY: holdings overlap, shared companies and scores
As of October 9, 2026, FRI and KBWY overlap 5.8% by weight. First Trust S&P REIT Index Fund (FRI): Tracks S&P US REIT Index Invesco KBW Premium Yield Equity REIT ETF (KBWY): Small-mid US equity REITs.
Updated October 9, 2026
Where FRI and KBWY trade against their own history
FRI trades at 30.1 times earnings, against its own median of 30.5, and is cheaper than 57% of its own last 9 years.
KBWY trades at 19.4 times earnings, against its own median of 20.9, and is cheaper than 64% of its own last 8 years.
What moved KBWY this week
KBWY fell 1.0% in the week to October 9, 2026. The holdings that moved it most were Millrose Properties (−9.1%), Global NET Lease (−6.1%) and Alexandria Real Estate Equitie (−3.9%); Innovative Industrial Proper (+2.6%) pushed the other way.
What do FRI and KBWY each hold?
55% of FRI is its ten largest holdings.
45% of KBWY is its ten largest holdings.
How much do FRI and KBWY overlap? 5.8% by weight
As of October 9, 2026, FRI and KBWY overlap 5.8% by weight.
6% of FRI is already inside KBWY.
100% of KBWY is already inside FRI.
FRI holds 128 companies and KBWY holds 28; 28 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 FRI and KBWY? 2.6 and 2.5 out of 10
As of October 9, 2026, ETF Copilot scores FRI 2.6 out of 10 and KBWY 2.5 out of 10.
They differ most on Value: FRI 4.7 and KBWY 7.9.
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 | FRI | KBWY |
|---|---|---|
| Growth | 0.3 | 0.1 |
| Value | 4.7 | 7.9 |
| Risk | 4.2 | 2.6 |
| Quality | 3.6 | 2.6 |
| Return | 1.6 | 1.1 |
KBWY is the cheaper of the two at 0.35% a year
As of October 9, 2026, FRI charges 0.51% a year, yields 2.78% and holds $180M in assets across 128 positions.
As of October 9, 2026, KBWY charges 0.35% a year, yields 9.11% and holds $290M in assets across 28 positions.
| Measure | FRI | KBWY |
|---|---|---|
| Expense ratio | 0.51% | 0.35% |
| Dividend yield | 2.78% | 9.11% |
| Assets under management | $180M | $290M |
| Holdings | 128 | 28 |
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, “FRI vs KBWY holdings overlap and scores”, as of October 9, 2026.
https://etf-copilot.com/compare/fri-vs-kbwy
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