FREL

Fidelity MSCI Real Estate Index ETF
*Unless otherwise stated, data provided by FactSet.

FREL Fund Description

FREL tracks a cap-weighted index of US REIT and real estate companies across the entire market-cap spectrum.

FREL Factset Analytics Insight

FREL is one of ten Fidelity ETFs that track MSCI sector indexes. The fund targets companies in the US real estate sector as defined by the GICS sector classification scheme. The fund is both broad and representative, and it differs mostly by including a handful of non-REIT real estate firms. To meet diversification requirements, the fund’s underlying index employs a capping methodology, such that no group entity exceeds 25% of index weight and the aggregate weight of issuers with over 5% weight in the index are capped at 50% weight of the portfolio. Prior to December 1, 2020, FREL tracked the unconstrained MSCI USA IMI Real Estate Index. Like all real estate ETFs, FREL’s distributions are taxed as ordinary income.

FREL MSCI ESG Analytics Insight

Fidelity MSCI Real Estate Index ETF has an MSCI ESG Fund Rating of BBB based on a score of 5.32 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Fidelity MSCI Real Estate Index ETF ranks in the 31st percentile within its peer group and in the 83th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

FREL MSCI FaCS and Factor Box

MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.

PERFORMANCE [as of 09/15/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
FREL -0.03% 1.79% 27.39% 34.66% 12.94% 10.12% --
FREL (NAV) 0.41% 3.29% 27.95% 33.67% 13.06% 10.12% --
MSCI US Investable Market Real Estate 25/50 Transition Index 0.42% 3.49% 27.97% 33.73% 13.21% 10.24% 11.38%
Thomson Reuters US Residential & Commercial REITs -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FREL Summary Data

Fidelity
02/02/15
Open-Ended Fund
0.09%
$1.97B
$11.86M
0.03%

FREL Portfolio Data

$38.72B
83.48
3.15
2.79%
09/17/21
165

FREL Index Data

MSCI US Investable Market Real Estate 25/50 Transition Index
Market Cap
Market Cap
Thomson Reuters US Residential & Commercial REITs

FREL Portfolio Management

0.09%
-0.13%
0.23%
-0.42%

FREL Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

FREL Fund Structure

Open-Ended Fund
No
No
-- / --
N/A
N/A
Low
Daily

FREL Factset Analytics Block Liquidity

As of 09/16/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of FREL. FREL is rated a 5 out of 5.

FREL Tradability

371,573
$11.86M
308,772
$9.72M
0.03%
$0.01
0.04%
0.16% / -0.10%
None
98.00%
50,000
6.18
0.03%
0.02%
86
$32.01
5

FREL Sector/Industry Breakdown


FREL
Segment Benchmark
39.61%
44.77%
38.30%
38.30%
14.46%
14.55%
4.02%
--
0.77%
0.05%
0.71%
0.72%
0.05%
--

FREL Countries


FREL
Segment Benchmark
100.00%
100.00%

FREL Regions


FREL
Segment Benchmark
100.00%
100.00%

FREL Economic Development


FREL
Segment Benchmark
100.00%
100.00%

FREL Performance Statistics

1.00
1.02
1.02
1.02
0.07%
Thomson Reuters US Residential & Commercial REITs

FREL MSCI ESG Ratings

5.32 / 10
82.78
31.46
0.75%
13.05%
118.90

FREL Benchmark Comparison Holdings

165
176
141
91.00%

FREL Benchmark Comparison Summary


FREL
Segment Benchmark
165
176
$38.72B
$40.27B
83.48
56.62
3.15
2.98
2.53%
2.89%
Medium
Medium

FREL Benchmark Comparison Market Cap Size


FREL
Segment Benchmark
66.61%
67.59%
26.78%
26.14%
6.27%
6.10%
0.33%
0.17%