Fidelity MSCI Real Estate Index ETF
FREL
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Feb 5, 2015
- CIK
- 0000945908
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity MSCI Real Estate Index ETF (FREL) is an exchange-traded fund that seeks to track the performance of the MSCI USA IMI Real Estate 25/25 Index, which is a cap-weighted benchmark comprising U.S. real estate investment trusts (REITs) and real estate operating companies across the entire market capitalization spectrum. The fund employs a representative sampling technique to invest in growth and value stocks within the real estate sector, including diversified REITs focused on industrial, residential, office, retail, healthcare, data centers, cell towers, and specialized properties; top holdings include Prologis Inc. (PLD), American Tower Corp. (AMT), Welltower Inc. (WELL), and Equinix Inc. (EQIX). Issued by Fidelity Covington Trust, a Boston-based open-end investment company with administrative offices at 245 Summer Street, Boston, Massachusetts 02210, FREL was launched on February 2, 2015, and is managed primarily by Fidelity Management & Research Company LLC with co-management by BlackRock Fund Advisors. FREL provides investors with broad exposure to the U.S. real estate market through a low-cost vehicle featuring a net expense ratio of 0.08%, quarterly dividend distributions yielding approximately 3.43%, and assets under management exceeding $1 billion; it trades on NYSE Arca and targets institutional and retail investors seeking real estate sector allocation without direct property ownership. The fund holds over 130 securities, emphasizing mid- and large-cap names while including small-cap opportunities, and maintains a blend investment style domiciled in the United States. Fidelity Covington Trust, established around 1995 as part of the broader Fidelity Investments ecosystem founded in 1946, operates FREL within its suite of passive sector ETFs, with no reported major acquisitions, partnerships, or structural changes specific to the fund in 2024 or 2025. Routine portfolio rebalancing occurred, such as adjustments to holdings like Cushman & Wakefield in late 2025, reflecting index methodology updates rather than strategic shifts. Amid Fidelity's broader ETF expansion—including new active equity, fixed income, and alternatives launches in 2024 and 2025—FREL remains a stable, index-tracking offering with consistent dividend payouts, such as $0.256 per share in early 2025.