FPRO vs. FREL ETF Comparison

Comparison of Fidelity Real Estate Investment ETF (FPRO) to Fidelity MSCI Real Estate Index ETF (FREL)

FPRO

Fidelity Real Estate Investment ETF

FPRO Description

The investment seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and is not required to publicly disclose its complete portfolio holdings each business day. The fund normally invests at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. It invests in domestic and foreign issuers. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.71

Average Daily Volume

5,652

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FREL

Fidelity MSCI Real Estate Index ETF

FREL Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the fund&#39;s underlying index. The fund&#39;s underlying index is the MSCI USA IMI Real Estate Index, which represents the performance of the real estate sector in the U.S. equity market. The fund may or may not hold all of the securities in the MSCI USA IMI Real Estate Index.

Grade (RS Rating)

Last Trade

$28.91

Average Daily Volume

168,611

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

Performance

Period	FPRO	FREL
30 Days	-0.13%	-0.21%
60 Days	-1.78%	-1.57%
90 Days	0.85%	1.70%
12 Months	20.89%	25.30%

40 Overlapping Holdings

Symbol	Grade	Weight in FPRO	Weight in FREL	Overlap
AKR	B	0.24%	0.18%	0.18%
AMH	C	2.09%	0.82%	0.82%
AMT	C	9.56%	6.08%	6.08%
CBRE	B	4.11%	2.71%	2.71%
CCI	C	2.18%	2.99%	2.18%
COLD	D	2.21%	0.4%	0.4%
COMP	B	0.55%	0.17%	0.17%
CPT	B	1.08%	0.86%	0.86%
CSGP	D	1.36%	2.05%	1.36%
CUBE	C	3.33%	0.72%	0.72%
DLR	B	3.31%	3.77%	3.31%
DRH	B	0.02%	0.13%	0.02%
ELME	D	0.42%	0.1%	0.1%
ELS	C	0.4%	0.85%	0.4%
EQIX	A	7.21%	5.7%	5.7%
EQR	C	2.75%	1.66%	1.66%
EXR	C	1.92%	2.32%	1.92%
FCPT	C	0.84%	0.18%	0.18%
INVH	D	1.57%	1.37%	1.37%
IVT	A	0.09%	0.15%	0.09%
KIM	A	3.9%	1.12%	1.12%
LAMR	C	1.29%	0.75%	0.75%
MAA	B	2.02%	1.23%	1.23%
MAC	B	0.34%	0.28%	0.28%
NNN	C	3.78%	0.51%	0.51%
PECO	A	0.77%	0.31%	0.31%
PLD	F	10.01%	7.1%	7.1%
PSA	C	5.89%	3.51%	3.51%
REG	A	0.92%	0.86%	0.86%
RHP	B	0.45%	0.43%	0.43%
SBAC	D	1.17%	1.58%	1.17%
SKT	A	0.68%	0.26%	0.26%
STAG	D	1.07%	0.45%	0.45%
SUI	C	2.69%	1.03%	1.03%
TRNO	F	0.73%	0.4%	0.4%
UDR	B	3.51%	0.93%	0.93%
UE	B	1.36%	0.19%	0.19%
VTR	B	5.69%	1.72%	1.72%
WELL	A	5.23%	5.08%	5.08%
WY	F	0.64%	1.5%	0.64%

FPRO Overweight 0 Positions Relative to FREL

	Symbol	Grade	Weight

FPRO Underweight 100 Positions Relative to FREL

Symbol	Grade	Weight
SPG	A	-3.89%
O	C	-3.23%
IRM	C	-2.22%
VICI	C	-2.18%
AVB	B	-2.16%
ESS	B	-1.3%
ARE	F	-1.14%
DOC	C	-1.01%
GLPI	C	-0.89%
JLL	D	-0.84%
HST	C	-0.82%
WPC	C	-0.8%
Z	A	-0.79%
BXP	C	-0.79%
OHI	C	-0.65%
REXR	F	-0.61%
BRX	A	-0.58%
EGP	D	-0.56%
FRT	B	-0.56%
ADC	A	-0.51%
FR	D	-0.47%
VNO	C	-0.46%
KRG	B	-0.4%
EPRT	B	-0.37%
SLG	B	-0.34%
CUZ	B	-0.32%
IRT	A	-0.32%
SBRA	C	-0.29%
KRC	B	-0.29%
CTRE	C	-0.28%
RYN	D	-0.28%
APLE	B	-0.24%
EPR	C	-0.23%
HIW	C	-0.23%
NHI	D	-0.23%
PK	C	-0.22%
NSA	C	-0.22%
PCH	F	-0.22%
CDP	C	-0.22%
BNL	D	-0.21%
DEI	B	-0.2%
LXP	D	-0.19%
HHH	B	-0.18%
MPW	F	-0.17%
OUT	A	-0.17%
CWK	C	-0.16%
ROIC	A	-0.15%
NMRK	C	-0.15%
EQC	B	-0.14%
SHO	D	-0.13%
JOE	F	-0.12%
XHR	B	-0.11%
GTY	A	-0.11%
LTC	B	-0.11%
ESRT	C	-0.1%
PEB	D	-0.1%
RLJ	C	-0.1%
GNL	F	-0.1%
PDM	D	-0.09%
UNIT	B	-0.09%
VRE	B	-0.09%
JBGS	F	-0.09%
ALEX	B	-0.09%
UMH	B	-0.09%
AAT	B	-0.09%
NTST	C	-0.08%
KW	C	-0.08%
DEA	D	-0.08%
OPEN	F	-0.07%
AIV	C	-0.07%
NXRT	B	-0.07%
CSR	B	-0.07%
RDFN	D	-0.07%
MMI	C	-0.07%
EXPI	D	-0.07%
AHH	D	-0.06%
PGRE	F	-0.06%
PLYM	F	-0.06%
BDN	C	-0.06%
INN	D	-0.05%
FOR	F	-0.05%
WSR	A	-0.05%
GOOD	B	-0.05%
FPI	B	-0.04%
ALX	D	-0.04%
UHT	D	-0.04%
GMRE	F	-0.04%
OLP	B	-0.04%
LAND	F	-0.03%
FRPH	B	-0.03%
DHC	F	-0.03%
SVC	F	-0.03%
CLDT	B	-0.03%
PKST	F	-0.03%
BFS	C	-0.03%
HPP	F	-0.03%
CHCT	C	-0.03%
TRC	F	-0.02%
RMR	F	-0.02%
CBL	B	-0.02%