FREL vs. URE ETF Comparison

Comparison of Fidelity MSCI Real Estate Index ETF (FREL) to ProShares Ultra Real Estate (URE)

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

$29.13

Average Daily Volume

168,084

Number of Holdings ^*

140

* may have additional holdings in another (foreign) market

URE

ProShares Ultra Real Estate

URE Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Dow Jones U.S. Real EstateSM Index. The fund invests in securities and derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times (2x) the daily return of the index. The index measures the performance of the real estate sector of the U.S. equity market. Component companies include, among others, real estate holding and development and real estate services companies and real estate investment trusts ("REITs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$73.22

Average Daily Volume

5,703

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FREL	URE
30 Days	-0.24%	-1.91%
60 Days	-1.75%	-4.83%
90 Days	2.47%	2.35%
12 Months	26.25%	44.77%

31 Overlapping Holdings

Symbol	Grade	Weight in FREL	Weight in URE	Overlap
AMT	D	6.08%	5.45%	5.45%
ARE	D	1.14%	0.96%	0.96%
AVB	B	2.16%	1.91%	1.91%
BXP	D	0.79%	0.67%	0.67%
CBRE	B	2.71%	2.35%	2.35%
CCI	D	2.99%	2.67%	2.67%
CPT	B	0.86%	0.75%	0.75%
CSGP	D	2.05%	1.77%	1.77%
DLR	B	3.77%	3.31%	3.31%
DOC	D	1.01%	0.86%	0.86%
EQIX	A	5.7%	5.08%	5.08%
EQR	B	1.66%	1.49%	1.49%
ESS	B	1.3%	1.14%	1.14%
EXR	D	2.32%	2.05%	2.05%
FRT	B	0.56%	0.5%	0.5%
HST	C	0.82%	0.72%	0.72%
INVH	D	1.37%	1.14%	1.14%
IRM	D	2.22%	1.99%	1.99%
KIM	A	1.12%	0.99%	0.99%
MAA	B	1.23%	1.09%	1.09%
O	D	3.23%	2.9%	2.9%
PLD	D	7.1%	6.23%	6.23%
PSA	D	3.51%	3.12%	3.12%
REG	B	0.86%	0.71%	0.71%
SBAC	D	1.58%	1.4%	1.4%
SPG	B	3.89%	3.25%	3.25%
UDR	B	0.93%	0.78%	0.78%
VICI	C	2.18%	1.96%	1.96%
VTR	C	1.72%	1.55%	1.55%
WELL	A	5.08%	4.66%	4.66%
WY	D	1.5%	1.33%	1.33%

FREL Overweight 109 Positions Relative to URE

Symbol	Grade	Weight
SUI	D	1.03%
GLPI	C	0.89%
ELS	C	0.85%
JLL	D	0.84%
AMH	D	0.82%
WPC	D	0.8%
Z	A	0.79%
LAMR	D	0.75%
CUBE	D	0.72%
OHI	C	0.65%
REXR	F	0.61%
BRX	A	0.58%
EGP	F	0.56%
NNN	D	0.51%
ADC	B	0.51%
FR	C	0.47%
VNO	B	0.46%
STAG	F	0.45%
RHP	B	0.43%
TRNO	F	0.4%
COLD	D	0.4%
KRG	B	0.4%
EPRT	B	0.37%
SLG	B	0.34%
CUZ	B	0.32%
IRT	A	0.32%
PECO	A	0.31%
SBRA	C	0.29%
KRC	C	0.29%
CTRE	D	0.28%
RYN	D	0.28%
MAC	B	0.28%
SKT	B	0.26%
APLE	B	0.24%
EPR	D	0.23%
HIW	D	0.23%
NHI	D	0.23%
PK	B	0.22%
NSA	D	0.22%
PCH	D	0.22%
CDP	C	0.22%
BNL	D	0.21%
DEI	B	0.2%
UE	C	0.19%
LXP	D	0.19%
AKR	B	0.18%
HHH	B	0.18%
FCPT	C	0.18%
MPW	F	0.17%
OUT	A	0.17%
COMP	B	0.17%
CWK	B	0.16%
ROIC	A	0.15%
IVT	B	0.15%
NMRK	B	0.15%
EQC	B	0.14%
SHO	C	0.13%
DRH	B	0.13%
JOE	F	0.12%
XHR	B	0.11%
GTY	B	0.11%
LTC	B	0.11%
ELME	D	0.1%
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	D	0.09%
ALEX	C	0.09%
UMH	C	0.09%
AAT	B	0.09%
NTST	D	0.08%
KW	B	0.08%
DEA	D	0.08%
OPEN	D	0.07%
AIV	C	0.07%
NXRT	B	0.07%
CSR	B	0.07%
RDFN	D	0.07%
MMI	B	0.07%
EXPI	C	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	A	0.03%
DHC	F	0.03%
SVC	F	0.03%
CLDT	B	0.03%
PKST	D	0.03%
BFS	C	0.03%
HPP	F	0.03%
CHCT	C	0.03%
TRC	F	0.02%
RMR	F	0.02%
CBL	A	0.02%

FREL Underweight 0 Positions Relative to URE

	Symbol	Grade	Weight