FREL vs IVV
Fidelity MSCI Real Estate Index ETF vs iShares Core S&P 500 ETF
Which is better, FREL or IVV?
All Cap Blend against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 48.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FREL | IVV |
|---|---|---|
| Expense Ratio | 0.08% | 0.03%Best |
| AUM | $1.5B | $876.4B |
| Dividend Yield | 3.27% | 1.06% |
| Holdings | 126 | 508 |
| YTD Return | +8.38% | +12.01%Best |
| 1Y Return | +5.25% | +16.48%Best |
| 3Y Return (annualized) | +9.01% | +21.21%Best |
| 5Y Return (annualized) | +1.31% | +12.95%Best |
| Volatility (annualized) | 17.1% | 15.1%Best |
| Max Drawdown | -43.5% | -33.9%Best |
| $10,000 over 5 years | $10,672 | $18,384Best |
| Top 10 Weight | 48.5% | 37.8%Best |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Feb 2, 2015 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Feb 5, 2015 to Sep 14, 2026 (11.6 years).
FREL vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11.6 years both funds cover.
FREL vs IVV Performance
Fidelity MSCI Real Estate Index ETF (FREL) is an ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FREL returned +5.25% while IVV returned +16.48%. Year to date, FREL is up 8.38% versus a gain of 12.01% for IVV.
Over three years, FREL compounded at +9.01% per year against +21.21% for IVV; over five years the annualized figures are +1.31% and +12.95% respectively. Across the full 12-year window we track, IVV has the edge at +12.63% annualized vs +2.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FREL has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -43.5% for FREL and -33.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FREL charges 0.08% per year while IVV charges 0.03%. On a $10,000 position that is $8 vs $3 annually, a gap of $5 per year that compounds over a long holding period. On income, FREL currently yields 3.27% against 1.06% for IVV.
Holdings Overlap
73.2% of FREL's money is in holdings IVV also owns. 1.8% of IVV's money is in holdings FREL also owns.
Most of FREL is already inside IVV. Owning both mostly buys the same companies twice.
30 positions in common, counted across the 123 positions we hold weights for in FREL and 490 in IVV, against full books of 126 and 508.
What only one of them owns
Measured across the 123 and 490 positions we hold weights for.
IVV holds 452 positions FREL does not, 96.8% of the fund.
Largest: NVDA 8.07%, AAPL 7.02%, MSFT 5.69%, AMZN 3.84%, GOOGL 3.00%
Top Shared Holdings
| Stock | Weight in FREL | Weight in IVV | Difference |
|---|---|---|---|
| WELLWelltower, Inc. | 9.43% | 0.25% | 9.18% |
| PLDPrologis Inc | 7.81% | 0.20% | 7.61% |
| EQIXEquinix Inc. Real Estate Investment Trust | 5.54% | 0.16% | 5.38% |
| AMTAmerican Tower Corporation | 4.56% | 0.12% | 4.44% |
| SPGSimon Property Group Inc | 4.38% | 0.10% | 4.28% |
| DLRDigital Realty Trust Inc. | 4.00% | 0.10% | 3.90% |
| ORealty Income Corp. | 3.59% | 0.09% | 3.50% |
| PSAPublic Storage | 3.34% | 0.08% | 3.26% |
| EQRVivmark Residential | 3.06% | 0.07% | 2.99% |
| CBRECbre Services Inc | 2.80% | 0.06% | 2.74% |
73.2% of FREL is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FREL or IVV?
FREL has an expense ratio of 0.08% while IVV charges 0.03%. IVV is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, FREL or IVV?
Over the past year FREL returned +5.25% vs +16.48% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (12 years), FREL annualized +2.93% vs +12.63% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FREL or IVV?
FREL has been the more volatile fund at 17.1% annualized versus 15.1% for IVV. Worst drawdown: FREL -43.5% vs IVV -33.9%.
Should I hold both FREL and IVV?
FREL and IVV have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FREL and IVV?
73.2% of FREL's money is in holdings IVV also owns. 1.8% of IVV's is in holdings FREL also owns. They hold 30 positions in common, counted across the 123 positions we hold weights for in FREL and 490 in IVV.
Which pays a higher dividend, FREL or IVV?
FREL yields 3.27% while IVV yields 1.06%, so FREL currently pays the higher dividend yield.
Is IVV better than FREL?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 48.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.