FPRO
Fidelity Real Estate Investment ETF
FPRO is an actively-managed, non-transparent ETF that invests in global real estate companies.
Global
EQUITY
Active
MANAGEMENT STYLE
$ 14.9 M
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Inception date | Feb 02, 2021 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Non-transparent |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PROLOGIS INC | 10.6 % |
| WELLTOWER, INC. | 8.6 % |
| EQUINIX INC | 8.1 % |
| AMERICAN TOWER CORP-CL A | 8.0 % |
| KIMCO REALTY CORP | 4.5 % |
| NATIONAL RETAIL PROPERTIES | 4.3 % |
| VENTAS INC | 4.2 % |
| PUBLIC STORAGE | 3.9 % |
| CBRE GROUP, INC. CLASS A | 3.8 % |
| UDR INC | 3.4 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 484 |
| Wgt avg mkt cap (mns) | $48,785 |
| Large cap (>$10bn) | 79.5% |
| Mid cap ($2-10bn) | 17.4% |
| Small cap (<$2bn) | 0.3% |
| Developed mkts. | 97.5% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 97.5 % |
Historical Performance
Standardized Performance (as of 03/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 2.5% | -0.5% | 4.1% | 3.6% | 1.7% | -- | -- | 2.6% |
| Dividend Yield | 0.0% | 2.0% | 2.3% | 2.6% | 2.5% | -- | -- | 2.5% |
| Total Returns | 2.5% | 1.5% | 6.4% | 6.1% | 4.2% | -- | -- | 5.1% | Ann. Volatility | 14.7% | 16.6% | 16.2% | 16.7% | 18.7% | -- | -- | 18.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.55 | 39% |
| MSCI EAFE | 0.62 | 43% |
| MSCI Emg Mkts | 0.41 | 25% |
Liquidity Measures
| Avg. volume (000) | 3 |
| ADV traded (mns) | $0 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.24% |
Technical Indicators
| 30d moving avg. (EMA) | $23.97 |
| Relative strength (RSI) | 60 |
| MACD/Signal | 0.34/0.26 |
| Bollinger Bands (Upper/Lower) | $25.44/$22.35 |
| Short interest (% of AUM) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FPRO |
Expenses vs. FPRO |
ALTAR Score™ vs. FPRO |
|---|---|---|---|---|
| XLRE | Real Estate Select Sector SPDR | 63.7% | -51 bp | +0.7% |
| VNQ | Vanguard Real Estate ETF | 61.5% | -46 bp | +0.5% |
| IYR | iShares U.S. Real Estate ETF | 60.5% | -19 bp | +0.5% |
| ICF | iShares Cohen & Steers REIT ETF | 59.7% | -26 bp | +0.9% |
| FREL | Fidelity MSCI Real Estate Index ETF | 58.4% | -51 bp | +0.8% |
| JPRE | JPMorgan Realty Income ETF | 56.1% | -9 bp | +0.7% |
| SCHH | Schwab U.S. REIT ETF | 56.0% | -52 bp | +1.0% |
| DFAR | Dimensional US Real Estate ETF | 55.1% | -40 bp | +1.0% |
| USRT | iShares Core U.S. REIT ETF | 53.5% | -51 bp | +0.8% |
| RWR | State Street SPDR Dow Jones REIT ETF | 52.7% | -34 bp | +0.6% |
Risk and Returns: FPRO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/30/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
6.7%
ALTAR SCORE™
81st
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 586 funds in the Global Equity category with an average
ALTAR Score™ of 4.3% and a standard deviation
of 2.6%. FPRO's ALTAR Score™ is approximately 0.9 standard
deviations above the category average. This places FPRO in the 81st percentile
among funds in the category.
Sell-Side Consensus
$26.77
PRICE TARGET
+7.8%
UPSIDE