FPRO vs. IYR ETF Comparison

Comparison of Fidelity Real Estate Investment ETF (FPRO) to iShares U.S. Real Estate ETF (IYR)

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

$19.77

Average Daily Volume

1,955

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IYR

iShares U.S. Real Estate ETF

IYR Description

The investment seeks to track the investment results of an index composed of U.S. equities in the real estate sector. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Dow Jones U.S. Real Estate Index (the "underlying index"), which measures the performance of the real estate sector of the U.S. equity market. The underlying index may include large-, mid- or small-capitalization companies, and components primarily include real estate investment trusts ("REITs").

Grade (RS Rating)

Last Trade

$84.46

Average Daily Volume

6,878,079

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FPRO	IYR
30 Days	-3.59%	-3.40%
60 Days	-7.42%	-6.25%
90 Days	-5.03%	-2.67%
12 Months	-1.85%	3.73%

30 Overlapping Holdings

Symbol	Grade	Weight in FPRO	Weight in IYR	Overlap
AIRC	A	1.7%	0.48%	0.48%
AMH	D	1.99%	0.98%	0.98%
AMT	D	1.58%	6.92%	1.58%
CBRE	D	3.55%	2.25%	2.25%
CCI	D	4.99%	3.6%	3.6%
COLD	F	1.33%	0.53%	0.53%
CUBE	D	3.44%	0.82%	0.82%
DLR	B	3.41%	3.65%	3.41%
ELS	D	0.51%	1.0%	0.51%
EQIX	F	7.07%	4.68%	4.68%
EQR	A	2.45%	1.9%	1.9%
EXR	C	1.39%	2.45%	1.39%
GLPI	F	0.5%	1.01%	0.5%
INVH	B	1.39%	1.71%	1.39%
IRM	D	2.19%	1.94%	1.94%
KIM	C	3.5%	1.08%	1.08%
LAMR	B	1.34%	0.87%	0.87%
MAA	B	2.92%	1.3%	1.3%
NNN	A	3.39%	0.65%	0.65%
O	B	1.06%	3.86%	1.06%
PLD	D	11.77%	8.25%	8.25%
PSA	D	5.07%	3.61%	3.61%
REG	F	1.69%	0.86%	0.86%
SBAC	F	5.27%	1.86%	1.86%
STAG	D	0.64%	0.56%	0.56%
SUI	F	3.2%	1.3%	1.3%
UDR	B	2.98%	0.98%	0.98%
VTR	B	5.75%	1.53%	1.53%
WELL	A	2.58%	4.47%	2.58%
WY	D	1.33%	2.01%	1.33%

FPRO Overweight 9 Positions Relative to IYR

Symbol	Grade	Weight
DRH	D	1.45%
PECO	D	1.22%
UE	B	1.2%
SITC	C	1.07%
TRNO	D	0.8%
FCPT	C	0.74%
RHP	D	0.71%
DBRG	F	0.67%
SKT	D	0.46%

FPRO Underweight 42 Positions Relative to IYR

Symbol	Grade	Weight
SPG	D	-4.07%
CSGP	C	-3.0%
VICI	D	-2.57%
AVB	A	-2.33%
ARE	D	-1.64%
ESS	A	-1.35%
HST	D	-1.19%
DOC	A	-1.14%
WPC	C	-1.07%
CPT	A	-0.92%
NLY	A	-0.81%
REXR	D	-0.8%
BXP	F	-0.79%
JLL	C	-0.76%
EGP	F	-0.69%
FRT	B	-0.66%
OHI	A	-0.65%
Z	F	-0.61%
BRX	C	-0.57%
AGNC	B	-0.56%
FR	D	-0.53%
STWD	C	-0.51%
ADC	B	-0.5%
HR	C	-0.48%
RITM	A	-0.47%
VNO	D	-0.38%
RYN	F	-0.36%
KRC	D	-0.31%
CUZ	A	-0.3%
PCH	D	-0.29%
BXMT	F	-0.29%
SBRA	B	-0.28%
NSA	D	-0.24%
MPW	C	-0.24%
LXP	D	-0.23%
CDP	A	-0.23%
ZG	F	-0.19%
HHH	D	-0.18%
DEI	B	-0.17%
OPEN	F	-0.11%
JBGS	F	-0.09%
NLOP	C	-0.03%