Fidelity Real Estate Investment ETF (FPRO) Performance
FPRO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.0% since Dec 31, 2025
- 1 year
- +5.8% total return
- 5 years
- +1.5% a year
- Since first price
- +5.8% a year since 2021
FPRO trailing returns vs SPY, QQQ, AGG
| Period | FPRO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.8% | +0.8% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.6% | −6.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.2% | −3.5% | +7.8% | +8.4% | −1.5% |
| YTD | +9.0% | +6.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.8% | +3.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.7%+13.1%/yr | +33.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +7.6%+1.5%/yr | −5.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 4, 2021 | +37.7%+5.8%/yr | +19.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FPRO vs SPY
From Feb 4, 2021: FPRO grew to $13,774, SPY to $21,246.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FPRO returns by calendar year
3 of 4 full years positive. Best 2023 (+10.9%), worst 2022 (−25.0%). 2026 is year to date.
FPRO annual returns table
| Year | FPRO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.0% | −11.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.6% | −14.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.6% | −11.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +10.9% | −21.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −25.0% | −31.5% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FPRO largest drawdowns
Now 7.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 31, 2021 | −32.8% | Oct 27, 2023 | Apr 16, 2026 | 1.8 years | 4.3 years |
| Jul 24, 2026 | −11.0% | Oct 7, 2026 | not yet | 2 months | 3 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FPRO risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +10.3% | +2.2% | +5.4% |
| Volatility (annualized) | 16.1% | 19.0% | 18.8% |
| Sharpe ratio | 0.42 | 0.02 | 0.20 |
| Sortino ratio | 0.67 | 0.03 | 0.30 |
| Best month | +11.9% | +11.9% | +11.9% |
| Worst month | −8.3% | −12.8% | −12.8% |
| Best 12 months | +33.3% | +33.3% | +33.3% |
| Worst 12 months | −4.3% | −25.0% | −25.0% |
| Positive months | 56% | 50% | 54% |
| Beta vs S&P 500 | 0.81 | 0.93 | — |
| Correlation with S&P 500 | 0.62 | 0.77 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FPRO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 57 | −25.0% | +3.8% | +33.3% | 58% |
| 3-year (a year) | 33 | −4.2% | +3.5% | +12.4% | 76% |
| 5-year (a year) | 9 | +1.4% | +3.7% | +6.7% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
FPRO performance overview
Fidelity Real Estate Investment ETF (FPRO) returned +5.8% over the past year and +1.5% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +5.8% a year, turning $10,000 into about $13,774. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.8%, from Dec 31, 2021 to Oct 27, 2023, and it took 2.5 years to get back to the old high. FPRO finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+10.9%) and the worst 2022 (−25.0%). Volatility has been 18.8% a year.
Related: FPRO chart, FPRO holdings, FPRO dividends, FPRO valuation. See the FPRO overview for the latest quote and fund facts.
FPRO performance FAQ
What is the FPRO return over the past year?
FPRO returned +5.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.1%.
What is the average annual return of FPRO?
FPRO has returned +1.5% a year over 5 years, +5.8% a year since February 4, 2021 (total return, distributions reinvested).
How much would $10,000 invested in FPRO be worth?
$10,000 invested in FPRO at its first recorded close on February 4, 2021 would be worth about $13,774 on October 23, 2026 with distributions reinvested.
What was the worst year for FPRO?
The worst calendar year was 2022, with a total return of −25.0%. The best was 2023 at +10.9%.
What is the biggest drawdown of FPRO?
The largest peak-to-trough decline was −32.8% between December 31, 2021 and October 27, 2023. It recovered to the old high on April 16, 2026, 2.5 years after the bottom.
How volatile is FPRO?
Over the past 3 years FPRO had an annualized volatility of 16.1% and a Sharpe ratio of 0.42 (excess return over 1–3 month T-bills per unit of risk).