Fidelity MSCI Real Estate Index ETF (FREL US) – Portfolio Construction MethodologyThe underlying MSCI USA IMI Real Estate 25/25 Index offers full-market-cap coverage of US real estate equities by selecting all GICS Real Estate constituents across large, mid, and small caps from the MSCI USA IMI. Eligibility follows MSCI Global Investable Market Indexes rules, including free-float adjustment, foreign ownership limits, and liquidity/investability thresholds; size segmentation targets ~99% of US free-float mar ...