Product : Microsoft, HyperV/2016, DataCenter
Feature : SW Storage Replication , Storage, Network and Storage
Content Owner:  Roman Macek
Summary
Yes (Hyper-V Replica - Storage Replica - NEW)
Details
Server 2012 introduced a new software-based replication called Hyper-V Replica for Hyper-V and free Hyper-V Server environments - an asynchronous replication of virtual machines over a network link from one Hyper-V host at a primary site to another Hyper-V host at a replica site without the need of a hardware based replication mechanism.
In the event of failure at the primary site, administrators can manually fail over production virtual machines to the Hyper-V server at the recovery site.
During failover, virtual machines are brought back to a consistent point in time, and they can be accessed by the rest of the network. Minimum interval of replication is 5 minutes (so there is the usual data loss associated with asynchronous replication) .

New in WS 2012 R2:
- You can also configure extended replication where the Replica server forwards information about changes that occur on the primary virtual machines to a third server for additional protection.
- The frequency of replication, which previously was a fixed value, is now configurable. You can also access recovery points for 24 hours. Previous versions had access to recovery points for only 15 hours.

Pros:
- Affordable DR solution (included in Server 2012, no extra licenses required)
- Does not require expensive SAN based replication
- designed to work with lower bandwidth / high latency connections - ideal for small and medium Enterprises
- Test Failover without impact on production vims

Cons:
- Manual failover and recovery actions
- Aimed at smaller scale deployments, typically not a suitable solution for replication of massive environments, added network traffic
- no integration with SAN array replication (like vSphere SRM), no synchronous replication

Windows Server 2016 brings Storage Replica as storage replication solution. This solution enables to replicate at the block-level a volume to another. This volume can be located in a cluster or a standalone server. You can also replicate two volumes located in the same server. This feature requires Windows Server 2016 Datacenter. For further information you can read this topic: https://technet.microsoft.com/en-us/windows-server-docs/storage/storage-replica/storage-replica-overview