AAAC vs. FCLO

Last updated Jun 3, 2026

AAAC (Columbia AAA CLO ETF) and FCLO (Fidelity CLO ETF) are both CLO funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. AAAC charges 0.20%/yr vs 0.45%/yr for FCLO.

Performance

AAAC vs. FCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia AAA CLO ETF (AAAC) and Fidelity CLO ETF (FCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAAC

• 1D: 0.00%
• 1M: 0.40%
• YTD: 2.06%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCLO

• 1D: 0.04%
• 1M: 0.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAAC vs. FCLO - Yearly Performance Comparison

	2026 (YTD)
AAAC Columbia AAA CLO ETF	1.26%
FCLO Fidelity CLO ETF	1.68%

Correlation

The correlation between AAAC and FCLO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 13, 2026	0.24

Return for Risk

AAAC vs. FCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia AAA CLO ETF (AAAC) and Fidelity CLO ETF (FCLO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAAC	FCLO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	5.59	3.94	+1.65

Drawdowns

AAAC vs. FCLO - Drawdown Comparison

The maximum AAAC drawdown since its inception was -0.55%, smaller than the maximum FCLO drawdown of -0.58%. Use the drawdown chart below to compare losses from any high point for AAAC and FCLO.

Drawdown Indicators

	AAAC	FCLO	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-0.58%	+0.03%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.09%	+0.05%

Volatility

Volatility by Period

	AAAC	FCLO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.89%	1.47%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.89%	1.47%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.89%	1.47%	-0.58%

AAAC vs. FCLO - Expense Ratio Comparison

AAAC has a 0.20% expense ratio, which is lower than FCLO's 0.45% expense ratio.

Dividends

AAAC vs. FCLO - Dividend Comparison

AAAC's dividend yield for the trailing twelve months is around 2.27%, more than FCLO's 1.56% yield.

Position	TTM	2025
AAAC Columbia AAA CLO ETF	2.27%	0.03%
FCLO Fidelity CLO ETF	1.56%	0.00%

Frequently Asked Questions

Can I hold both AAAC and FCLO in my portfolio?

AAAC and FCLO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAAC or FCLO?

On fees, AAAC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAAC or FCLO?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.45% for FCLO.

Which ETF pays a higher dividend yield, AAAC or FCLO?

AAAC has the higher dividend yield at 2.27%, compared with 1.56% for FCLO.

What is the main difference between AAAC and FCLO?

They also come from different issuers: Columbia Threadneedle and Fidelity. Their fees differ too: 0.20% for AAAC and 0.45% for FCLO.