ACLO vs. FDVV

Last updated Jun 14, 2026

ACLO (TCW AAA CLO ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - ACLO is a CLO fund actively managed by TCW, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. ACLO is actively managed, while FDVV is passively managed. Over the past year, ACLO returned 5.21% vs 23.92% for FDVV. At a 0.10 correlation, their price movements are largely independent. ACLO charges 0.20%/yr vs 0.29%/yr for FDVV.

Performance

ACLO vs. FDVV - Performance Comparison

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

Returns By Period

In the year-to-date period, ACLO achieves a 2.30% return, which is significantly lower than FDVV's 9.30% return.

ACLO

• 1D: 0.01%
• 1M: 0.37%
• YTD: 2.30%
• 6M: 2.57%
• 1Y: 5.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDVV

• 1D: 0.57%
• 1M: 2.54%
• YTD: 9.30%
• 6M: 9.44%
• 1Y: 23.92%
• 3Y*: 19.75%
• 5Y*: 13.53%
• 10Y*: —

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

ACLO vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ACLO TCW AAA CLO ETF	2.30%	5.32%	0.81%
FDVV Fidelity High Dividend ETF	9.30%	17.08%	-1.80%

Correlation

The correlation between ACLO and FDVV is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.10

The correlation between ACLO and FDVV shifts across timeframes, from -0.01 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ACLO vs. FDVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACLO

ACLO Risk / Return Rank: 99
ACLO Sharpe Ratio Rank: 99
ACLO Sortino Ratio Rank: 99
ACLO Omega Ratio Rank: 99
ACLO Calmar Ratio Rank: 99
ACLO Martin Ratio Rank: 99

FDVV

FDVV Risk / Return Rank: 73
FDVV Sharpe Ratio Rank: 81
FDVV Sortino Ratio Rank: 82
FDVV Omega Ratio Rank: 81
FDVV Calmar Ratio Rank: 56
FDVV Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACLO vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW AAA CLO ETF (ACLO) and Fidelity High Dividend ETF (FDVV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACLO	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	7.33	2.24	+5.08
Sortino ratio: Return per unit of downside risk	15.08	3.14	+11.95
Omega ratio: Gain probability vs. loss probability	3.44	1.41	+2.03
Calmar ratio: Return relative to maximum drawdown	19.78	2.44	+17.34
Martin ratio: Return relative to average drawdown	164.71	10.11	+154.60

ACLO vs. FDVV - Sharpe Ratio Comparison

The current ACLO Sharpe Ratio is 7.33, which is higher than the FDVV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of ACLO and FDVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACLO vs. FDVV - Drawdown Comparison

The maximum ACLO drawdown since its inception was -1.01%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for ACLO and FDVV.

Drawdown Indicators

	ACLO	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-1.01%	-40.25%	+39.24%
Max Drawdown (1Y) Largest decline over 1 year	-0.27%	-9.30%	+9.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.18%	—
Current Drawdown Current decline from peak	-0.03%	-0.29%	+0.26%
Average Drawdown Average peak-to-trough decline	-0.05%	-3.80%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	2.24%	-2.21%

Volatility

ACLO vs. FDVV - Volatility Comparison

The current volatility for TCW AAA CLO ETF (ACLO) is 0.15%, while Fidelity High Dividend ETF (FDVV) has a volatility of 3.16%. This indicates that ACLO experiences smaller price fluctuations and is considered to be less risky than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACLO	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	3.16%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	0.57%	8.16%	-7.59%
Volatility (1Y) Calculated over the trailing 1-year period	0.72%	10.12%	-9.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.08%	14.76%	-13.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.08%	16.98%	-15.90%

ACLO vs. FDVV - Expense Ratio Comparison

ACLO has a 0.20% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

ACLO vs. FDVV - Dividend Comparison

ACLO's dividend yield for the trailing twelve months is around 4.90%, more than FDVV's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%

Frequently Asked Questions

Can I hold both ACLO and FDVV in my portfolio?

ACLO and FDVV have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACLO or FDVV?

FDVV has higher volatility (3.16%) compared to ACLO (0.15%). In terms of maximum drawdown, ACLO dropped -1.01% vs FDVV's -40.25%.

Which ETF is better, ACLO or FDVV?

On 1-year performance, FDVV leads with 23.92% vs 5.21% for ACLO. On fees, ACLO is cheaper at 0.20% per year. On volatility, ACLO has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACLO or FDVV?

Over the 1-year period, FDVV has performed better with a 23.92% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACLO or FDVV?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.29% for FDVV.

Which ETF pays a higher dividend yield, ACLO or FDVV?

ACLO has the higher dividend yield at 4.90%, compared with 2.70% for FDVV.

What is the main difference between ACLO and FDVV?

ACLO is categorized as CLO, while FDVV is Large Cap Blend Equities. They also come from different issuers: TCW and Fidelity. Their fees differ too: 0.20% for ACLO and 0.29% for FDVV.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.33 vs 2.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.