CLOC vs. FAAA

Last updated Jun 4, 2026

CLOC (AAM Crescent CLO ETF) and FAAA (Fidelity AAA CLO ETF) are both CLO funds. Both are actively managed. At a 0.29 correlation, their price movements are largely independent. CLOC charges 0.49%/yr vs 0.20%/yr for FAAA.

Performance

CLOC vs. FAAA - Performance Comparison

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

Returns By Period

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FAAA

• 1D: 0.02%
• 1M: 0.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOC vs. FAAA - Yearly Performance Comparison

	2026 (YTD)
CLOC AAM Crescent CLO ETF	1.59%
FAAA Fidelity AAA CLO ETF	1.50%

Correlation

The correlation between CLOC and FAAA is 0.29, 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	0.29

Return for Risk

CLOC vs. FAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Crescent CLO ETF (CLOC) and Fidelity AAA CLO ETF (FAAA). 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

	CLOC	FAAA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	6.09	5.41	+0.68

Drawdowns

CLOC vs. FAAA - Drawdown Comparison

The maximum CLOC drawdown since its inception was -0.54%, roughly equal to the maximum FAAA drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for CLOC and FAAA.

Drawdown Indicators

	CLOC	FAAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-0.55%	+0.01%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.07%	0.00%

Volatility

Volatility by Period

	CLOC	FAAA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.91%	0.94%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.91%	0.94%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.91%	0.94%	-0.03%

CLOC vs. FAAA - Expense Ratio Comparison

CLOC has a 0.49% expense ratio, which is higher than FAAA's 0.20% expense ratio.

Dividends

CLOC vs. FAAA - Dividend Comparison

CLOC's dividend yield for the trailing twelve months is around 3.67%, more than FAAA's 1.32% yield.

Position	TTM	2025
CLOC AAM Crescent CLO ETF	3.67%	1.15%
FAAA Fidelity AAA CLO ETF	1.32%	0.00%

Frequently Asked Questions

Can I hold both CLOC and FAAA in my portfolio?

CLOC and FAAA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOC or FAAA?

On fees, FAAA 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, CLOC or FAAA?

FAAA is cheaper with a 0.20% expense ratio, compared with 0.49% for CLOC.

Which ETF pays a higher dividend yield, CLOC or FAAA?

CLOC has the higher dividend yield at 3.67%, compared with 1.32% for FAAA.

What is the main difference between CLOC and FAAA?

They also come from different issuers: AAM and Fidelity. Their fees differ too: 0.49% for CLOC and 0.20% for FAAA.