CLOX vs. FAAA

Last updated Aug 2, 2026

CLOX (Eldridge AAA CLO ETF) and FAAA (Fidelity AAA CLO ETF) are both CLO funds. Both are actively managed. Their 0.12 correlation means their historical movements had little consistent relationship. Both charge a 0.20% expense ratio.

Performance

CLOX vs. FAAA - Performance Comparison

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

Returns By Period

CLOX

• 1D: 0.02%
• 1M: 0.11%
• 6M: 2.30%
• YTD: 2.77%
• 1Y: 5.23%
• 3Y*: 6.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.39%

FAAA

• 1D: 0.04%
• 1M: 0.41%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CLOX Eldridge AAA CLO ETF	$4.44M	$3.63M	$4.03M
FAAA Fidelity AAA CLO ETF	$1.93M	$1.67M	$1.54M

CLOX vs. FAAA - Yearly Performance Comparison

	2026 (YTD)
CLOX Eldridge AAA CLO ETF	2.16%
FAAA Fidelity AAA CLO ETF	2.33%

Correlation

The correlation between CLOX and FAAA is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	0.12

Return for Risk

CLOX vs. FAAA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CLOX

CLOX Risk / Return Rank: 98
CLOX Sharpe Ratio Rank: 98
CLOX Sortino Ratio Rank: 98
CLOX Omega Ratio Rank: 98
CLOX Calmar Ratio Rank: 97
CLOX Martin Ratio Rank: 98

FAAA

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CLOX vs. FAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eldridge AAA CLO ETF (CLOX) 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.

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.

	CLOX	FAAA	Difference
Sharpe ratio: Return per unit of total volatility	4.14	—	—
Sortino ratio: Return per unit of downside risk	6.83	—	—
Omega ratio: Gain probability vs. loss probability	2.04	—	—
Calmar ratio: Return relative to maximum drawdown	7.93	—	—
Martin ratio: Return relative to average drawdown	41.18	—	—

Drawdowns

CLOX vs. FAAA - Drawdown Comparison

The maximum CLOX drawdown since its inception was -4.13%, which is greater than FAAA's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for CLOX and FAAA.

Drawdown Indicators

	CLOX	FAAA	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-0.55%	-3.58%
Max Drawdown (1Y) Largest decline over 1 year	-0.66%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.13%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.05%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	—	—

Volatility

Volatility by Period

	CLOX	FAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.26%	0.80%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	0.80%	+2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	0.80%	+2.45%

CLOX vs. FAAA - Expense Ratio Comparison

Both CLOX and FAAA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CLOX vs. FAAA - Dividend Comparison

CLOX's dividend yield for the trailing twelve months is around 4.94%, more than FAAA's 2.03% yield.

Position	TTM	2025	2024	2023
CLOX Eldridge AAA CLO ETF	4.94%	5.18%	6.25%	2.90%
FAAA Fidelity AAA CLO ETF	2.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLOX and FAAA in my portfolio?

CLOX and FAAA have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOX or FAAA?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOX or FAAA?

CLOX and FAAA have the same expense ratio: 0.20% per year.

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

CLOX has the higher dividend yield at 4.94%, compared with 2.03% for FAAA.

What is the main difference between CLOX and FAAA?

They also come from different issuers: Eldridge and Fidelity.