FAAA vs. CLOI

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity AAA CLO ETF (FAAA) and VanEck CLO ETF (CLOI).

FAAA and CLOI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FAAA is an actively managed fund by Fidelity. It was launched on Feb 10, 2026. CLOI is an actively managed fund by VanEck. It was launched on Jun 21, 2022.

Performance

FAAA vs. CLOI - Performance Comparison

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

FAAA vs. CLOI - Yearly Performance Comparison

	2026 (YTD)
FAAA Fidelity AAA CLO ETF	0.31%
CLOI VanEck CLO ETF	0.00%

Returns By Period

FAAA

• 1D: 0.04%
• 1M: 0.06%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOI

• 1D: 0.08%
• 1M: 0.00%
• YTD: 0.61%
• 6M: 1.94%
• 1Y: 5.39%
• 3Y*: 7.08%
• 5Y*: —
• 10Y*: —

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

FAAA vs. CLOI - Expense Ratio Comparison

FAAA has a 0.20% expense ratio, which is lower than CLOI's 0.40% expense ratio.

CLOI

VanEck CLO ETF

FAAA

Fidelity AAA CLO ETF

Return for Risk

FAAA vs. CLOI — Risk / Return Rank

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

CLOI

CLOI Risk / Return Rank: 80
CLOI Sharpe Ratio Rank: 75
CLOI Sortino Ratio Rank: 67
CLOI Omega Ratio Rank: 96
CLOI Calmar Ratio Rank: 68
CLOI Martin Ratio Rank: 93

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.

FAAA vs. CLOI - Risk-Adjusted Trends Comparison

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

	FAAA	CLOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	2.68	-0.75

Correlation

The correlation between FAAA and CLOI is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FAAA vs. CLOI - Dividend Comparison

FAAA's dividend yield for the trailing twelve months is around 0.62%, less than CLOI's 5.53% yield.

	TTM	2025	2024	2023	2022
FAAA Fidelity AAA CLO ETF	0.62%	0.00%	0.00%	0.00%	0.00%
CLOI VanEck CLO ETF	5.53%	5.61%	6.71%	5.61%	2.23%

Drawdowns

FAAA vs. CLOI - Drawdown Comparison

The maximum FAAA drawdown since its inception was -0.55%, smaller than the maximum CLOI drawdown of -3.25%. Use the drawdown chart below to compare losses from any high point for FAAA and CLOI.

Drawdown Indicators

	FAAA	CLOI	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-3.25%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.25%	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.19%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.42%	—

Volatility

Volatility by Period

	FAAA	CLOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.29%	4.16%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	2.61%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	2.61%	-1.32%