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FAAA vs. FDVV
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FAAA vs. FDVV

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity AAA CLO ETF (FAAA) and Fidelity High Dividend ETF (FDVV).

FAAA and FDVV 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. FDVV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Core Dividend Index. It was launched on Sep 12, 2016.

Performance

FAAA vs. FDVV - Performance Comparison

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

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FAAA vs. FDVV - Yearly Performance Comparison

2026 (YTD)
FAAA
Fidelity AAA CLO ETF		0.31%
FDVV
Fidelity High Dividend ETF		-5.67%

Returns By Period

FAAA

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

FDVV

1D
2.35%
1M
-5.66%
YTD
-1.78%
6M
0.65%
1Y
14.82%
3Y*
16.89%
5Y*
12.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity AAA CLO ETF

Fidelity High Dividend ETF

Often compared with FAAA:
FAAA vs. JAAAFAAA vs. ACLOFAAA vs. CLOAFAAA vs. PCLOFAAA vs. CLOXFAAA vs. CLOBFAAA vs. FBCG
Often compared with FDVV:
FDVV vs. SCHDFDVV vs. VYMFDVV vs. VOOFDVV vs. SPYDFDVV vs. FDRRFDVV vs. FGRIXFDVV vs. FDL

FAAA vs. FDVV - Expense Ratio Comparison

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

FDVV
Fidelity High Dividend ETF
FAAA
Fidelity AAA CLO ETF

Return for Risk

FAAA vs. FDVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FAAA
FDVV
FDVV Risk / Return Rank: 6060
Overall Rank
FDVV Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
FDVV Sortino Ratio Rank: 5858
Sortino Ratio Rank
FDVV Omega Ratio Rank: 6565
Omega Ratio Rank
FDVV Calmar Ratio Rank: 5757
Calmar Ratio Rank
FDVV Martin Ratio Rank: 6363
Martin Ratio Rank
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. FDVV - Risk-Adjusted Trends Comparison

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

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

FAAA vs. FDVV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

FAAAFDVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.97

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.86

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.93

0.74

+1.19

Correlation

The correlation between FAAA and FDVV is 0.26, 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. FDVV - Dividend Comparison

FAAA's dividend yield for the trailing twelve months is around 0.62%, less than FDVV's 3.00% yield.

TTM2025202420232022202120202019201820172016
FAAA
Fidelity AAA CLO ETF		0.62%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FDVV
Fidelity High Dividend ETF		3.00%2.89%2.94%3.77%3.44%2.70%3.19%3.93%4.05%3.66%1.04%

Drawdowns

FAAA vs. FDVV - Drawdown Comparison

The maximum FAAA drawdown since its inception was -0.55%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FAAA and FDVV.

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Drawdown Indicators

FAAAFDVVDifference

Max Drawdown

Largest peak-to-trough decline

-0.55%

-40.25%

+39.70%

Max Drawdown (1Y)

Largest decline over 1 year

—

-12.34%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-20.18%

—

Current Drawdown

Current decline from peak

0.00%

-7.04%

+7.04%

Average Drawdown

Average peak-to-trough decline

-0.17%

-3.85%

+3.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.81%

—

Volatility

FAAA vs. FDVV - Volatility Comparison

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Volatility by Period

FAAAFDVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.48%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

7.68%

—

Volatility (1Y)

Calculated over the trailing 1-year period

1.29%

15.34%

-14.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.29%

14.74%

-13.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.29%

17.09%

-15.80%