FAAA vs. FETH

Last updated Jun 4, 2026

FAAA (Fidelity AAA CLO ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FAAA is a CLO fund actively managed by Fidelity, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. FAAA is actively managed, while FETH is passively managed. At a 0.12 correlation, their price movements are largely independent. FAAA charges 0.20%/yr vs 0.00%/yr for FETH.

Performance

FAAA vs. FETH - Performance Comparison

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

Returns By Period

FAAA

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

FETH

• 1D: -5.78%
• 1M: -23.67%
• YTD: -39.45%
• 6M: -42.77%
• 1Y: -31.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FAAA vs. FETH - Yearly Performance Comparison

	2026 (YTD)
FAAA Fidelity AAA CLO ETF	1.50%
FETH Fidelity Ethereum Fund	-6.08%

Correlation

The correlation between FAAA and FETH is 0.12, 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	0.12

Return for Risk

FAAA vs. FETH — Risk / Return Rank

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

FETH

FETH Risk / Return Rank: 5
FETH Sharpe Ratio Rank: 5
FETH Sortino Ratio Rank: 5
FETH Omega Ratio Rank: 5
FETH Calmar Ratio Rank: 4
FETH Martin Ratio Rank: 5

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. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity AAA CLO ETF (FAAA) and Fidelity Ethereum Fund (FETH). 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	FETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.41	-0.41	+5.83

Drawdowns

FAAA vs. FETH - Drawdown Comparison

The maximum FAAA drawdown since its inception was -0.55%, smaller than the maximum FETH drawdown of -64.00%. Use the drawdown chart below to compare losses from any high point for FAAA and FETH.

Drawdown Indicators

	FAAA	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-64.00%	+63.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-62.95%	—
Current Drawdown Current decline from peak	0.00%	-62.95%	+62.95%
Average Drawdown Average peak-to-trough decline	-0.07%	-32.73%	+32.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	37.82%	—

Volatility

Volatility by Period

	FAAA	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.99%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.94%	68.50%	-67.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.94%	72.27%	-71.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.94%	72.27%	-71.33%

FAAA vs. FETH - Expense Ratio Comparison

FAAA has a 0.20% expense ratio, which is higher than FETH's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FAAA vs. FETH - Dividend Comparison

FAAA's dividend yield for the trailing twelve months is around 1.32%, while FETH has not paid dividends to shareholders.

Position	TTM
FAAA Fidelity AAA CLO ETF	1.32%
FETH Fidelity Ethereum Fund	0.00%

Frequently Asked Questions

Can I hold both FAAA and FETH in my portfolio?

FAAA and FETH 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, FAAA or FETH?

On fees, FETH is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAAA or FETH?

FETH is cheaper with a 0.00% expense ratio, compared with 0.20% for FAAA.

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

FAAA has the higher dividend yield at 1.32%, compared with 0.00% for FETH.

What is the main difference between FAAA and FETH?

FAAA is categorized as CLO, while FETH is Cryptocurrency. Their fees differ too: 0.20% for FAAA and 0.00% for FETH.