FCLO vs. AGZD

Last updated Jun 4, 2026

FCLO (Fidelity CLO ETF) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both exchange-traded funds - FCLO is a CLO fund actively managed by Fidelity, while AGZD is a Nontraditional Bonds fund tracking the Bloomberg Rate Hedged U.S. Aggregate Bond Index, Zero Duration. FCLO is actively managed, while AGZD is passively managed. At a correlation of -0.23, they often move in opposite directions. FCLO charges 0.45%/yr vs 0.23%/yr for AGZD.

Performance

FCLO vs. AGZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity CLO ETF (FCLO) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FCLO

• 1D: 0.02%
• 1M: 0.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGZD

• 1D: -0.18%
• 1M: 0.67%
• YTD: 2.22%
• 6M: 2.64%
• 1Y: 5.26%
• 3Y*: 6.02%
• 5Y*: 4.32%
• 10Y*: 3.15%

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

FCLO vs. AGZD - Yearly Performance Comparison

	2026 (YTD)
FCLO Fidelity CLO ETF	1.70%
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	1.81%

Correlation

The correlation between FCLO and AGZD is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 13, 2026	-0.23

Return for Risk

FCLO vs. AGZD — Risk / Return Rank

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

AGZD

AGZD Risk / Return Rank: 69
AGZD Sharpe Ratio Rank: 53
AGZD Sortino Ratio Rank: 56
AGZD Omega Ratio Rank: 58
AGZD Calmar Ratio Rank: 92
AGZD Martin Ratio Rank: 87

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.

FCLO vs. AGZD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity CLO ETF (FCLO) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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

	FCLO	AGZD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.21	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.96	0.64	+3.32

Drawdowns

FCLO vs. AGZD - Drawdown Comparison

The maximum FCLO drawdown since its inception was -0.58%, smaller than the maximum AGZD drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for FCLO and AGZD.

Drawdown Indicators

	FCLO	AGZD	Difference
Max Drawdown Largest peak-to-trough decline	-0.58%	-8.46%	+7.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.87%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.46%	—
Current Drawdown Current decline from peak	0.00%	-0.39%	+0.39%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.77%	+0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.28%	—

Volatility

Volatility by Period

	FCLO	AGZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.46%	2.89%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.46%	3.59%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.46%	3.72%	-2.26%

FCLO vs. AGZD - Expense Ratio Comparison

FCLO has a 0.45% expense ratio, which is higher than AGZD's 0.23% expense ratio.

Dividends

FCLO vs. AGZD - Dividend Comparison

FCLO's dividend yield for the trailing twelve months is around 1.56%, less than AGZD's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund	3.99%	4.12%	3.96%	6.07%	8.61%	1.66%	2.28%	2.83%	2.62%	2.31%	1.81%	1.66%
FCLO Fidelity CLO ETF	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCLO and AGZD in my portfolio?

FCLO and AGZD have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCLO or AGZD?

On fees, AGZD is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCLO or AGZD?

AGZD is cheaper with a 0.23% expense ratio, compared with 0.45% for FCLO.

Which ETF pays a higher dividend yield, FCLO or AGZD?

AGZD has the higher dividend yield at 3.99%, compared with 1.56% for FCLO.

What is the main difference between FCLO and AGZD?

FCLO is categorized as CLO, while AGZD is Nontraditional Bonds. They also come from different issuers: Fidelity and WisdomTree. Their fees differ too: 0.45% for FCLO and 0.23% for AGZD.