FCLO vs. CLOC

Last updated Jun 4, 2026

FCLO (Fidelity CLO ETF) and CLOC (AAM Crescent CLO ETF) are both CLO funds. Both are actively managed. At a 0.21 correlation, their price movements are largely independent. FCLO charges 0.45%/yr vs 0.49%/yr for CLOC.

Performance

FCLO vs. CLOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity CLO ETF (FCLO) and AAM Crescent CLO ETF (CLOC). 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*: —

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCLO vs. CLOC - Yearly Performance Comparison

	2026 (YTD)
FCLO Fidelity CLO ETF	1.70%
CLOC AAM Crescent CLO ETF	1.59%

Correlation

The correlation between FCLO and CLOC is 0.21, 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	0.21

Return for Risk

FCLO vs. CLOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity CLO ETF (FCLO) and AAM Crescent CLO ETF (CLOC). 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	CLOC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.96	6.09	-2.13

Drawdowns

FCLO vs. CLOC - Drawdown Comparison

The maximum FCLO drawdown since its inception was -0.58%, which is greater than CLOC's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for FCLO and CLOC.

Drawdown Indicators

	FCLO	CLOC	Difference
Max Drawdown Largest peak-to-trough decline	-0.58%	-0.54%	-0.04%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.07%	-0.02%

Volatility

Volatility by Period

	FCLO	CLOC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.46%	0.91%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.46%	0.91%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.46%	0.91%	+0.55%

FCLO vs. CLOC - Expense Ratio Comparison

FCLO has a 0.45% expense ratio, which is lower than CLOC's 0.49% expense ratio.

Dividends

FCLO vs. CLOC - Dividend Comparison

FCLO's dividend yield for the trailing twelve months is around 1.56%, less than CLOC's 3.67% yield.

Position	TTM	2025
CLOC AAM Crescent CLO ETF	3.67%	1.15%
FCLO Fidelity CLO ETF	1.56%	0.00%

Frequently Asked Questions

Can I hold both FCLO and CLOC in my portfolio?

FCLO and CLOC have a correlation of 0.21, 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 CLOC?

On fees, FCLO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCLO or CLOC?

FCLO is cheaper with a 0.45% expense ratio, compared with 0.49% for CLOC.

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

CLOC has the higher dividend yield at 3.67%, compared with 1.56% for FCLO.

What is the main difference between FCLO and CLOC?

They also come from different issuers: Fidelity and AAM. Their fees differ too: 0.45% for FCLO and 0.49% for CLOC.