FDLO vs. CIL

Last updated Aug 2, 2026

FDLO (Fidelity Low Volatility Factor ETF) and CIL (VictoryShares International Volatility Wtd ETF) are both exchange-traded funds - FDLO is a Low Volatility fund tracking the Fidelity U.S. Low Volatility Factor Index, while CIL is a Foreign Large Cap Equities fund tracking the Nasdaq Victory International 500 Volatility Weighted Index. Both are passively managed. Over the past 5 years, FDLO returned 9.60%/yr vs 7.36%/yr for CIL. Their 0.55 correlation means they have sometimes moved together and sometimes differently. FDLO charges 0.15%/yr vs 0.45%/yr for CIL.

Performance

FDLO vs. CIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Low Volatility Factor ETF (FDLO) and VictoryShares International Volatility Wtd ETF (CIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDLO achieves a 8.41% return, which is significantly higher than CIL's 5.44% return.

FDLO

• 1D: 0.52%
• 1M: 2.54%
• 6M: 6.36%
• YTD: 8.41%
• 1Y: 16.67%
• 3Y*: 13.79%
• 5Y*: 9.60%
• 10Y*: —
• ALL TIME*: 13.06%

CIL

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 5.44%
• 1Y: 16.21%
• 3Y*: 14.57%
• 5Y*: 7.36%
• 10Y*: 8.18%
• ALL TIME*: 7.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CIL VictoryShares International Volatility Wtd ETF	$0.00	$0.00	$0.00
FDLO Fidelity Low Volatility Factor ETF	$4.52M	$3.68M	$3.65M

FDLO vs. CIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDLO Fidelity Low Volatility Factor ETF	8.41%	11.77%	16.06%	16.38%	-10.38%	24.00%	12.19%	31.10%	-0.26%	20.44%
CIL VictoryShares International Volatility Wtd ETF	5.44%	32.99%	3.76%	16.29%	-16.00%	11.07%	7.21%	19.13%	-13.34%	27.67%

Correlation

The correlation between FDLO and CIL is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.55

The correlation between FDLO and CIL shifts across timeframes, from 0.44 (1 year) to 0.57 (3 years), reflecting how their relationship changes across market environments.

FDLO vs. CIL - Sectors Allocation Comparison

Sectors	FDLO	CIL
Technology	33.2%	6.4%
Financial Services	13.1%	24.8%
Healthcare	10.6%	7.7%
Communication Services	10.1%	5.8%
Consumer Cyclical	10.0%	8.2%
Industrials	8.7%	18.4%
Consumer Defensive	4.7%	8.8%
Energy	3.1%	4.6%
Utilities	2.4%	6.6%
Real Estate	2.3%	2.2%
Basic Materials	1.8%	6.6%

Return for Risk

FDLO vs. CIL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDLO

FDLO Risk / Return Rank: 72
FDLO Sharpe Ratio Rank: 75
FDLO Sortino Ratio Rank: 76
FDLO Omega Ratio Rank: 73
FDLO Calmar Ratio Rank: 62
FDLO Martin Ratio Rank: 72

CIL

CIL Risk / Return Rank: 93
CIL Sharpe Ratio Rank: 93
CIL Sortino Ratio Rank: 94
CIL Omega Ratio Rank: 96
CIL Calmar Ratio Rank: 89
CIL Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDLO vs. CIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Low Volatility Factor ETF (FDLO) and VictoryShares International Volatility Wtd ETF (CIL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FDLO	CIL	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.51	-0.81
Sortino ratio: Return per unit of downside risk	2.41	3.80	-1.39
Omega ratio: Gain probability vs. loss probability	1.30	1.67	-0.37
Calmar ratio: Return relative to maximum drawdown	2.17	3.69	-1.51
Martin ratio: Return relative to average drawdown	8.89	18.41	-9.52

FDLO vs. CIL - Sharpe Ratio Comparison

The current FDLO Sharpe Ratio is 1.70, which is lower than the CIL Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of FDLO and CIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDLO vs. CIL - Drawdown Comparison

The maximum FDLO drawdown since its inception was -34.35%, smaller than the maximum CIL drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for FDLO and CIL.

Drawdown Indicators

	FDLO	CIL	Difference
Max Drawdown Largest peak-to-trough decline	-34.35%	-36.27%	+1.92%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-4.60%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-11.29%	-2.39%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-29.89%	+10.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.27%	—
Current Drawdown Current decline from peak	0.00%	-0.58%	+0.58%
Average Drawdown Average peak-to-trough decline	-3.34%	-6.47%	+3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.03%	+0.71%

Volatility

FDLO vs. CIL - Volatility Comparison

Fidelity Low Volatility Factor ETF (FDLO) has a higher volatility of 3.07% compared to VictoryShares International Volatility Wtd ETF (CIL) at 0.00%. This indicates that FDLO's price experiences larger fluctuations and is considered to be riskier than CIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDLO	CIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	0.00%	+3.07%
Volatility (6M) Calculated over the trailing 6-month period	6.99%	2.31%	+4.68%
Volatility (1Y) Calculated over the trailing 1-year period	9.15%	6.80%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	16.39%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	16.74%	-1.31%

FDLO vs. CIL - Expense Ratio Comparison

FDLO has a 0.15% expense ratio, which is lower than CIL's 0.45% expense ratio.

Dividends

FDLO vs. CIL - Dividend Comparison

FDLO's dividend yield for the trailing twelve months is around 1.37%, more than CIL's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIL VictoryShares International Volatility Wtd ETF	1.05%	2.70%	3.46%	2.91%	2.41%	3.04%	1.73%	2.69%	2.85%	2.17%	2.34%	0.43%
FDLO Fidelity Low Volatility Factor ETF	1.37%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%	0.00%

Frequently Asked Questions

Can I hold both FDLO and CIL in my portfolio?

FDLO and CIL have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDLO or CIL?

FDLO has higher volatility (3.07%) compared to CIL (0.00%). In terms of maximum drawdown, FDLO dropped -34.35% vs CIL's -36.27%.

Which ETF is better, FDLO or CIL?

On 5-year performance, FDLO leads with 9.60% vs 7.36% for CIL. On fees, FDLO is cheaper at 0.15% per year. On volatility, CIL has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDLO or CIL?

Over the 5-year period, FDLO has performed better with a 9.60% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDLO or CIL?

FDLO is cheaper with a 0.15% expense ratio, compared with 0.45% for CIL.

Which ETF pays a higher dividend yield, FDLO or CIL?

FDLO has the higher dividend yield at 1.37%, compared with 1.05% for CIL.

What is the main difference between FDLO and CIL?

FDLO is categorized as Low Volatility, while CIL is Foreign Large Cap Equities. FDLO tracks Fidelity U.S. Low Volatility Factor Index, while CIL tracks Nasdaq Victory International 500 Volatility Weighted Index. They also come from different issuers: Fidelity and Crestview. Their fees differ too: 0.15% for FDLO and 0.45% for CIL.

Which has better risk-adjusted returns?

CIL currently has the higher Sharpe Ratio (2.51 vs 1.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.