TEMX vs. FCLO

Last updated Jul 17, 2026

TEMX (Touchstone Sands Capital Emerging Markets ex-China Growth ETF) and FCLO (Fidelity CLO ETF) are both exchange-traded funds - TEMX is a Emerging Markets Diversified fund actively managed by Touchstone, while FCLO is a CLO fund actively managed by Fidelity. Both are actively managed. At a correlation of -0.10, they often move in opposite directions. TEMX charges 0.79%/yr vs 0.45%/yr for FCLO.

Performance

TEMX vs. FCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Sands Capital Emerging Markets ex-China Growth ETF (TEMX) and Fidelity CLO ETF (FCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEMX

• 1D: -2.50%
• 1M: -5.60%
• 6M: 14.55%
• YTD: 20.06%
• 1Y: 29.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCLO

• 1D: -0.10%
• 1M: 0.38%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEMX vs. FCLO - Yearly Performance Comparison

	2026 (YTD)
TEMX Touchstone Sands Capital Emerging Markets ex-China Growth ETF	9.48%
FCLO Fidelity CLO ETF	2.24%

Correlation

The correlation between TEMX and FCLO is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	-0.10

Return for Risk

TEMX vs. FCLO — Risk / Return Rank

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

TEMX

TEMX Risk / Return Rank: 43
TEMX Sharpe Ratio Rank: 39
TEMX Sortino Ratio Rank: 37
TEMX Omega Ratio Rank: 42
TEMX Calmar Ratio Rank: 47
TEMX Martin Ratio Rank: 51

FCLO

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

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.

TEMX vs. FCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Sands Capital Emerging Markets ex-China Growth ETF (TEMX) and Fidelity CLO ETF (FCLO). 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.

	TEMX	FCLO	Difference
Sharpe ratio: Return per unit of total volatility	1.14	—	—
Sortino ratio: Return per unit of downside risk	1.61	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.97	—	—
Martin ratio: Return relative to average drawdown	6.92	—	—

Drawdowns

TEMX vs. FCLO - Drawdown Comparison

The maximum TEMX drawdown since its inception was -14.95%, which is greater than FCLO's maximum drawdown of -0.58%. Use the drawdown chart below to compare losses from any high point for TEMX and FCLO.

Drawdown Indicators

	TEMX	FCLO	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-0.58%	-14.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	—	—
Current Drawdown Current decline from peak	-11.14%	-0.11%	-11.03%
Average Drawdown Average peak-to-trough decline	-2.62%	-0.07%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	—	—

Volatility

Volatility by Period

	TEMX	FCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.70%	1.29%	+24.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.92%	1.29%	+23.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	1.29%	+23.63%

TEMX vs. FCLO - Expense Ratio Comparison

TEMX has a 0.79% expense ratio, which is higher than FCLO's 0.45% expense ratio.

Dividends

TEMX vs. FCLO - Dividend Comparison

TEMX's dividend yield for the trailing twelve months is around 0.90%, less than FCLO's 2.04% yield.

Position	TTM	2025
FCLO Fidelity CLO ETF	2.04%	0.00%
TEMX Touchstone Sands Capital Emerging Markets ex-China Growth ETF	0.90%	1.08%

Frequently Asked Questions

Can I hold both TEMX and FCLO in my portfolio?

TEMX and FCLO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEMX or FCLO?

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, TEMX or FCLO?

FCLO is cheaper with a 0.45% expense ratio, compared with 0.79% for TEMX.

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

FCLO has the higher dividend yield at 2.04%, compared with 0.90% for TEMX.

What is the main difference between TEMX and FCLO?

TEMX is categorized as Emerging Markets Diversified, while FCLO is CLO. They also come from different issuers: Touchstone and Fidelity. Their fees differ too: 0.79% for TEMX and 0.45% for FCLO.