Skip to content
etf.net

Launched

FIDELITY AAA CLO ETF

FAAANasdaqA

$50.33+0.03 (+0.06%)

At close: Oct 13, 2026, 4:00 PM

A73/ 100

Rank 5 of 34 in Collateralized Loan Obligations (CLO)

A73/100Rank 5 of 34inCollateralized Loan Obligations (CLO)
Intraday session: up, 57 prints from 50.30 to 50.33. Range 50.24 to 50.34. Use the arrow keys to read each point.50.2450.2650.2850.3210 AM12 PM2 PM4 PM
Expense ratio
0.20%
Fund size
$134M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
199
Avg volume · 30D
0M sh
NAV per share
$50.24
52W range
low $49.67high $50.49
Launched

The ETF.net FAAA Grade

Based on 5 of 6 pillars

A

Score 73 out of 100

Category
Collateralized Loan Obligations (CLO)⁠
Rank
5 of 34
Six-pillar profile for FAAA. Scores out of 100: Cost 83, Risk 72, Mission not scored, Tradability 49, Holdings 90, Durability 55. Strongest: Holdings (90). Weakest: Tradability (49). Based on 5 of 6 pillars.

Score 73 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A83 out of 100
    Rank 1 of 34

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A72 out of 100
    Rank 8 of 33

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 16 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A90 out of 100
    Rank 2 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 19 of 34

Our read on FAAA

ETF.net Research

AFidelity's entry into the AAA CLO trade: at least 80% in the top-rated slice of the leveraged loan market, floating rate, priced at 0.20% to sit level with the category's heavyweights.

Stated mandate

The fund seeks to generate income by investing at least 80% of its assets in floating-rate collateralized loan obligations rated AAA.

Why people hold it

  1. 01Charges 0.20% a year, below the 0.25% typical of AAA CLO funds and level with the group's largest names, CLOA and JAAA.
  2. 02Mandate keeps at least 80% in AAA-rated CLOs, the most senior tranche and the last in line to absorb loan losses, with coupons that float against short-term rates.fidelity.com
  3. 03Portfolio stays tightly inside that mandate, which puts it in the upper tier of a crowded AAA CLO field rather than the middle of the pack.

Worth knowing

  1. 01Launched in 2026, so the risk record rests on a short history rather than a full credit cycle.
  2. 02Trades lightly next to the category's established funds, so spreads can be wider than headline size suggests. Limit orders are the usual fix.
  3. 03Income arrives on an irregular schedule, not a fixed monthly payout, and floating coupons move with short-term rates in both directions.

FAAA Holdings

As of Oct 13, 2026
Asset class
Bonds
Holdings
199
Top-10 weight
13%
Largest holding
Rram 36RA A1R TSFR3M+129 1/401.4%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Rram 36RA A1R TSFR3M+129 1/401.39%2,000,000$2M4
002—Bsp 25-6BR A1R TSFR3M+118 4/381.38%2,000,000$2M5
003—Babsn 25-1A Ar TSFR3M+123 01/31.38%2,000,000$2M1
004—Ares 25-ALF9A A1 TSFR3M+118 031.38%2,000,000$2M3
005—Cifc 26-2A A1R2 TSFR3M+116 04/1.38%2,000,000$2M2
006—Dsf 119A A1R TSFR3M+122 7/391.35%1,950,000$2M1
007—Cash Cf1.31%1,894,821$2M61
008—Oc 24-13A AR2 TSFR3M+134 11/371.27%1,838,000$2M4
009—Plmrs 26-3A Ar TSFR3M+122 01/31.21%1,750,000$2M3
010—Gm 26-12AR AR2 TSFR3M+120 7/361.21%1,750,000$2M5
011—An 26-18AR A1R TSFR3M+125 7/391.21%1,750,000$2M3
012—Cg 26-11AR A1R TSFR3M+126 7/391.20%1,725,000$2M2
013—Net Other Assets1.17%0$2M141
014—Agl 25-17A Ar TSFR3M+95 01/351.07%1,550,000$2M1
015—Canyc 25-1A Ar TSFR3M+105 04/31.07%1,546,430$2M8

Showing 1–15 of 199 holdings

FAAA Performance

Launched Feb 10, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FAAA$10,120
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. FAAA $10,120. SPY $10,332. Use the arrow keys to read each point.$9,608$10,004$10,400Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FAAA. Periods over one year show the average yearly return.
PeriodFAAA
Year to dateFund launched this year—
1 month+0.2%
3 months+1.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FAAA
YearReturn barFAAA
2026 YTD+3.4%

Since listing, Feb 10, 2026

FAAA in the news

Filtered to FAAA · Collateralized Loan Obligations (CLO)

FAAA Dividends

Last payment
$0.17 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 8 payments in 2026 YTD. Feb 26, 2026 $0.12; Mar 30, 2026 $0.19; Apr 29, 2026 $0.18; May 28, 2026 $0.17; Jun 29, 2026 $0.18; Jul 30, 2026 $0.18; Aug 28, 2026 $0.19; Sep 29, 2026 $0.17. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Oct 1, 2026$0.17
Aug 28, 2026Sep 1, 2026$0.19
Jul 30, 2026Aug 3, 2026$0.18
Jun 29, 2026Jul 1, 2026$0.18
May 28, 2026Jun 1, 2026$0.17
Apr 29, 2026May 1, 2026$0.18
Mar 30, 2026Apr 1, 2026$0.19
Feb 26, 2026Mar 2, 2026$0.12

FAAA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.03
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FAAA Cost

Expense ratio0.20%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

6 of the 34 Collateralized Loan Obligations (CLO) funds charge less.

FAAA costs $20.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.

Other funds in Collateralized Loan Obligations (CLO)

See others