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FCLO

GradeCNASDAQ Global Market

Fidelity CLO ETF

Specialty Bonds · Fidelity · Inception 2026-02-10 · SEC filings

$50.60+0.03 (+0.06%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Feb 10, 2026.History starts Feb 10, 2026.
Intraday session: up, 18 prints from 50.57 to 50.60. Range 50.56 to 50.63. Use the arrow keys to read each point.$50.56$50.58$50.6210 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$31M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$50.42
52W range
low $49.72high $50.59

The ETF.net FCLO Grade

C

44/ 100

Rank 21 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for FCLO. Scores out of 100: Cost 27, Risk 73, Mission not scored, Tradability 29, Holdings 77, Durability 52. Strongest: Holdings (77). Weakest: Cost (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 27
    Category rank25/34 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 73
    Category rank5/33 · top 15%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 29
    Category rank24/34 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 77
    Category rank9/34 · top 26%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 52
    Category rank20/34 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FCLO

ETF.net Research

CMost CLO ETFs camp at the top of the stack and stop there. Fidelity's FCLO is written wider: an income mandate with at least 80% of assets in collateralized loan obligations, no AAA-only label attached.

Stated mandate

The fund seeks to generate income and normally invests at least 80% of its assets in collateralized loan obligations (CLOs).

Why people hold it

  1. 01The mandate is CLOs broadly: at least 80% of assets, income as the stated goal, and no AAA-only rating screen written into the objective.
  2. 02Fidelity already runs an AAA-only CLO fund (FAAA), so this is the wider-mandate sibling from a shop already in the asset class, not a first swing at it.
  3. 03Plain 1940 Act ETF wrapper with the 80% policy spelled out in the prospectus, so the strategy is a written commitment rather than marketing language.

Worth knowing

  1. 01At 0.45%, it runs more than double the 0.20% area charged by the big AAA CLO funds (JAAA, CLOA, and Fidelity's own FAAA). The broader mandate has to earn that gap.
  2. 02A 2026 launch in a category led by long-established incumbents. Smaller and less traded funds can carry wider bid-ask spreads, so the quote is worth a look.
  3. 03Income is the stated objective, but the payout rhythm is still irregular; there is no settled distribution schedule to plan around yet.

FCLO Holdings

As of Sep 21, 2026, 3:28 PM
Asset class
Bonds
Holdings
—
Top-10 weight
18%
Largest holding
STACR 26-DNA1 A1 4.54962% 2/562.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—STACR 26-DNA1 A1 4.54962% 2/562.12%775,000$775K3
002—GALXY 24-33A D1 TSFR3M+355 04/2.06%750,000$753K2
003—ELM37 25-13A E1 TSFR3M+475 01/2.06%750,000$752K1
004—NEUB 25-46A CR TSFR3M+175 01/31.80%655,000$658K1
005—FCBSL 1A A1AR TSFR3M+110 10/331.77%645,157$646K1
006—SAND 2024-1A D2R 8.615% 04/371.76%650,000$644K2
007—ANCHC 26-37A D TSFR3M+310 4/391.73%625,000$634K1
008—GALXY 26-32A D1R TSFR3M+295 011.72%625,000$629K1
009—ELM25 2024-1A DR 3M+280 4/371.72%625,000$628K2
010—TREST 10A D1 TSFR3M+265 4/391.71%625,000$625K1
011—OCP 26-31A D2R TSFR3M+360 04/31.71%625,000$625K1
012—MIDO 26-22A E TSFR3M+490 04/391.70%625,000$623K4
013—CARVL 25-2A DR2 TSFR3M+250 07/1.64%600,000$601K1
014FAAAFIDELITY AAA CLO ETF1.51%10,960$552K1
015—OBRAC 26-4A E TSFR3M+675 07/391.43%500,000$521K1

Showing 1–15 of 96 holdings

FCLO Performance

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

FCLO$10,217
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. FCLO $10,217. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 FCLO. Periods over one year show the average yearly return.
PeriodFCLO
Year to dateFund launched this year—
1 month+0.8%
3 months+2.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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 FCLO
YearReturn barFCLO
2026 YTD+4.4%

Since listing, Feb 10, 2026

FCLO in the news

ETF.net Research hasn’t filed on FCLO yet — coverage lands here as it’s written.

FCLO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.31 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. 7 payments in 2026 YTD. Feb 26, 2026 $0.07; Mar 30, 2026 $0.20; Apr 29, 2026 $0.26; May 28, 2026 $0.25; Jun 29, 2026 $0.24; Jul 30, 2026 $0.26; Aug 28, 2026 $0.31. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Aug 28, 2026Sep 1, 2026$0.31
Jul 30, 2026Aug 3, 2026$0.26
Jun 29, 2026Jul 1, 2026$0.24
May 28, 2026Jun 1, 2026$0.25
Apr 29, 2026May 1, 2026$0.26
Mar 30, 2026Apr 1, 2026$0.20
Feb 26, 2026Mar 2, 2026$0.07

FCLO 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.
0.04
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.

FCLO Cost

Expense ratio0.45%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

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

FCLO costs $45.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.