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Launched · SEC filings

Fidelity CLO ETF

FCLONasdaqFidelityC

$50.37+0.01 (+0.02%)

At close: Nov 2, 2026, 4:00 PM ET

C42/ 100

Rank 22 of 34 in Collateralized Loan Obligations (CLO)

C42/100Rank 22 of 34inCollateralized Loan Obligations (CLO)
Intraday session: up, 79 prints from 50.36 to 50.37. Range 50.34 to 50.41. Use the arrow keys to read each point.50.3450.3850.4010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$43M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
156
Avg volume · 30D
26.5K sh
52W range
low $49.72high $50.65
Launched
Filings
SEC EDGAR

The ETF.net FCLO Grade

Based on 5 of 6 pillars

C

Score 42 out of 100

Category
Collateralized Loan Obligations (CLO)⁠
Rank
22 of 34
Six-pillar profile for FCLO. Scores out of 100: Cost 24, Risk 78, Mission not scored, Tradability 36, Holdings 47, Durability 52. Strongest: Risk (78). Weakest: Cost (24). Based on 5 of 6 pillars.

Score 42 of 100 falls in the C 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.
    F24 out of 100
    Rank 25 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.
    A78 out of 100
    Rank 4 of 33

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 27 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C47 out of 100
    Rank 24 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C52 out of 100
    Rank 20 of 34

Our read on FCLO

ETF.net Research

In short

CMost CLO ETFs hug the AAA tranche. FCLO goes down the stack, putting the majority of assets in CLOs rated BBB+ to B-, the mezzanine and junior slices, with its fee waived to zero through January 31, 2027 (0.45% gross after).

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

  • Rare down-the-stack build: most assets sit in CLOs rated BBB+ to B-, the mezzanine and junior tranches, while category leaders CLOA, JAAA and PAAA stay in AAA.fidelity.com
  • Fee waived to zero through January 31, 2027, against 0.20% at CLOA and JAAA and 0.19% at PAAA, and below the category median.
  • Active mandate with room to roam: at least 80% in CLOs, plus higher-rated tranches, middle-market (private credit) CLOs and other structured products.fidelity.com

Worth knowing

  • Mezzanine and junior tranches sit behind AAA in the waterfall, so loan losses reach them first. Fidelity's own materials flag more volatility and risk with the higher income.fidelity.com
  • When the waiver ends on January 31, 2027, the 0.45% gross fee applies, above CLOA and JAAA at 0.20% and PAAA at 0.19%.
  • A 2026 launch still building scale and trading volume, so spreads can run wider than at the category's long-tenured AAA funds.

FCLO Holdings

Holdings pillarC47 out of 100Rank 24 of 34 in Collateralized Loan Obligations (CLO)
Asset class
Bonds
Holdings
156
Top-10 weight
38%
Largest holding
Cash Cf15.8%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 11.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataCash Cf15.79%14,679,268$14.7M59
2No dataUs Dollar12.95%12,038,256$12M228
3No dataCtm 25-1A C TSFR3M+235 07/38 11.21%1,120,000$1.12M1
4No dataTstat 26-1A BR3 TSFR3M+135 01/1.13%1,050,000$1.05M1
5No dataEld 25-1A C TSFR3M+195 10/38 11.08%1,000,000$1M1
6No dataSand 25-1A D1 TSFR3M+310 01/391.08%1,000,000$1M1
7No dataMcfcl 2026-2A D2 3M+500 10/381.08%1,000,000$1M1
8No dataApid 25-54A D2 TSFR3M+390 10/31.07%1,000,000$999K4
9No dataAgl 25-11A Cr TSFR3M+195 10/381.07%1,000,000$999K1
10No dataSixst 26-33A D1 TSFR3M+230 10/1.07%1,000,000$994K2
11No dataMagne 26-23A DR2 TSFR3M+225 011.07%1,000,000$994K1
12No dataOakc 26-1A D1R3 TSFR3M+255 08/1.02%950,000$951K1
13No dataCtm 25-1A A1 TSFR3M+150 07/380.81%750,000$752K3
14No dataCerb 2024-3A B SFR3M+195 7/360.81%750,000$750K1
15No dataC4US 26-6A D1A TSFR3M+280 1/390.81%750,000$750K1

Showing 1–15 of 156 holdings

FCLO 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.
FCLO$10,182
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. FCLO $10,182. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 yearNo data
1 month+0.4%
3 months+1.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+4.8%

Since listing, Feb 10, 2026

FCLO in the news

FCLO Dividends

Upcoming payment
$0.19 per share
Pays 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. 9 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; Sep 29, 2026 $0.24; Oct 29, 2026 $0.19. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 29, 2026Pays Nov 2, 2026$0.19
Sep 29, 2026Oct 1, 2026$0.24
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

Risk pillarA78 out of 100Rank 4 of 33 in Collateralized Loan Obligations (CLO)
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.

FMP measures it over up to five years of monthly returns.

FCLO Cost

Compare FCLO and CLOC

Overpaying vs CLOC, cheapest in Collateralized Loan Obligations (CLO)

$5,292

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FCLO 0.45%

    $9,041

  • CLOC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • FCLO 0.45%
  • CLOC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530FCLO $9,041CLOC $3,749

Year by year

YearFCLOCLOCOverpaying
10$812$328$484
20$3,128$1,281$1,847
30$9,041$3,749$5,292

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