ETF Evaluator:
Fidelity CLO ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Securitized Bond - Focused Over the Last Year
| 6.0% | iShares BBB-B CLO Active ETF (BCLO) |
| 5.6% | Nuveen AA-BBB CLO ETF (NCLO) |
| 5.4% | Reckoner Yield Enhanced AAA CLO ETF (RAAA) |
| 5.4% | Eldridge BBB-B CLO ETF (CLOZ) |
| 5.3% | BondBloxx Private Credit CLO ETF (PCMM) |
Risk
Index
Risk
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ETF Details
Fidelity CLO ETF Overview
Fidelity CLO ETF (FCLO) is an actively managed Taxable Bond Securitized Bond - Focused exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2026.
The investment seeks to generate income.
The fund is normally investing at least 80% of assets in collateralized loan obligations (CLOs). It is a type of asset-backed security. The fund is typically collateralized by a pool of loans, which may include domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans, and including "covenant lite" loans, which have few or no financial maintenance covenants. CLOs may charge management fees and other expenses. It is non-diversified.
About Fidelity CLO ETF (FCLO)
There are 2 members of the management team with an average tenure of 0.47 years: David DeBiase (2026) and Michelle Liu (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Fidelity CLO ETF has 81 securities in its portfolio. The top 10 holdings constitute 28.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Fidelity CLO ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Fidelity CLO ETF has 54.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.2% (45.2% domestic bond, 54.0% foreign bond and 0.0% convertible bond). Fidelity CLO ETF has 3.7% of the portfolio in cash.
Assets Under Management
The fund has $31 million in total assets, which is below the $1 billion average for the Securitized Bond - Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FCLO Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity CLO ETF expense ratio is low compared to funds in the Securitized Bond - Focused category. Fidelity CLO ETF has an expense ratio of 0.00%, which is 100% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity CLO ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 51% for the Securitized Bond - Focused category.
Recently, in the month of July 2026, Fidelity CLO ETF returned 0.6%, which earned it a grade of A, as the Securitized Bond - Focused category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Fidelity CLO ETF has a trailing yield of 0.00%, which is below the 5.32% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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FCLO Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FCLO Return (NAV) | 0.6% | 1.5% | na | na | na | na |
| FCLO Return (Price) | 0.5% | 1.5% | na | na | na | na |
| NAV +/- Price Return | 0.021% | -0.021% | na | na | na | na |
| Securitized Bond - Focused Avg | 0.3% | 1.2% | 4.9% | 6.6% | 3.4% | 1.9% |
| FCLO Grade (NAV) | A | A | na | na | na | na |
| +/- Category (NAV) | 0.2% | 0.3% | na | na | na | na |
| FCLO Tax-Cost Ratio | na | na | na | na | na | na |
FCLO Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FCLO Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| FCLO Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Securitized Bond - Focused Avg | 2.5% | 5.9% | 7.6% | 9.0% | -3.7% | 0.3% | 5.8% | 7.5% | 0.6% | 3.1% | 3.0% |
| FCLO Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 31 Mil |
| Share Class Assets: | $ 31 Mil |
| Turnover: | na |
| Expense Ratio: | 0.00% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.5 years | |||
| Average Tenure: 0.5 years | |||
| Managers (Year): DeBiase David (2026), Liu Michelle (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 81 |
| % in Top 10 Holdings: | 28.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 54.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 45.2% |
| Foreign Bond: | 54.0% |
| Convertible Bond: | 0.0% |
| Other: | -2.9% |
| Cash: | 3.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-343-3548 |
| Website: | www.institutional.fidelity.com |
| Inception Date: | February 10, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.00% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.31% |
