FAAA ETF — Fidelity AAA CLO ETF

Fidelity AAA CLO ETF (FAAA)

FAAA is a low-cost ETF. its distribution rate is 4.55%, its trailing-12-month yield is 2.40%, its expense ratio is 0.00%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 3.1% over the past 0.6 years, 9.6 points behind SPY at 12.7%.

At the current 4.55% distribution rate, a $10,000 investment would generate approximately $455 per year, or $37.92 per month.

Fidelity AAA CLO ETF is an ETF that invests at least 80% of its assets in collateralized loan obligations (CLOs) rated AAA by nationally recognized rating organizations. The fund distributes income monthly at a current distribution rate in the mid-single digits, with a zero expense ratio. It appeals to fixed-income investors seeking higher yields from credit instruments with top-tier credit ratings.

FAAA performance versus SPY

Price and return data through 2026-09-18.

Total return is 3.1% over the past 0.6 years, 9.6 points behind SPY at 12.7%.

FAAA key facts

Distribution Safety Score™

50 · Unproven

Issuer

Fidelity Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

02/10/2026

Expense ratio

0.00%

Distribution rate

4.55%

Distribution frequency

Monthly

Trailing yield

2.40%

Last close

$50.41 (as of 2026-09-18)

NAV

$50.26

Premium / discount

0.30% premium

AUM

$113,008,300

Average volume

68000.0

Last dividend

$0.191

Last ex-dividend date

08/28/2026

Last payment date

09/01/2026

Beta

-0.0006

How Dividend Vision calculates yield and returns

Distribution rate (4.55%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (2.40%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Fidelity Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FAAA risks and drawbacks

Total return has trailed SPY over the available window.

Who may consider FAAA — and who may not

FAAA may suit someone looking for low-cost broad dividend exposure, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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