FAAA ETF — Fidelity AAA CLO ETF

Fidelity AAA CLO ETF (FAAA)

Updated November 4, 2026.

FAAA is a low-cost ETF. Its distribution rate is 3.15%, its trailing-12-month yield is 3.01%, its expense ratio is 0.00%. Dividend Vision Distribution Safety Score™ is 79/100 (Generally safe). Total return is 3.6% over the past 0.7 years, 9.8 points behind SPY at 13.4%.

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

As of Nov 4, 2026

Total return is 3.6% over the past 0.7 years, 9.8 points behind SPY at 13.4%.

FAAA key facts

Distribution Safety Score™

79 · Generally safe

Safety-Adjusted Yield

2.49%

Issuer

Fidelity Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

02/10/2026

Expense ratio

0.00%

Distribution rate

3.15%

Distribution frequency

Monthly

Trailing yield

3.01%

Last close

$50.34 (as of 2026-11-04)

AUM

$285,224,508

Average volume

86,311

Dividend

$0.132

Ex-dividend date

10/29/2026

Payment date

11/02/2026

Beta

-0.0006

How Dividend Vision calculates yield and returns

Distribution rate (3.15%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.01%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. 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.

Yield and safety methodology · 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

FAAA's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. 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.

More on FAAA

• All tickers starting with F

Tagged: Fixed Income.

Frequently asked questions

More securities from Fidelity Investments.