Fidelity Low Volatility Factor ETF (FDLO) Performance
FDLO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +11.9% since Dec 31, 2025
- 1 year
- +14.0% total return
- 5 years
- +9.6% a year
- 10 years
- +13.3% a year
- Since first price
- +13.0% a year since 2016
FDLO trailing returns vs SPY, QQQ, AGG
| Period | FDLO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.7% | +3.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.9% | +6.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.5% | +7.7% | +7.8% | +8.4% | −1.5% |
| YTD | +11.9% | +10.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.0% | +12.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +59.3%+16.8%/yr | +52.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +57.9%+9.6%/yr | +46.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +248.3%+13.3%/yr | +198.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionSep 15, 2016 | +243.5%+13.0%/yr | +194.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FDLO vs SPY
From Sep 15, 2016: FDLO grew to $34,348, SPY to $41,546.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FDLO returns by calendar year
7 of 9 full years positive. Best 2019 (+31.1%), worst 2022 (−10.4%). 2026 is year to date.
FDLO annual returns table
| Year | FDLO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +11.9% | −7.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.8% | −13.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.1% | −4.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.4% | −6.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.4% | −18.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +24.0% | −5.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +12.2% | −34.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +31.1% | −4.9% | +31.2% | +39.0% | +8.5% |
| 2018 | −0.3% | −16.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +20.4% | −2.1% | +21.7% | +32.7% | +3.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FDLO largest drawdowns
Now 0.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −34.3% | Mar 23, 2020 | Aug 28, 2020 | 33 days | 6 months |
| Dec 29, 2021 | −19.2% | Sep 30, 2022 | Nov 20, 2023 | 9 months | 1.9 years |
| Sep 21, 2018 | −16.0% | Dec 24, 2018 | Mar 13, 2019 | 3 months | 6 months |
| Feb 19, 2025 | −13.7% | Apr 8, 2025 | Jul 1, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FDLO risk statistics
| Statistic | 3 years | 5 years | 10 years |
|---|---|---|---|
| Annualized return | +14.9% | +9.8% | +12.6% |
| Volatility (annualized) | 10.0% | 13.0% | 13.3% |
| Sharpe ratio | 1.02 | 0.51 | 0.79 |
| Sortino ratio | 1.74 | 0.81 | 1.21 |
| Best month | +7.2% | +9.2% | +10.9% |
| Worst month | −5.2% | −7.6% | −13.0% |
| Best 12 months | +27.9% | +27.9% | +42.5% |
| Worst 12 months | +8.1% | −10.4% | −10.4% |
| Positive months | 69% | 62% | 68% |
| Beta vs S&P 500 | 0.68 | 0.76 | 0.82 |
| Correlation with S&P 500 | 0.84 | 0.92 | 0.94 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FDLO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 110 | −10.4% | +13.0% | +42.5% | 89% |
| 3-year (a year) | 86 | +6.1% | +12.5% | +22.2% | 100% |
| 5-year (a year) | 62 | +9.3% | +11.8% | +17.3% | 100% |
| 10-year (a year) | 2 | +12.6% | +12.9% | +13.3% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
FDLO performance overview
Fidelity Low Volatility Factor ETF (FDLO) returned +14.0% over the past year and +13.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2016 it has returned +13.0% a year, turning $10,000 into about $34,348. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −34.3%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. FDLO finished 7 of its 9 full calendar years with a gain; the best year was 2019 (+31.1%) and the worst 2022 (−10.4%). Volatility has been 13.3% a year.
Related: FDLO chart, FDLO holdings, FDLO dividends, FDLO valuation. See the FDLO overview for the latest quote and fund facts.
FDLO performance FAQ
What is the FDLO return over the past year?
FDLO returned +14.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.3%.
What is the average annual return of FDLO?
FDLO has returned +9.6% a year over 5 years, +13.3% a year over 10 years, +13.0% a year since September 15, 2016 (total return, distributions reinvested).
How much would $10,000 invested in FDLO be worth?
$10,000 invested in FDLO at its first recorded close on September 15, 2016 would be worth about $34,348 on October 23, 2026 with distributions reinvested.
What was the worst year for FDLO?
The worst calendar year was 2022, with a total return of −10.4%. The best was 2019 at +31.1%.
What is the biggest drawdown of FDLO?
The largest peak-to-trough decline was −34.3% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 28, 2020, 5 months after the bottom.
How volatile is FDLO?
Over the past 3 years FDLO had an annualized volatility of 10.0% and a Sharpe ratio of 1.02 (excess return over 1–3 month T-bills per unit of risk).