Fidelity AAA CLO (FAAAX) price

FAAAX tracks Fidelity AAA CLO, a fund that holds bonds, Treasury securities, or loans and pays out the income they generate. Its price moves with interest rates and, for corporate debt and loans, with the credit quality of the borrowers.

Funds holding short-dated debt tend to move little when rates change, while funds holding long-dated bonds can swing sharply. Distributions from the fund are usually reflected in the token rather than paid in cash.

Fidelity AAA CLO xStock

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FAAAX contract address

Xs8rb8QG9mEuQ41g2cUzuJLZt3xEPQFhvgb9s4obXSn

Ticker

FAAAX

Issuer

xStocks

Status

Verified

FAAAX is issued by Backed Finance. Backed Finance issues xStocks through Backed Assets (JE) Limited, which holds the underlying securities with custodians and handles minting and redemption for eligible clients.

What you hold is the token, not the underlying asset. FAAAX tracks the price of Fidelity AAA CLO, but it doesn't give you shareholder rights or a direct claim on the underlying holdings. Minting and redemption are handled by Backed Finance for eligible clients under its own terms. Solflare is a self-custody wallet for holding and swapping FAAAX, and it does not issue, back, or custody the token.

The price of FAAAX on Solana is set by on-chain trading. Where liquidity is deep, it tends to stay close to the underlying price. Where liquidity is thin, a small swap can move the price and the gap to the underlying can widen.

Distribution terms for FAAAX are set by Backed Finance. Where the underlying fund pays distributions, issuers usually reflect them in the token rather than paying cash.

FAAAX can be swapped on Solana at any hour, but the fund it tracks trades only during US market hours. Outside those hours there's no live fund price, so the price of FAAAX comes from on-chain trading alone and can drift from the fund's last close.

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