Fault tolerance is essential for the correct execution of large distributed simulations of discrete event systems, as the likelihood of faults increases with the size of the cloud infrastructure used. Achieving optimal performance and cost in a fault-tolerant distributed simulation remains a challenge. In this paper, we propose a replication-based approach in a conservative distributed simulation strategy that is specifically designed to minimize latency introduced by fault tolerance mechanisms. Unlike traditional replication methods, our method is tailored for conservative simulation, leveraging simulation messages and timing to maintain consistency while decoupling replica execution. As a result, our approach reduces the need for messaging and synchronization and maintains eventual consistency windows with low latency overhead, achieving near-nominal simulation performance in the absence of faults. If replicas have similar performance, memory usage can be lower compared to optimistic approaches, and recovery can be fast following a node failure, despite asynchronous replication. Experimental results show that without faults, the performance of a distributed simulator with fault management is similar to one without it. Recovery from a fault reveals that the main overhead is in replica provisioning, with minimal overhead for synchronization.