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Morningstar

FPA Flexible Fixed Income FPFIX

Morningstar Medalist Rating
Medalist Rating as of | See FPA Investment Hub
  • NAV / 1-Day Return 10.02  /  −0.20 %
  • Total Assets 1.1 Bil
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity High/Limited
  • Min. Initial Investment 100,000
  • Status Open
  • TTM Yield 4.84%
  • Effective Duration 2.96 years

USD | NAV as of May 23, 2024 | 1-Day Return as of May 23, 2024, 10:13 PM GMT+0

Morningstar’s Analysis FPFIX

Will FPFIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FPFIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FPFIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FPFIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

FPA Flexible Fixed Income’s Process Pillar rating is Average, but a strong management team still helps this strategy retain its Morningstar Medalist Rating of Bronze.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a sizable cost advantage over competitors, priced within the lowest fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FPFIX

More FPFIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 19.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Notes 4%

7.28 79.2 Mil
Government

United States Treasury Bills 5.1575%

5.43 59.2 Mil
Government

United States Treasury Notes 4.25%

3.93 42.8 Mil
Government

Fnma Pass-Thru I 1%

1.53 16.7 Mil
Securitized

United States Treasury Notes 4.625%

1.02 11.1 Mil
Government

Morgan Stanley Instl Lqudty Trs Instl

1.00 10.9 Mil
Cash and Equivalents

Fnma Pass-Thru I 1.5%

1.00 10.9 Mil
Securitized

VERIZON MASTER TRUST 4.83%

0.94 10.3 Mil
Securitized

Federal National Mortgage Association 1.5%

0.93 10.1 Mil
Securitized

Fnma Pass-Thru I 1%

0.93 10.1 Mil
Securitized