FPA Flexible Fixed Income Fund Advisor Class FFIAX

Medalist Rating as of | See FPA Investment Hub
  • NAV / 1-Day Return 10.19  /  0.00
  • Total Assets 2.2B
  • Adj. Expense Ratio
    0.600%
  • Expense Ratio 0.600%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity High/Limited
  • Min. Initial Investment 1,500
  • Status Open
  • TTM Yield 4.01%
  • Effective Duration 3.52 years

USD | NAV as of Jun 09, 2026 | 1-Day Return as of Jun 09, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FFIAX

Will FFIAX outperform in the future?

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

A model of restraint.

Senior Principal Eric Jacobson

Eric Jacobson

Senior Principal

Summary

Decades of experience covering FPA and its management underpin our trust in this team and fund. With few constraints and no set benchmark, FPA Flexible Fixed Income’s goal is to produce a positive absolute return over trailing three-year periods while beating inflation by 200 basis points over five years. So, while those targets—and a risk-sensitive culture at First Pacific Advisors—make it unlikely to go to extremes, the strategy’s only constraint on interest rate risk as measured by duration is to stay positive; it can also hold up to 75% of assets in debt rated BBB or lower.

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Portfolio Holdings FFIAX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 35.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Notes

8.83 184M
Government

United States Treasury Notes

8.49 177M
Government

United States Treasury Notes

6.61 138M
Government

United States Treasury Notes

5.85 122M
Government

United States Treasury Bills

3.45 72M
Government

United States Treasury Bills

2.61 54M
Government

United States Treasury Notes

2.25 47M
Government

United States Treasury Bills

1.71 36M
Government

J.P. MORGAN MORTGAGE TRUST 2022-1

0.93 19M
Securitized

Federal National Mortgage Association

0.72 15M
Securitized

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