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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 9.96  /  −0.10 %
  • 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 Medium/Limited
  • Min. Initial Investment 100,000
  • Status Open
  • TTM Yield 4.77%
  • Effective Duration 2.71 years

USD | NAV as of Apr 18, 2024 | 1-Day Return as of Apr 18, 2024, 10:16 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.

Increased confidence in FPA Flexible Fixed Income's prospects relative to its Morningstar Category peers results in an upgrade in this strategy's Morningstar Medalist Rating to Bronze from Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

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

by Morningstar Manager Research
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Portfolio Holdings FPFIX

More FPFIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 15.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Bills 0%

4.97 47.6 Mil
Government

United States Treasury Notes 4.375%

4.73 45.3 Mil
Government

United States Treasury Bills 0%

2.09 20.0 Mil
Government

United States Treasury Notes 3.75%

2.08 19.9 Mil
Government

Fnma Pass-Thru I 1%

1.23 11.8 Mil
Securitized

United States Treasury Notes 4.625%

1.19 11.4 Mil
Government

Fnma Pass-Thru I 1.5%

1.17 11.2 Mil
Securitized

Fnma Pass-Thru I 1%

1.10 10.5 Mil
Securitized

Federal National Mortgage Association 1.5%

1.09 10.5 Mil
Securitized

MidCap Financial Issuer Trust 6.5%

1.03 9.9 Mil
Corporate