QRSAX – Fund Analysis – FPA Queens Road Small Cap Value Advisor | Morningstar

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Will QRSAX outperform in the future?

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

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Process Pillar

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

The People Pillar is our evaluation of the QRSAX 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 QRSAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Steady but not stagnant.

Associate Director Tony Thomas

Tony Thomas

Associate Director

Summary

FPA Queens Road Small Cap Value is a no-drama offering where changes are gradual—and often positive. It earns Above Average People and Process ratings.

by Tony Thomas

Rated on Jul 24, 2026 Published on Jul 24, 2026

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