Strategic Advisers Income Opportunities Fund (FPIOX)

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The chart shows the growth of an initial investment of $10,000 in Strategic Advisers Income Opportunities Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Strategic Advisers Income Opportunities Fund (FPIOX) has returned -2.22% so far this year and 5.22% over the past 12 months. Over the last ten years, FPIOX has returned 5.31% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Sep 28, 2007, FPIOX's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, your investment would double in approximately 12.6 years.

Historically, 70% of months were positive and 30% were negative. The best month was Apr 2009 with a return of +9.9%, while the worst month was Oct 2008 at -15.2%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.

On a daily basis, FPIOX closed higher 44% of trading days. The best single day was Mar 26, 2020 with a return of +3.2%, while the worst single day was Oct 10, 2008 at -3.9%.

Strategic Advisers Income Opportunities Fund has an annualized alpha of 3.86%, beta of 0.15, and R² of 0.28 versus S&P 500 Index. Calculated based on daily prices since October 01, 2007.

• This fund participated in 45.91% of S&P 500 Index downside but only 42.84% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.15 may look defensive, but with R² of 0.28 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.28 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FPIOX has an expense ratio of 0.49%, placing it in the medium range.

FPIOX ranks 71 for risk / return — better than 71% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Strategic Advisers Income Opportunities Fund (FPIOX) and compare them to a chosen benchmark (S&P 500 Index).

Strategic Advisers Income Opportunities Fund provided a 3.99% dividend yield over the last twelve months, with an annual payout of $0.35 per share.

The table displays the monthly dividend distributions for Strategic Advisers Income Opportunities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Strategic Advisers Income Opportunities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Strategic Advisers Income Opportunities Fund was 36.95%, occurring on Dec 16, 2008. Recovery took 233 trading sessions.

The current Strategic Advisers Income Opportunities Fund drawdown is 2.66%.

The chart below shows the rolling one-month volatility.