Strategic Advisers Income Opportunities Fund (FPIOX)

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Strategic Advisers Income Opportunities Fund (FPIOX) is up 1.6% since the beginning of the year. FPIOX is currently trading at $9 per share. Investors who bought $1,000 worth of FPIOX shares 5 years ago would now be looking at an investment worth $1,202.

Strategic Advisers Income Opportunities Fund (FPIOX) has returned 1.55% so far this year and 7.00% over the past 12 months. Over the last ten years, FPIOX has returned 5.33% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% 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 +0.47%. At this rate, an investment would double in approximately 12.3 years.

Historically, 69% of months were positive and 31% 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 3.90%, beta of 0.15, and R2 of 0.28 versus S&P 500 Index. Calculated based on daily prices since September 28, 2007.

• This fund participated in 45.57% of S&P 500 Index downside but only 42.00% 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 82 for risk / return — in the top 82% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

Strategic Advisers Income Opportunities Fund provided a 4.94% dividend yield over the last twelve months, with an annual payout of $0.44 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 0.22%.

The chart below shows the rolling one-month volatility.