FPA New Income Fund (FPNIX)
The fund primarily invests in a diversified portfolio of debt securities, cash and cash equivalents. It generally invests in highly rated debt securities and will invest at least 75% of its total assets, calculated at market value at the time of purchase, in debt securities rated at least A- or its equivalent by a NRSRO. The fund may invest up to 25% of its total assets, calculated at market value at the time of purchase, in debt securities that are rated below A- or its equivalent by a NRSRO or that are unrated.
Fund Info
| ISIN | US3025441011 |
|---|---|
| CUSIP | 302544101 |
| Issuer | FPA |
| Inception Date | Jul 11, 1984 |
| Category | Short-Term Bond |
| Min. Investment | $1,500 |
| Asset Class | Bond |
Expense Ratio
FPNIX has a high expense ratio of 0.45%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in FPA New Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
FPA New Income Fund had a return of 0.91% year-to-date (YTD) and 6.08% in the last 12 months. Over the past 10 years, FPA New Income Fund had an annualized return of 2.06%, while the S&P 500 had an annualized return of 10.84%, indicating that FPA New Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 0.91% | 10.00% |
| 1 month | 0.67% | 2.41% |
| 6 months | 3.58% | 16.70% |
| 1 year | 6.08% | 26.85% |
| 5 years (annualized) | 2.18% | 12.81% |
| 10 years (annualized) | 2.06% | 10.84% |
Monthly Returns
The table below presents the monthly returns of FPNIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.58% | -0.37% | 0.66% | -0.88% | 0.91% | ||||||||
| 2023 | 1.45% | -0.56% | 1.13% | 0.41% | -0.10% | -0.10% | 0.56% | 0.95% | 0.18% | 0.06% | 1.76% | 1.93% | 7.91% |
| 2022 | -0.29% | -0.43% | -1.02% | -0.50% | 0.03% | -0.56% | 0.69% | -0.62% | -1.03% | -0.39% | 0.91% | 0.08% | -3.10% |
| 2021 | 0.34% | 0.04% | 0.00% | 0.09% | 0.20% | -0.01% | 0.20% | -0.02% | 0.17% | -0.03% | -0.03% | -0.14% | 0.84% |
| 2020 | 0.51% | 0.50% | -2.38% | 1.14% | 0.62% | 0.88% | 0.28% | 0.27% | 0.17% | 0.22% | 0.15% | 0.24% | 2.59% |
| 2019 | 0.37% | 0.10% | 0.67% | 0.40% | 0.62% | 0.31% | 0.11% | 0.61% | 0.11% | 0.31% | 0.11% | 0.02% | 3.81% |
| 2018 | 0.00% | 0.20% | 0.20% | 0.06% | 0.40% | 0.20% | 0.10% | 0.30% | 0.00% | 0.13% | 0.20% | 0.48% | 2.30% |
| 2017 | 0.20% | 0.30% | 0.10% | 0.20% | 0.40% | 0.00% | 0.40% | 0.30% | 0.30% | 0.05% | 0.20% | 0.18% | 2.67% |
| 2016 | -0.10% | 0.20% | 0.50% | 0.40% | -0.10% | 0.50% | 0.25% | 0.30% | 0.20% | 0.10% | -0.20% | 0.45% | 2.53% |
| 2015 | 0.40% | -0.00% | 0.20% | 0.20% | 0.10% | -0.00% | 0.00% | -0.30% | 0.20% | -0.20% | -0.10% | -0.34% | 0.15% |
| 2014 | 0.39% | 0.19% | -0.00% | 0.20% | 0.29% | 0.10% | -0.10% | 0.20% | 0.00% | 0.10% | 0.10% | -0.15% | 1.32% |
| 2013 | 0.09% | 0.19% | 0.28% | 0.39% | -0.19% | -0.38% | -0.19% | -0.10% | 0.38% | 0.29% | 0.10% | -0.19% | 0.67% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of FPNIX is 91, placing it in the top 9% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
FPNIX (FPA New Income Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
FPA New Income Fund granted a 4.60% dividend yield in the last twelve months. The annual payout for that period amounted to $0.45 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.45 | $0.43 | $0.20 | $0.12 | $0.22 | $0.26 | $0.31 | $0.28 | $0.23 | $0.19 | $0.29 | $0.44 |
Dividend yield | 4.60% | 4.39% | 2.13% | 1.24% | 2.24% | 2.63% | 3.10% | 2.84% | 2.31% | 1.87% | 2.82% | 4.28% |
Monthly Dividends
The table displays the monthly dividend distributions for FPA New Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.13 | |||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.05 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.20 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.12 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.22 |
| 2019 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.08 | $0.31 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.08 | $0.00 | $0.07 | $0.28 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.07 | $0.23 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.03 | $0.00 | $0.04 | $0.19 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.05 | $0.00 | $0.08 | $0.29 |
| 2013 | $0.07 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.00 | $0.08 | $0.44 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the FPA New Income 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 FPA New Income Fund was 5.13%, occurring on Oct 19, 1987. Recovery took 13 trading sessions.
The current FPA New Income Fund drawdown is 0.01%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -5.13% | Aug 18, 1987 | 45 | Oct 19, 1987 | 13 | Nov 5, 1987 | 58 |
| -4.67% | Oct 21, 2021 | 252 | Oct 20, 2022 | 214 | Aug 29, 2023 | 466 |
| -4.23% | Jun 24, 2002 | 33 | Aug 9, 2002 | 179 | Apr 28, 2003 | 212 |
| -3.91% | Dec 30, 1993 | 95 | May 11, 1994 | 187 | Jan 27, 1995 | 282 |
| -3.71% | Jan 2, 1992 | 53 | Mar 16, 1992 | 64 | Jun 12, 1992 | 117 |
Volatility
Volatility Chart
The current FPA New Income Fund volatility is 0.77%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.