- ISIN
- US1048261028
- CUSIP
- 104826102
- Issuer
- FPA
- Inception Date
- Jun 13, 2002
- Category
- Large Cap Value Equities
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
QRVLX Performance Chart
FPA Queens Road Value Fund (QRVLX) is up 11.2% since the beginning of the year. QRVLX is currently trading at $36 per share. Investors who bought $1,000 worth of QRVLX shares 5 years ago would now be looking at an investment worth $1,673.
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Returns By Period
FPA Queens Road Value Fund (QRVLX) has returned 11.18% so far this year and 15.45% over the past 12 months. Over the last ten years, QRVLX has returned 11.84% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
FPA Queens Road Value Fund
- 1D
- 0.34%
- 1M
- 2.47%
- YTD
- 11.18%
- 6M
- 10.22%
- 1Y
- 15.45%
- 3Y*
- 15.12%
- 5Y*
- 10.84%
- 10Y*
- 11.84%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
QRVLX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2003, QRVLX's average daily return is +0.04%, while the average monthly return is +0.82%. At this rate, an investment would double in approximately 7.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Oct 2022 with a return of +12.8%, while the worst month was Oct 2008 at -17.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, QRVLX closed higher 53% of trading days. The best single day was Mar 13, 2020 with a return of +10.0%, while the worst single day was Mar 16, 2020 at -11.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.78% | 0.46% | -5.00% | 9.27% | 3.20% | 1.51% | 11.18% | ||||||
| 2025 | 2.19% | -0.44% | -3.95% | -1.15% | 3.39% | 5.79% | -0.91% | 0.64% | 3.69% | -1.41% | -0.75% | -0.78% | 6.08% |
| 2024 | 2.73% | 5.13% | 4.78% | -2.35% | 2.43% | -1.11% | 4.35% | 1.89% | 2.66% | -2.56% | 5.85% | -5.64% | 18.91% |
| 2023 | 3.37% | -1.33% | -0.77% | 0.53% | -2.57% | 7.88% | 2.25% | 0.15% | -5.16% | -2.08% | 9.44% | 4.30% | 16.09% |
| 2022 | -4.38% | -2.20% | 2.28% | -6.85% | 0.74% | -7.30% | 6.64% | -3.28% | -7.68% | 12.78% | 5.94% | -3.71% | -8.85% |
| 2021 | -1.57% | 4.00% | 7.80% | 3.86% | 2.31% | -0.48% | 3.13% | 2.43% | -4.27% | 5.24% | -3.01% | 5.84% | 27.50% |
Benchmark Metrics
FPA Queens Road Value Fund has an annualized alpha of 1.22%, beta of 0.83, and R2 of 0.90 versus S&P 500 Index. Calculated based on daily prices since January 02, 2003.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (88.08%) than losses (87.75%) - typical of diversified or defensive assets.
- Alpha
- 1.22%
- Beta
- 0.83
- R²
- 0.90
- Upside Capture
- 88.08%
- Downside Capture
- 87.75%
Expense Ratio
QRVLX has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
QRVLX ranks 21 for risk / return — below 21% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for FPA Queens Road Value Fund (QRVLX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QRVLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.37 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.78 | -1.13 |
| Martin ratioReturn relative to average drawdown | 4.99 | 12.44 | -7.45 |
Dividends
Dividend History
FPA Queens Road Value Fund provided a 2.53% dividend yield over the last twelve months, with an annual payout of $0.90 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.90 | $0.90 | $1.13 | $0.80 | $0.67 | $4.54 | $1.62 | $0.84 | $1.41 | $0.93 | $1.10 | $0.58 |
Dividend yield | 2.53% | 2.81% | 3.64% | 2.95% | 2.77% | 16.71% | 6.49% | 3.40% | 6.82% | 3.99% | 5.48% | 3.12% |
Monthly Dividends
The table displays the monthly dividend distributions for FPA Queens Road Value 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.90 | $0.90 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.13 | $1.13 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.80 | $0.80 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.67 | $0.67 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.54 | $4.54 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the FPA Queens Road Value 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 Queens Road Value Fund was 51.40%, occurring on Mar 9, 2009. Recovery took 973 trading sessions.
The current FPA Queens Road Value Fund drawdown is 0.17%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -51.40%Mar 2009 | 1y 4mo | 3y 10mo | 5y 2moNov 2007 - Jan 2013 |
COVID crash2020 | -34.80%Mar 2020 | 1mo 9d | 7mo 28d | 9mo 7dFeb 2020 - Nov 2020 |
Bear market2022 | -21.70%Sep 2022 | 8mo 21d | 1y 2mo | 1y 10moJan 2022 - Nov 2023 |
Rate-hike selloffLate 2018 | -16.03%Dec 2018 | 3mo 1d | 2mo 21d | 5mo 22dSep 2018 - Mar 2019 |
2025 selloff2025 | -16.00%Apr 2025 | 4mo 12d | 2mo 24d | 7mo 6dNov 2024 - Jul 2025 |
Drawdown Indicators
| QRVLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.40% | -56.78% | +5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -9.10% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -16.00% | -18.90% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -21.70% | -25.43% | +3.73% |
Max Drawdown (10Y)Largest decline over 10 years | -34.80% | -33.92% | -0.88% |
Current DrawdownCurrent decline from peak | -0.17% | -1.80% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -10.71% | +4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 2.03% | +1.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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