FMIJX vs. FPAG

Last updated Apr 2, 2026

Compare and contrast key facts about FMI International Fund (FMIJX) and FPA Global Equity ETF (FPAG).

FMIJX is managed by FMI Funds. It was launched on Dec 31, 2010. FPAG is an actively managed fund by FPA. It was launched on Dec 16, 2021.

Performance

FMIJX vs. FPAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMI International Fund (FMIJX) and FPA Global Equity ETF (FPAG). The values are adjusted to include any dividend payments, if applicable.

FMIJX vs. FPAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FMIJX FMI International Fund	-4.05%	8.57%	6.99%	21.81%	-18.67%	3.58%
FPAG FPA Global Equity ETF	-1.48%	25.17%	15.64%	29.55%	-17.87%	2.93%

Returns By Period

In the year-to-date period, FMIJX achieves a -4.05% return, which is significantly lower than FPAG's -1.48% return.

FMIJX

• 1D: 1.80%
• 1M: -8.34%
• YTD: -4.05%
• 6M: -3.39%
• 1Y: 5.42%
• 3Y*: 7.18%
• 5Y*: 3.01%
• 10Y*: 5.15%

FPAG

• 1D: 0.74%
• 1M: -6.59%
• YTD: -1.48%
• 6M: 2.35%
• 1Y: 23.55%
• 3Y*: 19.25%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FMIJX vs. FPAG - Expense Ratio Comparison

FMIJX has a 0.94% expense ratio, which is higher than FPAG's 0.49% expense ratio.

FMIJX

FMI International Fund

FPAG

FPA Global Equity ETF

Return for Risk

FMIJX vs. FPAG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMIJX

FMIJX Risk / Return Rank: 12
FMIJX Sharpe Ratio Rank: 11
FMIJX Sortino Ratio Rank: 11
FMIJX Omega Ratio Rank: 11
FMIJX Calmar Ratio Rank: 12
FMIJX Martin Ratio Rank: 13

FPAG

FPAG Risk / Return Rank: 68
FPAG Sharpe Ratio Rank: 66
FPAG Sortino Ratio Rank: 69
FPAG Omega Ratio Rank: 69
FPAG Calmar Ratio Rank: 70
FPAG Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMIJX vs. FPAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMI International Fund (FMIJX) and FPA Global Equity ETF (FPAG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FMIJX	FPAG	Difference
Sharpe ratio Return per unit of total volatility	0.32	1.21	-0.89
Sortino ratio Return per unit of downside risk	0.58	1.80	-1.22
Omega ratio Gain probability vs. loss probability	1.08	1.26	-0.19
Calmar ratio Return relative to maximum drawdown	0.33	1.92	-1.59
Martin ratio Return relative to average drawdown	1.27	7.02	-5.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMIJX vs. FPAG - Sharpe Ratio Comparison

The current FMIJX Sharpe Ratio is 0.32, which is lower than the FPAG Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FMIJX and FPAG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMIJX	FPAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	1.21	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.57	-0.11

Correlation

The correlation between FMIJX and FPAG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FMIJX vs. FPAG - Dividend Comparison

FMIJX's dividend yield for the trailing twelve months is around 13.64%, more than FPAG's 1.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIJX FMI International Fund	13.64%	13.09%	0.00%	0.00%	4.43%	3.46%	0.00%	3.55%	7.43%	0.28%	3.76%	1.84%
FPAG FPA Global Equity ETF	1.54%	1.99%	1.42%	1.51%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FMIJX vs. FPAG - Drawdown Comparison

The maximum FMIJX drawdown since its inception was -37.45%, which is greater than FPAG's maximum drawdown of -28.43%. Use the drawdown chart below to compare losses from any high point for FMIJX and FPAG.

Drawdown Indicators

	FMIJX	FPAG	Difference
Max Drawdown Largest peak-to-trough decline	-37.45%	-28.43%	-9.02%
Max Drawdown (1Y) Largest decline over 1 year	-13.46%	-12.31%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	-21.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.45%	—	—
Current Drawdown Current decline from peak	-10.02%	-8.53%	-1.49%
Average Drawdown Average peak-to-trough decline	-4.65%	-6.51%	+1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	3.37%	+0.14%

Volatility

FMIJX vs. FPAG - Volatility Comparison

The current volatility for FMI International Fund (FMIJX) is 6.11%, while FPA Global Equity ETF (FPAG) has a volatility of 6.47%. This indicates that FMIJX experiences smaller price fluctuations and is considered to be less risky than FPAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMIJX	FPAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	6.47%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	10.40%	11.03%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	17.15%	19.56%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	19.50%	-5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	19.50%	-4.44%