FPFIX vs. FPNIX
Compare and contrast key facts about FPA Flexible Fixed Income Fund (FPFIX) and FPA New Income Fund (FPNIX).
FPFIX is managed by FPA. It was launched on Dec 30, 2018. FPNIX is managed by FPA. It was launched on Jul 11, 1984.
Performance
FPFIX vs. FPNIX - Performance Comparison
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FPFIX vs. FPNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FPFIX FPA Flexible Fixed Income Fund | -0.23% | 6.87% | 5.28% | 8.11% | -2.82% | 1.77% | 4.71% | 3.78% |
FPNIX FPA New Income Fund | -0.16% | 6.71% | 4.58% | 6.78% | -3.10% | 0.84% | 2.51% | 3.71% |
Returns By Period
In the year-to-date period, FPFIX achieves a -0.23% return, which is significantly lower than FPNIX's -0.16% return.
FPFIX
- 1D
- 0.29%
- 1M
- -1.63%
- YTD
- -0.23%
- 6M
- 0.99%
- 1Y
- 4.52%
- 3Y*
- 5.87%
- 5Y*
- 3.57%
- 10Y*
- —
FPNIX
- 1D
- 0.30%
- 1M
- -1.48%
- YTD
- -0.16%
- 6M
- 0.98%
- 1Y
- 4.49%
- 3Y*
- 5.26%
- 5Y*
- 2.98%
- 10Y*
- 2.86%
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FPFIX vs. FPNIX - Expense Ratio Comparison
FPFIX has a 0.51% expense ratio, which is higher than FPNIX's 0.45% expense ratio.
Return for Risk
FPFIX vs. FPNIX — Risk / Return Rank
FPFIX
FPNIX
FPFIX vs. FPNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA Flexible Fixed Income Fund (FPFIX) and FPA New Income Fund (FPNIX). 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.
| FPFIX | FPNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 1.74 | -0.03 |
Sortino ratioReturn per unit of downside risk | 2.53 | 2.59 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.45 | 2.49 | -0.04 |
Martin ratioReturn relative to average drawdown | 10.78 | 11.01 | -0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPFIX | FPNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.74 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.57 | 1.24 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.81 | 1.02 | +0.79 |
Correlation
The correlation between FPFIX and FPNIX 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
FPFIX vs. FPNIX - Dividend Comparison
FPFIX's dividend yield for the trailing twelve months is around 3.76%, less than FPNIX's 3.81% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPFIX FPA Flexible Fixed Income Fund | 3.76% | 3.78% | 4.76% | 3.95% | 2.92% | 2.26% | 3.00% | 2.42% | 0.00% | 0.00% | 0.00% | 0.00% |
FPNIX FPA New Income Fund | 3.81% | 3.36% | 4.39% | 3.37% | 2.13% | 1.24% | 2.17% | 2.63% | 3.10% | 2.84% | 2.31% | 1.87% |
Drawdowns
FPFIX vs. FPNIX - Drawdown Comparison
The maximum FPFIX drawdown since its inception was -4.11%, smaller than the maximum FPNIX drawdown of -22.95%. Use the drawdown chart below to compare losses from any high point for FPFIX and FPNIX.
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Drawdown Indicators
| FPFIX | FPNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.11% | -22.95% | +18.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.01% | -1.97% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -4.11% | -4.67% | +0.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.67% | — |
Current DrawdownCurrent decline from peak | -1.63% | -1.48% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -1.86% | +1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.45% | +0.01% |
Volatility
FPFIX vs. FPNIX - Volatility Comparison
FPA Flexible Fixed Income Fund (FPFIX) and FPA New Income Fund (FPNIX) have volatilities of 1.13% and 1.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPFIX | FPNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.10% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 1.64% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 2.66% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 2.41% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.08% | 1.88% | +0.20% |