FPNIX vs. DFAIX
Compare and contrast key facts about FPA New Income Fund (FPNIX) and DFA Short-Duration Real Return Portfolio (DFAIX).
FPNIX is managed by FPA. It was launched on Jul 11, 1984. DFAIX is managed by Dimensional. It was launched on Nov 5, 2013.
Performance
FPNIX vs. DFAIX - Performance Comparison
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FPNIX vs. DFAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | -0.16% | 6.71% | 4.58% | 6.78% | -3.10% | 0.84% | 2.51% | 3.81% | 2.30% | 2.67% |
DFAIX DFA Short-Duration Real Return Portfolio | 0.86% | 4.86% | 6.38% | 5.64% | -2.77% | 5.40% | 2.75% | 5.63% | 0.11% | 1.71% |
Returns By Period
In the year-to-date period, FPNIX achieves a -0.16% return, which is significantly lower than DFAIX's 0.86% return. Over the past 10 years, FPNIX has underperformed DFAIX with an annualized return of 2.86%, while DFAIX has yielded a comparatively higher 3.20% annualized return.
FPNIX
- 1D
- 0.00%
- 1M
- -1.19%
- YTD
- -0.16%
- 6M
- 0.88%
- 1Y
- 4.38%
- 3Y*
- 5.26%
- 5Y*
- 2.98%
- 10Y*
- 2.86%
DFAIX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.86%
- 6M
- 1.22%
- 1Y
- 3.68%
- 3Y*
- 5.27%
- 5Y*
- 3.80%
- 10Y*
- 3.20%
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FPNIX vs. DFAIX - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is higher than DFAIX's 0.22% expense ratio.
Return for Risk
FPNIX vs. DFAIX — Risk / Return Rank
FPNIX
DFAIX
FPNIX vs. DFAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and DFA Short-Duration Real Return Portfolio (DFAIX). 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.
| FPNIX | DFAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.70 | 3.49 | -1.79 |
Sortino ratioReturn per unit of downside risk | 2.53 | 5.81 | -3.27 |
Omega ratioGain probability vs. loss probability | 1.34 | 2.05 | -0.71 |
Calmar ratioReturn relative to maximum drawdown | 2.33 | 8.23 | -5.90 |
Martin ratioReturn relative to average drawdown | 10.08 | 32.03 | -21.95 |
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
| FPNIX | DFAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 3.49 | -1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 1.20 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.52 | 1.26 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 1.08 | -0.06 |
Correlation
The correlation between FPNIX and DFAIX is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FPNIX vs. DFAIX - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 3.81%, less than DFAIX's 4.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DFAIX DFA Short-Duration Real Return Portfolio | 4.61% | 4.65% | 4.14% | 3.66% | 1.68% | 0.98% | 0.82% | 2.53% | 2.72% | 1.71% | 1.41% | 1.29% |
Drawdowns
FPNIX vs. DFAIX - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -22.95%, which is greater than DFAIX's maximum drawdown of -5.63%. Use the drawdown chart below to compare losses from any high point for FPNIX and DFAIX.
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Drawdown Indicators
| FPNIX | DFAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.95% | -5.63% | -17.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -0.47% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -4.67% | -5.46% | +0.79% |
Max Drawdown (10Y)Largest decline over 10 years | -4.67% | -5.63% | +0.96% |
Current DrawdownCurrent decline from peak | -1.48% | -0.28% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -0.95% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.12% | +0.34% |
Volatility
FPNIX vs. DFAIX - Volatility Comparison
FPA New Income Fund (FPNIX) has a higher volatility of 1.08% compared to DFA Short-Duration Real Return Portfolio (DFAIX) at 0.49%. This indicates that FPNIX's price experiences larger fluctuations and is considered to be riskier than DFAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPNIX | DFAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 0.49% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 0.75% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 1.07% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.41% | 3.18% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.88% | 2.56% | -0.68% |