Correlation
The correlation between FPNIX and IGSB is -0.09. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
FPNIX vs. IGSB
Compare and contrast key facts about FPA New Income Fund (FPNIX) and iShares Short-Term Corporate Bond ETF (IGSB).
FPNIX is managed by FPA. It was launched on Jul 11, 1984. IGSB is a passively managed fund by iShares that tracks the performance of the ICE BofAML 1-5 Year US Corporate Index. It was launched on Jan 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FPNIX or IGSB.
Performance
FPNIX vs. IGSB - Performance Comparison
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Key characteristics
FPNIX:
2.24
IGSB:
2.93
FPNIX:
3.39
IGSB:
4.29
FPNIX:
1.43
IGSB:
1.59
FPNIX:
3.37
IGSB:
5.23
FPNIX:
7.86
IGSB:
15.27
FPNIX:
0.82%
IGSB:
0.46%
FPNIX:
3.03%
IGSB:
2.46%
FPNIX:
-5.13%
IGSB:
-13.38%
FPNIX:
-0.70%
IGSB:
0.00%
Returns By Period
The year-to-date returns for both investments are quite close, with FPNIX having a 2.72% return and IGSB slightly higher at 2.79%. Over the past 10 years, FPNIX has outperformed IGSB with an annualized return of 2.57%, while IGSB has yielded a comparatively lower 2.41% annualized return.
FPNIX
2.72%
-0.50%
2.45%
6.75%
4.72%
2.96%
2.57%
IGSB
2.79%
0.12%
2.83%
7.16%
4.13%
2.09%
2.41%
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FPNIX vs. IGSB - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is higher than IGSB's 0.06% expense ratio.
Risk-Adjusted Performance
FPNIX vs. IGSB — Risk-Adjusted Performance Rank
FPNIX
IGSB
FPNIX vs. IGSB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and iShares Short-Term Corporate Bond ETF (IGSB). 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.
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Dividends
FPNIX vs. IGSB - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 3.96%, less than IGSB's 4.19% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | 3.96% | 4.39% | 4.39% | 2.12% | 1.21% | 2.18% | 2.64% | 3.10% | 2.84% | 2.31% | 1.87% | 2.82% |
IGSB iShares Short-Term Corporate Bond ETF | 4.19% | 4.02% | 3.26% | 2.07% | 1.82% | 2.36% | 3.06% | 2.46% | 1.65% | 1.45% | 1.18% | 0.94% |
Drawdowns
FPNIX vs. IGSB - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -5.13%, smaller than the maximum IGSB drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for FPNIX and IGSB.
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Volatility
FPNIX vs. IGSB - Volatility Comparison
FPA New Income Fund (FPNIX) has a higher volatility of 0.85% compared to iShares Short-Term Corporate Bond ETF (IGSB) at 0.69%. This indicates that FPNIX's price experiences larger fluctuations and is considered to be riskier than IGSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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