FPNIX vs. QRSVX
Compare and contrast key facts about FPA New Income Fund (FPNIX) and FPA Queens Road Small Cap Value Fund Investor Class (QRSVX).
FPNIX is managed by FPA. It was launched on Jul 11, 1984. QRSVX is a passively managed fund by FPA that tracks the performance of the Russell 2000 Value. It was launched on Jun 13, 2002.
Performance
FPNIX vs. QRSVX - Performance Comparison
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FPNIX vs. QRSVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | -0.16% | 6.71% | 4.58% | 6.78% | -3.10% | 0.84% | 0.14% |
QRSVX FPA Queens Road Small Cap Value Fund Investor Class | 6.07% | 13.37% | 10.72% | 16.04% | -9.14% | 23.16% | 2.50% |
Returns By Period
In the year-to-date period, FPNIX achieves a -0.16% return, which is significantly lower than QRSVX's 6.07% 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%
QRSVX
- 1D
- 2.23%
- 1M
- -4.48%
- YTD
- 6.07%
- 6M
- 5.67%
- 1Y
- 22.31%
- 3Y*
- 15.33%
- 5Y*
- 8.64%
- 10Y*
- —
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FPNIX vs. QRSVX - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is lower than QRSVX's 0.94% expense ratio.
Return for Risk
FPNIX vs. QRSVX — Risk / Return Rank
FPNIX
QRSVX
FPNIX vs. QRSVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and FPA Queens Road Small Cap Value Fund Investor Class (QRSVX). 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 | QRSVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.70 | 1.20 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.53 | 1.83 | +0.71 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.25 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.33 | 1.82 | +0.51 |
Martin ratioReturn relative to average drawdown | 10.08 | 7.65 | +2.43 |
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 | QRSVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 1.20 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.50 | +0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.65 | +0.37 |
Correlation
The correlation between FPNIX and QRSVX is 0.08, 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. QRSVX - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 3.81%, less than QRSVX's 4.19% 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% |
QRSVX FPA Queens Road Small Cap Value Fund Investor Class | 4.19% | 4.45% | 4.86% | 2.56% | 2.07% | 1.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FPNIX vs. QRSVX - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -22.95%, which is greater than QRSVX's maximum drawdown of -20.59%. Use the drawdown chart below to compare losses from any high point for FPNIX and QRSVX.
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Drawdown Indicators
| FPNIX | QRSVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.95% | -20.59% | -2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -12.93% | +10.96% |
Max Drawdown (5Y)Largest decline over 5 years | -4.67% | -20.59% | +15.92% |
Max Drawdown (10Y)Largest decline over 10 years | -4.67% | — | — |
Current DrawdownCurrent decline from peak | -1.48% | -5.01% | +3.53% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -5.03% | +3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 3.08% | -2.62% |
Volatility
FPNIX vs. QRSVX - Volatility Comparison
The current volatility for FPA New Income Fund (FPNIX) is 1.08%, while FPA Queens Road Small Cap Value Fund Investor Class (QRSVX) has a volatility of 4.86%. This indicates that FPNIX experiences smaller price fluctuations and is considered to be less risky than QRSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPNIX | QRSVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 4.86% | -3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 10.94% | -9.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 19.52% | -16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.41% | 17.46% | -15.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.88% | 17.55% | -15.67% |