FPNIX vs. STBFX

Last updated Jun 4, 2026

FPNIX (FPA New Income Fund) and STBFX (Sextant Short Term Bond Fund) are both Short-Term Bond funds. At a 0.36 correlation, their price movements are largely independent. FPNIX charges 0.45%/yr vs 0.60%/yr for STBFX.

Performance

FPNIX vs. STBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FPA New Income Fund (FPNIX) and Sextant Short Term Bond Fund (STBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FPNIX

• 1D: 0.00%
• 1M: 0.12%
• YTD: -0.02%
• 6M: 0.14%
• 1Y: 4.16%
• 3Y*: 5.34%
• 5Y*: 2.94%
• 10Y*: 2.83%

STBFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FPNIX vs. STBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPNIX FPA New Income Fund	-0.02%	6.71%	4.58%	6.78%	-3.10%	0.84%	2.51%	3.81%	2.30%	2.67%
STBFX Sextant Short Term Bond Fund	0.28%	4.92%	3.87%	3.79%	-4.16%	-1.09%	3.42%	4.03%	1.09%	0.50%

Correlation

The correlation between FPNIX and STBFX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 3, 1996	0.36

The correlation between FPNIX and STBFX shifts across timeframes, from 0.36 (all time) to 0.57 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FPNIX vs. STBFX — Risk / Return Rank

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

FPNIX

FPNIX Risk / Return Rank: 36
FPNIX Sharpe Ratio Rank: 38
FPNIX Sortino Ratio Rank: 40
FPNIX Omega Ratio Rank: 43
FPNIX Calmar Ratio Rank: 32
FPNIX Martin Ratio Rank: 25

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.

FPNIX vs. STBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and Sextant Short Term Bond Fund (STBFX). 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	STBFX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.65	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.12	—	—
Martin ratio: Return relative to average drawdown	6.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FPNIX	STBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	—	—

Drawdowns

Drawdown Indicators

	FPNIX	STBFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.95%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-4.67%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-4.67%	—	—
Current Drawdown Current decline from peak	-1.35%	—	—
Average Drawdown Average peak-to-trough decline	-1.86%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	—	—

Volatility

Volatility by Period

	FPNIX	STBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.44%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.90%	—	—

FPNIX vs. STBFX - Expense Ratio Comparison

FPNIX has a 0.45% expense ratio, which is lower than STBFX's 0.60% expense ratio.

Dividends

FPNIX vs. STBFX - Dividend Comparison

FPNIX's dividend yield for the trailing twelve months is around 3.82%, more than STBFX's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPNIX FPA New Income Fund	3.82%	3.36%	4.39%	3.37%	2.13%	1.24%	2.17%	2.63%	3.10%	2.84%	2.31%	1.87%
STBFX Sextant Short Term Bond Fund	2.61%	3.17%	2.77%	1.84%	1.04%	1.07%	1.60%	1.75%	1.47%	1.30%	1.06%	1.07%

Frequently Asked Questions

Can I hold both FPNIX and STBFX in my portfolio?

FPNIX and STBFX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.