QFITX vs. FPFIX
QFITX (Quantified Tactical Fixed Income Fund) and FPFIX (FPA Flexible Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 5 years, QFITX returned -1.30%/yr vs 3.44%/yr for FPFIX. At a 0.28 correlation, their price movements are largely independent. QFITX charges 1.56%/yr vs 0.51%/yr for FPFIX.
Performance
QFITX vs. FPFIX - Performance Comparison
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Returns By Period
In the year-to-date period, QFITX achieves a -4.59% return, which is significantly lower than FPFIX's -0.30% return.
QFITX
- 1D
- 0.00%
- 1M
- -0.51%
- YTD
- -4.59%
- 6M
- -4.52%
- 1Y
- -6.65%
- 3Y*
- -6.12%
- 5Y*
- -1.30%
- 10Y*
- —
FPFIX
- 1D
- -0.20%
- 1M
- 0.21%
- YTD
- -0.30%
- 6M
- -0.11%
- 1Y
- 3.16%
- 3Y*
- 5.60%
- 5Y*
- 3.44%
- 10Y*
- —
QFITX vs. FPFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QFITX Quantified Tactical Fixed Income Fund | -4.59% | -7.64% | -1.03% | -6.54% | -22.87% | 36.77% | 10.36% | 2.31% |
FPFIX FPA Flexible Fixed Income Fund | -0.30% | 6.87% | 5.28% | 8.11% | -2.82% | 1.77% | 4.71% | 0.77% |
Correlation
The correlation between QFITX and FPFIX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019 | 0.28 |
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Return for Risk
QFITX vs. FPFIX — Risk / Return Rank
QFITX
FPFIX
QFITX vs. FPFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quantified Tactical Fixed Income Fund (QFITX) and FPA Flexible Fixed Income Fund (FPFIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QFITX | FPFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.52 | ||
| Sortino ratioReturn per unit of downside risk | -3.53 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.27 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 1.61 | -2.32 |
| Martin ratioReturn relative to average drawdown | -1.46 | 4.21 | -5.67 |
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Drawdowns
QFITX vs. FPFIX - Drawdown Comparison
The maximum QFITX drawdown since its inception was -38.03%, which is greater than FPFIX's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for QFITX and FPFIX.
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Drawdown Indicators
| QFITX | FPFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.03% | -4.11% | -33.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -2.10% | -6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -2.10% | -18.54% |
Max Drawdown (5Y)Largest decline over 5 years | -38.03% | -4.11% | -33.92% |
Current DrawdownCurrent decline from peak | -37.67% | -1.70% | -35.97% |
Average DrawdownAverage peak-to-trough decline | -19.36% | -0.60% | -18.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 0.80% | +3.38% |
Volatility
QFITX vs. FPFIX - Volatility Comparison
Quantified Tactical Fixed Income Fund (QFITX) has a higher volatility of 1.10% compared to FPA Flexible Fixed Income Fund (FPFIX) at 0.78%. This indicates that QFITX's price experiences larger fluctuations and is considered to be riskier than FPFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QFITX | FPFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.78% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 1.84% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 2.43% | +3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.20% | 2.34% | +18.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.20% | 2.09% | +18.11% |
QFITX vs. FPFIX - Expense Ratio Comparison
QFITX has a 1.56% expense ratio, which is higher than FPFIX's 0.51% expense ratio.
Dividends
QFITX vs. FPFIX - Dividend Comparison
QFITX's dividend yield for the trailing twelve months is around 16.08%, more than FPFIX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FPFIX FPA Flexible Fixed Income Fund | 3.75% | 3.78% | 4.76% | 3.95% | 2.92% | 2.26% | 3.00% | 2.42% |
QFITX Quantified Tactical Fixed Income Fund | 16.08% | 12.72% | 3.70% | 0.08% | 0.15% | 29.15% | 2.12% | 4.28% |
Frequently Asked Questions
QFITX and FPFIX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QFITX has higher volatility (1.10%) compared to FPFIX (0.78%). In terms of maximum drawdown, QFITX dropped -38.03% vs FPFIX's -4.11%.
FPFIX currently has the higher Sharpe Ratio (1.39 vs -1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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