RBSIX vs. FPFIX

Last updated Jun 4, 2026

RBSIX (RBC BlueBay Strategic Income Fund) and FPFIX (FPA Flexible Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 3 years, RBSIX returned 7.73%/yr vs 5.78%/yr for FPFIX. At a 0.11 correlation, their price movements are largely independent. RBSIX charges 0.63%/yr vs 0.51%/yr for FPFIX.

Performance

RBSIX vs. FPFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RBC BlueBay Strategic Income Fund (RBSIX) and FPA Flexible Fixed Income Fund (FPFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RBSIX achieves a 1.13% return, which is significantly higher than FPFIX's -0.11% return.

RBSIX

• 1D: -0.10%
• 1M: 0.37%
• YTD: 1.13%
• 6M: 1.57%
• 1Y: 5.74%
• 3Y*: 7.73%
• 5Y*: —
• 10Y*: —

FPFIX

• 1D: 0.00%
• 1M: 0.01%
• YTD: -0.11%
• 6M: 0.10%
• 1Y: 4.17%
• 3Y*: 5.78%
• 5Y*: 3.50%
• 10Y*: —

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

RBSIX vs. FPFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RBSIX RBC BlueBay Strategic Income Fund	1.13%	5.50%	9.33%	9.74%	0.35%	-0.21%
FPFIX FPA Flexible Fixed Income Fund	-0.11%	6.87%	5.28%	8.11%	-2.82%	0.14%

Correlation

The correlation between RBSIX and FPFIX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021	0.11

The correlation between RBSIX and FPFIX shifts across timeframes, from 0.11 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RBSIX vs. FPFIX — Risk / Return Rank

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

RBSIX

RBSIX Risk / Return Rank: 91
RBSIX Sharpe Ratio Rank: 98
RBSIX Sortino Ratio Rank: 98
RBSIX Omega Ratio Rank: 97
RBSIX Calmar Ratio Rank: 87
RBSIX Martin Ratio Rank: 76

FPFIX

FPFIX Risk / Return Rank: 31
FPFIX Sharpe Ratio Rank: 34
FPFIX Sortino Ratio Rank: 36
FPFIX Omega Ratio Rank: 38
FPFIX Calmar Ratio Rank: 27
FPFIX Martin Ratio Rank: 22

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.

RBSIX vs. FPFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC BlueBay Strategic Income Fund (RBSIX) 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.

	RBSIX	FPFIX	Difference
Sharpe ratio: Return per unit of total volatility	3.83	1.67	+2.16
Sortino ratio: Return per unit of downside risk	6.30	2.48	+3.82
Omega ratio: Gain probability vs. loss probability	1.97	1.33	+0.64
Calmar ratio: Return relative to maximum drawdown	4.22	1.95	+2.27
Martin ratio: Return relative to average drawdown	14.33	5.70	+8.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RBSIX vs. FPFIX - Sharpe Ratio Comparison

The current RBSIX Sharpe Ratio is 3.83, which is higher than the FPFIX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of RBSIX and FPFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RBSIX	FPFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.83	1.67	+2.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	1.76	-0.18

Drawdowns

RBSIX vs. FPFIX - Drawdown Comparison

The maximum RBSIX drawdown since its inception was -4.09%, roughly equal to the maximum FPFIX drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for RBSIX and FPFIX.

Drawdown Indicators

	RBSIX	FPFIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.09%	-4.11%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-1.37%	-2.10%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-4.09%	-2.10%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-4.11%	—
Current Drawdown Current decline from peak	-0.12%	-1.51%	+1.39%
Average Drawdown Average peak-to-trough decline	-0.78%	-0.59%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.72%	-0.32%

Volatility

RBSIX vs. FPFIX - Volatility Comparison

The current volatility for RBC BlueBay Strategic Income Fund (RBSIX) is 0.44%, while FPA Flexible Fixed Income Fund (FPFIX) has a volatility of 0.79%. This indicates that RBSIX experiences smaller price fluctuations and is considered to be less risky than FPFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RBSIX	FPFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.79%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	1.10%	1.75%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	1.51%	2.45%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	2.32%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	2.08%	+1.46%

RBSIX vs. FPFIX - Expense Ratio Comparison

RBSIX has a 0.63% expense ratio, which is higher than FPFIX's 0.51% expense ratio.

Dividends

RBSIX vs. FPFIX - Dividend Comparison

RBSIX's dividend yield for the trailing twelve months is around 5.83%, more than FPFIX's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FPFIX FPA Flexible Fixed Income Fund	3.74%	3.78%	4.76%	3.95%	2.92%	2.26%	3.00%	2.42%
RBSIX RBC BlueBay Strategic Income Fund	5.83%	5.31%	4.46%	7.65%	5.37%	0.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RBSIX and FPFIX in my portfolio?

RBSIX and FPFIX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RBSIX or FPFIX?

FPFIX has higher volatility (0.79%) compared to RBSIX (0.44%). In terms of maximum drawdown, RBSIX dropped -4.09% vs FPFIX's -4.11%.

Which has better risk-adjusted returns?

RBSIX currently has the higher Sharpe Ratio (3.83 vs 1.67), 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.