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RCTRX vs. FPFIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RCTRX vs. FPFIX

Last updated Jun 23, 2026

RCTRX (Regan Total Return Income Fund) and FPFIX (FPA Flexible Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 5 years, RCTRX returned 4.40%/yr vs 3.48%/yr for FPFIX. A 0.65 correlation means they provide meaningful diversification when combined. RCTRX charges 1.54%/yr vs 0.51%/yr for FPFIX.

Performance

RCTRX vs. FPFIX - Performance Comparison

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

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Returns By Period

In the year-to-date period, RCTRX achieves a 0.98% return, which is significantly higher than FPFIX's -0.11% return.

RCTRX

1D
0.00%
1M
0.69%
YTD
0.98%
6M
1.19%
1Y
4.83%
3Y*
6.04%
5Y*
4.40%
10Y*
—

FPFIX

1D
0.20%
1M
0.41%
YTD
-0.11%
6M
-0.01%
1Y
3.56%
3Y*
5.70%
5Y*
3.48%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

RCTRX vs. FPFIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
RCTRX
Regan Total Return Income Fund		0.98%6.56%6.81%7.29%-2.23%6.89%2.60%
FPFIX
FPA Flexible Fixed Income Fund		-0.11%6.87%5.28%8.11%-2.82%1.77%0.93%

Correlation

The correlation between RCTRX and FPFIX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2020

0.65

The correlation between RCTRX and FPFIX has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.

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Regan Total Return Income Fund

FPA Flexible Fixed Income Fund

Often compared with RCTRX:
RCTRX vs. AXSIXRCTRX vs. VTIRCTRX vs. APFPXRCTRX vs. TUIFXRCTRX vs. CBYYXRCTRX vs. AFLIXRCTRX vs. SUBFX
Often compared with FPFIX:
FPFIX vs. FPNIXFPFIX vs. FXAIXFPFIX vs. DODIXFPFIX vs. FADMXFPFIX vs. JPIEFPFIX vs. PMAIXFPFIX vs. RWDIX

Return for Risk

RCTRX vs. FPFIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RCTRX
RCTRX Risk / Return Rank: 8686
Overall Rank
RCTRX Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
RCTRX Sortino Ratio Rank: 9595
Sortino Ratio Rank
RCTRX Omega Ratio Rank: 9292
Omega Ratio Rank
RCTRX Calmar Ratio Rank: 8080
Calmar Ratio Rank
RCTRX Martin Ratio Rank: 7575
Martin Ratio Rank
FPFIX
FPFIX Risk / Return Rank: 2929
Overall Rank
FPFIX Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
FPFIX Sortino Ratio Rank: 3333
Sortino Ratio Rank
FPFIX Omega Ratio Rank: 3636
Omega Ratio Rank
FPFIX Calmar Ratio Rank: 2525
Calmar Ratio Rank
FPFIX Martin Ratio Rank: 1919
Martin Ratio Rank
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.

RCTRX vs. FPFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Total Return Income Fund (RCTRX) 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.

RCTRXFPFIXDifference
Sharpe ratioReturn per unit of total volatility
2.74
1.52

+1.22

Sortino ratioReturn per unit of downside risk
4.76
2.23

+2.53

Omega ratioGain probability vs. loss probability

1.66

1.30

+0.36

Calmar ratioReturn relative to maximum drawdown

3.44

1.76

+1.68

Martin ratioReturn relative to average drawdown

13.19

4.63

+8.56

RCTRX vs. FPFIX - Sharpe Ratio Comparison

The current RCTRX Sharpe Ratio is 2.74, which is higher than the FPFIX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of RCTRX 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.

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Drawdowns

RCTRX vs. FPFIX - Drawdown Comparison

The maximum RCTRX drawdown since its inception was -4.66%, which is greater than FPFIX's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for RCTRX and FPFIX.

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Drawdown Indicators

RCTRXFPFIXDifference

Max Drawdown

Largest peak-to-trough decline

-4.66%

-4.11%

-0.55%

Max Drawdown (1Y)

Largest decline over 1 year

-1.44%

-2.10%

+0.66%

Max Drawdown (3Y)

Largest decline over 3 years

-1.96%

-2.10%

+0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-4.66%

-4.11%

-0.55%

Current Drawdown

Current decline from peak

-0.11%

-1.51%

+1.40%

Average Drawdown

Average peak-to-trough decline

-0.57%

-0.60%

+0.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.37%

0.79%

-0.42%

Volatility

RCTRX vs. FPFIX - Volatility Comparison

The current volatility for Regan Total Return Income Fund (RCTRX) is 0.64%, while FPA Flexible Fixed Income Fund (FPFIX) has a volatility of 0.80%. This indicates that RCTRX 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.

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Volatility by Period

RCTRXFPFIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.64%

0.80%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

1.40%

1.83%

-0.43%

Volatility (1Y)

Calculated over the trailing 1-year period

1.81%

2.42%

-0.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.26%

2.34%

-0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.20%

2.09%

+0.11%

RCTRX vs. FPFIX - Expense Ratio Comparison

RCTRX has a 1.54% expense ratio, which is higher than FPFIX's 0.51% expense ratio.

Dividends

RCTRX vs. FPFIX - Dividend Comparison

RCTRX's dividend yield for the trailing twelve months is around 5.81%, more than FPFIX's 3.74% yield.

PositionTTM2025202420232022202120202019
FPFIX
FPA Flexible Fixed Income Fund		3.74%3.78%4.76%3.95%2.92%2.26%3.00%2.42%
RCTRX
Regan Total Return Income Fund		5.81%4.40%5.79%5.98%5.28%10.59%4.98%0.00%

Frequently Asked Questions

RCTRX and FPFIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FPFIX has higher volatility (0.80%) compared to RCTRX (0.64%). In terms of maximum drawdown, RCTRX dropped -4.66% vs FPFIX's -4.11%.

RCTRX currently has the higher Sharpe Ratio (2.74 vs 1.52), 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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