FFIAX Performance — FPA Flexible Fixed Income Fund, Advisor Class
Data updated: 2026-08-26
FFIAX returned +0.39% year to date and +3.33% over one year to Jun 2026. Annualised returns are +6.04% over 3 years and +3.77% over 5 years. The fund trailed its Short-Term Securitized Bond category average: $100 invested three years ago grew to $119, against $120 for the category, and to $103 over one year, against $105. Volatility over the past three years was 2.69% a year. In the 12 months to Jun 2026 the fund took in a net $604.1M, and assets reached $2.16B.
FFIAX Growth of $100
What $100 invested in FPA Flexible Fixed Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Securitized Bond category average over the same months.
| Period | FFIAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $105 |
| 3 years (Jul 2023 – Jun 2026) | $119 | $120 |
| 5 years (Jul 2021 – Jun 2026) | $120 | $117 |
| Since data start (Apr 2021 – Jun 2026) | $121 | $118 |
FFIAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.39% |
| 1 year | +3.33% |
| 3 years (annualised) | +6.04% |
| 5 years (annualised) | +3.77% |
FFIAX Annual Returns
Calendar-year total returns of FPA Flexible Fixed Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +0.39% |
| 2025 | +7.22% |
| 2024 | +5.16% |
| 2023 | +8.86% |
| 2022 | −2.79% |
| 2021 (Apr–Dec) | +0.85% |
FFIAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.3% | +1.1% | −1.1% | +0.1% | −0.1% | +0.1% | — | — | — | — | — | — |
| 2025 | +0.7% | +1.4% | +0.2% | +0.9% | −0.2% | +1.0% | −0.1% | +1.3% | +0.5% | +0.4% | +0.7% | +0.1% |
| 2024 | +0.6% | −0.2% | +0.7% | −0.9% | +1.3% | +0.8% | +1.7% | +1.1% | +1.0% | −1.3% | +0.8% | −0.5% |
| 2023 | +1.8% | −0.2% | +0.6% | +0.5% | +0.3% | +0.4% | +0.6% | +0.6% | −0.1% | 0.0% | +1.9% | +2.1% |
| 2022 | −0.2% | −0.5% | −0.8% | −0.5% | −0.2% | −0.7% | +0.7% | −0.4% | −1.0% | −0.5% | +0.9% | +0.4% |
| 2021 | — | — | — | +0.2% | +0.2% | +0.1% | +0.1% | +0.2% | 0.0% | −0.1% | +0.1% | +0.1% |
FFIAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 2.69%
- 3-year Sharpe ratio: 0.57 (vs 4.5% risk-free rate)
- Best month: +2.14% (Dec 2023)
- Worst month: −1.28% (Oct 2024)
FFIAX Fund Flows
Monthly money in and out of FPA Flexible Fixed Income Fund, from SEC Form N-PORT.
- 12-month net flow: $604.1M
- 12-month gross sales (incl. reinvestments): $955.5M
- Sales ÷ redemptions: 2.72×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $58.1M | $42.1M | $16.1M |
| May 2026 | $85.7M | $32.5M | $53.2M |
| Apr 2026 | $52.4M | $29.0M | $23.4M |
| Mar 2026 | $84.6M | $31.0M | $53.6M |
| Feb 2026 | $82.8M | $19.7M | $63.1M |
| Jan 2026 | $81.3M | $32.4M | $49.0M |
| Dec 2025 | $104.4M | $24.9M | $79.5M |
| Nov 2025 | $72.8M | $30.8M | $42.0M |
| Oct 2025 | $71.8M | $30.9M | $40.9M |
| Sep 2025 | $49.6M | $33.6M | $16.0M |
| Aug 2025 | $150.2M | $19.3M | $131.0M |
| Jul 2025 | $61.6M | $25.3M | $36.3M |
FFIAX Assets Under Management
Net assets of FPA Flexible Fixed Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $2.16B |
| 2026-03-31 | $2.09B |
| 2025-12-31 | $1.94B |
| 2025-09-30 | $1.78B |
| 2025-06-30 | $1.58B |
| 2025-03-31 | $1.49B |
| 2024-12-31 | $1.31B |
| 2024-09-30 | $1.28B |
| 2024-06-30 | $1.15B |
| 2024-03-31 | $1.09B |
| 2023-12-31 | $955.93M |
| 2023-09-30 | $831.84M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.