FPIOX Performance — Strategic Advisers Income Opportunities Fund
Data updated: 2026-07-24
FPIOX returned +2.49% year to date and +9.24% over one year to May 2026. Annualised returns are +9.63% over 3 years and +4.59% over 5 years. The fund trailed its Moderate Allocation category average: $100 invested three years ago grew to $132, against $144 for the category, and to $109 over one year, against $119. Volatility over the past three years was 4.28% a year. In the 12 months to May 2026 the fund took in a net $6.9M, and assets reached $1.80B.
FPIOX Growth of $100
What $100 invested in Strategic Advisers Income Opportunities Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Moderate Allocation category average over the same months.
| Period | FPIOX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $109 | $119 |
| 3 years (Jun 2023 – May 2026) | $132 | $144 |
| 5 years (Jun 2021 – May 2026) | $125 | $135 |
| Since data start (Sep 2019 – May 2026) | $139 | $169 |
FPIOX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.49% |
| 1 year | +9.24% |
| 3 years (annualised) | +9.63% |
| 5 years (annualised) | +4.59% |
FPIOX Annual Returns
Calendar-year total returns of Strategic Advisers Income Opportunities Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.49% |
| 2025 | +9.36% |
| 2024 | +8.27% |
| 2023 | +12.27% |
| 2022 | −10.74% |
| 2021 | +5.52% |
| 2020 | +5.14% |
| 2019 (Sep–Dec) | +3.29% |
FPIOX 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 | +0.6% | +0.3% | −1.1% | +2.0% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +1.4% | +0.5% | −1.2% | 0.0% | +1.9% | +2.2% | +0.6% | +1.3% | +0.8% | +0.3% | +0.3% | +0.9% |
| 2024 | +0.1% | +0.4% | +1.2% | −1.0% | +1.4% | +0.9% | +1.6% | +1.6% | +1.5% | −0.5% | +1.3% | −0.5% |
| 2023 | +3.8% | −1.3% | +1.0% | +1.0% | −1.1% | +1.6% | +1.5% | 0.0% | −1.2% | −1.3% | +4.3% | +3.5% |
| 2022 | −2.5% | −0.8% | −0.8% | −3.3% | 0.0% | −6.6% | +5.5% | −1.9% | −4.2% | +2.7% | +2.0% | −0.9% |
| 2021 | +0.2% | +0.5% | +0.3% | +1.2% | +0.4% | +1.3% | +0.3% | +0.6% | 0.0% | −0.1% | −1.1% | +2.0% |
| 2020 | −0.2% | −1.7% | −11.9% | +4.5% | +4.3% | +0.6% | +4.4% | +1.1% | −0.8% | +0.2% | +3.9% | +1.9% |
| 2019 | — | — | — | — | — | — | — | — | +0.5% | +0.1% | +0.5% | +2.1% |
FPIOX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.28%
- 3-year Sharpe ratio: 1.20 (vs 4.5% risk-free rate)
- Best month: +4.26% (Nov 2023)
- Worst month: −1.28% (Oct 2023)
FPIOX Fund Flows
Monthly money in and out of Strategic Advisers Income Opportunities Fund, from SEC Form N-PORT.
- 12-month net flow: $6.9M
- 12-month gross sales (incl. reinvestments): $855.3M
- Sales ÷ redemptions: 1.01×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $78.5M | $36.3M | $42.2M |
| Apr 2026 | $238.8M | $203.4M | $35.4M |
| Mar 2026 | $28.9M | $58.2M | −$29.3M |
| Feb 2026 | $53.9M | $39.1M | $14.8M |
| Jan 2026 | $94.8M | $77.0M | $17.8M |
| Dec 2025 | $116.7M | $208.5M | −$91.8M |
| Nov 2025 | $32.6M | $39.9M | −$7.2M |
| Oct 2025 | $31.3M | $36.0M | −$4.8M |
| Sep 2025 | $37.8M | $33.7M | $4.1M |
| Aug 2025 | $37.8M | $36.2M | $1.5M |
| Jul 2025 | $28.4M | $35.9M | −$7.5M |
| Jun 2025 | $75.8M | $44.2M | $31.5M |
FPIOX Assets Under Management
Net assets of Strategic Advisers Income Opportunities Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.80B |
| 2026-02-28 | $1.75B |
| 2025-11-30 | $1.81B |
| 2025-08-31 | $1.82B |
| 2025-05-31 | $1.75B |
| 2025-02-28 | $1.44B |
| 2024-11-30 | $1.19B |
| 2024-08-31 | $1.34B |
| 2024-05-31 | $1.36B |
| 2024-02-29 | $1.43B |
| 2023-11-30 | $1.45B |
| 2023-08-31 | $1.53B |
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.