QRSIX Performance — FPA Queens Road Small Cap Value Fund, Institutional Class
Data updated: 2026-09-28
QRSIX returned +22.05% year to date and +35.76% over one year to May 2026. The annualised 3-year return is +21.97%. The fund beat its US Small Blend category average: $100 invested three years ago grew to $181, against $160 for the category, and to $136 over one year, against $132. Volatility over the past three years was 16.03% a year. In the 12 months to May 2026 the fund took in a net $146.0M, and assets reached $1.35B.
QRSIX Growth of $100
What $100 invested in FPA Queens Road Small Cap Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | QRSIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $136 | $132 |
| 3 years (Jun 2023 – May 2026) | $181 | $160 |
QRSIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +22.05% |
| 1 year | +35.76% |
| 3 years (annualised) | +21.97% |
QRSIX Annual Returns
Calendar-year total returns of FPA Queens Road Small Cap Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +22.05% |
| 2025 | +13.49% |
| 2024 | +10.94% |
| 2023 (Jun–Dec) | +18.09% |
QRSIX 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 | +5.6% | +4.5% | −3.9% | +10.5% | +4.1% | — | — | — | — | — | — | — |
| 2025 | +4.3% | −2.7% | −3.9% | −2.3% | +7.1% | +3.8% | +2.8% | +4.3% | +0.2% | −2.3% | +3.0% | −1.0% |
| 2024 | −1.7% | +3.6% | +1.6% | −5.0% | +5.8% | −3.1% | +7.3% | +0.2% | 0.0% | −0.6% | +9.8% | −6.2% |
| 2023 | — | — | — | — | — | +6.7% | +3.6% | −1.6% | −4.1% | −3.9% | +7.5% | +9.5% |
QRSIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 16.03%
- 3-year Sharpe ratio: 1.09 (vs 4.5% risk-free rate)
- Best month: +10.53% (Apr 2026)
- Worst month: −6.20% (Dec 2024)
QRSIX Fund Flows
Monthly money in and out of FPA Queens Road Small Cap Value Fund, from SEC Form N-PORT.
- 12-month net flow: $146.0M
- 12-month gross sales (incl. reinvestments): $382.0M
- Sales ÷ redemptions: 1.62×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $21.8M | $12.6M | $9.3M |
| Apr 2026 | $21.6M | $11.2M | $10.4M |
| Mar 2026 | $37.0M | $20.7M | $16.3M |
| Feb 2026 | $75.7M | $71.7M | $4.0M |
| Jan 2026 | $32.2M | $19.8M | $12.4M |
| Dec 2025 | $59.4M | $19.4M | $40.0M |
| Nov 2025 | $23.1M | $22.7M | $377K |
| Oct 2025 | $15.4M | $13.8M | $1.6M |
| Sep 2025 | $32.9M | $14.8M | $18.1M |
| Aug 2025 | $33.7M | $15.6M | $18.2M |
| Jul 2025 | $16.5M | $6.4M | $10.2M |
| Jun 2025 | $12.6M | $7.3M | $5.3M |
QRSIX Assets Under Management
Net assets of FPA Queens Road Small Cap Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.35B |
| 2026-02-28 | $1.19B |
| 2025-11-30 | $1.08B |
| 2025-08-31 | $1.05B |
| 2025-05-31 | $909.15M |
| 2025-02-28 | $845.13M |
| 2024-11-30 | $862.75M |
| 2024-08-31 | $758.41M |
| 2024-05-31 | $724.88M |
| 2024-02-29 | $697.15M |
| 2023-11-30 | $638.74M |
| 2023-08-31 | $651.54M |
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.