QRVLX Performance — FPA Queens Road Value Fund
Data updated: 2026-09-28
QRVLX returned +9.53% year to date and +16.31% over one year to May 2026. The annualised 3-year return is +17.38%. The fund trailed its US Large Value category average: $100 invested three years ago grew to $162, against $165 for the category, and to $116 over one year, against $124. Volatility over the past three years was 13.28% a year. In the 12 months to May 2026 the fund lost a net $404K, and assets reached $56.48M.
QRVLX Growth of $100
What $100 invested in FPA Queens Road Value Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Value category average over the same months.
| Period | QRVLX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $116 | $124 |
| 3 years (Jun 2023 – May 2026) | $162 | $165 |
QRVLX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.53% |
| 1 year | +16.31% |
| 3 years (annualised) | +17.38% |
QRVLX Annual Returns
Calendar-year total returns of FPA Queens Road Value Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +9.53% |
| 2025 | +6.05% |
| 2024 | +18.90% |
| 2023 (Jun–Dec) | +17.09% |
QRVLX 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 | +1.8% | +0.5% | −5.0% | +9.3% | +3.2% | — | — | — | — | — | — | — |
| 2025 | +2.2% | −0.4% | −3.9% | −1.2% | +3.4% | +5.8% | −0.9% | +0.6% | +3.7% | −1.4% | −0.7% | −0.8% |
| 2024 | +2.7% | +5.1% | +4.8% | −2.3% | +2.4% | −1.1% | +4.3% | +1.9% | +2.7% | −2.6% | +5.9% | −5.6% |
| 2023 | — | — | — | — | — | +7.9% | +2.3% | +0.2% | −5.2% | −2.1% | +9.4% | +4.3% |
QRVLX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 13.28%
- 3-year Sharpe ratio: 0.97 (vs 4.5% risk-free rate)
- Best month: +9.44% (Nov 2023)
- Worst month: −5.65% (Dec 2024)
QRVLX Fund Flows
Monthly money in and out of FPA Queens Road Value Fund, from SEC Form N-PORT.
- 12-month net flow: −$404K
- 12-month gross sales (incl. reinvestments): $10.4M
- Sales ÷ redemptions: 0.96×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.6M | $1.8M | −$235K |
| Apr 2026 | $134K | $463K | −$328K |
| Mar 2026 | $1.4M | $1.8M | −$411K |
| Feb 2026 | $613K | $497K | $116K |
| Jan 2026 | $3.0M | $794K | $2.2M |
| Dec 2025 | $1.5M | $1.5M | $42K |
| Nov 2025 | $109K | $675K | −$566K |
| Oct 2025 | $847K | $675K | $173K |
| Sep 2025 | $362K | $1.0M | −$653K |
| Aug 2025 | $222K | $704K | −$482K |
| Jul 2025 | $535K | $481K | $54K |
| Jun 2025 | $99K | $443K | −$344K |
QRVLX Assets Under Management
Net assets of FPA Queens Road Value Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $56.48M |
| 2026-02-28 | $53.71M |
| 2025-11-30 | $51.98M |
| 2025-08-31 | $52.27M |
| 2025-05-31 | $50.31M |
| 2025-02-28 | $51.19M |
| 2024-11-30 | $56.41M |
| 2024-08-31 | $48.83M |
| 2024-05-31 | $47.37M |
| 2024-02-29 | $39.47M |
| 2023-11-30 | $34.70M |
| 2023-08-31 | $34.16M |
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.