FPA Global Equity ETF (FPAG) Performance
FPAG total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.2% since Dec 31, 2025
- 1 year
- +16.6% total return
- 3 years
- +23.6% a year
- Since first price
- +12.8% a year since 2021
FPAG trailing returns vs AGG, TLT, SPY
| Period | FPAG total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +1.1% | +0.9% | +1.5% | −1.0% |
| 3 months | +5.1% | +4.9% | −0.4% | −1.0% | +3.2% |
| 6 months | +8.7% | +8.1% | −1.5% | −3.8% | +7.8% |
| YTD | +13.2% | +12.6% | −1.0% | −3.4% | +12.3% |
| 1 year | +16.6% | +15.0% | −1.1% | −6.9% | +14.4% |
| 3 years | +88.8%+23.6%/yr | +80.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionDec 17, 2021 | +79.5%+12.8%/yr | +67.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FPAG vs AGG
From Dec 17, 2021: FPAG grew to $17,947, AGG to $9,847.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FPAG returns by calendar year
3 of 4 full years positive. Best 2023 (+29.5%), worst 2022 (−17.9%). 2026 is year to date.
FPAG annual returns table
| Year | FPAG | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +13.2% | −12.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +25.2% | −18.1% | +7.2% | +4.3% | +17.7% |
| 2024 | +15.6% | −8.2% | +1.3% | −8.1% | +24.9% |
| 2023 | +29.5% | −11.8% | +5.7% | +2.8% | +26.2% |
| 2022 | −17.9% | −28.4% | −13.0% | −31.2% | −18.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FPAG largest drawdowns
Now 2.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 12, 2022 | −28.4% | Oct 11, 2022 | Jul 28, 2023 | 9 months | 1.5 years |
| Feb 18, 2025 | −18.1% | Apr 8, 2025 | Jun 4, 2025 | 49 days | 3 months |
| Feb 20, 2026 | −12.1% | Mar 27, 2026 | May 28, 2026 | 35 days | 3 months |
| Jul 28, 2023 | −11.8% | Oct 27, 2023 | Dec 11, 2023 | 3 months | 4 months |
| Jul 16, 2024 | −8.2% | Aug 5, 2024 | Sep 26, 2024 | 20 days | 2 months |
| Aug 26, 2026 | −5.8% | Oct 1, 2026 | not yet | 36 days | 58 days so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
FPAG risk statistics
| Statistic | 3 years | Since 2021 |
|---|---|---|
| Annualized return | +21.6% | +11.9% |
| Volatility (annualized) | 13.1% | 17.0% |
| Sharpe ratio | 1.24 | 0.53 |
| Sortino ratio | 2.16 | 0.81 |
| Best month | +9.5% | +11.3% |
| Worst month | −8.7% | −10.3% |
| Best 12 months | +35.0% | +35.0% |
| Worst 12 months | +5.9% | −17.9% |
| Positive months | 75% | 65% |
| Beta vs S&P 500 | 0.90 | — |
| Correlation with S&P 500 | 0.85 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FPAG rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 47 | −17.9% | +20.1% | +35.0% | 91% |
| 3-year (a year) | 23 | +7.2% | +21.0% | +26.1% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
FPAG performance overview
FPA Global Equity ETF (FPAG) returned +16.6% over the past year, with distributions reinvested. Since its first recorded price in 2021 it has returned +12.8% a year, turning $10,000 into about $17,947. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −28.4%, from Jan 12, 2022 to Oct 11, 2022, and it took 10 months to get back to the old high. FPAG finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+29.5%) and the worst 2022 (−17.9%). Volatility has been 17.0% a year.
Related: FPAG chart, FPAG holdings, FPAG dividends, FPAG bond profile. See the FPAG overview for the latest quote and fund facts.
FPAG performance FAQ
What is the FPAG return over the past year?
FPAG returned +16.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.0%.
How much would $10,000 invested in FPAG be worth?
$10,000 invested in FPAG at its first recorded close on December 17, 2021 would be worth about $17,947 on October 23, 2026 with distributions reinvested.
What was the worst year for FPAG?
The worst calendar year was 2022, with a total return of −17.9%. The best was 2023 at +29.5%.
What is the biggest drawdown of FPAG?
The largest peak-to-trough decline was −28.4% between January 12, 2022 and October 11, 2022. It recovered to the old high on July 28, 2023, 10 months after the bottom.
How volatile is FPAG?
Over the past 3 years FPAG had an annualized volatility of 13.1% and a Sharpe ratio of 1.24 (excess return over 1–3 month T-bills per unit of risk).