FPAG
FPA Global Equity ETF
FPAG actively selects global large- and midcap stocks offered at a substantial discount relative to their intrinsic value and have a favorable outlook for growth
Global
EQUITY
Active
MANAGEMENT STYLE
173.3 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | First Pacific Advisors LP |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 17, 2021 |
| Assets (mns) | $173 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| HOLCIM LTD-REG | 6.5 % |
| ALPHABET INC. CLASS A | 6.2 % |
| ANALOG DEVICES INC | 5.8 % |
| META PLATFORMS INC | 5.6 % |
| TE CONNECTIVITY | 5.1 % |
| CITIGROUP INC | 5.1 % |
| COMCAST CORP-CL A | 4.9 % |
| INTL FLAVORS & FRAGRANCES | 4.5 % |
| ALPHABET INC. CLASS C | 4.1 % |
| WELLS FARGO & CO | 3.7 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 381 |
| Wgt avg mkt cap (mns) | $460,892 |
| Large cap (>$10bn) | 98.2% |
| Mid cap ($2-10bn) | 1.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 97.2% |
| Emerging mkts. | 2.8% |
Country Exposure
 |
UNITED STATES | 58.3 % |
 |
SWITZERLAND | 15.7 % |
 |
NETHERLANDS | 8.8 % |
 |
IRELAND | 4.4 % |
 |
FRANCE | 2.9 % |
 |
BRITAIN | 2.9 % |
 |
SOUTH KOREA | 2.8 % |
 |
JAPAN | 2.6 % |
 |
BELGIUM | 0.6 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.2% | 35.0% | 27.0% | -- | -- | -- | 10.9% | Volatility | 14.5% | 14.4% | 16.0% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.02 | 86% |
| MSCI EAFE | 1.02 | 87% |
| MSCI Emg Mkts | 0.86 | 64% |
Liquidity Measures
| Avg. volume (000) | 49 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.29% |
| ADV of underlying (mns) | $46,403 |
Technical Indicators
| Recent close | $30.81 |
| 30d moving avg. | $30.79 |
| Annualized volatility | 19.5% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FPAG |
Expenses vs. FPAG |
ALTAR Score™ vs. FPAG |
|---|---|---|---|---|
| XLC | Communication Services Select Sector SPDR Fund | 23.6% | -40 bp | +0.1% |
| IXP | iShares Global Comm Services ETF | 23.0% | -7 bp | -0.4% |
| FCOM | Fidelity MSCI Communication Services Index ETF | 22.9% | -41 bp | -1.0% |
| VOX | Vanguard Communication Services ETF | 22.3% | -39 bp | -1.1% |
| FDCF | Fidelity Disruptive Communications ETF | 20.3% | +1 bp | -2.9% |
| FDN | First Trust Dow Jones Internet Index Fund | 19.2% | +3 bp | -2.2% |
| FDND | FT Vest Dow Jones Internet & Target Income ETF | 19.2% | +26 bp | -2.5% |
| FBCG | Fidelity Blue Chip Growth ETF | 18.5% | +10 bp | -2.6% |
| QTOP | iShares Nasdaq Top 30 Stocks ETF | 18.0% | -29 bp | -0.8% |
| FFOG | Franklin Focused Growth ETF FOCUSED GROWTH ETF | 17.7% | +12 bp | -2.6% |
Risk and Returns: FPAG vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FPAG
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
FPAG
5.4%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 376 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. FPAG's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places FPAG in the 61st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FPAGSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| FPAG (49 bp) Percentile rank | 22 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FPAG | 49.0 | 28.8 | 77.8 |
| Peer Avg. | 74.7 | 39.0 | 113.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .