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
296.3 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) | $296 |
| 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
| ANALOG DEVICES INC | 4.6 % |
| ALPHABET INC. CLASS C | 4.4 % |
| CITIGROUP INC | 4.0 % |
| META PLATFORMS INC | 3.9 % |
| TE CONNECTIVITY | 3.8 % |
| BECTON DICKINSON AND CO | 3.7 % |
| HEINEKEN HOLDING NV | 3.7 % |
| JDE PEET'S NV | 3.7 % |
| COMCAST CORP-CL A | 3.5 % |
| ALPHABET INC. CLASS A | 3.5 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 388 |
| Wgt avg mkt cap (mns) | $646,430 |
| Large cap (>$10bn) | 90.8% |
| Mid cap ($2-10bn) | 7.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 101.7% |
| Emerging mkts. | 3.2% |
Country Exposure
 |
UNITED STATES | 51.8 % |
 |
NETHERLANDS | 12.5 % |
 |
IRELAND | 8.2 % |
 |
SWITZERLAND | 5.4 % |
 |
FRANCE | 4.7 % |
 |
SOUTH KOREA | 3.2 % |
 |
JAPAN | 2.3 % |
 |
LUXEMBOURG | 2.0 % |
 |
GERMANY | 1.3 % |
 |
MEXICO | 0.8 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 22.5% | 22.5% | 18.2% | 21.2% | -- | -- | -- | 10.3% |
| Dividend Yield | 1.6% | 1.6% | 1.6% | 1.8% | -- | -- | -- | 1.5% |
| Total Returns | 24.1% | 24.1% | 19.8% | 23.0% | -- | -- | -- | 11.8% | Ann. Volatility | 19.2% | 19.2% | 16.9% | 16.3% | -- | -- | -- | 19.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 86% |
| MSCI EAFE | 1.00 | 74% |
| MSCI Emg Mkts | 0.86 | 62% |
Liquidity Measures
| Avg. volume (000) | 39 |
| ADV traded (mns) | $1 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.21% |
Technical Indicators
| 30d moving avg. (EMA) | $36.91 |
| Relative strength (RSI) | 54 |
| MACD/Signal | 0.23/0.25 |
| Bollinger Bands (Upper/Lower) | $37.64/$36.70 |
| Short interest (% of AUM) | 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 |
|---|---|---|---|---|
| LVDS | JPMorgan Fundamental Data Science Large Value ETF | 29.0% | 0 bp | +5.9% |
| EQTY | Kovitz Core Equity ETF | 22.1% | +50 bp | +4.2% |
| FEGE | First Eagle Global Equity ETF | 17.7% | +30 bp | +5.9% |
| SPXT | ProShares S&P 500 Ex-Technology ETF | 17.6% | -40 bp | +4.9% |
| JPEF | JPMorgan Equity Focus ETF | 16.5% | +1 bp | +3.9% |
| XLC | The Communication Services Select Sector SPDR Fund | 16.3% | -41 bp | +4.9% |
| VOOG | Vanguard S&P 500 Growth ETF | 16.3% | -42 bp | +3.3% |
| PRXG | Praxis Impact Large Cap Growth ETF | 16.3% | -13 bp | +2.8% |
| MODL | VictoryShares WestEnd U.S. Sector ETF | 16.2% | -7 bp | +4.0% |
| MAVF | Matrix Advisors Value ETF | 16.2% | +26 bp | +5.0% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 1/2/2026
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
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
5.2%
Cat. Avg
3.7%
ALTAR Score™ Calculation
Category Overview
There are 385 funds in the Global Equity category, with an average ALTAR Score™
of 3.7% and a standard deviation of
3.0%. FPAG's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places FPAG in the 68th 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