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Launched

Investment Managers Series Trust III - FPA Global Allocation ETF

FPAACboeD

$24.99+0.06 (+0.24%)

As of Oct 13, 2026, 10:52 AM

D27/ 100

Rank 42 of 46 in Tactical Allocation

D27/100Rank 42 of 46inTactical Allocation
Intraday session: up, 3 prints from 24.93 to 24.99. Range 24.93 to 24.99. Use the arrow keys to read each point.24.9424.9524.9624.9724.9810 AM12 PM2 PM4 PM
Expense ratio
1.33%
Fund size
$28M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
5
Avg volume · 30D
0M sh
NAV per share
$24.95
52W range
low $24.41high $27.82
Launched

The ETF.net FPAA Grade

D

Score 27 out of 100

Category
Tactical Allocation⁠
Rank
42 of 46
Six-pillar profile for FPAA. Scores out of 100: Cost 13, Risk 63, Mission 10, Tradability 48, Holdings 34, Durability 30. Strongest: Risk (63). Weakest: Mission (10). Leans toward Risk.

Score 27 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F13 out of 100
    Rank 40 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    F10 out of 100
    Rank 27 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 12 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C48 out of 100
    Rank 27 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D34 out of 100
    Rank 39 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 40 of 46

FPAA Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
5
Top-10 weight
100%
Largest holding
FPAG62.9%

Sectors

  • Health Care16.8%
  • Communication14.3%
  • Materials13.7%
  • Technology13.2%
  • Industrials12.4%
  • Consumer Discretionary9.9%
  • Financials9.8%
  • Consumer Staples8.8%
  • Energy1.2%
  • Real Estate0.0%
  • Utilities0.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001FPAGFpa Global Equity Etf New62.93%420,129$17M1
002FPASFpa Short Duration Govt Etf33.47%386,187$9M1
003HYBBIshares Bb Rated Corp Bond1.65%10,055$454K1
004VTPVngrd Totl Inflt Pro Sec Etf1.52%5,773$418K1
005—Cashusd0.59%161,773$162K51

Showing 1–5 of 5 holdings

FPAA Performance

Launched Jun 2, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FPAA$10,003
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. FPAA $10,003. SPY $10,332. Use the arrow keys to read each point.$9,606$10,013$10,419Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FPAA. Periods over one year show the average yearly return.
PeriodFPAA
Year to dateFund launched this year—
1 month−1.2%
3 months0.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FPAA
YearReturn barFPAA
2026 YTD+1.9%

History from Jun 8, 2026

FPAA in the news

Filtered to FPAA · Tactical Allocation

FPAA Dividends

Last payment
$0.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2026

One bar per payment. 1 payment in 2026 YTD. Sep 25, 2026 $0.13. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 25, 2026Sep 29, 2026$0.13

FPAA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.93
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FPAA Cost

Expense ratio1.33%
  • The middle half of Tactical Allocation funds
  • Median 0.91%

39 of the 46 Tactical Allocation funds charge less.

FPAA costs $133.00 a year on $10,000. The median Tactical Allocation fund costs $90.50.

Other funds in Tactical Allocation

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