ETF Evaluator: FPA Global Equity ETF () Follow This ETF

FPA Global Equity ETF Overview

FPA Global Equity ETF (FPAG) is an actively managed International Equity Global Large-Stock Value exchange-traded fund (ETF). FPA launched the ETF in 2021.

The investment seeks long-term growth of principal and income. Although the adviser has adopted a policy to invest at least 80% of its net assets,plus the amount of borrowings for investment purposes, in equity securities, the adviser expects to invest, under normal circumstances, at least 95% of the fund’s assets in equity securities. The fund invests primarily in publicly traded common stocks of mid- and large-cap U.S. and non-U.S. companies, including companies in emerging market countries. The fund is non-diversified.

About FPA Global Equity ETF (FPAG)

There are 2 members of the management team with an average tenure of 4.62 years: Brian Selmo (2021) and Mark Landecker (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. FPA Global Equity ETF has 67 securities in its portfolio. The top 10 holdings constitute 34.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

FPA Global Equity ETF is part of the Equity global asset class and is within the International Equity ETF group. FPA Global Equity ETF has 39.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 56.4% There is 39.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). FPA Global Equity ETF has 4.4% of the portfolio in cash.

Assets Under Management

The fund has $571 million in total assets, which is above the $457 million average for the Global Large-Stock Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FPAG Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The FPA Global Equity ETF expense ratio is average compared to funds in the Global Large-Stock Value category. FPA Global Equity ETF has an expense ratio of 0.49%, which is 21% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. FPA Global Equity ETF has a portfolio turnover rate of 14%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 46% for the Global Large-Stock Value category.

Recently, in the month of July 2026, FPA Global Equity ETF returned 3.7%, which earned it a grade of C, as the Global Large-Stock Value category had an average return of 3.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

FPA Global Equity ETF has a trailing yield of 1.30%, which is below the 2.34% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

FPA Global Equity ETF Grades

Year to date, the ETF has returned 12.1%, 2.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 23.1% over the past year (grade of F) and 19.2% over the past three years (grade of B).

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