FPA Short Duration Government ETF
Investment Objective
The FPA Short Duration Government ETF (the “Fund”) seeks to provide long-term total return, which includes income and capital appreciation, while considering capital preservation.
Fund Details (as of TBD)
(as of most recent prospectus)
(as of most recent prospectus)
Fund NAV/Market Price (as of TBD)
Historical Premium/Discount
| Days at premium |
| Days at NAV |
| Days at discount |
As with any stock, the price of the Fund’s shares will fluctuate with market conditions and other factors. Shares of ETFs frequently trade at a price that is less than (a “discount”) or more than (a “premium”) their net asset value. If the Fund’s shares trade at a premium to net asset value, there is no assurance that any such premium will be sustained for any period of time and will not decrease, or that the shares will not trade at a discount to net asset value thereafter.
Portfolio Holdings (as of TBD)
* Holding data is provided “as of” the date indicated. Holdings are subject to change without notice. Holdings are provided for informational purposes only and should not be considered a recommendation to buy or sell the securities listed.
Investment Team
Abhijeet Patwardhan
Portfolio Manager
Abhi joined FPA in 2010. He serves as a Portfolio Manager and Co-Director of Research for FPA. Prior to joining FPA, Abhi was an investment analyst at Reservoir Capital Group and D.B. Zwirn & Co. and an investment banking analyst at UBS Warburg and Donaldson, Lufkin & Jenrette. He earned a Bachelor’s degree in Economics, summa cum laude, and an MBA from the Wharton School of the University of Pennsylvania.
Joseph H. Choi
Analyst
Joe joined FPA in 2014. He serves as an Analyst for FPA. Prior to joining FPA, Joe was an investment analyst at Kingsland Capital Management, LLC, and an investment banking analyst at Bear, Stearns & Co. Inc. He earned a Bachelor’s degree in Commerce from the University of Virginia's McIntire School of Commerce, with concentrations in Finance and Accounting.
Prakash Gopinath
Analyst
Prakash joined FPA in 2015. He serves as an Analyst and Co-Director of Research for FPA. Prior to joining FPA, Prakash was a senior associate within the direct lending group at Ares Management, an investment analyst at City on a Hill Capital, an associate at Leonard Green & Partners, and an investment banking analyst at UBS Investment Bank. He earned a Bachelor’s degree (with honors) in Business Administration from the Haas School of Business at the University of California, Berkeley.
Felix Moy
Analyst
Felix joined FPA in 2019. He serves as a Trader for FPA. Prior to joining FPA, Felix was a Vice President at Loomis, Sayles & Co where he traded agency MBS and non-agency RMBS sectors. Preceding this role, Felix was a Managing Director at Mesirow Financial. Felix began his career as a structured products analyst at Bear, Stearns & Co, later becoming an Associate Director within the Mortgage and Structured Products sales and trading department. He earned a Bachelor’s degree in Commerce from the University of Virginia's McIntire School of Commerce, with concentrations in Finance and Accounting.
Nazanin Pajoom
Analyst
Nazanin joined FPA in 2013. She serves as an Analyst for FPA. Prior to joining FPA, Nazanin was a design engineer intern at Texas Instruments and a volunteer research assistant for the Connectivity Lab at University of California, Berkeley. She earned a Bachelor’s degree in Electrical Engineering and Computer Science from University of California, Berkeley and a Master's degree in Financial Engineering from University of Southern California.
Felix Partow
Analyst
Felix joined FPA in 2023. He serves as an Analyst for FPA. Prior to joining FPA, Felix was a portfolio manager at Cohen & Company and a portfolio manager at The Midway Group. Felix graduated from the Massachusetts Institute of Technology with a degree in Mathematics.
Ryan Taylor, CFA
Analyst
Ryan joined FPA in 2017. He serves as an Analyst for FPA. Prior to joining FPA, Ryan was Vice President, Research Analyst & Junior Portfolio Manager for the Customized Credit Solutions Group at GSO Blackstone. Preceding this role, Ryan was an Associate Director, Research Analyst for the High Yield Investments Group at Barings (formerly Babson Capital). He earned a Bachelor’s degree in Finance from Wake Forest University. He is a CFA® charterholder.
The FPA Short Duration Government ETF is distributed by UMB Distribution Services, LLC, member FINRA/SIPC. First Pacific Advisors, LP, the Funds advisor is not affiliated with UMB Distribution Services, LLC.
You should consider the Fund’s investment objectives, risks, charges and expenses carefully before you invest. The prospectus details the Fund’s objective and policies, charges, and other matters of interest to the prospective investor. Please read the prospectus carefully before investing. You may obtain a copy of the prospectus by clicking on the link above on our website https://fpas.fpa.com or by calling (800) 982-4372.
Important Risk Information
Past performance does not guarantee future results. The Fund’s net asset value and investment return will fluctuate based upon changes in the value of its portfolio securities. There is no assurance that the Fund will achieve its investment objective, and an investment in the Fund is not by itself a complete or balanced investment program. For a complete description of the Fund’s principal investment risks please refer to the prospectus.
Shares of the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Because ETFs trade like stocks, the Fund may trade at prices above or below the ETF's NAV. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. Brokerage commissions and ETF expenses will reduce returns.