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FPA Queens Road Value Fund
mutual fund
QRVLX
Payout Change
Pending
Price as of:
$33.06
-0.05
-0.15%
primary theme
U.S. Large-Cap Value Equity
share class
QRVLX (Mutual Fund)
FPA Queens Road Value Fund
Payout Change
Pending
Price as of:
$33.06
-0.05
-0.15%
primary theme
U.S. Large-Cap Value Equity
share class
QRVLX (Mutual Fund)
FPA Queens Road Value Fund
Payout Change
Pending
Price as of:
$33.06
-0.05
-0.15%
primary theme
U.S. Large-Cap Value Equity
share class
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
21.9%
1 yr return
24.3%
3 Yr Avg Return
9.7%
5 Yr Avg Return
12.2%
Net Assets
$39.5 M
Holdings in Top 10
54.9%
52 WEEK LOW AND HIGH
$33.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.61%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 1.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
QRVLX - Profile
Distributions
- YTD Total Return 21.9%
- 3 Yr Annualized Total Return 9.7%
- 5 Yr Annualized Total Return 12.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.55%
- Dividend Yield 1.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameFPA Queens Road Value Fund
-
Fund Family NameInvestment Managers Series Trust III
-
Inception DateJun 29, 2004
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSteve Scruggs
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in the equity securities (common stocks, preferred stocks and convertible securities) of U.S. companies. Investments will be made based on their potential for capital growth without limitation on issuer capitalization.
The Fund's sub-adviser, Bragg Financial Advisors, Inc., invests the Fund's assets by pursuing a value-oriented strategy. The sub-adviser's strategy begins with a screening process that seeks to identify companies whose stocks sell at discounted price-to-earnings (P/E) and price-to-cash flow (P/CF) multiples. The sub-adviser favors companies that maintain strong balance sheets and have experienced management. Generally, the sub-adviser attempts to identify situations where stock prices are undervalued by the market. The sub-adviser generally sells securities when it believes they are trading for more than their intrinsic value, to generate tax losses to offset taxable gains, or if additional cash is needed to fund redemptions.
QRVLX - Performance
Return Ranking - Trailing
| Period | QRVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 21.9% | -12.3% | 48.1% | 12.73% |
| 1 Yr | 24.3% | -7.1% | 60.7% | 13.95% |
| 3 Yr | 9.7%* | -4.2% | 31.7% | 27.35% |
| 5 Yr | 12.2%* | 0.1% | 45.6% | 16.78% |
| 10 Yr | 10.9%* | 1.8% | 25.4% | 11.33% |
* Annualized
Return Ranking - Calendar
| Period | QRVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.7% | -16.9% | 46.1% | 15.28% |
| 2022 | -11.3% | -64.7% | 4.6% | 44.25% |
| 2021 | 9.0% | -44.2% | 57.5% | 79.35% |
| 2020 | 0.2% | -23.2% | 285.0% | 44.43% |
| 2019 | 19.8% | -21.4% | 48.5% | 43.90% |
Total Return Ranking - Trailing
| Period | QRVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 21.9% | -12.3% | 48.1% | 12.73% |
| 1 Yr | 24.3% | -7.1% | 60.7% | 13.95% |
| 3 Yr | 9.7%* | -4.2% | 31.7% | 27.35% |
| 5 Yr | 12.2%* | 0.1% | 45.6% | 16.78% |
| 10 Yr | 10.9%* | 1.8% | 25.4% | 11.33% |
* Annualized
Total Return Ranking - Calendar
| Period | QRVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.1% | -15.9% | 46.7% | 18.37% |
| 2022 | -8.9% | -42.0% | 8.5% | 77.40% |
| 2021 | 27.8% | 3.6% | 129.7% | 30.23% |
| 2020 | 6.8% | -22.6% | 304.8% | 22.27% |
| 2019 | 23.9% | -12.7% | 52.1% | 70.04% |
NAV & Total Return History
QRVLX - Holdings
Concentration Analysis
| QRVLX | Category Low | Category High | QRVLX % Rank | |
|---|---|---|---|---|
| Net Assets | 39.5 M | 126 K | 163 B | 91.50% |
| Number of Holdings | 30 | 2 | 1727 | 95.51% |
| Net Assets in Top 10 | 26.8 M | 466 K | 39.5 B | 87.10% |
| Weighting of Top 10 | 54.88% | 4.4% | 99.1% | 3.93% |
Top 10 Holdings
- Trane Technologies PLC 7.55%
- Eaton Corp. PLC 6.29%
- Oracle Corp. 5.90%
- American Express Co. 5.83%
- Ameriprise Financial, Inc. 5.52%
- Elevance Health, Inc. 5.13%
- General Dynamics Corp. 4.90%
- Centene Corp. 4.84%
- Pfizer, Inc. 4.51%
- MSILF Treasury Portfolio - Class Institutional 4.40%
Asset Allocation
| Weighting | Return Low | Return High | QRVLX % Rank | |
|---|---|---|---|---|
| Stocks | 95.40% | 4.16% | 102.49% | 87.20% |
| Cash | 4.60% | 0.00% | 17.28% | 9.35% |
| Preferred Stocks | 0.00% | 0.00% | 13.68% | 84.95% |
| Other | 0.00% | -2.59% | 39.89% | 83.18% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 84.13% |
| Bonds | 0.00% | 0.00% | 97.99% | 84.30% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | QRVLX % Rank | |
|---|---|---|---|---|
| Financial Services | 28.94% | 0.00% | 58.05% | 4.43% |
| Industrials | 23.84% | 0.00% | 42.76% | 0.38% |
| Healthcare | 19.54% | 0.00% | 30.08% | 23.96% |
| Technology | 17.68% | 0.00% | 54.02% | 10.00% |
| Consumer Cyclical | 4.39% | 0.00% | 22.74% | 74.81% |
| Communication Services | 3.49% | 0.00% | 26.58% | 77.92% |
| Consumer Defense | 2.10% | 0.00% | 34.10% | 95.00% |
| Utilities | 0.00% | 0.00% | 27.04% | 97.45% |
| Real Estate | 0.00% | 0.00% | 90.54% | 97.92% |
| Energy | 0.00% | 0.00% | 54.00% | 98.77% |
| Basic Materials | 0.00% | 0.00% | 21.69% | 97.36% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | QRVLX % Rank | |
|---|---|---|---|---|
| US | 95.40% | 4.16% | 102.49% | 68.69% |
| Non US | 0.00% | 0.00% | 24.08% | 87.94% |
QRVLX - Expenses
Operational Fees
| QRVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.61% | 0.03% | 14.82% | 15.48% |
| Management Fee | 0.95% | 0.00% | 1.50% | 96.53% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| QRVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| QRVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| QRVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 1.00% | 0.00% | 488.00% | 0.44% |
QRVLX - Distributions
Dividend Yield Analysis
| QRVLX | Category Low | Category High | QRVLX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.05% | 0.00% | 16.67% | 49.39% |
Dividend Distribution Analysis
| QRVLX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| QRVLX | Category Low | Category High | QRVLX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.55% | -1.51% | 4.28% | 38.37% |
Capital Gain Distribution Analysis
| QRVLX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 19, 2023 | $0.354 | OrdinaryDividend |
| Dec 19, 2023 | $0.445 | CapitalGainLongTerm |
| Dec 20, 2022 | $0.668 | OrdinaryDividend |
| Dec 20, 2021 | $0.372 | OrdinaryDividend |
| Dec 20, 2021 | $4.164 | CapitalGainLongTerm |
| Dec 09, 2020 | $1.618 | OrdinaryDividend |
| Dec 19, 2019 | $0.368 | OrdinaryDividend |
| Dec 19, 2019 | $0.477 | CapitalGainLongTerm |
| Dec 20, 2018 | $1.075 | CapitalGainLongTerm |
| Dec 20, 2018 | $0.340 | OrdinaryDividend |
| Dec 21, 2017 | $0.643 | CapitalGainLongTerm |
| Dec 21, 2017 | $0.287 | OrdinaryDividend |
| Dec 15, 2016 | $0.000 | CapitalGainShortTerm |
| Dec 15, 2016 | $0.771 | CapitalGainLongTerm |
| Dec 15, 2016 | $0.331 | OrdinaryDividend |
| Dec 17, 2015 | $0.001 | CapitalGainShortTerm |
| Dec 17, 2015 | $0.357 | CapitalGainLongTerm |
| Dec 17, 2015 | $0.223 | OrdinaryDividend |
| Dec 18, 2014 | $0.728 | CapitalGainLongTerm |
| Dec 18, 2014 | $0.223 | OrdinaryDividend |
| Dec 27, 2013 | $0.185 | OrdinaryDividend |
| Dec 27, 2012 | $0.220 | OrdinaryDividend |
| Dec 29, 2011 | $0.156 | OrdinaryDividend |
| Dec 29, 2010 | $0.120 | OrdinaryDividend |
| Dec 28, 2009 | $0.132 | OrdinaryDividend |
| Dec 29, 2008 | $0.000 | CapitalGainLongTerm |
| Dec 29, 2008 | $0.189 | OrdinaryDividend |
| Dec 28, 2007 | $0.015 | CapitalGainShortTerm |
| Dec 28, 2007 | $0.201 | CapitalGainLongTerm |
| Dec 28, 2007 | $0.266 | OrdinaryDividend |
| Dec 28, 2006 | $0.013 | CapitalGainShortTerm |
| Dec 28, 2006 | $0.085 | CapitalGainLongTerm |
| Dec 28, 2006 | $0.212 | OrdinaryDividend |
| Dec 29, 2005 | $0.075 | CapitalGainLongTerm |
| Dec 29, 2005 | $0.055 | OrdinaryDividend |
| Dec 28, 2004 | $0.510 | CapitalGainShortTerm |
| Dec 28, 2004 | $0.185 | CapitalGainLongTerm |
| Dec 28, 2004 | $0.200 | OrdinaryDividend |
| Dec 29, 2003 | $0.215 | OrdinaryDividend |
| Dec 27, 2002 | $0.093 | OrdinaryDividend |
QRVLX - Fund Manager Analysis
Managers
Steve Scruggs
Start Date
Tenure
Tenure Rank
Apr 26, 2004
18.11
18.1%
Steve Scruggs, CFA has been employed by BFA since January 2000. Mr. Scruggs is Director of Research and Senior Portfolio Manager of BFA and a Trustee of the Funds. Mr. Scruggs holds a Bachelor’s Degree from North Carolina State University and an MBA from Wake Forest University. He is a CFA charter holder and member of the CFA Institute.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.12 | 6.71 |
