Founded in 1954, First Pacific Advisors (FPA) is an independent investment firm. It managed $32 billion of assets under management as of Dec. 31, 2025. The investment strategy of FPA bases its decisions on intrinsic value evaluation and price management throughout different market conditions. The mutual fund of the investment strategy uses risk control methods to protect capital while fund managers perform independent research to select investments instead of following market trends, making it a reliable investment option.
We have chosen two FPA mutual funds — FPA Queens Road Small Cap Value Inv QRSVX and FPA Flexible Fixed Income FPFIX — that investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided a comparatively stronger performance and carry a lower fee.
FPA Queens Road Small Cap Value Inv fund invests most of its assets in equity securities of small-cap companies.
Steve Scruggs has been the lead manager of QRSVX since June 13, 2002. Most of the fund's holdings were in companies like Fabrinet (4.4%), Vanguard 0-3 Month Treasury Bill ETF (4.4%) and TD SYNNEX Corp (4%) as of Aug. 31, 2025.
QRSVX's 3-year and 5-year annualized returns are 13.4% and 10.3%, respectively. Its net expense ratio is 0.92%. QRSVX has a Zacks Mutual Fund Rank #1.
To see how this fund performed compared to its category and other 1 and 2 Ranked Mutual Funds, please click here.
FPA Flexible Fixed Income fund seeks long-term capital appreciation. FPFIX invests a majority of its assets in equity securities of large-cap companies whose equity securities have a market capitalization of $5 billion or more.
Abhijeet Patwardhan has been the lead manager of FPFIX since Dec. 31, 2018. Most of the fund’s holdings were in companies like Misc Bonds (45.4%), U.S. Treasury Notes (8.7%), and U.S. Treasury Bills (5.9%) as of Sept. 30, 2025.
FPFIX’s 3-year and 5-year annualized returns are 7.2% and 4%, respectively. Its net expense ratio is 0.55%. FPFIX has a Zacks Mutual Fund Rank #1.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
