FPAS

Fpa Global Equity ETF

A bond fund that holds U.S. government debt, investing mostly in Treasuries and mortgage-related securities issued by government agencies. The ETF is part of the FPA family, a Los Angeles, employee-owned investment firm founded in 1954 as Shareholders Management Company and renamed FPA in 1976. The "short duration" in its name refers to keeping the fund's sensitivity to interest-rate swings low, while its shares trade on an exchange just like a stock.

Exchange-traded fund