FPAA - Investment Managers Series Trust III - FPA Global Allocation ETF
FPAA seeks risk-adjusted returns by investing across both equity and fixed-income markets through underlying funds, but may also invest directly in securities. The fund generally allocates at least 50% of its assets to global equities, including emerging-market companies. Its fixed-income exposure may include government and corporate bonds, MBS, ABS, convertibles, loans, structured notes, inflation-linked bonds, and high-yield bonds.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $21.0M
- Beta
- 0.93
- 52-Week Range
- 24.41-27.82
- Dividend Yield
- $0.13
- IPO Date
- Jun 8, 2026
- Exchange
- CBOE
FPAA Options Snapshot
Options pricing data for FPAA is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.
What This Page Covers
The FPAA overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
FPAA fund facts: expense ratio 1.33%, assets under management $27.3M, NAV $24.74 as of the data source's update on Oct 8, 2026, launched Jun 2, 2026, issued by FPA. See the FPAA holdings.
Frequently asked FPAA overview questions
- What is FPAA?
- FPAA is the ticker symbol for Investment Managers Series Trust III - FPA Global Allocation ETF, an listed exchange-traded fund. FPAA seeks risk-adjusted returns by investing across both equity and fixed-income markets through underlying funds, but may also invest directly in securities. The fund generally allocates at least 50% of its assets to global equities, including emerging-market companies. Listed on CBOE. FPAA is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What are FPAA's key statistics?
- Investment Managers Series Trust III - FPA Global Allocation ETF (FPAA) carries a market capitalization of $21.0M, 52-week range of 24.41-27.82. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does FPAA belong to?
- Investment Managers Series Trust III - FPA Global Allocation ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare FPAA's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the FPAA data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for FPAA, it usually reflects low options liquidity or a recently listed name. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.