FPAA vs ACWI

AFPAA

BACWI

Measures won0–2ACWI wins · of 6 · 5Y

$10,000 · 5Y$16,115ACWI · VEA $15,497

Lowest cost0.03%VEA · $3 on $10k

Most income2.44%VEA · $244 on $10k

Smallest drop−9.7%ACWI · worst fall in 1Y

Held in common0.0%FPAA and ACWI

FPAA

ACWI

Investment Managers Series Trust III - FPA Global Allocation ETF · $36MiShares MSCI ACWI ETF · $32.3B

[…]3 years · per year[…] · $17,717+21.0%

[…]5 years · per year[…] · $16,115+10.0%

1.33%Expense ratio$133 · $32 on $10k · lower wins0.32%

0.50%12-mo yield$50 · $144 on $10k1.44%

[…]Worst dropSmaller wins−9.7%

[…]VolatilityLower wins14.8%

0–2ACWI wins

$10,000 · 5 yearsAll four, one scale

Shared top holdingsFPAA · ACWI

They share no top holdings, or holdings aren’t on file […]

Held in common0.0%

End-of-day Nov 9, 2026 · $10,000 5 years ago, dividends reinvested · ● winner of the row · each row scaled to the bigger of the two

All Four

5Y4 funds

#
1	BACWI	iShares MSCI ACWI ETFRead Desk	0.32%	1.44%	+2.6%	+11.2%	+13.9%	+21.0%	+10.0%	−9.7%	$32.3B
2	VEA	Vanguard FTSE Developed Markets ETFRead Desk	0.03%	2.44%	+2.9%	+12.9%	+18.8%	+20.5%	+9.2%	−11.6%	$231.6B
3	VXUS	Vanguard Total International Stock ETFRead Desk	0.05%	2.39%	+2.8%	+11.1%	+15.3%	+19.5%	+8.1%	−11.3%	$163.2B
4	AFPAA	Investment Managers Series Trust III - FPA Global Allocation ETFRead Desk	1.33%	0.50%	+1.6%	new	new	new	new	[…]	$36M

End-of-day Nov 9, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

All Four

5Y4 funds

#
1	BACWI	iShares MSCI ACWI ETFRead Desk	0.32%	1.44%	+2.6%	+11.2%	+13.9%	+21.0%	+10.0%	−9.7%	$32.3B
2	VEA	Vanguard FTSE Developed Markets ETFRead Desk	0.03%	2.44%	+2.9%	+12.9%	+18.8%	+20.5%	+9.2%	−11.6%	$231.6B
3	VXUS	Vanguard Total International Stock ETFRead Desk	0.05%	2.39%	+2.8%	+11.1%	+15.3%	+19.5%	+8.1%	−11.3%	$163.2B
4	AFPAA	Investment Managers Series Trust III - FPA Global Allocation ETFRead Desk	1.33%	0.50%	+1.6%	new	new	new	new	[…]	$36M

End-of-day Nov 9, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

Cards for this view

FPAA vs ACWI

FPAA

Investment Managers Series Trust III - FPA Global Allocation

[…]

ACWI

iShares MSCI ACWI

$16,115

MeasureFPAAACWI

Fee1.33%0.32%

Cost on $10k a year$133$32

Yield0.50%1.44%

5 years, per year[…]+10.0%

3 years, per year[…]+21.0%

Worst drop · 1Y[…]−9.7%

Volatility · 1Y[…]14.8%

2–0measures won
ACWI first

0.0%

holdings shared

Nov 9, 2026 · $10,000 five years ago, dividends reinvested

VXUS vs IXUS

YTD

VanguardVXUS

+11.1%

IXUSiShares

+11.5%

+11.1%Year to date+11.5%

2.4%Yield3.0%

$163BAssets$58.0B

2–0IXUS wins

End-of-day Nov 9, 2026

VEA vs IEFA

YTD

VanguardVEA

+12.9%

IEFAiShares

+11.1%

+12.9%Year to date+11.1%

2.4%Yield3.4%

$232BAssets$193B

1–1level

End-of-day Nov 9, 2026

SCHD vs VIG

YTD

SchwabSCHD

+33.2%

VIGVanguard

+14.8%

+33.2%Year to date+14.8%

3.0%Yield1.5%

$122BAssets$109B

2–0SCHD wins

End-of-day Nov 9, 2026

Overlap: FPAA, ACWI, VEA, VXUS

Today

65.4%most shared, VEA and VXUS

FPAAACWIVEAVXUS

FPAA—0.0%0.0%0.0%

ACWI0.0%—25.6%32.6%

VEA0.0%25.6%—65.4%

VXUS0.0%32.6%65.4%—

End-of-day Nov 9, 2026 · share held in common · outlined: the pair in versus

Income After Fees on $10,000

$241most kept, VEA

VEA$244 − $3 = $241

VXUS$239 − $5 = $234

ACWI$144 − $32 = $112

FPAA$50 − $133 = −$83

KeptFee

End-of-day Nov 9, 2026 · yield in dollars minus the fee