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Trending ETFs

Name

As of 12/20/2024

Price

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

$21.12

$556 M

5.09%

$1.07

0.35%

Vitals

YTD Return

2.1%

1 yr return

2.5%

3 Yr Avg Return

-2.6%

5 Yr Avg Return

-0.1%

Net Assets

$556 M

Holdings in Top 10

12.6%

52 WEEK LOW AND HIGH

$21.1
$20.66
$22.20

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 36.76%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 12/20/2024

Price

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

$21.12

$556 M

5.09%

$1.07

0.35%

FLCO - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -2.6%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.27%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin Investment Grade Corporate ETF
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Oct 05, 2016
  • Shares Outstanding
    39400000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Shawn Lyons

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets in investment grade corporate debt securities and investments. Investment grade debt securities are securities that are rated at the time of purchase in the top four ratings categories by one or more independent rating organizations such as S&P Global Ratings (S&P®) (rated BBB- or better) or Moody’s Investors Service (Moody’s) (rated Baa3 or higher) or, if unrated, are determined to be of comparable quality by the Fund’s investment manager. Corporate issuers may include corporate or other business entities in which a sovereign or governmental agency or entity may have, indirectly or directly, an interest, including a majority or greater ownership interest. The Fund invests primarily in U.S. dollar denominated corporate debt securities issued by U.S. and foreign companies. The Fund may invest in debt securities of any maturity or duration. The Fund’s focus on the credit quality of its portfolio is intended to reduce credit risk and help to preserve the Fund’s capital.

The Fund may also invest a portion of its assets in convertible securities, preferred securities (including preferred stock) and U.S. Treasury securities, and generally expects to invest a portion of its assets in cash, cash equivalents and high quality money market securities, including short-term U.S. government securities, commercial paper, repurchase agreements and affiliated or unaffiliated money market funds.

The Fund may invest up to 40% of its net assets in foreign securities, including those in developing markets, and up to 15% of its net assets in non-U.S. dollar denominated securities.

The Fund may enter into certain derivative transactions, principally currency forwards; interest rate and U.S. Treasury futures contracts; and swap agreements, including interest rate, fixed income total return, currency and credit default swaps (including credit default index swaps). The use of these derivative transactions may allow the Fund to obtain net long or short exposures to select currencies, interest rates, countries, durations or credit risks. These derivatives may be used to enhance Fund returns, increase liquidity, gain exposure to certain instruments or markets in a more efficient or less expensive way and/or hedge risks associated with its other portfolio investments. Derivatives that provide exposure to investment grade corporate debt securities may be used to satisfy the Fund’s 80% policy.

The Fund may invest up to 15% of its net assets in collateralized debt obligations (“CDOs”), including collateralized loan obligations (“CLOs”).

In choosing investments, the Fund’s investment manager selects securities in various market sectors based on the investment manager’s assessment of changing economic, market, industry and issuer conditions. The investment manager uses a “top-down” analysis of macroeconomic trends, combined with a “bottom-up” fundamental analysis of market sectors, industries and issuers, to try to take advantage of varying sector reactions to economic events. The Fund’s portfolio is constructed by taking into account the investment manager’s desired duration and yield curve exposure, total return potential, as well as the appropriate diversification and risk profile at the issue, company and industry level. The investment manager may utilize quantitative models to identify investment opportunities as part of the portfolio construction process for the Fund. Quantitative models are proprietary systems that rely on mathematical computations to identify investment opportunities.

The investment manager may seek to sell a security if: (i) the security has moved beyond the investment manager’s fair value target and there has been no meaningful positive change in the company’s fundamental outlook; (ii) there has been a negative fundamental change in the issuer’s credit outlook that changes the investment manager’s view of the appropriate valuation; or (iii) the investment manager’s views on macroeconomic or sector trends or valuations have changed, making that particular issuer (or that issuer’s industry) less attractive for the Fund’s portfolio. In addition, the investment manager may sell a security that still meets the investment manager’s buy criteria if another security becomes available in the new issue or secondary market that the investment manager believes has better return potential or improves the Fund’s risk profile.

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FLCO - Performance

Return Ranking - Trailing

Period FLCO Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.5% 7.5% 75.60%
1 Yr 2.5% -1.9% 7.8% 73.81%
3 Yr -2.6%* -7.8% 40.4% 73.05%
5 Yr -0.1%* -7.0% 25.2% 77.56%
10 Yr N/A* -0.3% 14.3% 15.00%

* Annualized

Return Ranking - Calendar

Period FLCO Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -5.6% 6.3% 70.83%
2022 -19.1% -28.7% 142.1% 57.49%
2021 -4.8% -12.3% 4.9% 65.24%
2020 5.6% -8.0% 9.0% 52.17%
2019 10.9% 4.3% 13.4% 30.46%

Total Return Ranking - Trailing

Period FLCO Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.5% 7.5% 75.60%
1 Yr 2.5% -1.9% 7.8% 73.81%
3 Yr -2.6%* -7.8% 40.4% 73.05%
5 Yr -0.1%* -7.0% 25.2% 77.56%
10 Yr N/A* -0.3% 14.3% N/A

* Annualized

Total Return Ranking - Calendar

Period FLCO Return Category Return Low Category Return High Rank in Category (%)
2023 7.9% -5.6% 12.9% 72.62%
2022 -16.1% -25.6% 151.8% 51.50%
2021 -2.1% -5.1% 7.5% 92.68%
2020 10.0% -8.0% 116.0% 54.66%
2019 14.8% 6.7% 17.4% 31.13%

FLCO - Holdings

Concentration Analysis

FLCO Category Low Category High FLCO % Rank
Net Assets 556 M 23.9 M 47.3 B 63.69%
Number of Holdings 192 4 10364 95.83%
Net Assets in Top 10 73.1 M -29.6 M 3.03 B 57.74%
Weighting of Top 10 12.61% 1.7% 143.7% 46.43%

Top 10 Holdings

  1. Federal Home Loan Bank Discount Notes 1.96%
  2. Bank of America Corp 1.36%
  3. Goldman Sachs Group Inc/The 1.33%
  4. Wells Fargo Co 1.20%
  5. Amgen Inc 1.19%
  6. Citigroup Inc 1.17%
  7. T-Mobile USA Inc 1.17%
  8. JPMorgan Chase Co 1.10%
  9. Burlington Northern Santa Fe LLC 1.09%
  10. Bank of America Corp 1.04%

Asset Allocation

Weighting Return Low Return High FLCO % Rank
Bonds
99.05% 0.00% 136.47% 13.69%
Convertible Bonds
7.37% 0.00% 78.47% 15.48%
Cash
0.95% -43.80% 45.89% 80.36%
Stocks
0.00% 0.00% 99.98% 58.93%
Preferred Stocks
0.00% 0.00% 9.18% 58.33%
Other
0.00% -5.08% 9.86% 86.90%

Bond Sector Breakdown

Weighting Return Low Return High FLCO % Rank
Corporate
94.14% 41.80% 99.52% 16.67%
Securitized
0.86% 0.00% 23.18% 54.17%
Government
0.50% 0.00% 25.63% 84.52%
Derivative
0.00% -2.44% 2.14% 70.24%
Cash & Equivalents
0.00% 0.00% 45.89% 91.67%
Municipal
0.00% 0.00% 3.37% 82.14%

Bond Geographic Breakdown

Weighting Return Low Return High FLCO % Rank
US
99.05% 0.00% 112.17% 11.90%
Non US
0.00% 0.00% 47.05% 62.50%

FLCO - Expenses

Operational Fees

FLCO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.03% 3.33% 81.21%
Management Fee 0.35% 0.00% 1.35% 48.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% 47.67%

Sales Fees

FLCO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

FLCO 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.

FLCO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 36.76% 0.00% 259.00% 25.30%

FLCO - Distributions

Dividend Yield Analysis

FLCO Category Low Category High FLCO % Rank
Dividend Yield 5.09% 0.00% 6.00% 30.36%

Dividend Distribution Analysis

FLCO Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

FLCO Category Low Category High FLCO % Rank
Net Income Ratio 2.27% 0.38% 5.93% 49.40%

Capital Gain Distribution Analysis

FLCO Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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FLCO - Fund Manager Analysis

Managers

Shawn Lyons


Start Date

Tenure

Tenure Rank

Oct 03, 2016

5.66

5.7%

Shawn Lyons is the head of the Money Market group and portfolio manager of the taxable money funds. Mr. Lyons joined Franklin Templeton Investments in 1996. Mr. Lyons received a Bachelor of Arts degree in economics from the University of California at Berkeley. He is a Chartered Financial Analyst (CFA) and a member of the Security Analysts of San Francisco (SASF) and the Association for Investment Management and Research (AIMR).

Marc Kremer


Start Date

Tenure

Tenure Rank

Oct 03, 2016

5.66

5.7%

Marc Kremer, CFA, is a Portfolio Manager at Franklin Templeton Institutional, LLC. He has final authority over all aspects of the Fund’s investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He joined Franklin Templeton Investments in 2003.

Thomas Runkel


Start Date

Tenure

Tenure Rank

Oct 15, 2019

2.63

2.6%

Tom Runkel is a vice president and portfolio manager for Franklin Templeton Investments. Mr. Runkel focuses on relative value security selection and allocation among the credit sectors for the multi-sector fixed income portfolios. He also serves as the director of portfolio strategies and the lead portfolio manager for the SMA Taxable Fixed Income strategies and supervises the Franklin SMA Taxable Fixed Income Portfolio Management team. Mr. Runkel joined Franklin in 1983 and served as a senior portfolio manager for Franklin's taxable money fund and investment grade fixed income assets as well as a trader for taxable fixed income and equity securities. Mr. Runkel founded Runkel Funds, Inc. in 2002 and managed a large-cap value fund until late 2005 before returning to Franklin in 2006. Mr. Runkel has an M.B.A. from the University of Santa Clara and earned a B.S. in political science from the University of California, Davis. He is a Chartered Financial Analyst (CFA) charterholder.

Pururav Thoutireddy


Start Date

Tenure

Tenure Rank

Oct 15, 2019

2.63

2.6%

Dr. Thoutireddy joined Franklin Templeton in 2015. Prior to joining Franklin Templeton, Dr. Thoutireddy was Senior Financial Engineer with Calypso Technology Inc. and Moody Analytics.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.76 6.74 4.41