Franklin Investment Grade Corporate ETF
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.7%
1 yr return
1.2%
3 Yr Avg Return
-3.5%
5 Yr Avg Return
0.6%
Net Assets
$348 M
Holdings in Top 10
13.4%
52 WEEK LOW AND HIGH
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 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FLCO - Profile
Distributions
- YTD Total Return -2.7%
- 3 Yr Annualized Total Return -3.5%
- 5 Yr Annualized Total Return 0.6%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.27%
- Dividend Yield 7.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFranklin Investment Grade Corporate ETF
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateOct 05, 2016
-
Shares Outstanding39400000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerShawn 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.
FLCO - Performance
Return Ranking - Trailing
Period | FLCO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -6.4% | 2.8% | 82.95% |
1 Yr | 1.2% | -4.1% | 8.4% | 75.57% |
3 Yr | -3.5%* | -10.1% | 38.9% | 67.63% |
5 Yr | 0.6%* | -4.3% | 25.9% | 74.21% |
10 Yr | N/A* | -0.6% | 13.9% | 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% | 72.16% |
2022 | -19.1% | -28.7% | 142.1% | 56.57% |
2021 | -4.8% | -12.3% | 4.9% | 63.95% |
2020 | 5.6% | -8.0% | 10.6% | 52.38% |
2019 | 10.9% | 4.3% | 13.4% | 29.75% |
Total Return Ranking - Trailing
Period | FLCO Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.7% | -6.4% | 2.8% | 82.95% |
1 Yr | 1.2% | -4.1% | 8.4% | 75.57% |
3 Yr | -3.5%* | -10.1% | 38.9% | 67.63% |
5 Yr | 0.6%* | -4.3% | 25.9% | 74.21% |
10 Yr | N/A* | -0.6% | 13.9% | 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% | 72.73% |
2022 | -16.1% | -25.6% | 151.8% | 50.29% |
2021 | -2.1% | -5.1% | 7.5% | 93.02% |
2020 | 10.0% | -8.0% | 116.0% | 55.95% |
2019 | 14.8% | 6.7% | 17.4% | 31.65% |
FLCO - Holdings
Concentration Analysis
FLCO | Category Low | Category High | FLCO % Rank | |
---|---|---|---|---|
Net Assets | 348 M | 5.45 M | 47.3 B | 68.18% |
Number of Holdings | 170 | 4 | 9989 | 91.48% |
Net Assets in Top 10 | 86.1 M | -29.6 M | 2.71 B | 54.55% |
Weighting of Top 10 | 13.38% | 1.6% | 143.5% | 44.32% |
Top 10 Holdings
- Verizon Communications Inc 1.67%
- Bank of America Corp 1.50%
- Amgen Inc 1.45%
- Goldman Sachs Group Inc/The 1.40%
- Wells Fargo Co 1.36%
- T-Mobile USA Inc 1.32%
- Vistra Operations Co LLC 1.24%
- Elevance Health Inc 1.22%
- Aon Global Ltd 1.12%
- Roche Holdings Inc 1.11%
Asset Allocation
Weighting | Return Low | Return High | FLCO % Rank | |
---|---|---|---|---|
Bonds | 98.91% | 0.00% | 136.47% | 9.66% |
Convertible Bonds | 7.37% | 0.00% | 78.47% | 14.77% |
Cash | 1.09% | -43.80% | 45.81% | 90.34% |
Stocks | 0.00% | 0.00% | 99.96% | 61.36% |
Preferred Stocks | 0.00% | 0.00% | 9.18% | 60.80% |
Other | 0.00% | -1.14% | 13.53% | 86.36% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FLCO % Rank | |
---|---|---|---|---|
Corporate | 94.14% | 41.80% | 99.80% | 16.48% |
Securitized | 0.86% | 0.00% | 23.18% | 55.11% |
Government | 0.50% | 0.00% | 25.63% | 84.66% |
Derivative | 0.00% | -0.21% | 1.89% | 84.66% |
Cash & Equivalents | 0.00% | 0.00% | 45.81% | 90.91% |
Municipal | 0.00% | 0.00% | 3.62% | 81.82% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FLCO % Rank | |
---|---|---|---|---|
US | 98.91% | 0.00% | 109.04% | 9.09% |
Non US | 0.00% | 0.00% | 47.05% | 64.20% |
FLCO - Expenses
Operational Fees
FLCO Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.35% | 0.02% | 46.23% | 81.03% |
Management Fee | 0.35% | 0.00% | 1.35% | 46.59% |
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% | 24.71% |
FLCO - Distributions
Dividend Yield Analysis
FLCO | Category Low | Category High | FLCO % Rank | |
---|---|---|---|---|
Dividend Yield | 7.12% | 0.00% | 6.08% | 30.11% |
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% | 49.43% |
Capital Gain Distribution Analysis
FLCO | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 05, 2024 | $0.072 | OrdinaryDividend |
Mar 07, 2024 | $0.123 | OrdinaryDividend |
Feb 07, 2024 | $0.074 | OrdinaryDividend |
Dec 21, 2023 | $0.077 | OrdinaryDividend |
Dec 07, 2023 | $0.072 | OrdinaryDividend |
Nov 07, 2023 | $0.080 | OrdinaryDividend |
Oct 06, 2023 | $0.069 | OrdinaryDividend |
Sep 08, 2023 | $0.079 | OrdinaryDividend |
Aug 07, 2023 | $0.070 | OrdinaryDividend |
Jul 10, 2023 | $0.070 | OrdinaryDividend |
Jun 07, 2023 | $0.078 | OrdinaryDividend |
May 05, 2023 | $0.064 | OrdinaryDividend |
Apr 10, 2023 | $0.075 | OrdinaryDividend |
Mar 07, 2023 | $0.063 | OrdinaryDividend |
Feb 07, 2023 | $0.033 | OrdinaryDividend |
Dec 22, 2022 | $0.034 | OrdinaryDividend |
Dec 07, 2022 | $0.068 | OrdinaryDividend |
Nov 07, 2022 | $0.063 | OrdinaryDividend |
Oct 07, 2022 | $0.063 | OrdinaryDividend |
Sep 08, 2022 | $0.073 | OrdinaryDividend |
Aug 05, 2022 | $0.079 | OrdinaryDividend |
Jul 08, 2022 | $0.067 | OrdinaryDividend |
Jun 07, 2022 | $0.063 | OrdinaryDividend |
May 06, 2022 | $0.058 | OrdinaryDividend |
Apr 07, 2022 | $0.070 | OrdinaryDividend |
Mar 07, 2022 | $0.055 | OrdinaryDividend |
Feb 07, 2022 | $0.112 | OrdinaryDividend |
Dec 07, 2021 | $0.066 | OrdinaryDividend |
Nov 04, 2021 | $0.060 | OrdinaryDividend |
Oct 06, 2021 | $0.062 | OrdinaryDividend |
Sep 07, 2021 | $0.058 | OrdinaryDividend |
Aug 05, 2021 | $0.060 | OrdinaryDividend |
Jul 07, 2021 | $0.065 | OrdinaryDividend |
Jun 04, 2021 | $0.058 | OrdinaryDividend |
May 06, 2021 | $0.058 | OrdinaryDividend |
Apr 06, 2021 | $0.072 | OrdinaryDividend |
Mar 04, 2021 | $0.057 | OrdinaryDividend |
Feb 04, 2021 | $0.061 | OrdinaryDividend |
Dec 04, 2020 | $0.058 | OrdinaryDividend |
Nov 05, 2020 | $0.065 | OrdinaryDividend |
Oct 06, 2020 | $0.065 | OrdinaryDividend |
Sep 04, 2020 | $0.058 | OrdinaryDividend |
Aug 06, 2020 | $0.073 | OrdinaryDividend |
Jul 07, 2020 | $0.052 | OrdinaryDividend |
Jun 04, 2020 | $0.067 | OrdinaryDividend |
May 06, 2020 | $0.128 | OrdinaryDividend |
Apr 06, 2020 | $0.076 | OrdinaryDividend |
Mar 05, 2020 | $0.065 | OrdinaryDividend |
Feb 06, 2020 | $0.072 | OrdinaryDividend |
Dec 05, 2019 | $0.050 | OrdinaryDividend |
Nov 06, 2019 | $0.057 | OrdinaryDividend |
Oct 04, 2019 | $0.068 | OrdinaryDividend |
Sep 06, 2019 | $0.071 | OrdinaryDividend |
Aug 06, 2019 | $0.058 | OrdinaryDividend |
Jul 05, 2019 | $0.066 | OrdinaryDividend |
Jun 06, 2019 | $0.092 | OrdinaryDividend |
May 06, 2019 | $0.054 | OrdinaryDividend |
Apr 04, 2019 | $0.072 | OrdinaryDividend |
Mar 06, 2019 | $0.066 | OrdinaryDividend |
Feb 06, 2019 | $0.081 | OrdinaryDividend |
Jan 04, 2019 | $0.074 | OrdinaryDividend |
Dec 06, 2018 | $0.076 | OrdinaryDividend |
Nov 06, 2018 | $0.090 | OrdinaryDividend |
Oct 04, 2018 | $0.066 | OrdinaryDividend |
Sep 07, 2018 | $0.091 | OrdinaryDividend |
Aug 06, 2018 | $0.074 | OrdinaryDividend |
Jul 06, 2018 | $0.072 | OrdinaryDividend |
Jun 06, 2018 | $0.086 | OrdinaryDividend |
May 04, 2018 | $0.061 | OrdinaryDividend |
Apr 05, 2018 | $0.078 | OrdinaryDividend |
Mar 06, 2018 | $0.062 | OrdinaryDividend |
Feb 06, 2018 | $0.064 | OrdinaryDividend |
Jan 04, 2018 | $0.069 | OrdinaryDividend |
Dec 06, 2017 | $0.071 | OrdinaryDividend |
Nov 06, 2017 | $0.069 | OrdinaryDividend |
Oct 05, 2017 | $0.064 | OrdinaryDividend |
Sep 08, 2017 | $0.081 | OrdinaryDividend |
Aug 07, 2017 | $0.067 | OrdinaryDividend |
Jul 10, 2017 | $0.071 | OrdinaryDividend |
Jun 07, 2017 | $0.067 | OrdinaryDividend |
May 05, 2017 | $0.059 | OrdinaryDividend |
Apr 07, 2017 | $0.079 | OrdinaryDividend |
Mar 07, 2017 | $0.061 | OrdinaryDividend |
Feb 07, 2017 | $0.068 | OrdinaryDividend |
Jan 05, 2017 | $0.045 | OrdinaryDividend |
Dec 07, 2016 | $0.037 | OrdinaryDividend |
Nov 07, 2016 | $0.043 | OrdinaryDividend |
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 |