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Trending ETFs

Name

As of 03/25/2024

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

$11.31

$51.5 M

2.98%

$0.34

1.16%

Vitals

YTD Return

5.0%

1 yr return

20.1%

3 Yr Avg Return

4.9%

5 Yr Avg Return

4.6%

Net Assets

$51.5 M

Holdings in Top 10

25.1%

52 WEEK LOW AND HIGH

$11.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 61.28%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

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

$11.31

$51.5 M

2.98%

$0.34

1.16%

FEMDX - Profile

Distributions

  • YTD Total Return 5.0%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 4.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 6.34%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Franklin Emerging Market Debt Opportunities Fund
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Oct 05, 2006
  • Shares Outstanding
    6297998
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nicholas Hardingham

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets in debt securities of “emerging market countries.” “Emerging market countries” include those countries considered to be developing or emerging by the International Monetary Fund, the United Nations; countries included as developing or emerging markets by S&P Dow Jones, Morgan Stanley Capital International or Russell index providers; countries in the JPMorgan Emerging Markets Bond Index - Global (EMBIG) or JPMorgan Government Bond Index - Emerging Markets Broad (GBI-EM Broad) fixed income indexes. These countries typically are located in the Asia-Pacific region, Eastern Europe, Central and South America, and Africa. In addition, countries that have restructured their external or local debt during the past 10 years or currently have restructured external or local debt outstanding may also be considered to be emerging market countries.

The Fund invests mainly in debt securities issued by sovereign and subsovereign government entities, including securities issued by political subdivisions, local authorities, government agencies, government owned, controlled, sponsored or guaranteed corporations and supranationals located in emerging market countries. Although the investment manager tends to focus on these types of securities, securities issued by corporate entities that are controlled (i.e., more than 50% owned) by a sovereign entity, and corporate emerging markets debt, are also considered suitable investments. The Fund may also invest in loan participation notes (LPNs) that are secured by collateral of any of these entities.

The Fund may invest up to 100% of its assets in debt securities that are rated below investment grade (also known as “junk bonds”). These securities are either rated below investment grade by independent rating agencies such as S&P® Global

Ratings (S&P®) or Moody’s Investors Service (Moody’s) or unrated securities the investment manager determines are of comparable quality. The Fund also may invest in investment grade debt securities or unrated securities the investment manager determines are of comparable quality when those securities appear more advantageous relative to high yield securities. Securities rated in one of the top four rating categories of the independent rating agencies are considered to be investment grade. The Fund may also invest up to 15% of its net assets in defaulted debt securities.

For purposes of pursuing its investment goals, the Fund may enter into various currency related transactions involving derivative instruments, including currency and cross currency forwards. The use of these derivative transactions may allow the Fund to obtain net long or net negative (short) exposure to selected currencies.

The portfolio construction process can be summarized in three integral steps—country allocation, currency allocation and issue selection. The first stage of the emerging market debt investment process is identifying the countries for which management has a favorable outlook, which is managed with a bottom-up, research-driven perspective. Since the portfolio is constructed through bottom-up fundamental research and not relative to a benchmark index, there is no requirement to hold securities from any one country. The next decision is whether to take exposure in the form of “hard currency” or local currency instruments. Hard currencies are currencies in which investors have confidence and are typically currencies of economically and politically stable industrialized nations. The last decision concerns security selection. This depends on a number of factors, including the type of the security’s coupon (fixed or floating).

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FEMDX - Performance

Return Ranking - Trailing

Period FEMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -2.9% 106.3% 4.28%
1 Yr 20.1% -3.8% 126.6% 3.29%
3 Yr 4.9%* -13.6% 23.8% 0.68%
5 Yr 4.6%* -8.7% 14.2% 3.28%
10 Yr 4.5%* -5.2% 7.4% 3.47%

* Annualized

Return Ranking - Calendar

Period FEMDX Return Category Return Low Category Return High Rank in Category (%)
2023 12.0% -10.6% 17.8% 0.99%
2022 -16.6% -29.1% -2.4% 36.73%
2021 1.6% -24.0% 2.7% 0.70%
2020 3.9% -14.0% 9.7% 7.55%
2019 2.3% -6.4% 13.0% 94.53%

Total Return Ranking - Trailing

Period FEMDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -2.9% 106.3% 4.28%
1 Yr 20.1% -3.8% 126.6% 3.29%
3 Yr 4.9%* -13.6% 23.8% 0.68%
5 Yr 4.6%* -8.7% 14.2% 3.28%
10 Yr 4.5%* -5.2% 7.4% 3.47%

* Annualized

Total Return Ranking - Calendar

Period FEMDX Return Category Return Low Category Return High Rank in Category (%)
2023 15.5% -0.6% 20.0% 4.61%
2022 -8.9% -27.6% -1.7% 11.56%
2021 3.1% -18.5% 7.4% 2.44%
2020 3.9% -7.8% 18.0% 67.99%
2019 9.9% -3.0% 23.0% 89.78%

NAV & Total Return History


FEMDX - Holdings

Concentration Analysis

FEMDX Category Low Category High FEMDX % Rank
Net Assets 51.5 M 331 K 13.6 B 77.05%
Number of Holdings 100 4 1833 88.85%
Net Assets in Top 10 10.8 M -134 M 1.25 B 77.38%
Weighting of Top 10 25.13% 5.1% 101.4% 33.77%

Top 10 Holdings

  1. Brazil Notas do Tesouro Nacional, Series F 3.28%
  2. Suriname Government Bond 3.00%
  3. Uruguay Government Bond 2.67%
  4. Serbia Government Bond 2.53%
  5. Romanian Government Bond 2.51%
  6. Uzbekistan Government Bond 2.35%
  7. Angola Government Bond 2.28%
  8. Provincia del Chubut Argentina 2.23%
  9. Iraq Government Bond 2.15%
  10. South Africa Government Bond 2.14%

Asset Allocation

Weighting Return Low Return High FEMDX % Rank
Bonds
92.04% 0.91% 99.54% 69.84%
Cash
4.69% 0.00% 21.93% 46.56%
Convertible Bonds
1.08% 0.00% 8.47% 20.20%
Other
0.29% -9.56% 88.17% 33.11%
Stocks
0.00% -0.01% 93.55% 34.75%
Preferred Stocks
0.00% 0.00% 1.28% 7.54%

Bond Sector Breakdown

Weighting Return Low Return High FEMDX % Rank
Government
55.75% 0.00% 99.79% 56.95%
Corporate
22.31% 0.00% 93.26% 36.75%
Cash & Equivalents
1.36% 0.00% 23.23% 57.70%
Derivative
0.29% -2.00% 7.35% 19.34%
Securitized
0.14% 0.00% 2.41% 10.60%
Municipal
0.00% 0.00% 0.00% 2.32%

Bond Geographic Breakdown

Weighting Return Low Return High FEMDX % Rank
US
48.32% -42.31% 99.01% 63.93%
Non US
43.72% 0.00% 132.49% 35.08%

FEMDX - Expenses

Operational Fees

FEMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.16% 0.02% 35.56% 54.61%
Management Fee 0.85% 0.00% 1.10% 83.61%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.02% 0.65% 59.05%

Sales Fees

FEMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

FEMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

FEMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.28% 0.00% 218.00% 64.15%

FEMDX - Distributions

Dividend Yield Analysis

FEMDX Category Low Category High FEMDX % Rank
Dividend Yield 2.98% 0.00% 22.06% 87.87%

Dividend Distribution Analysis

FEMDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Monthly Monthly Monthly

Net Income Ratio Analysis

FEMDX Category Low Category High FEMDX % Rank
Net Income Ratio 6.34% -2.28% 8.00% 4.36%

Capital Gain Distribution Analysis

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

Distributions History

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FEMDX - Fund Manager Analysis

Managers

Nicholas Hardingham


Start Date

Tenure

Tenure Rank

Jun 06, 2014

7.99

8.0%

Nicholas Hardingham, CFA, Portfolio Manager and Research Analyst of Franklin Templeton Investment Management Limited. Nicholas Hardingham is a portfolio manager and analyst within the EMD Opportunities strategy group. Previously Mr. Hardingham worked as quantitative research analyst within the global fixed income group. He joined Franklin Templeton Investments in 2002. Prior to that, he worked as a performance analyst at T Rowe Price International. Mr. Hardingham is a Chartered Financial Analyst (CFA) Charterholder and earned a B.Sc. in Pure Mathematics from Imperial College, London.

Stephanie Ouwendijk


Start Date

Tenure

Tenure Rank

Dec 01, 2015

6.5

6.5%

Stephanie Ouwendijk is portfolio manager and analyst within the EMD Opportunities Strategy Group. Prior to joining Franklin Templeton Investments in January 2015, Stephanie worked at Ashmore Group where she worked as a fund manager for 4.5 years responsible for CEE and African (quasi) sovereign debt. Before Ashmore, she worked as an analyst/portfolio assistant at Gulf International Bank Asset Management. Stephanie holds an MSc in Investment Management from Cass Business School (London) and a MSc & BSc in Business Administration from Vrij Universiteit (Amsterdam). She is a Chartered Financial Analyst (CFA) charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11