Franklin Templeton SMACS: Series CH
Name
As of 12/06/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.4%
1 yr return
1.8%
3 Yr Avg Return
-1.8%
5 Yr Avg Return
N/A
Net Assets
$3.8 M
Holdings in Top 10
47.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.37%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 2.74%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FQCHX - Profile
Distributions
- YTD Total Return 3.4%
- 3 Yr Annualized Total Return -1.8%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.44%
- Dividend Yield 3.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFranklin Templeton SMACS: Series CH
-
Fund Family NameFranklin Templeton Investments
-
Inception DateJun 03, 2019
-
Shares Outstanding334255
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Wiley
Fund Description
Under normal market conditions, the Fund invests substantially all of its net assets in municipal securities whose interest is free from regular federal income taxes and from California personal income taxes. Although the Fund attempts to invest all of its assets in securities whose interest is free from regular federal and California personal income taxes, it is possible, although not anticipated, that a portion of its net assets may be in securities that pay interest subject to federal or state income taxes. The Fund also may have up to 100% of its assets in securities that pay interest subject to the federal alternative minimum tax.
The Fund may invest in municipal securities rated in any rating category (or unrated or short-term rated securities of comparable credit quality), including municipal securities rated A or lower by one or more U.S. nationally recognized rating services (or unrated or short-term rated securities of comparable credit quality), below investment grade securities (or "junk bonds") and defaulted securities.
The Fund also may invest up to 15% of its total assets in municipal securities issued by U.S. territories.
The Fund may invest in securities of any maturity or duration. The Fund may also invest in municipal securities that are covered by insurance policies that guarantee the timely payment of principal and interest.
The Fund is a "non-diversified" fund, which means it generally invests a greater proportion of its assets in the securities of one or more issuers and invests overall in a smaller number of issuers than a diversified fund.
Although the investment manager searches for investments across a large number of municipal securities that finance different types of projects, from time to time, based on economic conditions, the Fund may have significant positions in municipal securities that finance similar types of projects.
The investment manager selects securities that it believes will provide the best balance between risk and return within the Fund’s range of allowable investments and typically invests with a long-term time horizon. This means it generally holds
securities in the Fund’s portfolio for income purposes, although the investment manager may sell a security at any time if it believes it could help the Fund meet its goal. With a focus on income, individual securities are considered for purchase or sale based on various factors and considerations, including credit profile, risk, structure, pricing, portfolio impact, duration management, restructuring, opportunistic trading and tax loss harvesting opportunities.
When selecting securities for the Fund’s portfolio, the investment manager may consider existing market conditions, the availability of lower-rated securities, and whether the difference in yields between higher and lower-rated securities justifies the higher risk of lower-rated securities. Thus, there may be times when the Fund has a majority of its investments in securities that are considered investment grade.
FQCHX - Performance
Return Ranking - Trailing
Period | FQCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.4% | -2.6% | 33.5% | 67.90% |
1 Yr | 1.8% | -4.8% | 29.8% | 88.94% |
3 Yr | -1.8%* | -11.0% | 6103.8% | 75.21% |
5 Yr | N/A* | -4.9% | 1103.3% | N/A |
10 Yr | N/A* | -0.3% | 248.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | FQCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2022 | -17.4% | -40.2% | 0.3% | 94.10% |
2021 | 2.5% | -5.6% | 6.9% | 2.55% |
2020 | 0.7% | -2.6% | 310.0% | 88.42% |
2019 | N/A | 0.0% | 26.0% | N/A |
2018 | N/A | -25.2% | 11.0% | N/A |
Total Return Ranking - Trailing
Period | FQCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.4% | -2.6% | 33.5% | 67.90% |
1 Yr | 1.8% | -4.8% | 29.8% | 88.94% |
3 Yr | -1.8%* | -11.0% | 6103.8% | 75.21% |
5 Yr | N/A* | -4.9% | 1103.3% | N/A |
10 Yr | N/A* | -0.3% | 248.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FQCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2022 | -13.9% | -40.2% | 1.1% | 92.80% |
2021 | 6.3% | -4.8% | 23761504.0% | 1.57% |
2020 | 4.5% | -1.5% | 17127.1% | 39.22% |
2019 | N/A | 0.2% | 3514.6% | N/A |
2018 | N/A | -11.3% | 15.0% | N/A |
NAV & Total Return History
FQCHX - Holdings
Concentration Analysis
FQCHX | Category Low | Category High | FQCHX % Rank | |
---|---|---|---|---|
Net Assets | 3.8 M | 3.48 M | 68.1 B | 99.49% |
Number of Holdings | 30 | 2 | 13001 | 99.30% |
Net Assets in Top 10 | 1.85 M | -317 M | 5.07 B | 98.47% |
Weighting of Top 10 | 47.57% | 1.4% | 100.2% | 3.00% |
Top 10 Holdings
- California Statewide Communities Development Authority, Series 2008 B 7.70%
- California Statewide Communities Development Authority, Series 2016 A 6.28%
- University of California, Series 2013 AL-4 5.13%
- California Statewide Communities Development Authority, Series 2019 4.78%
- California Community Housing Agency, Series 2019 A 4.24%
- California Community Choice Financing Authority, Series 2023 C 3.99%
- California Municipal Finance Authority, Series 2022 3.91%
- California Municipal Finance Authority, Series 2022 D 3.90%
- California Municipal Finance Authority, Series 2022 B 3.87%
- California Municipal Finance Authority, Series 2022 C 3.79%
Asset Allocation
Weighting | Return Low | Return High | FQCHX % Rank | |
---|---|---|---|---|
Bonds | 86.56% | 0.00% | 150.86% | 98.09% |
Cash | 15.39% | -50.86% | 48.14% | 0.51% |
Stocks | 0.00% | 0.00% | 99.82% | 99.55% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 99.43% |
Other | 0.00% | -8.54% | 33.35% | 92.87% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 99.36% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FQCHX % Rank | |
---|---|---|---|---|
Municipal | 99.10% | 44.39% | 100.00% | 38.24% |
Cash & Equivalents | 15.39% | 0.00% | 48.14% | 0.45% |
Derivative | 0.00% | -8.54% | 24.50% | 92.55% |
Securitized | 0.00% | 0.00% | 5.93% | 99.04% |
Corporate | 0.00% | 0.00% | 9.41% | 99.10% |
Government | 0.00% | 0.00% | 52.02% | 99.04% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FQCHX % Rank | |
---|---|---|---|---|
US | 86.56% | 0.00% | 142.23% | 97.58% |
Non US | 0.00% | 0.00% | 23.89% | 99.43% |
FQCHX - Expenses
Operational Fees
FQCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.37% | 0.03% | 20.65% | 1.60% |
Management Fee | 0.00% | 0.00% | 1.20% | 1.15% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
FQCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
FQCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
FQCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 2.74% | 0.00% | 283.00% | 0.69% |
FQCHX - Distributions
Dividend Yield Analysis
FQCHX | Category Low | Category High | FQCHX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.77% | 0.00% | 4.57% | 99.49% |
Dividend Distribution Analysis
FQCHX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FQCHX | Category Low | Category High | FQCHX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.44% | -0.53% | 5.33% | 4.64% |
Capital Gain Distribution Analysis
FQCHX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 30, 2022 | $0.029 | OrdinaryDividend |
Oct 31, 2022 | $0.028 | OrdinaryDividend |
Sep 30, 2022 | $0.031 | OrdinaryDividend |
Aug 31, 2022 | $0.030 | OrdinaryDividend |
Jul 29, 2022 | $0.030 | OrdinaryDividend |
Jun 30, 2022 | $0.029 | OrdinaryDividend |
May 31, 2022 | $0.030 | OrdinaryDividend |
Apr 29, 2022 | $0.031 | OrdinaryDividend |
Mar 31, 2022 | $0.031 | OrdinaryDividend |
Feb 28, 2022 | $0.028 | OrdinaryDividend |
Jan 31, 2022 | $0.003 | OrdinaryDividend |
Dec 31, 2021 | $0.033 | OrdinaryDividend |
Nov 30, 2021 | $0.031 | OrdinaryDividend |
Oct 29, 2021 | $0.027 | OrdinaryDividend |
Sep 30, 2021 | $0.028 | OrdinaryDividend |
Aug 31, 2021 | $0.029 | OrdinaryDividend |
Jul 30, 2021 | $0.029 | OrdinaryDividend |
Jun 30, 2021 | $0.032 | OrdinaryDividend |
May 28, 2021 | $0.027 | OrdinaryDividend |
Apr 30, 2021 | $0.029 | OrdinaryDividend |
Mar 31, 2021 | $0.032 | OrdinaryDividend |
Feb 26, 2021 | $0.027 | OrdinaryDividend |
Jan 29, 2021 | $0.028 | OrdinaryDividend |
Dec 31, 2020 | $0.030 | OrdinaryDividend |
Nov 30, 2020 | $0.030 | OrdinaryDividend |
Oct 30, 2020 | $0.029 | OrdinaryDividend |
Sep 30, 2020 | $0.029 | OrdinaryDividend |
Aug 31, 2020 | $0.030 | OrdinaryDividend |
Jul 31, 2020 | $0.030 | OrdinaryDividend |
Jun 30, 2020 | $0.025 | OrdinaryDividend |
May 29, 2020 | $0.026 | OrdinaryDividend |
Apr 30, 2020 | $0.027 | OrdinaryDividend |
Mar 31, 2020 | $0.029 | OrdinaryDividend |
Feb 28, 2020 | $0.026 | OrdinaryDividend |
Jan 31, 2020 | $0.029 | OrdinaryDividend |
Dec 31, 2019 | $0.030 | DailyAccrualFund |
Nov 29, 2019 | $0.027 | DailyAccrualFund |
Oct 31, 2019 | $0.028 | DailyAccrualFund |
Sep 30, 2019 | $0.027 | DailyAccrualFund |
Aug 30, 2019 | $0.024 | DailyAccrualFund |
Jul 31, 2019 | $0.018 | DailyAccrualFund |
Jun 28, 2019 | $0.004 | OrdinaryDividend |
FQCHX - Fund Manager Analysis
Managers
John Wiley
Start Date
Tenure
Tenure Rank
Jun 03, 2019
2.99
3.0%
John Wiley, Senior Vice President, has been a lead portfolio manager since 1993. Wiley has been an analyst or portfolio manager with Franklin Templeton Investments, his employer since 1989. He holds the Chartered Financial Analyst designation.
Christopher Sperry
Start Date
Tenure
Tenure Rank
Jun 03, 2019
2.99
3.0%
Sperry has been an analyst or portfolio manager of Franklin Templeton Investments, his employer since 1996. Sperry holds the Chartered Financial Analyst designation.
Michael Conn
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Mr. Conn has been a portfolio manager of Franklin Advisers, Inc since November 2020. He joined Franklin Templeton in 2006.
John Bonelli
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Mr. Bonelli is a Portfolio Manager and Research Analyst of Franklin Advisers, Inc. He joined Franklin Templeton Investments in 2010.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.35 | 1.58 |