FRANKLIN STRATEGIC MORTGAGE PORTFOLIO
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-3.8%
1 yr return
-3.0%
3 Yr Avg Return
-4.3%
5 Yr Avg Return
-1.5%
Net Assets
$32.4 M
Holdings in Top 10
33.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.36%
SALES FEES
Front Load 3.75%
Deferred Load N/A
TRADING FEES
Turnover 278.91%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FSMFX - Profile
Distributions
- YTD Total Return -3.8%
- 3 Yr Annualized Total Return -4.3%
- 5 Yr Annualized Total Return -1.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.27%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFRANKLIN STRATEGIC MORTGAGE PORTFOLIO
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateMar 17, 2016
-
Shares Outstanding1896125
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Varunok
Fund Description
Under normal market conditions, the Fund invests at least 80% of its net assets in mortgage securities. The Fund invests significantly in mortgage securities that are issued or guaranteed by the U.S. government, its agencies or instrumentalities, which include mortgage pass-through securities representing interests in "pools" of mortgage loans issued or guaranteed by the Government National Mortgage Association (Ginnie Mae), Fannie Mae, and Freddie Mac. These securities may be fixed-rate or adjustable-rate mortgage securities (ARMS). Securities issued by different government agencies or instrumentalities have different levels of credit support.
The Fund may purchase or sell mortgage-backed securities on a delayed delivery or forward commitment basis through the "to-be-announced" (TBA) market. With TBA transactions, the particular securities to be delivered must meet specified terms and conditions.
The Fund also invests in other types of mortgage securities including, but not limited to, certain ARMS, commercial mortgage-backed securities (CMBS), non-agency residential mortgage-backed securities (RMBS), credit risk transfer securities, home equity loan asset-backed securities (HELs), manufactured housing asset-backed securities (MHs), and collateralized mortgage obligations (CMOs), as well as in other mortgage-related asset-backed securities. Mortgage securities may include interests in reperforming loans (mortgage loans that are current but had been delinquent in the past). The Fund also may invest in U.S. Treasury securities. The Fund may invest a small portion of its assets directly in whole mortgage loans.
The Fund may invest up to 15% of its net assets in foreign securities, which may include non-U.S. dollar denominated foreign mortgage securities. In addition, the Fund may invest up to 20% of its net assets in high-yield, lower-quality securities rated, at the time of purchase, below BBB by S&P®, or Baa by Moody’s, respectively, or, if unrated, deemed to be of comparable quality by the investment manager. The Fund may also invest up to 33% of its total assets in mortgage dollar rolls.
For purposes of pursuing its investment goal, the Fund may enter into interest rate and credit related derivative instruments, including interest rate and credit default swaps and bond/interest rate futures contracts. The Fund may also enter into currency-related derivative transactions, including currency forwards and currency swaps. The Fund may use these derivative instruments for hedging purposes or for other investment purposes, including to generate income, to increase liquidity and/or to gain exposure to certain instruments or markets in a more efficient or less expensive way. The use of credit default swaps may allow the Fund to obtain net long or short exposure to select credit risks.
FSMFX - Performance
Return Ranking - Trailing
Period | FSMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -3.8% | -12.1% | 2.8% | 93.43% |
1 Yr | -3.0% | -10.5% | 10.4% | 91.12% |
3 Yr | -4.3%* | -11.0% | 24.7% | 80.65% |
5 Yr | -1.5%* | -7.0% | 190.5% | 96.47% |
10 Yr | N/A* | -2.6% | 73.3% | 81.84% |
* Annualized
Return Ranking - Calendar
Period | FSMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.3% | -16.2% | 8.1% | 80.82% |
2022 | -13.7% | -34.7% | 131.9% | 8.57% |
2021 | -3.0% | -11.6% | 4.4% | 36.10% |
2020 | 1.3% | -10.1% | 946.1% | 92.73% |
2019 | 2.2% | -1.7% | 16.9% | 95.18% |
Total Return Ranking - Trailing
Period | FSMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -3.8% | -12.1% | 2.8% | 93.43% |
1 Yr | -3.0% | -10.5% | 10.4% | 91.12% |
3 Yr | -4.3%* | -11.0% | 24.7% | 80.65% |
5 Yr | -1.5%* | -7.0% | 190.5% | 96.47% |
10 Yr | N/A* | -2.6% | 73.3% | 89.98% |
* Annualized
Total Return Ranking - Calendar
Period | FSMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.5% | -11.3% | 11.0% | 91.31% |
2022 | -11.8% | -32.2% | 131.9% | 9.69% |
2021 | -1.3% | -9.4% | 9.2% | 63.90% |
2020 | 3.6% | -1.9% | 1009.0% | 96.81% |
2019 | 5.8% | 1.1% | 21668.0% | 95.98% |
NAV & Total Return History
FSMFX - Holdings
Concentration Analysis
FSMFX | Category Low | Category High | FSMFX % Rank | |
---|---|---|---|---|
Net Assets | 32.4 M | 2.9 M | 314 B | 96.65% |
Number of Holdings | 287 | 1 | 17889 | 79.59% |
Net Assets in Top 10 | 10.9 M | -106 M | 36.5 B | 95.27% |
Weighting of Top 10 | 33.53% | 4.4% | 134.1% | 27.78% |
Top 10 Holdings
- FNMA, 30 Year 4.75%
- FHLMC Pool, 30 Year 4.46%
- FNMA, 30 Year 3.58%
- Institutional Fiduciary Trust - Money Market Portfolio 3.16%
- FHLMC Pool, 15 Year 2.97%
- GNMA II, Single-family, 30 Year 2.97%
- FHLMC Pool, 30 Year 2.96%
- FHLMC Pool, 30 Year 2.94%
- FNMA, 30 Year 2.89%
- FNMA, 30 Year 2.86%
Asset Allocation
Weighting | Return Low | Return High | FSMFX % Rank | |
---|---|---|---|---|
Bonds | 93.64% | 0.00% | 215.98% | 58.07% |
Other | 3.73% | -13.23% | 50.66% | 54.14% |
Cash | 3.16% | -54.51% | 79.52% | 45.56% |
Stocks | 0.00% | 0.00% | 99.93% | 78.84% |
Preferred Stocks | 0.00% | 0.00% | 74.68% | 76.43% |
Convertible Bonds | 0.00% | 0.00% | 7.93% | 95.33% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FSMFX % Rank | |
---|---|---|---|---|
Securitized | 84.57% | 0.00% | 98.40% | 3.57% |
Government | 12.70% | 0.00% | 86.23% | 80.34% |
Cash & Equivalents | 3.16% | 0.00% | 76.23% | 43.29% |
Derivative | 0.40% | -3.37% | 50.66% | 27.22% |
Corporate | 0.20% | 0.00% | 100.00% | 97.22% |
Municipal | 0.11% | 0.00% | 100.00% | 66.24% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FSMFX % Rank | |
---|---|---|---|---|
US | 93.64% | 0.00% | 215.98% | 50.30% |
Non US | 0.00% | 0.00% | 39.04% | 79.78% |
FSMFX - Expenses
Operational Fees
FSMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.36% | 0.01% | 39.10% | 14.02% |
Management Fee | 0.40% | 0.00% | 1.76% | 66.83% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 50.10% |
Administrative Fee | 0.15% | 0.01% | 0.50% | 76.62% |
Sales Fees
FSMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 3.75% | 2.00% | 5.75% | 68.57% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FSMFX 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.
FSMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 278.91% | 2.00% | 493.39% | 82.62% |
FSMFX - Distributions
Dividend Yield Analysis
FSMFX | Category Low | Category High | FSMFX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.25% | 0.00% | 10.22% | 84.45% |
Dividend Distribution Analysis
FSMFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
FSMFX | Category Low | Category High | FSMFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.27% | -1.28% | 4.79% | 98.55% |
Capital Gain Distribution Analysis
FSMFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.020 | OrdinaryDividend |
Feb 29, 2024 | $0.020 | DailyAccrualFund |
Jan 31, 2024 | $0.020 | DailyAccrualFund |
Dec 29, 2023 | $0.020 | DailyAccrualFund |
Nov 30, 2023 | $0.020 | DailyAccrualFund |
Oct 31, 2023 | $0.019 | DailyAccrualFund |
Sep 29, 2023 | $0.020 | DailyAccrualFund |
Aug 31, 2023 | $0.019 | DailyAccrualFund |
Jul 31, 2023 | $0.017 | DailyAccrualFund |
Jun 30, 2023 | $0.020 | DailyAccrualFund |
May 31, 2023 | $0.019 | DailyAccrualFund |
Apr 28, 2023 | $0.017 | DailyAccrualFund |
Mar 31, 2023 | $0.019 | DailyAccrualFund |
Feb 28, 2023 | $0.018 | DailyAccrualFund |
Jan 31, 2023 | $0.017 | DailyAccrualFund |
Dec 30, 2022 | $0.019 | DailyAccrualFund |
Nov 30, 2022 | $0.018 | DailyAccrualFund |
Oct 31, 2022 | $0.016 | DailyAccrualFund |
Sep 30, 2022 | $0.017 | DailyAccrualFund |
Aug 31, 2022 | $0.015 | DailyAccrualFund |
Jul 29, 2022 | $0.016 | DailyAccrualFund |
Jun 30, 2022 | $0.016 | DailyAccrualFund |
May 31, 2022 | $0.014 | DailyAccrualFund |
Apr 29, 2022 | $0.012 | DailyAccrualFund |
Mar 31, 2022 | $0.011 | DailyAccrualFund |
Feb 28, 2022 | $0.009 | DailyAccrualFund |
Jan 31, 2022 | $0.008 | DailyAccrualFund |
Dec 31, 2021 | $0.015 | DailyAccrualFund |
Nov 30, 2021 | $0.011 | DailyAccrualFund |
Oct 29, 2021 | $0.010 | DailyAccrualFund |
Sep 30, 2021 | $0.012 | DailyAccrualFund |
Aug 31, 2021 | $0.012 | DailyAccrualFund |
Jul 30, 2021 | $0.012 | DailyAccrualFund |
Jun 30, 2021 | $0.014 | DailyAccrualFund |
May 28, 2021 | $0.011 | DailyAccrualFund |
Apr 30, 2021 | $0.012 | DailyAccrualFund |
Mar 31, 2021 | $0.013 | DailyAccrualFund |
Feb 26, 2021 | $0.012 | DailyAccrualFund |
Jan 29, 2021 | $0.011 | DailyAccrualFund |
Dec 31, 2020 | $0.012 | DailyAccrualFund |
Nov 30, 2020 | $0.011 | DailyAccrualFund |
Oct 30, 2020 | $0.010 | DailyAccrualFund |
Sep 30, 2020 | $0.012 | DailyAccrualFund |
Aug 31, 2020 | $0.013 | DailyAccrualFund |
Jul 31, 2020 | $0.015 | DailyAccrualFund |
Jun 30, 2020 | $0.017 | DailyAccrualFund |
May 29, 2020 | $0.017 | DailyAccrualFund |
Apr 30, 2020 | $0.018 | DailyAccrualFund |
Mar 31, 2020 | $0.022 | DailyAccrualFund |
Feb 28, 2020 | $0.019 | DailyAccrualFund |
Jan 31, 2020 | $0.021 | DailyAccrualFund |
Dec 31, 2019 | $0.021 | DailyAccrualFund |
Nov 29, 2019 | $0.023 | DailyAccrualFund |
Oct 31, 2019 | $0.023 | DailyAccrualFund |
Sep 30, 2019 | $0.023 | DailyAccrualFund |
Aug 30, 2019 | $0.024 | DailyAccrualFund |
Jul 31, 2019 | $0.026 | DailyAccrualFund |
Jun 28, 2019 | $0.023 | DailyAccrualFund |
May 31, 2019 | $0.024 | DailyAccrualFund |
Apr 30, 2019 | $0.026 | DailyAccrualFund |
Mar 29, 2019 | $0.023 | DailyAccrualFund |
Feb 28, 2019 | $0.025 | DailyAccrualFund |
Jan 31, 2019 | $0.025 | DailyAccrualFund |
Dec 31, 2018 | $0.032 | DailyAccrualFund |
Nov 30, 2018 | $0.026 | DailyAccrualFund |
Oct 31, 2018 | $0.026 | DailyAccrualFund |
Aug 31, 2018 | $0.025 | DailyAccrualFund |
Jul 31, 2018 | $0.025 | DailyAccrualFund |
Jun 29, 2018 | $0.025 | DailyAccrualFund |
May 31, 2018 | $0.025 | DailyAccrualFund |
Apr 30, 2018 | $0.028 | DailyAccrualFund |
Mar 29, 2018 | $0.022 | DailyAccrualFund |
Feb 28, 2018 | $0.024 | DailyAccrualFund |
Jan 31, 2018 | $0.025 | DailyAccrualFund |
Dec 29, 2017 | $0.021 | DailyAccrualFund |
Nov 30, 2017 | $0.034 | DailyAccrualFund |
Oct 31, 2017 | $0.016 | DailyAccrualFund |
Sep 29, 2017 | $0.022 | DailyAccrualFund |
Aug 31, 2017 | $0.023 | DailyAccrualFund |
Jul 31, 2017 | $0.023 | DailyAccrualFund |
Jun 30, 2017 | $0.027 | DailyAccrualFund |
May 31, 2017 | $0.027 | DailyAccrualFund |
Apr 28, 2017 | $0.027 | DailyAccrualFund |
Mar 31, 2017 | $0.023 | DailyAccrualFund |
Feb 28, 2017 | $0.019 | DailyAccrualFund |
Jan 31, 2017 | $0.024 | DailyAccrualFund |
Dec 30, 2016 | $0.018 | DailyAccrualFund |
Nov 30, 2016 | $0.019 | DailyAccrualFund |
Oct 31, 2016 | $0.018 | DailyAccrualFund |
Sep 30, 2016 | $0.018 | DailyAccrualFund |
Aug 31, 2016 | $0.022 | DailyAccrualFund |
Jul 29, 2016 | $0.017 | DailyAccrualFund |
Jun 30, 2016 | $0.016 | DailyAccrualFund |
May 31, 2016 | $0.016 | DailyAccrualFund |
Apr 29, 2016 | $0.014 | DailyAccrualFund |
Mar 31, 2016 | $0.015 | DailyAccrualFund |
Feb 29, 2016 | $0.016 | DailyAccrualFund |
Jan 29, 2016 | $0.015 | DailyAccrualFund |
Dec 31, 2015 | $0.020 | DailyAccrualFund |
Nov 30, 2015 | $0.016 | DailyAccrualFund |
Oct 30, 2015 | $0.015 | DailyAccrualFund |
Sep 30, 2015 | $0.019 | DailyAccrualFund |
Aug 31, 2015 | $0.016 | DailyAccrualFund |
Jul 31, 2015 | $0.017 | DailyAccrualFund |
Jun 30, 2015 | $0.022 | DailyAccrualFund |
May 29, 2015 | $0.017 | DailyAccrualFund |
Apr 30, 2015 | $0.016 | DailyAccrualFund |
Mar 31, 2015 | $0.020 | DailyAccrualFund |
Feb 27, 2015 | $0.018 | DailyAccrualFund |
Jan 30, 2015 | $0.015 | DailyAccrualFund |
Dec 31, 2014 | $0.020 | DailyAccrualFund |
Nov 28, 2014 | $0.016 | DailyAccrualFund |
Oct 31, 2014 | $0.017 | DailyAccrualFund |
Sep 30, 2014 | $0.020 | DailyAccrualFund |
Aug 29, 2014 | $0.017 | DailyAccrualFund |
Jul 31, 2014 | $0.033 | DailyAccrualFund |
Jun 30, 2014 | $0.035 | DailyAccrualFund |
May 30, 2014 | $0.033 | DailyAccrualFund |
Apr 30, 2014 | $0.033 | DailyAccrualFund |
Mar 31, 2014 | $0.033 | DailyAccrualFund |
Feb 28, 2014 | $0.035 | DailyAccrualFund |
Jan 31, 2014 | $0.036 | DailyAccrualFund |
Dec 31, 2013 | $0.039 | DailyAccrualFund |
Nov 29, 2013 | $0.042 | DailyAccrualFund |
Oct 31, 2013 | $0.035 | DailyAccrualFund |
Sep 30, 2013 | $0.040 | DailyAccrualFund |
Aug 30, 2013 | $0.036 | DailyAccrualFund |
Jul 31, 2013 | $0.033 | DailyAccrualFund |
Jun 28, 2013 | $0.025 | DailyAccrualFund |
May 31, 2013 | $0.026 | DailyAccrualFund |
Apr 30, 2013 | $0.030 | DailyAccrualFund |
Mar 28, 2013 | $0.025 | DailyAccrualFund |
Feb 28, 2013 | $0.027 | DailyAccrualFund |
Jan 31, 2013 | $0.026 | DailyAccrualFund |
Dec 31, 2012 | $0.025 | DailyAccrualFund |
Nov 30, 2012 | $0.027 | DailyAccrualFund |
Oct 31, 2012 | $0.028 | DailyAccrualFund |
Sep 28, 2012 | $0.023 | DailyAccrualFund |
Aug 31, 2012 | $0.025 | DailyAccrualFund |
Jul 31, 2012 | $0.025 | DailyAccrualFund |
Jun 29, 2012 | $0.024 | DailyAccrualFund |
May 31, 2012 | $0.027 | DailyAccrualFund |
Apr 30, 2012 | $0.028 | DailyAccrualFund |
Mar 30, 2012 | $0.027 | DailyAccrualFund |
Feb 29, 2012 | $0.028 | DailyAccrualFund |
FSMFX - Fund Manager Analysis
Managers
Paul Varunok
Start Date
Tenure
Tenure Rank
Dec 31, 2001
20.43
20.4%
Mr. Varunok is portfolio manager of Franklin Advisers. He joined Franklin Templeton Investments in 2001. Previously, Varunok was a fixed-income analyst for Prudential Securities, Inc.
David Yuen
Start Date
Tenure
Tenure Rank
Dec 31, 2005
16.42
16.4%
David Yuen joined Franklin Templeton Investments in 2000.He was appointed Chief Investment Officer of Global Long/Short Absolute Return Strategy in 2010. Previously, he was co-CIO of US Large Cap Value Equities and CIO of the Advanced Value Fund (since 2009), as well as director of research for US Large Cap Value (since early 2008). Yuen had been the director of research for Emerging Markets Value since August 2002. He joined Bernstein in 1998 as a research analyst, covering the global retailing industry, and became a senior research analyst in 1999, covering retail, textile & apparel, gaming & lodging, and consumer appliances. Prior to joining Bernstein, Yuen worked as a senior vice president of The Coleman Company from 1994 to 1998. From 1988 to 1994, he was a consultant, then partner, at WKI, a management-consulting firm specializing in emerging-market strategies. Prior to that, Yuen was a consultant with Bain & Company. He received a BS in operations research from Columbia University’s School of Engineering in 1986. Location: New York
Neil Dhruv
Start Date
Tenure
Tenure Rank
Oct 24, 2019
2.6
2.6%
Portfolio Manager of FT Institutional and portfolio manager of FRANKLIN STRATEGIC MORTGAGE PORTFOLIO since October 2019.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.43 | 6.81 | 1.16 |