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Trending ETFs

Name

As of 02/16/2024

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

$9.70

$99.8 M

3.24%

$0.31

1.20%

Vitals

YTD Return

-0.1%

1 yr return

5.4%

3 Yr Avg Return

2.4%

5 Yr Avg Return

4.6%

Net Assets

$99.8 M

Holdings in Top 10

53.1%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 41.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

$1,000,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 02/16/2024

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

$9.70

$99.8 M

3.24%

$0.31

1.20%

LRRIX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 4.6%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.44%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Franklin Strategic Real Return Fund
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Mar 01, 2010
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    S. Leech

Fund Description

Under normal market conditions, the fund, using a tactical asset allocation program, seeks to provide an attractive long-term real return. The fund defines real return as total return reduced by the impact of inflation.
In seeking to meet its investment goal, the fund implements a tactical asset allocation program overseen by the fund’s adviser, Franklin Advisers, Inc. (“Franklin Advisers”). The fund may allocate its assets among five investment “sleeves” which the adviser believes are generally complementary to each other, with the following target allocations of the fund’s net assets:
Inflation-Linked Debt Securities (40%)
Global Inflation-Sensitive Equity (20%)
Commodity-Linked Securities (20%)
Real Estate Investment Trusts (“REITs”) and Exchange-Traded Funds (“ETFs”) that invest in REITs (10%)
Tactical Strategy (10%)
Actual allocations may deviate from each target allocation shown above by up to 50% of such target allocation.
The composition and asset allocation of the fund’s investment portfolio will vary over time, based on Franklin Advisers’ overall allocation decisions, and may be changed without shareholder approval. Asset allocation decisions are based primarily on Franklin Advisers’ evaluation of the relative attractiveness of the asset classes in which the fund invests.
The fund utilizes a “multi-manager” approach, whereby each subadviser and the adviser provide day‑to‑day management for one or more of the investment sleeves. Each subadviser and the adviser use different investment strategies in managing the sleeves, act independently from the others in their management of the investment sleeve for which they are responsible, and use their own methodology for selecting investments. Currently, Western Asset Management Company, LLC (“Western Asset”), Western Asset Management Company Limited in London (“WAML”) and Western Asset Management Company Ltd. in Japan (“Western Japan”) manage the Inflation-Linked Debt Securities Sleeve, and Franklin Advisers manages the Global Inflation-Sensitive Equity Sleeve, the Commodity-Linked Securities Sleeve, the REITs Sleeve and the Tactical Strategy Sleeve. Franklin Advisers may also allocate a portion of the fund’s assets to ClearBridge Investments, LLC, either in place of, or in addition to, the subadvisers named above.
Under normal market conditions, the Inflation-Linked Debt Securities Sleeve invests at least 80% of its net assets in inflation-indexed fixed income securities and at least 70% of its net assets in U.S. Treasury Inflation-Protected Securities (“TIPS”). The sleeve may also invest in foreign and domestic bonds, debentures and notes and high yield securities. Although the sleeve is expected to maintain a dollar-weighted average credit quality of at least A or equivalent, it may invest up to 10% of its net assets in securities rated below investment grade (commonly known as “junk bonds”). Investment grade securities are securities rated at the time of purchase by a nationally recognized statistical ratings organization (“NRSRO”) within one of the top four categories, or, if unrated, determined by the applicable subadviser to be of comparable credit quality. Although the sleeve may invest in fixed income securities of any maturity, the target average effective duration of the sleeve is expected to range within 3 years of the Bloomberg U.S. Treasury Inflation-linked Bond (“U.S. TIPS”) Index. Based on the securities that make up the U.S. TIPS Index, the range within which the average effective duration of the sleeve is currently expected to fluctuate is 6‑12 years, although this may vary. The sleeve may also buy or sell protection in connection with credit default swaps relating to corporate debt securities. The notional amount of the credit default swaps will not exceed 20% of the sleeve’s net assets at the time of investment. The sleeve’s portfolio managers employ an active process that is both top‑down and bottom‑up. The portfolio managers believe that unique value opportunities can be identified through in‑depth and disciplined issue, issuer and sub‑sector selection. Duration management, yield curve positioning and sector exposure driven by long-term perceptions of economic behavior and relative valuations are integral to the portfolio managers’ investment process.
Under normal market conditions, the Global Inflation-Sensitive Equity Sleeve invests primarily in the common stock of domestic and foreign issuers, particularly issuers that have historically shown higher than average correlations to the components (core and food/energy) of the U.S. Consumer Price Index (“CPI”). The sleeve may invest in both U.S. and non‑U.S. issuers, and may invest up to 20% of its net assets in securities of issuers located in emerging markets. The sleeve may invest in securities of companies of any market capitalization, including large-, mid‑ and small-capitalization companies. The sleeve usually invests in securities listed on securities exchanges, although it may invest up to 10% of its net assets in securities that are not registered for sale to the general public. The sleeve may invest directly in foreign securities or may invest in depositary receipts for securities of foreign issuers. The sleeve may, but is not required to, enter into forward currency transactions to buy or sell currencies at a future date. The sleeve may enter into these forward currency contracts only to settle transactions in securities quoted in foreign currencies and for hedging purposes. The sleeve may invest in exchange-traded funds (“ETFs”) and other investment companies to pursue its strategies. The sleeve’s portfolio managers use a blend of quantitative and fundamental investment techniques to select investments.
Under normal market conditions, the Commodity-Linked Securities Sleeve invests primarily in a combination of commodity-linked instruments that provide exposure to the investment returns of the commodities markets, without investing directly in physical commodities. These instruments include master limited partnerships (“MLPs”), structured notes, bonds, debentures and derivatives, including swaps, forwards, futures and options. The sleeve may invest in these instruments through a wholly-owned subsidiary managed by Franklin Advisers, other investment companies, ETFs and exchange-traded notes (“ETNs”) and may invest in cash, cash equivalents, money market funds or other similar instruments. Commodities are assets that have tangible properties, such as oil, metals and agricultural products. The sleeve’s portfolio managers use fundamental investment techniques to select investments.
Under normal market conditions, the REITs Sleeve attempts to obtain exposure to the investment returns of the real estate markets by investing directly in equity securities issued by REITs and in ETFs that invest in such securities.
Under normal market conditions, the Tactical Strategy Sleeve attempts to diversify the fund’s risk exposure by investing in asset classes that Franklin Advisers believes will deliver returns that are not highly correlated with those of the fund’s other asset classes. To achieve this goal, the sleeve uses a variety of fundamental and quantitative asset allocation and investment techniques. Determination of asset class exposure and selection of investment techniques depends on Franklin Advisers’ analysis of economic trends and Franklin Advisers’ predictions as to how various instruments and markets will correlate to one another and to economic developments. The sleeve may invest in investment companies, including ETFs, that hold domestic and foreign (including emerging markets) equity and fixed income securities, cash, cash equivalents and/or Treasury bonds. The fund may invest in “short” ETFs that seek a return similar to the inverse, or a multiple of the inverse, of a reference index. Certain investment companies and/or ETFs that the fund may invest in are benchmarked to indices that use a futures-based momentum methodology in an attempt to track prices of commodity and financial futures contracts. Investment companies using this methodology typically short the market when quantitative models anticipate declining prices. The sleeve may invest in futures to gain exposure to equity and fixed income markets and may invest in equity and equity volatility options to attempt to mitigate the effects of large unexpected declines in equity and other capital markets. The sleeve may also invest in certain currency derivatives in connection with the fund’s target net exposure to non‑U.S. Dollar currencies.
Under normal market conditions, the fund expects to target a 50% net exposure to the U.S. Dollar (“USD”). Each subadviser manages its sleeve’s currency exposure independently of the fund’s overall USD exposure target. Franklin Advisers will monitor and calculate the fund’s currency exposure
daily. For purposes of this calculation, currency exposure will be determined by the local currency of a security’s issuer. To maintain the fund’s target currency exposure, Franklin Advisers will purchase (as needed) currency instruments such as currency swaps and forward currency contracts using assets from the Tactical Strategy Sleeve. Franklin Advisers will purchase currency instruments based on its analysis of which foreign currencies it believes may provide the most effective hedges against future increases in U.S. inflation. At times, the fund may deviate either up or down from its target currency allocation due to market conditions. In addition, the fund at times may be both long and short foreign currencies in its non‑USD allocation. The fund will not necessarily hedge its foreign currency exposure.
The fund may borrow money, including for investment and cash management purposes, in amounts up to 33‑1/3% of the fund’s total assets, including borrowings, a practice known as “leveraging.” In addition, the fund may engage in transactions that have a leveraging effect on the fund, including investments in derivatives such as futures and options for hedging and non‑hedging purposes. The fund may invest a significant portion of its assets in these types of investments.
The fund is classified as “non‑diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
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LRRIX - Performance

Return Ranking - Trailing

Period LRRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.9% 11.2% 69.87%
1 Yr 5.4% -7.9% 73.9% 67.98%
3 Yr 2.4%* -26.0% 9.4% 33.19%
5 Yr 4.6%* -11.7% 20.5% 49.29%
10 Yr 1.7%* -5.0% 9.2% 89.21%

* Annualized

Return Ranking - Calendar

Period LRRIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.1% -18.9% 60.2% 76.86%
2022 -18.6% -48.5% 0.1% 65.94%
2021 -1.3% -19.0% 48.3% 71.49%
2020 1.5% -16.5% 52.8% 75.12%
2019 12.2% -8.5% 27.3% 38.68%

Total Return Ranking - Trailing

Period LRRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.9% 11.2% 69.87%
1 Yr 5.4% -7.9% 73.9% 67.98%
3 Yr 2.4%* -26.0% 9.4% 33.19%
5 Yr 4.6%* -11.7% 20.5% 49.29%
10 Yr 1.7%* -5.0% 9.2% 89.21%

* Annualized

Total Return Ranking - Calendar

Period LRRIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -11.7% 61.8% 70.74%
2022 -9.5% -48.5% 4.6% 23.14%
2021 16.1% -14.2% 48.3% 18.86%
2020 3.8% -11.7% 77.4% 76.04%
2019 16.5% -3.9% 30.2% 28.77%

NAV & Total Return History


LRRIX - Holdings

Concentration Analysis

LRRIX Category Low Category High LRRIX % Rank
Net Assets 99.8 M 1.67 M 13.2 B 64.07%
Number of Holdings 238 2 1893 13.85%
Net Assets in Top 10 53 M -18.4 M 10.1 B 66.67%
Weighting of Top 10 53.11% -86.0% 149.2% 75.76%

Top 10 Holdings

  1. STIT - Government Agency Portfolio 22.99%
  2. United States Treasury Inflation Indexed Bonds 5.27%
  3. United States Treasury Inflation Indexed Bonds 4.28%
  4. iShares Global Infrastructure ETF 4.07%
  5. United States Treasury Inflation Indexed Bonds 4.04%
  6. United States Treasury Inflation Indexed Bonds 3.03%
  7. United States Treasury Inflation Indexed Bonds 2.81%
  8. United States Treasury Inflation Indexed Bonds 2.61%
  9. United States Treasury Inflation Indexed Bonds 2.15%
  10. United States Treasury Inflation Indexed Bonds 1.87%

Asset Allocation

Weighting Return Low Return High LRRIX % Rank
Stocks
56.74% 0.00% 135.63% 69.26%
Bonds
42.20% 0.00% 106.59% 16.88%
Cash
1.70% -33.22% 203.47% 75.32%
Preferred Stocks
0.00% 0.00% 5.36% 25.97%
Convertible Bonds
0.00% 0.00% 8.92% 58.01%
Other
-0.63% -175.70% 149.98% 86.15%

Stock Sector Breakdown

Weighting Return Low Return High LRRIX % Rank
Real Estate
30.04% 0.00% 99.45% 7.61%
Technology
14.78% 0.00% 85.77% 56.35%
Industrials
10.81% 0.00% 23.85% 26.90%
Healthcare
8.74% 0.00% 38.63% 73.10%
Financial Services
6.55% 0.00% 98.22% 82.74%
Energy
6.10% 0.00% 60.89% 44.67%
Basic Materials
6.07% 0.00% 56.73% 23.35%
Consumer Cyclical
6.05% 0.00% 25.83% 61.42%
Communication Services
5.63% 0.00% 21.61% 49.24%
Consumer Defense
5.22% 0.00% 37.51% 60.41%
Utilities
0.01% 0.00% 91.12% 86.29%

Stock Geographic Breakdown

Weighting Return Low Return High LRRIX % Rank
US
49.83% 0.00% 135.63% 69.70%
Non US
6.91% -1.94% 49.02% 19.48%

Bond Sector Breakdown

Weighting Return Low Return High LRRIX % Rank
Government
21.83% 0.00% 99.78% 56.71%
Corporate
1.10% 0.00% 98.28% 59.31%
Cash & Equivalents
0.26% 0.00% 93.38% 79.65%
Securitized
0.00% 0.00% 52.99% 54.98%
Municipal
0.00% 0.00% 19.13% 41.56%
Derivative
-0.63% -175.70% 149.98% 86.58%

Bond Geographic Breakdown

Weighting Return Low Return High LRRIX % Rank
US
42.20% 0.00% 92.67% 10.39%
Non US
0.00% 0.00% 29.59% 28.57%

LRRIX - Expenses

Operational Fees

LRRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.20% 0.49% 5.69% 73.59%
Management Fee 0.75% 0.00% 1.50% 38.53%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.70% N/A

Sales Fees

LRRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

LRRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

LRRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 1.75% 441.00% 20.74%

LRRIX - Distributions

Dividend Yield Analysis

LRRIX Category Low Category High LRRIX % Rank
Dividend Yield 3.24% 0.00% 12.14% 14.72%

Dividend Distribution Analysis

LRRIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

LRRIX Category Low Category High LRRIX % Rank
Net Income Ratio 0.44% -2.01% 13.72% 48.92%

Capital Gain Distribution Analysis

LRRIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

View More +

LRRIX - Fund Manager Analysis

Managers

S. Leech


Start Date

Tenure

Tenure Rank

Mar 31, 2014

8.17

8.2%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Joseph Giroux


Start Date

Tenure

Tenure Rank

May 30, 2014

8.01

8.0%

Joseph S. Giroux Member of the Portfolio Management team. Formerly a developed markets Portfolio Manager at Batterymarch Financial Management from 2012 to 2014. Prior to joining Batterymarch, he managed both US and non-US assets for 5 years at several firms—Golden Capital Management, Wells Capital Management and Evergreen Investments—that were affiliated with or acquired by Wells Fargo. He also served as a Portfolio Manager at TriPoint Asset Management and The Boston Company Asset Management. Education: BS in Computer Science from New England Institute of Technology.

Thomas Picciochi


Start Date

Tenure

Tenure Rank

May 30, 2014

8.01

8.0%

Tom Picciochi, CAIA Head of Multi-Asset Portfolio Management • Responsible for Multi-Asset portfolio management. • Formerly senior portfolio manager for Deutsche Asset Management’s Quantitative Strategies group, and member of the Global Tactical Asset Allocation Investment Oversight Committee and portfolio manager for Absolute Return Strategies from 1999 to 2010. Prior to joining Deutsche Asset Management, he held various research and analysis positions at State Street Global Advisors, FPL Energy, Barnett Bank, Trade Finance Corporation and Reserve Financial Management over a 13 year period. • Education: BA from University of Miami; MBA from University of Miami.

Frederick Marki


Start Date

Tenure

Tenure Rank

Aug 01, 2016

5.83

5.8%

Frederick R. Marki is a Portfolio manager of Western since 2005. He began his investment career in 1983 and has a BS from the Massachusetts Institute of Technology. Marki joined Western Asset in 2006. Prior to this, Marki was a director of Citigroup Asset Management and investment officer of the manager. and its predecessor companies.

Christopher Floyd


Start Date

Tenure

Tenure Rank

Feb 01, 2019

3.33

3.3%

Christopher W. Floyd, CFA Member of the Portfolio Management team. Formerly a developed markets Senior Portfolio Manager at Batterymarch Financial Management from 2012 to 2014. At Batterymarch, he also served as a Portfolio Manager from 2003 to 2012 and and Quantitative Analyst from 2000 to 2003. Prior to joining Batterymarch, he performed market analysis at Urban & Associates and worked with retirement plans at Bay State Federal Savings Bank. Education: BA in Economics from Dartmouth College; MBA from Cornell University.

Laura Green


Start Date

Tenure

Tenure Rank

Aug 07, 2021

0.81

0.8%

Laura Green, CFA Portfolio Manager • Member of the Portfolio Management group. During this time, she held portfolio manager and portfolio assistant positions. • Formerly at Deutsche Asset Management from 2007 – 2010. • Education: BA from University of Pennsylvania. "Laura Green is a vice president and portfolio manager within Franklin Templeton Investment Solutions. Ms. Green is responsible for asset allocation (multi-asset) strategies, including target-date, target-risk, volatility-controlled, ESG and customized solutions. Prior to joining Franklin Templeton, Ms. Green was a member of the Portfolio Management team at QS Investors, a quantitative multi-asset and equity manager, where she was responsible for managing similar strategies. QS Investors combined with Franklin Templeton Multi-Asset Solutions in October 2020 to create Franklin Templeton Investment Solutions. Before joining QS Investors in 2010, Ms .Green was a member of its predecessor, Deutsche Asset Management Quantitative Strategies group, where she held portfolio manager and portfolio assistant positions. Ms. Green holds a bachelor of arts in communication from the University of Pennsylvania. She also holds the Chartered Financial Analyst (CFA) designation"

Jacqueline Kenney


Start Date

Tenure

Tenure Rank

Aug 07, 2021

0.81

0.8%

Jacqueline Hurley, CFA, is a Portfolio Manager and a member of the Portfolio Management Group within QS Investors. Formerly at Deutsche Asset Management from 2008 – 2010. Prior to joining Deutsche Asset Management, she had 4 years of experience as a consultant at Bearing Point and Accenture. Ms. Hurley holds a B.A. in Computer Science from Colgate University and an M.B.A. in inance and Accounting from University of Michigan, Ross School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.56 13.0