Continue to site >
Trending ETFs

Franklin High Yield Corporate ETF

Active ETF
FLHY
Payout Change
Pending
Price as of:
$23.76 +0.11 +0.47%
primary theme
High Yield Bond
FLHY (ETF)

Franklin High Yield Corporate ETF

Payout Change
Pending
Price as of:
$23.76 +0.11 +0.47%
primary theme
High Yield Bond
FLHY (ETF)

Franklin High Yield Corporate ETF

Payout Change
Pending
Price as of:
$23.76 +0.11 +0.47%
primary theme
High Yield Bond

Name

As of 03/27/2024

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

$23.76

$257 M

6.06%

$1.44

0.40%

Vitals

YTD Return

2.5%

1 yr return

13.9%

3 Yr Avg Return

2.7%

5 Yr Avg Return

4.7%

Net Assets

$257 M

Holdings in Top 10

9.8%

52 WEEK LOW AND HIGH

$23.7
$21.93
$23.76

Expenses

OPERATING FEES

Expense Ratio 0.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 43.83%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 03/27/2024

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

$23.76

$257 M

6.06%

$1.44

0.40%

FLHY - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 4.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.62%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin High Yield Corporate ETF
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Jun 01, 2018
  • Shares Outstanding
    10600000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Glenn Voyles

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets in high yield corporate debt securities and investments that provide exposure to high yield corporate debt securities. High yield debt securities are those that are rated below investment grade, also known as “junk bonds.” High yield debt securities are rated at the time of purchase below the top four ratings categories by at least one independent rating agency such as S&P Global Ratings (S&P®) (rated BB+ and lower) and Moody’s Investors Service (Moody’s) (rated Ba1 and lower) 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.

Lower-rated securities generally pay higher yields than more highly rated securities to compensate investors for the higher risk. These securities include bonds; notes; debentures; convertible securities; bank loans and corporate loans; and senior and subordinated debt securities.

The Fund may invest up to 100% of its total assets in high yield debt securities. The Fund may buy both rated and unrated debt securities, including securities rated below B by Moody’s or S&P® (or deemed comparable by the Fund’s investment manager). The Fund may invest in fixed or floating rate corporate loans and corporate debt securities, including covenant lite loans. The Fund may also invest in defaulted debt securities. The Fund may invest in debt securities of any maturity or duration.

The Fund may invest in debt securities of U.S. and foreign issuers, including those in developing or emerging markets. These securities may be U.S. dollar or non-U.S. dollar denominated.

The Fund may purchase or receive equity securities, including in connection with restructurings.

The Fund may enter into certain derivative transactions, principally currency and cross currency forwards; and swap agreements, including interest rate 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. When used for hedging purposes, a forward contract could be used to protect against possible decline in a currency’s value when a security held or to be purchased by the Fund is denominated in that currency. Derivatives that provide exposure to high yield corporate debt securities may be used to satisfy the Fund’s 80% policy.

The Fund’s investment manager is a research driven, fundamental investor that relies on a team of analysts to provide in-depth industry expertise and uses both qualitative and quantitative analysis to evaluate issuers. As a “bottom-up” investor, the investment manager focuses primarily on individual securities. The investment manager also considers sectors when choosing investments. 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.

In selecting securities for the Fund’s investment portfolio, the investment manager does not rely principally on the ratings assigned by rating agencies, but performs its own independent investment analysis to evaluate the creditworthiness of the issuer. The investment manager considers a variety of factors, including the issuer’s experience and managerial strength, its sensitivity to economic conditions, and its current and prospective financial condition.

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.

 
Read More

FLHY - Performance

Return Ranking - Trailing

Period FLHY Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -4.9% 8.2% 7.80%
1 Yr 13.9% -4.3% 26.0% 7.51%
3 Yr 2.7%* -15.6% 20.6% 23.37%
5 Yr 4.7%* -11.2% 37.3% 12.61%
10 Yr N/A* -4.7% 19.5% 12.42%

* Annualized

Return Ranking - Calendar

Period FLHY Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -4.7% 14.3% 17.70%
2022 -15.9% -33.4% 3.6% 57.68%
2021 -1.5% -8.4% 14.9% 88.58%
2020 1.7% -13.9% 302.7% 16.81%
2019 9.9% -4.4% 13.3% 7.59%

Total Return Ranking - Trailing

Period FLHY Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -4.9% 8.2% 7.80%
1 Yr 13.9% -4.3% 26.0% 7.51%
3 Yr 2.7%* -15.6% 20.6% 23.37%
5 Yr 4.7%* -11.2% 37.3% 12.61%
10 Yr N/A* -4.7% 19.5% N/A

* Annualized

Total Return Ranking - Calendar

Period FLHY Return Category Return Low Category Return High Rank in Category (%)
2023 13.4% -4.7% 18.7% 18.01%
2022 -10.5% -33.4% 47.8% 45.30%
2021 4.0% -8.4% 24.8% 72.92%
2020 7.8% -9.6% 325.6% 12.94%
2019 16.4% -3.8% 21.5% 7.41%

FLHY - Holdings

Concentration Analysis

FLHY Category Low Category High FLHY % Rank
Net Assets 257 M 1.85 M 22.6 B 67.28%
Number of Holdings 207 2 2736 72.53%
Net Assets in Top 10 24 M -492 M 4.45 B 76.39%
Weighting of Top 10 9.76% 4.2% 149.6% 80.40%

Top 10 Holdings

  1. Federal Home Loan Bank Discount Notes 1.24%
  2. Jaguar Land Rover Automotive PLC 0.99%
  3. TransDigm Inc 0.98%
  4. Harbour Energy PLC 0.96%
  5. Carnival Corp 0.95%
  6. OneMain Finance Corp 0.95%
  7. Smyrna Ready Mix Concrete LLC 0.94%
  8. United Rentals North America Inc 0.94%
  9. Fortrea Holdings Inc 0.92%
  10. Calderys Financing LLC 0.90%

Asset Allocation

Weighting Return Low Return High FLHY % Rank
Bonds
97.73% -3.13% 154.38% 11.21%
Cash
1.77% -52.00% 49.49% 83.64%
Convertible Bonds
0.59% 0.00% 17.89% 71.91%
Stocks
0.50% 0.00% 99.61% 46.39%
Preferred Stocks
0.00% 0.00% 8.06% 96.60%
Other
0.00% -63.70% 102.57% 82.87%

Stock Sector Breakdown

Weighting Return Low Return High FLHY % Rank
Utilities
0.00% 0.00% 100.00% 78.89%
Technology
0.00% 0.00% 33.17% 80.53%
Real Estate
0.00% 0.00% 86.71% 79.10%
Industrials
0.00% 0.00% 93.12% 82.99%
Healthcare
0.00% 0.00% 22.17% 79.10%
Financial Services
0.00% 0.00% 100.00% 84.02%
Energy
0.00% 0.00% 100.00% 94.47%
Communication Services
0.00% 0.00% 99.99% 87.50%
Consumer Defense
0.00% 0.00% 100.00% 78.69%
Consumer Cyclical
0.00% 0.00% 100.00% 0.20%
Basic Materials
0.00% 0.00% 100.00% 83.20%

Stock Geographic Breakdown

Weighting Return Low Return High FLHY % Rank
US
0.50% 0.00% 99.61% 44.91%
Non US
0.00% -0.01% 0.83% 94.29%

Bond Sector Breakdown

Weighting Return Low Return High FLHY % Rank
Corporate
97.35% 0.00% 129.69% 25.19%
Derivative
0.00% -15.04% 42.26% 79.48%
Cash & Equivalents
0.00% 0.00% 49.49% 99.38%
Securitized
0.00% 0.00% 97.24% 95.98%
Municipal
0.00% 0.00% 4.66% 92.74%
Government
0.00% 0.00% 99.07% 94.13%

Bond Geographic Breakdown

Weighting Return Low Return High FLHY % Rank
US
97.73% -3.13% 129.21% 6.64%
Non US
0.00% 0.00% 97.33% 94.91%

FLHY - Expenses

Operational Fees

FLHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.04% 31.61% 94.91%
Management Fee 0.40% 0.00% 1.84% 14.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

FLHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FLHY 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.

FLHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.83% 1.00% 255.00% 21.73%

FLHY - Distributions

Dividend Yield Analysis

FLHY Category Low Category High FLHY % Rank
Dividend Yield 6.06% 0.00% 35.52% 30.52%

Dividend Distribution Analysis

FLHY Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

FLHY Category Low Category High FLHY % Rank
Net Income Ratio 4.62% -2.39% 14.30% 38.15%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FLHY - Fund Manager Analysis

Managers

Glenn Voyles


Start Date

Tenure

Tenure Rank

May 30, 2018

4.01

4.0%

Glenn Voyles, CFA, VP, is a high-yield analyst and portfolio manager for Franklin Advisers, Inc. He is Director of Portfolio Management for the Corporate & High Yield Group and sits on the Fixed Income Policy Committee. He oversees the corporate credit portfolio team as well as various high yield and global credit strategies. He joined Franklin Templeton in 1993. Mr. Voyles holds a B.A. (Stanford Univ.). He is a member of Security Analysts of San Francisco and the CFA Institute.

Patricia O'Connor


Start Date

Tenure

Tenure Rank

May 30, 2018

4.01

4.0%

Patricia O'Connor, CFA, VP, is a vice president and portfolio manager for the Franklin Templeton Fixed Income Group. Prior to joining Franklin Templeton in 1997, Ms. O'Connor worked for Morgan Stanley Asset Management. She holds a B.S. (Accounting, Lehigh Univ.) and an MBA (Univ. of Chicago). Ms. O'Connor holds a B.S. in accounting from Lehigh University and an M.B.A. in finance and economics from the University of Chicago. She is a Chartered Financial Analyst (CFA) charterholder, as well as a member of the CFA Society of San Francisco and CFA Institute.

Jonathan Belk


Start Date

Tenure

Tenure Rank

Aug 01, 2020

1.83

1.8%

Thomas Runkel


Start Date

Tenure

Tenure Rank

Aug 01, 2020

1.83

1.8%

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

Aug 01, 2020

1.83

1.8%

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
0.13 37.79 7.12 8.17