Franklin Floating Rate Daily Access Adv (FDAAX)
| Fund Assets | 1.46B |
| Expense Ratio | 0.70% |
| Min. Investment | $1,000 |
| Turnover | 51.91% |
| Dividend (ttm) | 0.70 |
| Dividend Yield | 9.20% |
| Dividend Growth | -11.49% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 7.60 |
| YTD Return | 0.42% |
| 1-Year Return | 3.08% |
| 5-Year Return | 38.08% |
| 52-Week Low | 7.35 |
| 52-Week High | 7.73 |
| Beta (5Y) | 0.14 |
| Holdings | 317 |
| Inception Date | May 1, 2001 |
About FDAAX
Franklin Floating Rate Daily Access Fund Advisor Class is a mutual fund designed to generate a high level of current income by primarily investing in floating interest rate corporate loans and corporate debt securities. The fund allocates at least 80% of its assets to these floating rate instruments, which are typically senior-secured loans and often carry credit ratings below investment grade. Its monthly distributions reflect a focus on steady cash flow, and its sector exposure is largely within the U.S. corporate loan market. With a history dating back to 2001, the fund features a competitive expense ratio and a relatively low correlation to broader fixed-income markets due to its floating rate structure. This structure offers a degree of protection against rising interest rates compared to traditional fixed-rate bonds. The fund is notable for its broad holdings, risk-managed approach, and role as a source of income for investors seeking diversification within the credit sector of the market.
Performance
FDAAX had a total return of 3.08% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.75%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| FFHCX | Fidelity | Fidelity Series Floating Rate Hi Inc | n/a |
Top 10 Holdings
17.24% of assets| Name | Symbol | Weight |
|---|---|---|
| Institutional Fiduciary Trust - Money Market Portfolio | INFXX | 4.98% |
| Assuredpartners Inc 6.5% 02/16/2031 2024 Term Loans | ASSPAR.L 02.14.31 22 | 1.73% |
| BNP PARIBAS SECURITIES CORP 4.36% 08/01/2025 REPO | n/a | 1.61% |
| HSBC SECURITIES USA INC 4.29% 08/01/2025 REPO | n/a | 1.61% |
| Hub International Ltd 6.5% 06/20/2030 2025 Incremental Term Loans | HBGCN.L 06.20.30 19 | 1.43% |
| Ukg Inc 8.81426% 02/09/2031 Initial Term Loan | ULTI.L 02.10.31 9 | 1.35% |
| Medline Borrower Lp 6.5% 10/21/2028 Dollar Incremental Term Loans | MEDIND.L 10.23.28 6 | 1.21% |
| Sedgwick Claims Management Services Inc 9.07734% 07/31/2031 2024 Term Loans | SEDGEW.L 02.24.28 6 | 1.20% |
| Boost Newco Borrower Llc 6.5% 01/31/2031 Usd Term B-2 Loans | WRLDPY.L 01.31.31 6 | 1.15% |
| Mcafee Corp 6.5% 03/01/2029 Tranche B-1 Term Loans | MCFE.L 03.01.29 7 | 0.97% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 29, 2025 | $0.04748 | Aug 29, 2025 |
| Jul 31, 2025 | $0.04668 | Jul 31, 2025 |
| Jun 30, 2025 | $0.04511 | Jun 30, 2025 |
| May 30, 2025 | $0.04779 | May 30, 2025 |
| Apr 30, 2025 | $0.04762 | Apr 30, 2025 |
| Mar 31, 2025 | $0.04559 | Mar 31, 2025 |