Franklin Floating Rate Daily Access Fund (FDAAX)
The investment seeks a high level of current income; capital preservation is a secondary goal. The fund normally invests at least 80% of its net assets in income-producing floating interest rate corporate loans and corporate debt securities made to or issued by U.S. companies, non-U.S. entities and U.S. subsidiaries of non-U.S. entities. It invests at least 75% of its net assets in floating rate investments that are rated B- or higher at the time of purchase by a nationally recognized statistical rating organization (NRSRO) or, if unrated, are determined to be of comparable quality by the fund's investment manager.
Fund Info
| ISIN | US3536127810 |
|---|---|
| Issuer | Franklin Templeton Investments |
| Inception Date | Apr 30, 2001 |
| Category | Bank Loan |
| Min. Investment | $100,000 |
| Asset Class | Bond |
Expense Ratio
FDAAX features an expense ratio of 0.67%, falling within the medium range.
Share Price Chart
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Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: FDAAX vs. FFRIX, FDAAX vs. VNLA, FDAAX vs. VONE, FDAAX vs. VTEB, FDAAX vs. FFHCX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Franklin Floating Rate Daily Access Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Franklin Floating Rate Daily Access Fund had a return of 7.15% year-to-date (YTD) and 9.89% in the last 12 months. Over the past 10 years, Franklin Floating Rate Daily Access Fund had an annualized return of 4.03%, while the S&P 500 had an annualized return of 11.39%, indicating that Franklin Floating Rate Daily Access Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 7.15% | 25.48% |
| 1 month | 0.58% | 2.14% |
| 6 months | 3.23% | 12.76% |
| 1 year | 9.89% | 33.14% |
| 5 years (annualized) | 5.28% | 13.96% |
| 10 years (annualized) | 4.03% | 11.39% |
Monthly Returns
The table below presents the monthly returns of FDAAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 1.48% | 0.97% | 0.76% | 0.42% | 0.57% | 0.19% | 0.77% | 0.55% | 0.40% | 0.58% | 7.15% | ||
| 2023 | 2.66% | 0.53% | 1.00% | 0.87% | -0.08% | 2.36% | 1.19% | 1.40% | 1.43% | -0.33% | 1.41% | 1.80% | 15.16% |
| 2022 | 0.43% | 0.06% | 0.45% | -0.09% | -2.31% | -2.89% | 1.56% | 1.30% | -2.41% | 0.55% | 2.01% | 0.14% | -1.31% |
| 2021 | 0.85% | 0.84% | 0.37% | 0.85% | 1.43% | 0.82% | 0.01% | 2.14% | 0.05% | 0.39% | -0.57% | 1.04% | 8.51% |
| 2020 | 0.94% | -1.21% | -11.32% | 0.74% | 1.22% | 1.13% | 0.92% | 0.38% | 0.91% | -0.44% | 2.29% | 1.43% | -3.71% |
| 2019 | 1.52% | 0.91% | 0.08% | 0.82% | -0.23% | -0.28% | 0.15% | -0.49% | 0.23% | -0.99% | 0.55% | 1.01% | 3.31% |
| 2018 | 1.35% | -0.31% | 0.29% | 0.46% | 0.41% | -0.19% | 0.44% | 0.52% | 0.47% | -0.02% | -0.63% | -1.77% | 0.97% |
| 2017 | 0.33% | 0.26% | 0.18% | 0.25% | 0.31% | 0.06% | 0.43% | -0.12% | 0.08% | 0.71% | 0.13% | -0.17% | 2.45% |
| 2016 | -1.03% | -0.66% | 3.16% | 2.21% | 1.04% | 0.28% | 1.66% | 1.36% | 1.17% | 0.95% | 0.10% | 1.03% | 11.79% |
| 2015 | 0.30% | 1.39% | 0.31% | 0.96% | 0.26% | -0.70% | -0.18% | -0.52% | -1.09% | -0.17% | -1.53% | -0.74% | -1.73% |
| 2014 | 0.41% | 0.17% | 0.21% | -0.02% | 0.44% | 0.43% | 0.11% | 0.13% | -0.43% | 0.06% | 0.37% | -1.10% | 0.77% |
| 2013 | 0.89% | 0.11% | 0.77% | 0.41% | 0.34% | -0.46% | 0.87% | 0.10% | 0.31% | 0.64% | 0.33% | 0.45% | 4.85% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of FDAAX is 96, placing it in the top 4% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund (FDAAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Franklin Floating Rate Daily Access Fund provided a 9.06% dividend yield over the last twelve months, with an annual payout of $0.70 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.70 | $0.65 | $0.43 | $0.29 | $0.38 | $0.46 | $0.44 | $0.33 | $0.41 | $0.43 | $0.37 | $0.35 |
Dividend yield | 9.06% | 8.34% | 5.91% | 3.70% | 5.07% | 5.63% | 5.20% | 3.81% | 4.58% | 5.12% | 4.16% | 3.84% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Floating Rate Daily Access Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.06 | $0.06 | $0.05 | $0.05 | $0.00 | $0.57 | |
| 2023 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $0.05 | $0.06 | $0.07 | $0.65 |
| 2022 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.06 | $0.43 |
| 2021 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.03 | $0.29 |
| 2020 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.38 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2018 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.05 | $0.44 |
| 2017 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.33 |
| 2016 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.41 |
| 2015 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.37 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Franklin Floating Rate Daily Access Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Franklin Floating Rate Daily Access Fund was 25.73%, occurring on Dec 17, 2008. Recovery took 264 trading sessions.
The current Franklin Floating Rate Daily Access Fund drawdown is 0.13%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -25.73% | Jul 9, 2007 | 366 | Dec 17, 2008 | 264 | Jan 6, 2010 | 630 |
| -18.08% | Feb 10, 2020 | 31 | Mar 24, 2020 | 317 | Jun 25, 2021 | 348 |
| -7.08% | Jun 3, 2015 | 185 | Feb 25, 2016 | 89 | Jul 1, 2016 | 274 |
| -6.21% | Apr 8, 2022 | 60 | Jul 6, 2022 | 146 | Feb 2, 2023 | 206 |
| -5.46% | Aug 1, 2011 | 18 | Aug 24, 2011 | 109 | Jan 31, 2012 | 127 |
Volatility
Volatility Chart
The current Franklin Floating Rate Daily Access Fund volatility is 0.79%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.