Franklin Floating Rate Daily Access Fund (FDAAX)

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Franklin Floating Rate Daily Access Fund (FDAAX) is up 1.2% since the beginning of the year. FDAAX is currently trading at $7 per share. Investors who bought $1,000 worth of FDAAX shares 5 years ago would now be looking at an investment worth $1,348.

Franklin Floating Rate Daily Access Fund (FDAAX) has returned 1.17% so far this year and 3.62% over the past 12 months. Over the last ten years, FDAAX has returned 4.44% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.

Based on dividend-adjusted daily data since May 2, 2001, FDAAX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.

Historically, 76% of months were positive and 24% were negative. The best month was Jan 2009 with a return of +6.8%, while the worst month was Oct 2008 at -12.6%. The longest winning streak lasted 30 consecutive months, and the longest losing streak was 10 months.

On a daily basis, FDAAX closed higher 22% of trading days. The best single day was Mar 31, 2020 with a return of +2.7%, while the worst single day was Mar 18, 2020 at -3.1%.

Franklin Floating Rate Daily Access Fund has an annualized alpha of 3.65%, beta of 0.03, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since May 03, 2001.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.68%) than losses (10.04%) - typical of diversified or defensive assets.
• Beta of 0.03 may look defensive, but with R2 of 0.04 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.04 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FDAAX has an expense ratio of 0.67%, placing it in the medium range.

FDAAX ranks 29 for risk / return — below 29% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund (FDAAX) and compare them to S&P 500 Index.

Franklin Floating Rate Daily Access Fund provided a 7.86% dividend yield over the last twelve months, with an annual payout of $0.57 per share.

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.

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.

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 25.74%, occurring on Dec 17, 2008. Recovery took 264 trading sessions.

The chart below shows the rolling one-month volatility.