- ISIN
- US3536127810
- Issuer
- Franklin Templeton
- Inception Date
- Apr 30, 2001
- Category
- Bank Loan
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FDAAX Performance Chart
Franklin Floating Rate Daily Access Fund (FDAAX) is up 1.4% 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 $1,339.
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Returns By Period
Franklin Floating Rate Daily Access Fund (FDAAX) has returned 1.38% so far this year and 2.58% over the past 12 months. Over the last ten years, FDAAX has returned 4.26% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Franklin Floating Rate Daily Access Fund
- 1D
- 0.00%
- 1M
- 0.14%
- 6M
- 1.47%
- YTD
- 1.38%
- 1Y
- 2.58%
- 3Y*
- 6.56%
- 5Y*
- 6.01%
- 10Y*
- 4.26%
- ALL TIME*
- 3.87%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FDAAX Monthly Returns History
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, 77% of months were positive and 23% 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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.09% | -0.70% | 0.18% | 1.17% | 0.48% | 0.07% | 0.28% | 1.38% | |||||
| 2025 | 0.43% | 0.01% | -0.45% | -0.16% | 2.39% | 0.60% | 0.75% | 0.50% | -0.21% | 0.25% | 0.59% | -0.07% | 4.68% |
| 2024 | 1.47% | 0.97% | 0.76% | 0.42% | 0.58% | 0.18% | 0.77% | 0.55% | 0.40% | 0.58% | 1.21% | 0.33% | 8.52% |
| 2023 | 2.67% | 0.53% | 1.00% | 0.87% | -0.08% | 2.36% | 1.19% | 1.40% | 1.43% | -1.04% | 1.41% | 1.80% | 14.35% |
| 2022 | 0.40% | 0.06% | 0.44% | -0.09% | -2.31% | -2.89% | 1.56% | 1.30% | -2.41% | 0.55% | 2.00% | 0.14% | -1.37% |
| 2021 | 0.86% | 0.85% | 0.36% | 0.85% | 1.43% | 0.82% | 0.02% | 2.14% | 0.05% | 0.40% | -0.57% | 1.07% | 8.55% |
Benchmark Metrics
Franklin Floating Rate Daily Access Fund has an annualized alpha of 3.63%, beta of 0.03, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since May 02, 2001.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.66%) than losses (9.88%) - 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.
- Alpha
- 3.63%
- Beta
- 0.03
- R²
- 0.04
- Upside Capture
- 18.66%
- Downside Capture
- 9.88%
Expense Ratio
FDAAX has an expense ratio of 0.67%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FDAAX ranks 36 for risk / return — above 36% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund (FDAAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FDAAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.00 | -0.30 |
| Martin ratioReturn relative to average drawdown | 4.87 | 8.49 | -3.62 |
Dividends
Dividend History
Franklin Floating Rate Daily Access Fund provided a 7.24% dividend yield over the last twelve months, with an annual payout of $0.52 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.59 | $0.72 | $0.59 | $0.43 | $0.29 | $0.38 | $0.46 | $0.44 | $0.33 | $0.41 | $0.39 |
Dividend yield | 7.24% | 8.00% | 9.42% | 7.64% | 5.84% | 3.73% | 5.07% | 5.62% | 5.18% | 3.79% | 4.57% | 4.71% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.26 | |||||
| 2025 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.04 | $0.08 | $0.59 |
| 2024 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.09 | $0.72 |
| 2023 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $0.00 | $0.06 | $0.07 | $0.59 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.05 | $0.04 | $0.05 | $0.06 | $0.43 |
| 2021 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
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.
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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 25.74%, occurring on Dec 17, 2008. Recovery took 264 trading sessions.
The current Franklin Floating Rate Daily Access Fund drawdown is 0.28%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-25.74%Dec 2008 | 1y 5mo | 1y 20d | 2y 6moJul 2007 - Jan 2010 | Financial crisis2007–2009 |
-18.08%Mar 2020 | 1mo 13d | 1y 3mo | 1y 4moFeb 2020 - Jun 2021 | COVID crash2020 |
-7.29%Feb 2016 | 9mo 13d | 4mo 14d | 1y 1moMay 2015 - Jul 2016 | — |
-6.22%Jul 2022 | 2mo 29d | 7mo 1d | 10moApr 2022 - Feb 2023 | Bear market2022 |
-5.46%Aug 2011 | 23d | 5mo 10d | 6mo 3dAug 2011 - Jan 2012 | — |
Drawdown Indicators
| FDAAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.74% | -56.78% | +31.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -9.10% | +7.37% |
Max Drawdown (3Y)Largest decline over 3 years | -2.70% | -18.90% | +16.20% |
Max Drawdown (5Y)Largest decline over 5 years | -6.22% | -25.43% | +19.21% |
Max Drawdown (10Y)Largest decline over 10 years | -18.08% | -33.92% | +15.84% |
Current DrawdownCurrent decline from peak | -0.28% | -1.58% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -10.70% | +9.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.14% | -1.53% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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