- ISIN
- US3535386060
- Issuer
- Franklin Templeton
- Inception Date
- May 1, 2013
- Category
- High Yield Bonds
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FHRRX Performance Chart
Franklin High Income Fund (FHRRX) is up 1.0% since the beginning of the year. FHRRX is currently trading at $2 per share. Investors who bought $1,000 worth of FHRRX shares 5 years ago would now be looking at an investment worth $1,249.
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Returns By Period
Franklin High Income Fund (FHRRX) has returned 1.04% so far this year and 6.79% over the past 12 months. Over the last ten years, FHRRX has returned 6.14% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
Franklin High Income Fund
- 1D
- 0.00%
- 1M
- 0.54%
- YTD
- 1.04%
- 6M
- 1.58%
- 1Y
- 6.79%
- 3Y*
- 8.62%
- 5Y*
- 4.55%
- 10Y*
- 6.14%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
FHRRX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2014, FHRRX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.
Historically, 62% of months were positive and 38% were negative. The best month was Jul 2022 with a return of +6.2%, while the worst month was Mar 2020 at -10.0%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FHRRX closed higher 18% of trading days. The best single day was Apr 9, 2020 with a return of +3.7%, while the worst single day was Mar 18, 2020 at -3.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.53% | -0.01% | -1.70% | 1.71% | 0.54% | 0.00% | 1.04% | ||||||
| 2025 | 0.58% | 0.57% | -1.71% | -0.01% | 1.73% | 1.71% | 0.50% | 1.12% | 1.10% | -0.02% | 0.63% | 1.11% | 7.51% |
| 2024 | -0.01% | 0.54% | 1.11% | -0.53% | 1.12% | 1.14% | 1.74% | 1.70% | 1.11% | -0.56% | 0.53% | -0.03% | 8.12% |
| 2023 | 4.25% | -1.20% | 1.13% | 1.09% | -1.22% | 1.80% | 1.18% | 0.56% | -0.67% | -1.83% | 4.35% | 4.18% | 14.21% |
| 2022 | -2.27% | -1.19% | -0.68% | -3.48% | 0.45% | -7.03% | 6.22% | -2.51% | -3.84% | 3.17% | 2.54% | -0.72% | -9.60% |
| 2021 | 0.35% | 0.41% | -0.06% | 1.55% | 0.43% | 0.98% | 0.41% | 0.42% | 0.41% | -0.10% | -1.18% | 2.05% | 5.78% |
Benchmark Metrics
Franklin High Income Fund has an annualized alpha of 2.40%, beta of 0.16, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since January 03, 2014.
- This fund participated in 43.66% of S&P 500 Index downside but only 33.52% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.16 may look defensive, but with R2 of 0.20 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 0.20 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
- 2.40%
- Beta
- 0.16
- R²
- 0.20
- Upside Capture
- 33.52%
- Downside Capture
- 43.66%
Expense Ratio
FHRRX has an expense ratio of 0.50%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FHRRX ranks 68 for risk / return — better than 68% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Franklin High Income Fund (FHRRX) and compare them to S&P 500 Index.
| FHRRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.41 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 2.93 | +0.28 |
| Martin ratioReturn relative to average drawdown | 16.08 | 13.52 | +2.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Franklin High Income Fund provided a 6.04% dividend yield over the last twelve months, with an annual payout of $0.11 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.11 | $0.09 | $0.11 | $0.11 | $0.10 | $0.10 | $0.10 | $0.11 | $0.11 | $0.11 | $0.11 | $0.13 |
Dividend yield | 6.04% | 4.91% | 6.63% | 6.36% | 6.28% | 5.09% | 5.48% | 5.71% | 6.36% | 5.74% | 6.14% | 7.53% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin High Income 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 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.04 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2024 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
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 High Income 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 High Income Fund was 21.17%, occurring on Feb 11, 2016. Recovery took 174 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2016 bear market2016 | -21.17%Feb 2016 | 1y 5mo | 8mo 11d | 2y 1moSep 2014 - Oct 2016 |
COVID crash2020 | -20.48%Mar 2020 | 1mo 2d | 4mo 14d | 5mo 16dFeb 2020 - Aug 2020 |
Bear market2022 | -14.02%Sep 2022 | 9mo 1d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
Rate-hike selloffLate 2018 | -6.59%Dec 2018 | 2mo 23d | 1mo 28d | 4mo 21dOct 2018 - Feb 2019 |
2025 selloff2025 | -4.57%Apr 2025 | 1mo 4d | 1mo 27d | 3mo 1dMar 2025 - Jun 2025 |
Drawdown Indicators
| FHRRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.17% | -56.78% | +35.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -9.10% | +6.78% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -18.90% | +14.33% |
Max Drawdown (5Y)Largest decline over 5 years | -14.02% | -25.43% | +11.41% |
Max Drawdown (10Y)Largest decline over 10 years | -20.48% | -33.92% | +13.44% |
Current DrawdownCurrent decline from peak | 0.00% | -0.74% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -10.72% | +7.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 1.97% | -1.51% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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