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Morningstar

Franklin Floating Rate Daily Access Adv FDAAX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 7.70  /  0.11 %
  • Total Assets 1.3 Bil
  • Adj. Expense Ratio
    0.700%
  • Expense Ratio 0.700%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 100,000
  • Status Open
  • TTM Yield 7.94%
  • Effective Duration 0.17 years

USD | NAV as of Oct 03, 2023 | 1-Day Return as of Oct 03, 2023, 12:22 AM GMT+0

Morningstar’s Analysis FDAAX

Will FDAAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FDAAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the FDAAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of FDAAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Franklin Floating Rate Daily Access Adv's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a sizable cost advantage over competitors, priced within the second-cheapest fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FDAAX

More FDAAX Holdings
  • Current Portfolio Date
  • Equity Holdings 1
  • Bond Holdings 280
  • Other Holdings 12
  • % Assets in Top 10 Holdings 13.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Franklin IFT Money Market

4.92
64,612,670
Cash and Equivalents

QUARTERNORTH ENERGY HOLDING INC COM USD 0.01

4.64
61,011,104
—

UTEX INDUSTRIES INC COM USD 1

1.28
16,856,430
—

General Nutrition Centers Inc 10.77929% 10/07/2026 2nd Lien Term Loan (Pik)

1.12
14,736,305
Corporate

Waystar Technologies Inc 6.5% 10/22/2026 Initial Term Loans

1.03
13,573,043
Corporate

Athenahealth Group Inc 6.5% 02/15/2029 Initial Term Loans

0.99
13,018,827
Corporate

Invesco Senior Loan ETF

0.99
12,985,008
—

Pmhc Ii Inc 6.5% 04/21/2029 Initial Term Loans

0.96
12,560,690
Corporate

Dcert Buyer Inc 6.5% 10/16/2026 Initial Term Loans

0.94
12,350,538
Corporate

Cengage Learning Inc 6.5% 07/14/2026 Term B Loan

0.93
12,201,113
Corporate