Morningstar

Franklin U.S. Government Securities Fund Class A1 FKUSX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 5.10  /  0.00
  • Total Assets 2.0B
  • Adj. Expense Ratio
    0.750%
  • Expense Ratio 0.740%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category Government Mortgage-Backed Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Limited
  • TTM Yield 3.46%
  • Effective Duration 5.33 years

USD | NAV as of Jul 18, 2026 | 1-Day Return as of Jul 18, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FKUSX

Will FKUSX outperform in the 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 FKUSX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FKUSX 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 FKUSX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Pending Manager Retirement at Franklin US Government Securities; Ratings Unchanged.

null Ken Noguchi

Ken Noguchi

Analyst Note

Franklin Templeton announced on Oct. 31, 2025, that manager Paul Varunok will retire in March 2026, stepping down from his fund management duties by Dec. 31, 2025. This orderly transition doesn’t alter the strategy’s Average People and Process ratings or its Morningstar Medalist Ratings across share classes.

by Ken Noguchi
Published on

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Portfolio Holdings FKUSX

More FKUSX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 38.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 2.5%

7.06 140M
Securitized

Government National Mortgage Association 2%

5.26 104M
Securitized

Government National Mortgage Association 3.5%

4.57 91M
Securitized

Government National Mortgage Association 5%

4.12 82M
Securitized

Government National Mortgage Association 3%

3.50 69M
Securitized

Government National Mortgage Association 6%

3.08 61M
Securitized

Franklin Instl U.S. Govt Mny Mkt Fund

2.98 59M
Cash and Equivalents

Government National Mortgage Association 2.5%

2.87 57M
Securitized

Government National Mortgage Association 2.5%

2.85 57M
Securitized

Government National Mortgage Association 5.5%

2.75 55M
Securitized

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