Morningstar

Franklin Low Duration Total Return Fund Class R6 FLRRX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 8.97  /  0.00
  • Total Assets 1.8B
  • Adj. Expense Ratio
    0.310%
  • Expense Ratio 0.300%
  • Distribution Fee Level Low
  • Share Class Type Retirement, Large
  • Category Short-Term Bond
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 1M
  • Status Open
  • TTM Yield 4.60%
  • Effective Duration 1.90 years

USD | NAV as of Aug 15, 2026 | 1-Day Return as of Aug 15, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FLRRX

Will FLRRX 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 FLRRX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

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

This fund's intrepid choices warrant caution.

Senior Principal Eric Jacobson

Eric Jacobson

Senior Principal

Summary

As a short-term bond fund, Franklin Low Duration Total Return’s history of outsize risks limits our conviction.

by Eric Jacobson
Rated on Published on

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Portfolio Holdings FLRRX

More FLRRX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 57.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

2 Year Treasury Note Future Sept 26

43.70 803M
Government

INTEREST RATE SWAP FIXED IRS PAY FIXED 4.0200% 09/16/31 USD Receive

9.70 178M
Government

INTEREST RATE SWAP FIXED IRS RCV FIXED 4.0600% 09/16/33 USD Receive

9.55 175M
Government

ICE, Index Swap, 1.000%, 6/20/31 CDX.NA.IG.46 1.0% 2031-06-20

7.49 138M
Derivative

INTEREST RATE SWAP FIXED IRS PAY FIXED 4.0400% 09/16/28 USD Receive

6.07 112M
Government

United States Treasury Notes 4.625%

5.05 93M
Government

INTEREST RATE SWAP FIXED IRS PAY FIXED 4.1600% 09/16/36 USD Receive

3.49 64M
Government

United States Treasury Notes 4%

3.00 55M
Government

United States Treasury Notes 4.25%

2.85 52M
Government

Franklin Instl U.S. Govt Mny Mkt Fund

2.16 40M
Cash and Equivalents

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