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Morningstar

Franklin Strategic Mortgage A1 FSMIX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 7.51  /  −0.39 %
  • Total Assets 30.6 Mil
  • Adj. Expense Ratio
    0.760%
  • Expense Ratio 0.760%
  • Distribution Fee Level Average
  • Share Class Type Front Load
  • Category Intermediate Core-Plus Bond
  • Credit Quality / Interest Rate Sensitivity High/Moderate
  • Min. Initial Investment 1,000
  • Status Limited
  • TTM Yield 3.24%
  • Effective Duration 5.97 years

USD | NAV as of Apr 18, 2024 | 1-Day Return as of Apr 18, 2024, 10:16 PM GMT+0

Morningstar’s Analysis FSMIX

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

  • People Pillar

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

The combination of an Average People Pillar rating and a Low Process Pillar rating limit Franklin Strategic Mortgage A1 to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings FSMIX

More FSMIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 40.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

5 Year Treasury Note Future June 24

7.39 2.3 Mil
Government

Fnma Pass-Thru I 4%

4.85 1.5 Mil
Securitized

Ultra 10 Year US Treasury Note Future June 24

4.50 1.4 Mil
Government

Federal Home Loan Mortgage Corp. 2%

4.49 1.4 Mil
Securitized

Franklin IFT Money Market

4.23 1.3 Mil
Cash and Equivalents

Federal National Mortgage Association 3%

3.61 1.1 Mil
Securitized

US Treasury Bond Future June 24

3.60 1.1 Mil
Government

Government National Mortgage Association 2.5%

2.98 920,960
Securitized

Federal Home Loan Mortgage Corp. 2%

2.97 919,130
Securitized

Federal National Mortgage Association 2%

2.91 898,255
Securitized