Morningstar

Franklin U.S. Government Securities Fund Advisor Class FUSAX

Morningstar Medalist Rating
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Medalist Rating as of See Franklin Templeton Investment Hub
  • NAV / 1-Day Return $4.99  /  0.00
  • Fund Size $1.8B
  • Adjusted Expense Ratio 0.610%
  • Net Expense Ratio 0.600%
  • Fee Level: Distribution Above Average
  • Share Class Type Institutional
  • Morningstar Category Government Mortgage-Backed Bond
  • Fixed-Income Style Box (Funds) High/Moderate
  • Minimum Initial Investment $100,000
  • Investment Status Open
  • TTM Yield 3.80%
  • Average Effective Duration 5.38 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis FUSAX

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

  • People Pillar

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

A straightforward Ginnie Mae MBS option.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Franklin US Government Securities’ team leverages deep securitized-debt expertise and a range of mortgage models to uncover mispriced structures, though its strict GNMA mandate narrows the opportunity set compared with more diversified peers.

by Ken Noguchi
Rated on Published on

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Portfolio Holdings FUSAX

More FUSAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 38.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 2.5%

7.09 128M
Securitized

Government National Mortgage Association 2%

5.28 96M
Securitized

Government National Mortgage Association 3.5%

4.60 83M
Securitized

Government National Mortgage Association 5%

4.15 75M
Securitized

Government National Mortgage Association 3%

3.50 63M
Securitized

Government National Mortgage Association 6%

3.03 55M
Securitized

Government National Mortgage Association 2.5%

2.88 52M
Securitized

Government National Mortgage Association 2.5%

2.86 52M
Securitized

Government National Mortgage Association 5.5%

2.80 51M
Securitized

Government National Mortgage Association 2.5%

2.38 43M
Securitized

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