Morningstar

Franklin Low Duration Total Return Fund Advisor Class FLDZX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 8.82  /  −0.11 %
  • Total Assets 1.8B
  • Adj. Expense Ratio
    0.450%
  • Expense Ratio 0.410%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Short-Term Bond
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 100,000
  • Status Open
  • TTM Yield 4.52%
  • Effective Duration 1.90 years

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FLDZX

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

  • People Pillar

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

Risk timing, not appetite, remains this fund's hurdle.

Analyst Peter Como

Peter Como

Analyst

Summary

Navigating when to pull risk levers in this short-term bond fund has proved arduous for Franklin Low Duration Total Return and its UCITS sibling, Franklin US Low Duration.

by Peter Como
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings FLDZX

More FLDZX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 59.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

2 Year Treasury Note Future Dec 26

41.55 756M
Government

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

9.65 175M
Government

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

7.57 138M
Derivative

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

6.73 122M
Government

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

5.89 107M
Government

United States Treasury Notes 4.125%

5.05 92M
Government

United States Treasury Notes 3.875%

3.51 64M
Government

United States Treasury Notes 4%

2.80 51M
Government

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

2.77 50M
Government

Franklin Instl U.S. Govt Mny Mkt Fund

2.64 48M
Cash and Equivalents

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