Overview
Dividend increase effective January 2026
Fund Facts
- Distribution Rate at NAV As of 02/04/2026 (Updated Daily)
- 5.20%
- 30-Day SEC Yield (With Waiver) As of 01/31/2026 (Updated Monthly)
- 3.16%
- Gross Expense Ratio As of 03/01/2025 (Updated Annually)
- 0.71%
- Net Expense Ratio As of 03/01/2025 (Updated Annually)
- 0.71%
- Fund Description
- The fund seeks to maximize income, while maintaining prospects for capital appreciation, by investing in a diversified portfolio of stocks and bonds.
- Benchmark
- Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index
- Dividend Frequency
- Monthly
- Fund Inception Date
- 08/31/1948
- Maximum Initial Charge
- 3.75%
- 12b-1 Fee
- 0.25%
Average Annual Total Returns
| Class A | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception 08/31/1948 |
|---|---|---|---|---|---|
| With Sales Charge (POP) | 7.96% | 7.84% | 6.84% | 7.06% | 9.72% |
| Without Sales Charge (NAV) | 12.17% | 9.18% | 7.64% | 7.46% | 9.77% |
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost.
Top Asset Allocation
Performance
Pricing History
Share Prices
Growth of $10,000
Risk Measures
| Metric | Fund | Benchmark |
|---|---|---|
| Alpha | 5.87 | — |
| Beta | 0.68 | 1.00 |
| R-Squared | 0.42 | 1.00 |
| Sharpe Ratio | 0.32 | -0.52 |
| Standard Deviation | 7.15% | 7.41% |
Portfolio
Assets & Portfolio Statistics
Portfolio Statistics
| Statistic | Value |
|---|---|
| Price to Earnings (12-Month Trailing) | 20.92x |
| Average Weighted Maturity | 5.68 Years |
| Dividend Yield | 3.28% |
| Price to Book | 3.03x |
| Effective Duration | 4.19 Years |
| Price to Cash Flow | 12.43x |
Sector Allocation
Distributions & Tax
Distribution history and details are available in the fund's regulatory documents. The fund pays dividends monthly.
Pricing
Historical NAV
| Date | NAV | Change | % Change |
|---|---|---|---|
| 02/04/2026 | $2.56 | $0.01 | 0.39% |
| 02/03/2026 | $2.55 | -$0.01 | -0.39% |
| 01/31/2026 | $2.56 | $0.02 | 0.79% |
| 01/30/2026 | $2.54 | $0.00 | 0.00% |
Portfolio Managers
Edward D. Perks, CFA®
Managed Fund Since 2002
Brendan Circle, CFA®
Managed Fund Since 2019
Todd Brighton, CFA®
Managed Fund Since 2017
Documents
Fund Literature
Regulatory Documents
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
All investments involve risks, including possible loss of principal. The fund's share price and yield will be affected by interest rate movements. Bond prices generally move in the opposite direction of interest rates. As the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions.
Franklin Distributors, LLC. Member FINRA / SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
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