Franklin High Yield Corporate ETF
FLHY
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- One Franklin Parkway San Mateo CA United States of America 94403
- IPO Date
- Jun 14, 2018
- CIK
- 0001655589
- Website
- franklintempleton.com
- Similar Companies
- Business
- Franklin High Yield Corporate ETF (FLHY) is an actively managed exchange-traded fund that seeks a high level of current income, with capital appreciation as a secondary objective, by investing at least 80% of its net assets in high-yield corporate debt securities and investments providing exposure to such securities. The ETF offers monthly dividend distributions and employs a disciplined investment process focused on security selection, industry allocation, duration management, and cross-border opportunities within the global high-yield bond universe; its portfolio includes fixed-income holdings across sectors such as energy (14.81%), finance (13.40%), health care (8.93%), and industrials (8.64%), with key positions in issuers like CHS/Community Health Systems, Venture Global LNG, Royal Caribbean Cruises, and Carnival Holdings Bermuda Ltd. Launched on May 30, 2018, and listed on Cboe BZX Exchange under the ticker FLHY (CUSIP 35473P629), the fund is managed by Franklin Advisers, Inc., a subsidiary of Franklin Resources, Inc., headquartered in San Mateo, California, with a seasoned team including Glenn I. Voyles, CFA (31 years experience), Jonathan G. Belk, CFA (20 years), Patricia O'Connor, CFA (29 years), and others specializing in high-yield corporate bonds since 1969. The fund benchmarks against the ICE BofA US High Yield Constrained Index, maintains a total net asset value of approximately $703 million as of recent data, holds 264 securities with an effective duration of 2.96 years and option-adjusted spread duration of 3.61 years, and features a net expense ratio of 0.40%. FLHY primarily targets institutional and retail investors seeking high-yield fixed income exposure with geographic diversification, including 80.85% in the United States, 5.70% in Canada, 3.87% in the United Kingdom, and allocations to Europe (e.g., France 1.77%, Germany 1.67%). Recent market commentaries from Franklin Templeton highlight constructive positioning on high-yield corporate credit amid improving sentiment from U.S. Federal Reserve rate cuts (including a 25 basis point reduction in September 2025) and partial trade resolutions under the Trump administration with partners like the UK, EU, and Japan, alongside a 90-day pause on broader U.S.-China tariff increases; performance contributors included energy sector selection and media non-cable exposure, supporting assets under management growth from $597 million at year-end 2024 to over $700 million.