ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios
Year to Date Returns (Net)
9.29%
Year to Date Returns (Pure Gross)
12.54%
Overview
- Investment Overview
- Investment Process
- Meet Your Manager
Investment Overview
The ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios strive to maximize simplicity and minimize emotion by shifting allocations across multiple ClearBridge strategies based on a quantitative system that uses well-known factor measures and methodologies.
Investment Objective
Seeks income and long-term capital appreciation through diversification across multiple ClearBridge strategies to gain exposure to a mix of value stocks, dividend-paying stocks and bonds.
Investment Philosophy
- Simplify asset allocation through the efficient delivery of a diversified model portfolio geared toward a specific growth objective
- Take the emotion out of rebalancing by relying on a quantitative-based dynamic allocation system that relies on market-driven signals to change allocations
- Pair the operational experience of ClearBridge Investments, a deeply seasoned MDA investment manager, with what ClearBridge considers to be their best ideas in growth and dividend-paying stocks
Key Differentiators
Potential diversification
- Portfolios are invested across three ClearBridge strategies: Appreciation, Dividend Strategy and Investment Grade ETFs.
- The strategy band range was chosen specifically to help keep turnover low, which may improve the tax efficiency of the portfolios, yet wide enough to maintain the benefits of dynamic allocation.
Active qualitative oversight
- Ongoing monitoring of asset allocation
- The active management for which ClearBridge is recognized remains very relevant throughout the process. In fact, the ClearBridge Chief Investment Officer must confirm and approve all allocation signals and changes.
Simplified portfolio administration
- By keeping all investment managers, service and operational functions within one organization, ClearBridge believes they can deliver an efficient and effective experience.
- Positions are consolidated into one account, one statement
- Allocation shifts are communicated regularly with full transparency
Diversification does not guarantee a profit or protect against a loss. There is no guarantee that the Portfolio's objectives will be met.
MDA disciplines may utilize Exchange Traded Fund (“ETFs”) disciplines. An ETF is a type of Investment Company whose investment objective is to achieve a return similar to that of a particular market index. An ETF will invest in either all of the securities or a representative sample of the securities included in the index they track. ETFs may be bought or sold throughout the day in the secondary market, but are generally not redeemable by retail investors for the underlying basket of securities they track. Clients likely to find an MDA strategy that utilizes ETF disciplines most appropriate are those willing to accept market-like returns for the ETF discipline with little potential for the individual ETFs to outperform the indices they track. Potential investors should understand that the annual advisory fee charged in the MDA program is in addition to the management fees, operating expenses, and other expenses associated with an investment in ETFs.
Investment Process
Investment Process
Step 1 - Identify Complementary Strategies to Build a Single, Diversified Portfolio
- Combine different ClearBridge strategies using appropriate reallocation triggers and weights with the goal of generating higher risk-adjusted returns (as measured by sharpe ratios) than the underlying products or an equal-weighted combination.
Step 2 - Review Allocations Monthly
- The portfolio will shift allocations based on a predetermined factor signals based on trailing 12-month moving average. For the ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios, the factor is based on asset class (stocks vs. bonds).
- Allocation changes are triggered when the value of a factor is above or below the index's 12-month simple moving average for two consecutive months.
Step 3 - Confirmation of Signal
- All allocation signals and changes require review and approval from ClearBridge CIO
- Independent risk management at both strategy and portfolio level
The investment process may change over time. The characteristics set forth above are intended as a general illustration of some of the criteria the strategy team considers in selecting securities for client portfolios.
The investment process and models used by ClearBridge to determine the Dynamic MDA portfolios’ allocations to their constituent strategies are subject to change. In such event, a Dynamic MDA portfolio’s allocations may differ from the possible allocations set forth above. A Dynamic MDA portfolio’s allocations also may vary from the allocations set forth above due to market movements and the relative performance of its constituent strategies. A Dynamic MDA portfolio’s allocations in effect from time to time will be within the allocation bands set forth in the description of the ClearBridge Dynamic MDA portfolios in ClearBridge’s and Franklin Templeton Private Portfolio Group’s combined Form ADV brochure.
Meet Your Manager
ClearBridge Investments
ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.
Performance
- Average Annual Total Returns
- Calendar Year Returns
- Cumulative Total Returns
- Risk/Return Profile
- Risk Measures
Average Annual Total Returns
Average Annual Total Returns
2025
Chart
Quarter End As of 12/31/2025 | 1 Year | 3 Years | 5 Years | 7 Years | 10 Years | Since Inception 06/30/2015 | |
|---|---|---|---|---|---|---|---|
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Net (%) | 9.29 | 10.05 | 5.86 | 7.60 | 6.68 | 6.34 | |
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Pure Gross (%) | 12.54 | 13.33 | 9.02 | 10.81 | 9.86 | 9.51 | |
| 70% SP 500 / 30% iBoxx $ Liquid Investment Grade (%) | 14.96 | 17.79 | 9.81 | 13.13 | 11.42 | 10.89 |
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. ClearBridge Investments, LLC, Martin Currie, Royce Investment Partners, and Western Asset Management Company, LLC claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Calendar Year Returns
Calendar Year Returns
Chart
Quarter End As of 12/31/2025 | YTD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Performance Inception Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Net (%) | 9.29 | 9.29 | 12.23 | 8.67 | -14.00 | 15.94 | 4.51 | 20.21 | -5.67 | 12.21 | 7.98 | 06/30/2015 | |
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Pure Gross (%) | 12.54 | 12.54 | 15.57 | 11.91 | -11.39 | 19.38 | 7.64 | 23.76 | -2.82 | 15.55 | 11.20 | 06/30/2015 | |
| 70% SP 500 / 30% iBoxx $ Liquid Investment Grade (%) | 14.96 | 14.96 | 17.43 | 21.06 | -17.87 | 18.99 | 16.65 | 27.28 | -3.93 | 17.31 | 10.37 | — |
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. ClearBridge Investments, LLC, Martin Currie, Royce Investment Partners, and Western Asset Management Company, LLC claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Cumulative Total Returns
Cumulative Total Returns
The hypothetical growth scenario of $100k does not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares. Had they been reflected hypothetical values would be lower.
2015
2025
Chart
Quarter End As of 12/31/2025 | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 06/30/2015 | |
|---|---|---|---|---|---|---|---|---|
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Net (%) | 9.29 | 9.29 | 33.30 | 32.91 | 90.86 | — | 90.60 | |
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Pure Gross (%) | 12.54 | 12.54 | 45.56 | 53.98 | 156.13 | — | 159.59 | |
| 70% SP 500 / 30% iBoxx $ Liquid Investment Grade (%) | 14.96 | 14.96 | 63.42 | 59.70 | 194.96 | — | 196.09 |
Historical Cumulative Total Returns
2025
Date Selected As of 12/31/2025 | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 06/30/2015 | |
|---|---|---|---|---|---|---|---|---|
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Net (%) | 9.29 | 9.29 | 33.30 | 32.91 | 90.86 | — | 90.60 | |
| ClearBridge Dynamic MDA U.S. Dividend Balanced Portfolios - Pure Gross (%) | 12.54 | 12.54 | 45.56 | 53.98 | 156.13 | — | 159.59 | |
| 70% SP 500 / 30% iBoxx $ Liquid Investment Grade (%) | 14.96 | 14.96 | 63.42 | 59.70 | 194.96 | — | 196.09 |
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. ClearBridge Investments, LLC, Martin Currie, Royce Investment Partners, and Western Asset Management Company, LLC claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Risk/Return Profile
Risk/Return Profile (%)
Based on a 10 year period ending Dec-31-2025
Chart
| Net |
| Pure Gross |
| 70% SP 500 / 30% iBoxx $ Liquid Investment Grade |
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. ClearBridge Investments, LLC, Martin Currie, Royce Investment Partners, and Western Asset Management Company, LLC claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Risk Measures
Risk Measures
| Statistics | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Alpha (Net of Fees) | -2.55 | -4.07 | -2.45 | -2.91 |
| Beta (Net) | 0.74 | 0.76 | 0.79 | 0.83 |
| R-Squared (Net) | 0.85 | 0.86 | 0.88 | 0.91 |
| Historical Tracking Error (Net) | 3.27 | 4.03 | 4.51 | 3.89 |
| Historical Tracking Error (Pure Gross) | 3.27 | 4.03 | 4.51 | 3.89 |
| Information Ratio (Pure Gross) | -0.74 | -1.10 | -0.18 | -0.40 |
| Information Ratio (Net) | -1.74 | -1.92 | -0.88 | -1.22 |
| Standard Deviation (%) | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Standard Deviation (Net) | 6.44 | 8.53 | 10.71 | 10.64 |
| Sharpe Ratio (%) | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|
| Sharpe Ratio (Net) | 0.74 | 0.59 | 0.28 | 0.45 |
| Sharpe Ratio (Pure Gross) | 1.20 | 0.94 | 0.56 | 0.73 |
The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.
Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.
For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.
To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. ClearBridge Investments, LLC, Martin Currie, Royce Investment Partners, and Western Asset Management Company, LLC claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Portfolio
Positions
Portfolio Statistics
Portfolio characteristics, sector and market capitalization allocations are based on a representative account within the composite. Individual client portfolios in the program may differ, sometimes significantly, from those shown above. Assumes no client-imposed restrictions. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the sectors listed and should not be used as a sole basis to make any investment decisions.
Portfolio Allocations
- Sector
- Market Capitalization
Sector
Sector Allocation
Chart
| Portfolio | ||
|---|---|---|
| Information Technology | 18.32% | |
| Unassigned | 15.42% | |
| Financials | 11.53% | |
| Communication Services | 10.39% | |
| Industrials | 8.91% | |
| Health Care | 8.45% | |
| Consumer Staples | 6.17% | |
| Energy | 5.39% | |
| Materials | 4.91% | |
| Consumer Discretionary | 4.10% | |
| Real Estate | 2.33% | |
| Utilities | 2.21% | |
| Cash & Cash Equivalents | 1.86% |
Portfolio characteristics, sector and market capitalization allocations are based on a representative account within the composite. Individual client portfolios in the program may differ, sometimes significantly, from those shown above. Assumes no client-imposed restrictions. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the sectors listed and should not be used as a sole basis to make any investment decisions.
Market Capitalization
Market Capitalization Allocation 2
Chart
| Portfolio | ||
|---|---|---|
| <10 Billion | 0.03% | |
| 10-50 Billion | 19.77% | |
| 50-250 Billion | 37.94% | |
| 250-500 Billion | 9.58% | |
| >500 Billion | 32.67% |
Portfolio characteristics, sector and market capitalization allocations are based on a representative account within the composite. Individual client portfolios in the program may differ, sometimes significantly, from those shown above. Assumes no client-imposed restrictions. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the sectors listed and should not be used as a sole basis to make any investment decisions.
Portfolio Holdings
Top Equity Issuers
Chart
| Portfolio | ||
|---|---|---|
| Microsoft Corp | 5.28% | |
| Alphabet Inc | 4.14% | |
| NVIDIA Corp | 3.17% | |
| Broadcom Inc | 3.04% | |
| Apple Inc | 2.90% | |
| Meta Platforms Inc | 2.32% | |
| JPMorgan Chase & Co | 2.22% | |
| Exxon Mobil Corp | 2.18% | |
| Visa Inc | 1.51% | |
| Johnson & Johnson | 1.48% |
Documents
Product Documents
Factsheet
Disclosure
Risks
What Are the Risks?
All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls.
Important Information
Separately Managed Accounts (SMAs) are investment services provided by Franklin Templeton Private Portfolio Group, LLC (FTPPG), a federally registered investment adviser. Client portfolios are managed based on investment instructions or advice provided by one or more of the following Franklin Templeton affiliated sub-advisers: ClearBridge Investments, LLC. Management is implemented by FTPPG, the designated sub-adviser or, in the case of certain programs, the program sponsor or its designee.
Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares. Returns reflect reinvestment of dividends and capital gains. Performance figures for periods shorter than one year represent cumulative figures and are not annualized. All performance is reported in US dollars.
ClearBridge Investments, LLC, Franklin Templeton Investment Solutions, Martin Currie, Royce Investment Partners, Western Asset Management Company, LLC, and Franklin Templeton claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
Professional money management may not be suitable for all investors. Factual information relating to the securities discussed was obtained from sources believed to be reliable, but there can be no guarantee as to its accuracy. It should not be assumed that investments made in the future will be profitable or will equal the performance of the securities discussed in the material.
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Franklin Templeton (FT) is not undertaking to provide impartial advice. Nothing herein is intended to provide fiduciary advice. FT has a financial interest.
Important data provider notices and terms available at www.franklintempletondatasources.com.
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.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
The iBoxx $ Liquid Investment Grade Corporate Bond index consists of U.S. dollar-denominated, liquid investment grade corporate bonds. Source: © S&P Dow Jones Indices LLC. All rights reserved. IHS Markit.
All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Footnotes
Dividend yield is calculated without the deduction of fees and expenses.
Capitalization Rate is calculated without the deduction of fees and expenses.