Fixed Income

FQTHX Franklin Templeton SMACS: Series H

Overview

See the risks and other important information.

Fund Facts

Benchmark: Bloomberg Municipal Bond Index
Fund Inception Date: 06/03/2019
Dividend Frequency, if any: —

Sales Charges, Expenses & Fees

As of 01/01/2026

Gross Expense Ratio²: 0.86%
Net Expense Ratio^2,3: 0.00%
Maximum Initial Charge: —
CDSC: N/A
12b-1 Fee: —

Additional Fund Info

Share Class Inception Date: 06/03/2019
Investment Style: Municipals
Lipper Classification: High Yield Municipal Debt Funds
Morningstar Category⁴: Miscellaneous Fixed Income

Identifiers

Ticker: FQTHX
Fund Number: 3002
CUSIP Code: 35471D404

Manager and Commentary

About the Team

Franklin Templeton Fixed Income

A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income

Managed Fund Since 2020

Managed Fund Since 2019

Managed Fund Since 2020

Latest Insights

March 23, 2026

Macro Views: AI tailwinds, geopolitical headwinds

March 18, 2026

Middle East escalation: Market impact and emerging market implications

March 12, 2026

On My Mind: Not partying like it’s 1979

March 9, 2026

Municipal bond market monthly brief

Portfolio

Assets

As of02/28/2026 (Updated Monthly)

Total Net Assets: $41.87 Million

Positions

As of 02/28/2026 (Updated Monthly)

Number of Holdings

Fund: 223
Benchmark: 64,661

Portfolio Statistics

As of 02/28/2026 (Updated Monthly)

Average Weighted Maturity

Fund: 24.11 Years

Effective Duration

Fund: 9.55 Years

Asset Allocation

As of 02/28/2026 % of Total (Updated Monthly)

Asset Allocation
Holdings	Fund
Fixed Income	98.60%
Cash & Cash Equivalents	1.40%

Holdings
As of 02/28/2026 (Updated Monthly)

Franklin Dynamic Municipal Bond ETF ETF USD NPV TIS A/C #26175

Puerto Rico Sales Tax Financing Corp Sales Tax Revenue

State Of Illinois

New York Transportation Development Corp

Montgomery County Higher Education And Health Authority

CHARLOTTE-MECKLENBURG NC HOSP AUTH HLTH CARE SYS DV&DP

Homewood Educational Building Authority

Metropolitan Pier & Exposition Authority

Lee County Industrial Development Authority/FL

Metropolitan Transportation Authority

Distributions & Tax

Distribution Frequency
Ex-Dividend Fund: This type of fund declares periodic dividends, which are paid to shareholders who own the fund as of a certain date - known as the "record date". After the record date, the fund is said to be trading "ex-dividend"(literally, without the dividend). An investor who buys shares during the interval between the record date and the payment of the dividend does not receive the dividend. A fund that's in the ex-dividend period is marked with an "x" in newspaper listings.

Daily Accrual Fund: This type of fund typically declares income dividends each day that its net asset value is calculated. These dividends remain in the fund until the designated reinvestment or payment date and are distributed to the shareholders, generally once a month, as additional shares or cash, respectively.: -This fund is an Accrual fund.

Proposed 2026 distribution dates for Franklin, Templeton and Mutual Series funds (excluding ETFs).

Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.

Distributions Per Share
Distributions with future dates are estimates and those figures are not final

02/27/2026

01/30/2026

Pricing

Pricing History

As of 03/25/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 03/25/2026

Share Prices

As of 03/25/2026

NAV ¹(Net Asset Value): $9.09
POP ⁵(Public Offering Price): $9.09

52-Week Range

Highest NAV As of 02/27/2026: $9.38
Lowest NAV As of 04/09/2025: $8.72

Documents

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Franklin Templeton SMACS: Series H - Class A	Download Document
Checkbox	Annual Financial Statements and Other Information - Franklin Templeton Strategic Series	Download Document
Checkbox	Semi-Annual Report - Franklin Templeton SMACS: Series H - Class A	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Franklin Templeton Strategic Series	Download Document
Checkbox	Prospectus - Franklin Strategic Series SMACS	Download Document
Checkbox	Summary Prospectus - Franklin Templeton SMACS: Series H	Download Document
Checkbox	Statement of Additional Information - Franklin Strategic Series SMACSMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q1 Holdings - Franklin Strategic Series SMACSMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q3 Holdings - Franklin Strategic Series SMACSMailed hardcopies unavailable.	Download Document

Risks

All investments involve risks, including possible loss of principal. 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. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. An investor may be subject to the federal. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued. Alternative Minimum Tax, and state and local taxes may apply. These and other risks are discussed in the fund’s prospectus. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. These and other risks are discussed in the fund’s prospectus.

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.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results.

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.

The Bloomberg Municipal Bond Index is a broad measure of the municipal bond market with maturities of at least one year.
Source: Bloomberg Indices.

Footnotes

Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Public Offering Price – the purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations (NRSRO), such as S&P Global Ratings, Moody's Investors Service and Fitch Ratings, Inc. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO's opinion of an issuer's creditworthiness and typically range from AAA (highest) to D (lowest). The Refunded category consists of refunded bonds secured by the US government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. The Not Applicable category consists of third-party exchange-traded funds and securities that have only a short-term rating and are not cash equivalents. Cash includes equivalents, which may be rated. The methodology used for the calculation of credit quality ratings displayed may differ from the methodology for monitoring investment limits, if applicable. Please note, the portfolio itself has not been rated by an independent rating agency.

Personalize Your Experience

Welcome to the Franklin Templeton site for the United States.

Individual Investor

Financial Professional

Institutional Investor