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Managed Fund Since 2011
Equity
FEIQX Franklin Equity Income Fund
- Experienced management team with over 57 years of combined industry experience.
- Distinctive risk/reward profile.
- Broad diversification spread across multiple asset classes.
Popular Documents
Total Net Assets
$4.85B
As of 05/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund's investment goal is to maximize total return by emphasizing high current income and long-term capital appreciation, consistent with reasonable risk. The fund normally invests at least 80% of its net assets in equity securities, with a focus on financially-strong "blue chip" companies, and the remainder of its assets in other equity-related instruments such as convertible securities and equity-linked notes.
- Benchmark
- Russell 1000 Value Index
- Additional Benchmark
- S&P 500 Index
- Dividend Frequency, if any
- Quarterly
- Fund Inception Date
- 03/15/1988
Identifiers
- Ticker
- FEIQX
- Fund Number
- 369
- CUSIP Code
- 353612567
Average Annual Total Returns As of 05/31/2026
Class R6
- 25.44%1 Year
- 18.67%3 Years
- 11.16%5 Years
- 12.07%10 Years
- 9.73%Since Inception
03/15/1988
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Top Sectors
As of 05/31/2026 % of Total (Updated Monthly)
Financials19.89% | |
Information Technology13.84% | |
Industrials13.80% | |
Health Care11.60% | |
Consumer Staples7.66% |
Additional Fund Info
- Share Class Inception Date
- 05/01/2013
- Investment Style
- Equity Income
- Lipper Classification
- Equity Income Funds
- Morningstar Category
9 - Large Value
Manager and Commentary
About the Team
Franklin Equity understands innovation from every angle—our decades of experience investing in complex change fuels a differentiated perspective on how public and private companies accelerate growth and unlock value. Leveraging fundamental depth and quantitative precision, we identify catalysts for transformation that reshape companies and industries. Our expertise, spanning from growth to value, brings together diverse perspectives that help us spot opportunities ahead of the market.
Commentary Highlights
March 31, 2026- Markets: US equities endured a difficult first quarter of 2026 as investors reassessed the durability of the AI trade and geopolitical risk intensified. Technology-focused shares came under pressure as rising AI-related capital expenditure spurred a rotation away from mega-capitalization growth toward value stocks. At its two meetings during the quarter, the US Federal Reserve left its benchmark interest rate on hold. March brought further strain as the Middle East conflict disrupted energy markets, lifting oil prices and adding to inflation risk. The Nasdaq Composite Index underperformed the S&P 500 Index, while the Dow Jones Industrial Average proved more resilient. By investment style, value investing surpassed growth across market-cap tiers, with small- and mid-cap stocks performing better than their large-cap counterparts.
- Contributors: The fund (Advisor Class without sales charge) delivered a positive return that trailed the Russell 1000 Value Index. On an absolute basis, the energy sector was a leading driver of positive fund performance, benefiting from the effects of surging oil prices. The utilities sector was also a strong contributor as investors rotated into defensive stocks amid market volatility. In general, utilities have been supported by accelerating electricity demand, particularly from artificial intelligence-driven data centers. The industrials sector also produced solid gains on the back of strong defense spending and commercial aerospace demand.
- Detractors: The financials sector saw the biggest decline in the quarter as banks and asset managers were pressured by fears of potential future losses from exposure to alternative assets and rising interest rates resulting from a spike in oil prices and geopolitical tensions. The consumer discretionary and health care sectors further pressured performance.
- Outlook: We continue to believe that overall macroeconomic conditions could support broad market participation across sectors in 2026—similar to last year. While technology companies have driven most of the equity market gains in the past few years, we believe there are opportunities within industrials, health care, financials and utilities in 2026.
Franklin Equity
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Managed Fund Since 2025
Latest Insights
June 4, 2026
June 1, 2026
May 18, 2026
April 16, 2026
Performance
Average Annual Total Returns
As of 05/31/2026
Selected Month May 2026
Class R6 - With Sales Charge (POP) (%)
Month End
As of 05/31/2026
Class R6 - Without Sales Charge (NAV) (%)
Month End
As of 05/31/2026
Russell 1000 Value Index (%)
Month End
As of 05/31/2026
S&P 500 Index (%)
Month End
As of 05/31/2026
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 3
©2026 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.
Portfolio
Assets
As of05/31/2026 (Updated Monthly)
- Total Net Assets
- $4.85 Billion
Positions
As of 05/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 68
Portfolio Statistics
As of 05/31/2026 (Updated Monthly)
Price to Earnings (12-Month Trailing) 10
- Fund
- 25.33x
- Benchmark
- 22.45x
- Fund
- 3.70x
- Benchmark
- 3.32x
- Fund
- 2.24%
- Benchmark
- 1.68%
- Fund
- $626.90 Billion
- Benchmark
- $499.33 Billion
Market Capitalization Allocation 14
As of 05/31/2026 % of Equity (Updated Monthly)
| Market Capitalization | Fund |
|---|---|
| 10.0-25.0 Billion | 4.04% |
| 25.0-50.0 Billion | 8.92% |
| >50.0 Billion | 87.05% |
Holdings
As of 04/30/2026 (Updated Monthly)
JPMorgan Chase & Co COM USD1
Morgan Stanley COM USD.01
Alphabet Inc COM USD.001 CL A
Bank of America Corp COM USD.01
Johnson & Johnson COM USD1
Chevron Corp COM USD.75
Amazon.com Inc COM USD.01
Cisco Systems Inc COM NPV
Procter & Gamble Co/The COM NPV
Boeing Co/The 6% CNV PFD
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
Federal ID Number 94-6610016
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Mar 19
Jun 18
Sep 19
Dec 19
Supplemental Tax Information
- Foreign Source Income
- —
- Foreign Source Qualified Dividends
- —
- Direct U.S. Government Obligations
- —
- Specified Private Activity Bond Interest
- —
- Dividends Received Deduction
- 76.31%
- Section 163(j)
- —
- Indiana Resident Taxable Income
- —
- Utah Resident Taxable Income
- —
Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Equity Income Fund | |||
| Portfolio Holding Details - Franklin Equity Income Fund - 5/22/2026 | |||
| Product Commentary - Franklin Equity Income Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Equity Income Fund - Class R6 | |||
| Annual Financial Statements And Other Information - Franklin Investors securities Trust | |||
| Semi-Annual Report - Franklin Equity Income Fund Class R6 | |||
| Semiannual Financial Statements and Other Information - Franklin Investors Securities Trust | |||
| Prospectus - Franklin Investors Securities Trust #1 | |||
| Summary Prospectus - Franklin Equity Income Fund | |||
| Statement of Additional Information - Franklin Investors Securities Trust #1 | |||
| Fiscal Q1 Holdings - Franklin Investors Securities Trust Funds | |||
| Fiscal Q3 Holdings - Franklin Investors Securities Trust Funds |
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. Distributions are not guaranteed and are subject to change. Investments in equity-linked notes often have risks similar to their underlying securities, which could include management risk, market risk and, as applicable, foreign securities and currency risks. Real estate investment trusts (REITs) are closely linked to the performance of the real estate markets. REITs are subject to illiquidity, credit and interest rate risks, and risks associated with small- and mid-cap investments. Convertible securities are subject to the risks of stocks when the underlying stock price is high relative to the conversion price and debt securities when the underlying stock price is low relative to the conversion price. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. 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.
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.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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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.
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 Russell 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe.
Source: FTSE.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.