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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
$4.83B
As of 04/30/2026 (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 03/31/2026
Class R6
- 18.18%1 Year
- 15.26%3 Years
- 11.03%5 Years
- 11.50%10 Years
- 9.57%Since Inception
03/15/1988
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 04/30/2026 % of Total (Updated Monthly)
Financials20.25% | |
Industrials14.67% | |
Information Technology11.11% | |
Health Care10.81% | |
Consumer Staples8.35% |
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
April 16, 2026
April 2, 2026
February 18, 2026
Performance
Average Annual Total Returns
As of 03/31/2026
Selected Month March 2026
Class R6 - With Sales Charge (POP) (%)
Month End
As of 03/31/2026
Class R6 - Without Sales Charge (NAV) (%)
Month End
As of 03/31/2026
Russell 1000 Value Index (%)
Month End
As of 03/31/2026
S&P 500 Index (%)
Month End
As of 03/31/2026
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 of04/30/2026 (Updated Monthly)
- Total Net Assets
- $4.83 Billion
Positions
As of 04/30/2026 (Updated Monthly)
Number of Issuers
- Fund
- 67
Portfolio Statistics
As of 04/30/2026 (Updated Monthly)
Price to Earnings (12-Month Trailing) 10
- Fund
- 25.40x
- Benchmark
- 22.05x
- Fund
- 3.79x
- Benchmark
- 3.23x
- Fund
- $599.11 Billion
- Benchmark
- $482.02 Billion
- Fund
- 2.21%
- Benchmark
- 1.72%
Sector Allocation
As of 04/30/2026 % of Total (Updated Monthly)
| Sector | % of Total | Benchmark |
|---|---|---|
Financials | 20.25% | 19.52% |
Industrials | 14.67% | 13.34% |
Information Technology | 11.11% | 14.20% |
Health Care | 10.81% | 10.81% |
Consumer Staples | 8.35% | 7.19% |
Utilities | 7.34% | 4.40% |
Energy | 6.67% | 6.91% |
Consumer Discretionary | 6.66% | 7.06% |
Communication Services | 5.31% | 8.42% |
Real Estate | 4.34% | 3.98% |
Materials | 2.24% | 4.16% |
Cash & Cash Equivalents | 2.24% | — |
Holdings
As of 03/31/2026 (Updated Monthly)
JPMorgan Chase & Co COM USD1
Johnson & Johnson COM USD1
Morgan Stanley COM USD.01
Bank of America Corp COM USD.01
Chevron Corp COM USD.75
Alphabet Inc COM USD.001 CL A
Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
Procter & Gamble Co/The COM NPV
Cisco Systems Inc COM NPV
Amazon.com Inc COM USD.01
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
- Distribution Frequency
- QuarterlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 2.09%
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
03/19/2026
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Equity Income Fund | |||
| 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.
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.
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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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.