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Managed Fund Since 2019
Equity
FRDPX Franklin Rising Dividends Fund
- Diversification. We invest in companies across the entire market-cap spectrum, with a variety of industries and sectors.
- High-quality companies. A portfolio of select dividend growth companies that are financially sound, primarily US-based and generate consistent dividend increases.
- Tenured investment team. Actively managed by a seasoned portfolio management team that leverages the research resources of Franklin Equity Group and focused on dividend growth investing.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks long-term capital appreciation by investing at least 80% of its net assets in companies of any size that have paid consistently rising dividends.
- Benchmark
3 - Linked NASDAQ US Broad Dividend Achievers Index
- Additional Benchmark
- S&P 500 Index
- Fund Inception Date
- 01/14/1987
- Dividend Frequency, if any
- Quarterly
- Portfolio Turnover
- 11%
Identifiers
- Ticker
- FRDPX
- Fund Number
- 158
- CUSIP Code
- 353825102
Average Annual Total Returns As of 08/31/2026
Class A
- 4.79%1 Year
- 10.07%3 Years
- 6.34%5 Years
- 10.91%10 Years
- 9.66%Since Inception
01/14/1987
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 08/31/2026 % of Total (Updated Monthly)
Financial Services12.91% | |
Pharmaceuticals, Biotechnology & Life Sciences11.83% | |
Capital Goods10.55% | |
Semiconductors & Semiconductor Equipment10.40% | |
Software & Services9.07% |
Additional Fund Info
- Share Class Inception Date
- 01/14/1987
- Investment Style
- Blend
- Lipper Classification
- Large-Cap Core Funds
- Morningstar Category
6 - Large Blend
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
June 30, 2026- Markets: US equities rebounded strongly during the second quarter of 2026, recovering from a weak start to the year as investor confidence improved despite ongoing geopolitical uncertainty. Sentiment was supported by robust corporate earnings, particularly from companies exposed to AI infrastructure, with continued increases in capital expenditure reinforcing confidence that the AI investment cycle remained intact. The easing of Middle East tensions and a decline in oil prices helped alleviate inflation concerns, encouraging a broad recovery in risk assets. By June, however, the rally had become more selective as investors began to question the scale, financing and return profile of the next phase of AI-related capital expenditure. By investment style, growth investing broadly surpassed value.
- Contributors: Consumer staples, communication services and energy.
- Detractors: Information technology, consumer discretionary and health care.
- Outlook: While macro uncertainty may contribute to bouts of volatility, we believe that well-managed businesses with the ability to grow free cash flow and reinvest can improve their competitive positioning and pursue opportunities for capital appreciation, while increasing their dividends over time.
Franklin Equity
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Managed Fund Since 2019
Latest Insights
September 30, 2026
September 21, 2026
September 17, 2026
September 15, 2026
Performance
Calendar Year Returns
As of 08/31/2026
Class A - With Sales Charge (POP) (%)
Class A - Without Sales Charge (NAV) (%)
Linked NASDAQ US Broad Dividend Achievers Index (%)
S&P 500 Index (%)
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 9
©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 of08/31/2026 (Updated Monthly)
- Total Net Assets
- $27.24 Billion
Positions
As of 08/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 56
- Benchmark
- 428
Portfolio Statistics
As of 08/31/2026 (Updated Monthly)
Price to Earnings (12-Month Trailing) 7
- Fund
- 27.92x
- Benchmark
- 24.37x
- Fund
- 17.59x
- Benchmark
- 16.67x
- Fund
- 5.85x
- Benchmark
- 4.90x
- Fund
- 1.46%
- Benchmark
- 1.83%
- Fund
- $836.57 Billion
- Benchmark
- $692.83 Billion
Asset Allocation
As of 08/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 98.61% |
Cash & Cash Equivalents | 1.39% |
Holdings
As of 08/31/2026 (Updated Monthly)
Microsoft Corp
Broadcom Inc
Apple Inc
JPMorgan Chase & Co
Eli Lilly & Co
Visa Inc
Johnson & Johnson
WALMART INC
Morgan Stanley
Oracle Corp
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
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
07/17/2026
04/17/2026
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
Pricing History
As of 10/05/2026 (Updated Daily)
Daily Fund Prices and Breakpoints
As of 10/05/2026
Share Prices
As of 10/05/2026
POP and Sales Charge at Breakpoints
Less than $25,000
$25,000 - $49,999
$50,000 - $99,999
$100,000 - $249,999
$250,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
52-Week Range
- Highest NAV
As of 12/11/2025 - $100.48
- Lowest NAV
As of 03/30/2026 - $86.23
Documents
Fund Literature
Factsheet - Franklin Rising Dividends Fund
Portfolio Holdings - Franklin Rising Dividends Fund -09-24-26
Product Commentary - Franklin Rising Dividends Fund
Brochure - Franklin Rising Dividends Fund
Regulatory Documents
Annual Report - Franklin Rising Dividends Fund - Class A
Annual Financial Statements and Other Information - Franklin Rising Dividends Fund
Semi-Annual Report - Franklin Rising Dividends Fund - Class A
Semi-Annual Financial Statements and Other Information - Franklin Rising Dividends Fund
Prospectus - Franklin Rising Dividends Fund
Summary Prospectus - Franklin Rising Dividends Fund
Statement of Additional Information - Franklin Rising Dividends Fund
Fiscal Q1 Holdings - Franklin Rising Dividends Fund
Fiscal Q3 Holdings - Franklin Rising Dividends Fund
Risks
All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Dividends may fluctuate and are not guaranteed, and a company may reduce or eliminate its dividend at any time. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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 Linked NASDAQ US Broad Dividend Achievers® Index reflects performance of the S&P 500 Index from the fund's inception through 12/05/2003 and NASDAQ US Broad Dividend Achievers® Index thereafter.
The NASDAQ US Broad Dividend Achievers® Index includes US companies with at least ten consecutive years of increasing annual dividend payments.
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.
All Putnam-named funds and Franklin Retirement Advantage, Franklin Dynamic Asset Allocation, and Franklin Multi-Asset Income-named funds and Royce funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.