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Managed Fund Since 2018
Fixed Income Active
FLHY Franklin High Yield Corporate ETF
- Active management. Pursues strong risk-adjusted returns and a high level of current income through security selection, industry allocation, duration management and cross-border opportunities in the high-yield bond universe.
- Disciplined investment process. Highest conviction research ideas are expected to be key drivers of alpha. Long-term investment horizon and keen risk management allows the team to be contrarian during bouts of market volatility.
- Expertise. Managed by a seasoned investment team specializing in high-yield corporate bonds since 1969, utilizing a large and experienced global credit research analyst team.
Popular Documents
Total Net Assets
$696.45M
As of 11/16/2025 (Updated Daily)
Overview
Fund Facts
Fund description
The fund seeks a high level of current income with a secondary goal of seeking capital appreciation. The fund invests at least 80% of its net assets in high yield corporate debt securities and investments that provide exposure to high yield corporate debt securities.
- Benchmark
- ICE BofA US High Yield Constrained Index
- Fund Inception Date
- 05/30/2018
- Listing Exchange
- Cboe
- Dividend Frequency, if any
- Monthly
- Distribution Rate at NAV
4 As of 11/13/2025 (Updated Daily) - 7.11%
Identifiers
- Ticker
- FLHY
- CUSIP Code
- 35473P629
- ISIN Code
- US35473P6299
- Bloomberg Code
- FLHY US
Average Annual Total Returns As of 10/31/2025
- 8.52%1 Year
- 10.67%3 Years
- 5.46%5 Years
- —10 Years
- 5.98%Since Inception
05/30/2018
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.
As of 11/13/2025 % of Total (Updated Daily)
Additional Fund Info
- Fiscal Year End
- March 31
- ETF Type
- Active
- Morningstar Category
- High Yield Bond
Trading Characteristics
- Shares Outstanding
- 28,700,000
- Daily Volume
- 91,762
- 20-Day Average Volume
- 181873.20
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
Franklin Templeton Fixed Income is a fixed income specialist with a measured "no surprises" approach that is committed to the goal of delivering clients consistent, predictable fixed income results. We pursue dimensional sources of potential alpha across all global fixed income securities, sectors, and markets.
Commentary Highlights
September 30, 2025- Markets: Market sentiment improved across the third quarter of 2025 (Q3) due to a partial resolution of some of the outstanding market uncertainties. On the trade front, a deal was reached between the Trump administration and some of the largest US trading partners, such as the United Kingdom, the European Union and Japan. Although no agreement was made with China, there was a 90-day pause in many of the across-the-board increases. At its September meeting, the Fed cut the fed funds rate by 25 bps and signaled that more cuts were likely to come by the end of this year. Over the period, US Treasury (UST) yields moved lower, with the yield curve steepening.
- Contributors: Security selection in the energy sector. Overweight exposure to the media non-cable sector.
- Detractors: Security selection in media non-cable sector.
- Outlook: Overall, we remain constructive on high-yield (HY) corporate credit and believe it offers a reasonable loss adjusted carry but acknowledge that valuations do not offer much upside potential from here.
Franklin Templeton Fixed Income
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Managed Fund Since 2020
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Managed Fund Since 2024
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Managed Fund Since 2018
Latest Insights
November 12, 2025
October 30, 2025
October 28, 2025
October 9, 2025
Performance
Average Annual Total Returns
As of 10/31/2025
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. Returns are based on Market Price or NAV, assume the reinvestment of all distributions and the deduction of all Fund expenses. Performance would have been lower if expenses had not been waived in various periods. Returns for periods of less than one year are not annualized.
Selected Month October 2025
Franklin High Yield Corporate ETF - Market Price Return (%)
Month End
As of 10/31/2025
Franklin High Yield Corporate ETF - NAV Return (%)
Month End
As of 10/31/2025
ICE BofA US High Yield Constrained Index (%)
Month End
As of 10/31/2025
Ratings 3
©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.
Portfolio
Assets
As of11/16/2025 (Updated Daily)
- Total Net Assets
- $696.45 Million
Positions
As of 11/13/2025 (Updated Daily)
Number of Holdings
- Fund
- 267
Portfolio Statistics
As of 11/13/2025 (Updated Daily)
Option Adjusted Spread Duration 10
- Fund
- 253BPS
- Benchmark
- 309BPS
- Fund
- 3.80 Years
- Benchmark
- 3.69 Years
- Fund
- 3.04 Years
- Benchmark
- 2.95 Years
Maturity Allocation
As of 11/13/2025 - Market Value % of Total (Updated Daily)
| Maturity | Fund | Benchmark |
|---|---|---|
| 0 to 1 Year | 8.69% | 8.25% |
| 1 to 2 Years | 5.09% | 10.38% |
| 2 to 3 Years | 12.57% | 17.74% |
| 3 to 5 Years | 59.86% | 46.79% |
| 5 to 7 Years | 8.73% | 11.18% |
| 7 to 10 Years | 4.31% | 4.18% |
| 10 to 15 Years | 0.24% | 0.67% |
| 15 to 20 Years | 0.35% | 0.51% |
Holdings
As of 11/13/2025 (Updated Daily)
IFT - MONEY MARKET PORT
Net Current Assets
DAVITA INC 4.625 6/30
RR DONNELLEY 9.5 8/29
WATCO COS LLC/ 7.125 8/32
BEACH ACQUISITIO 10 7/33
CONCENTRA HEAL 6.875 7/32
KEDRION SPA 6.5 9/29
WRANGLER HOLDC 6.625 4/32
EFESTO BIDCO 7.5 2/32
Distributions & Tax
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 7.11%
At Market Price 7.12%
Distributions are not guaranteed and are subject to change.
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
11/04/2025
10/02/2025
09/02/2025
08/01/2025
07/01/2025
06/02/2025
05/01/2025
04/01/2025
03/03/2025
02/03/2025
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 11/14/2025 (Updated Daily)
Daily Fund Prices
As of 11/14/2025
Share Prices
As of 11/14/2025
52-Week Range
- Highest NAV
As of 10/28/2025 - $24.55
- Lowest NAV
As of 04/07/2025 - $23.07
- Highest Market Price
As of 09/22/2025 - $24.56
- Lowest Market Price
As of 04/08/2025 - $22.87
Premium / Discount
As of 11/14/2025
- 30-Day Median Bid/Ask Spread
- 0.04%
- Bid / Ask Spread
- $0.01
- Avg. of Market Price vs. NAV since Inception
- 0.16%
- Avg. of Market Price vs. NAV at Close
11 - -0.16%
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin High Yield Corporate ETF | |||
| Product Commentary - Franklin High Yield Corporate ETF |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin High Yield Corporate ETF - Single Class | |||
| Annual Financial Statements and Other Information - Franklin Templeton ETF Trust 2 | |||
| Semi-Annual Report - Franklin High Yield Corporate ETF - Single Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Income Equity Focus ETF | |||
| Prospectus - Franklin Templeton ETF Trust 2 Active Funds | |||
| Summary Prospectus - Franklin High Yield Corporate ETF | |||
| Statement of Additional Information - Franklin Templeton ETF Trust 2 Active Funds | |||
| Fiscal Q1 Holdings - Franklin Templeton ETF Trust Smart Beta Funds | |||
| Fiscal Q3 Holdings - Franklin Templeton ETF Trust Smart Beta Funds |
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. Distributions are not guaranteed and are subject to change. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. 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. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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
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.
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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.
All investments involve risk, including possible loss of principal. Please see each product's web page for specific details regarding investment objective, risks, performance, and other important information. Review this information carefully before you make any investment decision. Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.
Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully.
Franklin Templeton, its affiliated companies, 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. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
ETFs trade like stocks, fluctuate in market value and may trade at prices above or below their net asset value. Brokerage commissions and ETF expenses will reduce returns. ETF shares may be bought or sold throughout the day at their market price (MP), not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market. Prior to trading in the secondary market, shares of the fund are "created" at NAV by market makers, large investors and institutions only in block-size Creation Units. Each "creator" or "Authorized Participant" enters into an authorized participant agreement with Franklin Distributors, LLC. Only an Authorized Participant may create or redeem Creation Units directly with the fund. Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.
Franklin Distributors, LLC serves as the distributor of Creation Units for the ETFs on an agency basis. Franklin Distributors, LLC does not maintain a secondary market in the funds' shares.
Redemption payments will be effected within the specified number of calendar days following the date on which a request for redemption in proper form is made. For more information, please see the ETF’s statement of additional information (SAI) which can be found on the fund’s webpage.
The ICE BofA US High Yield Constrained Index measures the performance of USD-denominated, noninvestment grade, fixed rate and taxable corporate bonds.
Source: The index data referenced herein is the property of Intercontinental Exchange ("ICE") and/or its licensors and has been licensed for use by Franklin Templeton. ICE and its licensors accept no liability in connection with this use.