Money Funds

FMFXX Franklin U.S. Government Money Fund

The fund invests in U.S. government securities, which may include fixed, floating and variable rate securities, as well as repurchase agreements collateralized fully by U.S. government securities or cash.
We only buy securities we believe present minimal credit risks.
We maintain a dollar-weighted average portfolio maturity of 60 days or less.

Overview

See the risks and other important information.

Fund Facts

Fund description

The investment objective of the fund is to seek high current income as is consistent with the preservation of shareholders' capital and liquidity. The fund will invest at least 99.5% of its total assets in the U.S. government securities, cash and repurchase agreements collateralized fully by the U.S. government securities or cash. The fund seeks to maintain a stable $1 share price.

Fund Inception Date: 05/01/1976
Dividend Frequency, if any: Monthly
Total Net AssetsAs of 12/31/2025 (Updated Monthly): $5.23 Billion
Total Net Assets (Master Fund)As of 2025-12-31 (Updated Monthly): $9.87 Billion
Shareholder Net Flow⁴As of 01/07/2026: $-7.61 Million
Shareholder Net Flow (Master Fund)⁴As of 01/08/2026: $-599.07 Million

Sales Charges, Expenses & Fees

As of 11/01/2025

Gross Expense Ratio⁵: 0.49%
Net Expense Ratio^5,6: 0.49%
Maximum Initial Charge: N/A
CDSC: N/A
12b-1 Fee: N/A

Identifiers

Ticker: FMFXX
Fund Number: 111
CUSIP Code: 354014102

Average Annual Total Returns As of 11/30/2025

View performance section for additional info As of 11/30/2025

Class A

With Sales Charge (POP)

Without Sales Charge (NAV)

3.87%1 Year
4.41%3 Years
2.81%5 Years
1.75%10 Years
4.24%Since Inception
05/01/1976

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.

Dividends & Yields

As of 01/08/2026

7-Day Effective Yield^7,8: 3.77%
7-Day Effective Yield—Without Waiver⁷: 3.77%
7-Day Current Yield^7,8: 3.70%
7-Day Current Yield—Without Waiver⁷: 3.70%

Additional Fund Info

Share Class Inception Date: 05/01/1976
Investment Style: Money Market
Morningstar Category⁹: Money Market-Taxable
Lipper Classification: N/A

Manager

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-drives approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income

Managed Fund Since 1997

Managed Fund Since 2024

Performance

Average Annual Total Returns

As of 11/30/2025

Month End

Quarter End

As of

Class A - Without Sales Charge (NAV) (%)

Month End

As of 11/30/2025

Class A - With Sales Charge (POP) (%)

Month End

As of 11/30/2025

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. 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.

Portfolio

Assets

As of11/30/2025 (Updated Monthly)

Total Net Assets ¹⁰: $5.20 Billion

Positions

Download All Holdings

Portfolio Statistics

As of 01/08/2026 (Updated Daily)

Weighted Average Life

As of 01/08/2026 (Updated Daily)

75 Days

12/31/2025

71 Days

11/30/2025

64 Days

10/31/2025

76 Days

09/30/2025

43 Days

08/31/2025

40 Days

07/31/2025

37 Days

Weighted Average Maturity

As of 01/08/2026 (Updated Daily)

16 Days

12/31/2025

20 Days

11/30/2025

23 Days

10/31/2025

32 Days

09/30/2025

23 Days

08/31/2025

21 Days

07/31/2025

24 Days

Holdings
As of 12/31/2025 (Updated Monthly)

As of

TMMP-THE U.S. GOVERNMENT MONEY MARKET PORTFOLIO OEMF USD 1 CL

Cash and Cash Equivalents

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
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.: MonthlyThis fund is an Accrual fund.
Capital Gain Distributions: December

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

Proposed 2025 distribution dates for Franklin, Templeton and Mutual Series funds (excluding ETFs).

Rates and Yields Read important information about results and other investment disclosures

7-Day Current Yield ^7,8

As of 01/08/2026 (Updated Daily)

w/ Waiver 3.70%

w/o Waiver 3.70%

7-Day Effective Yield ^7,8

As of 01/08/2026 (Updated Daily)

w/ Waiver 3.77%

w/o Waiver 3.77%

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

12/31/2025

11/28/2025

10/31/2025

09/30/2025

08/29/2025

07/31/2025

06/30/2025

05/30/2025

04/30/2025

03/31/2025

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

6 Month Historical Daily and Weekly Liquid Assets ^2,3

As of 01/08/2026

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download
Checkbox	Factsheet - Franklin U.S. Government Money Fund	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - August 31, 2025Mailed hardcopies unavailable.	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - December 31, 2025Mailed hardcopies unavailable.	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - July 31, 2025Mailed hardcopies unavailable.	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - November 30, 2025Mailed hardcopies unavailable.	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - October 31, 2025Mailed hardcopies unavailable.	Download Document
Checkbox	Portfolio Holdings - Franklin U.S. Government Money Fund - September 30, 2025Mailed hardcopies unavailable.	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Prospectus - Franklin U.S. Government Money Fund	Download Document
Checkbox	Summary Prospectus - Franklin U.S. Government Money Fund	Download Document
Checkbox	Annual Report - Franklin U.S. Government Money Fund - Class A	Download Document
Checkbox	Annual Financial Statements and Other Information - Franklin U.S. Government Money Fund	Download Document
Checkbox	Semi-Annual Report - Franklin U.S. Government Money Fund - Class A	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Franklin U.S. Government Money Fund	Download Document
Checkbox	Statement of Additional Information - Franklin U.S. Government Money FundMailed hardcopies unavailable.	Download Document

View Proxy Voting Records and Proxy Voting Policies

Risks

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress. Although the fund invests in U.S. government obligations, an investment in the fund is neither insured nor guaranteed by the U.S. government.

All investments involve risk, including loss of principal. The fund's yield may be affected by changes in interest rates and changes in credit ratings. These and other risks are discussed in the fund’s prospectus.

Important Information

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

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.

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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.

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.
Fund filings of the Monthly Schedule of Portfolio Holdings of Money Market Funds are available at Form N-MFP. Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.

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.
Rule 2a-7 of the Investment Company Act of 1940 provides that money market funds may not acquire any security other than a “weekly liquid asset” unless, immediately following such purchase, at least 50% of its total assets would be invested in weekly liquid assets. In addition, the Rule provides that taxable money market funds may not acquire any security other than a “daily liquid asset” unless, immediately following such purchase, at least 25% of its total assets would be invested in daily liquid assets.

Daily Liquid Assets include (i) cash; (ii) direct obligations of the U.S. Government; and (iii) securities that will mature or are subject to a demand feature that is exercisable and payable within one business Day. May include the effect of receivables from pending sales and payables from pending purchases.

Weekly Liquid Assets include (i) cash; (ii) direct obligations of the U.S. Government; (iii) U.S. Government securities issued by a person controlled or supervised by and acting as an instrumentality of the U.S. Government pursuant to authority granted by the U.S. Congress, that are issued at a discount to the principal amount to be repaid at maturity and have a remaining maturity of 60 days or less; and (iv) securities that will mature or are subject to a demand feature that is exercisable and payable within five business Days. May include the effect of receivables from pending sales and payables from pending purchases.
Daily Liquid Assets and Weekly Liquid Assets are calculated at the master portfolio level.
Based on 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.
The 7-day Current Yield represents net interest income generated by the investments for the past 7 days and assumes that the same income is generated each week over a 365-day period. The 7-day yield more closely reflects current fund earnings than does total returns. 7-day Effective Yield, assumes reinvest of the coupon (interest payments). Unlike Current Yield, Effective Yield takes into account the power of compounding on investment returns. Yields for other share classes may vary due to differences in sales charge structure and class expenses.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
©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.
Assets are reported at the fund level.
Shadow NAV is the market-based net asset value per share of a fund calculated based on current market factors, before applying the amortized cost method. The Funds do not use a market-based NAV for purchase and sale transactions in Fund shares.

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FMFXX Franklin U.S. Government Money Fund

Popular Documents

Overview

Fund Facts

Fund description

Sales Charges, Expenses & Fees

Identifiers

Average Annual Total Returns As of 11/30/2025

Class A

Dividends & Yields

Additional Fund Info

Manager

About the Team

Performance

Average Annual Total Returns

Portfolio

Assets

Positions

Portfolio Statistics

Holdings
As of 12/31/2025 (Updated Monthly)

Distributions & Tax

Rates and Yields Read important information about results and other investment disclosures

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

Pricing

6 Month Historical Daily and Weekly Liquid Assets ^2,3

Documents

Risks

Important Information

Footnotes