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FHQRX

Franklin High Income Fund

As of 11/04/2025

NAV 1

$1.75

$0.00 (0.00%)
 

POP 2

$1.82

 
 

YTD Total Return At NAV 3

7.13%

 
As of 09/30/2025

Morningstar Overall Rating™ 4

High Yield Bond

Overview

Fund Description

The fund seeks a high level of current income, with a secondary focus on capital appreciation, by investing predominantly in higher-yielding, lower-rated corporate bonds.

Strategy Statement

"The fund focuses on higher-yielding, lower-rated corporate bonds. We examine financial structure, cash flow, earnings prospects, market share and strategic positioning."

Voyles Glenn

Strategy & Benefits

Strategy
  • We conduct independent, bottom-up analysis focusing on critical factors that affect a company's long-term performance.
  • We seek to opportunistically invest in companies and sectors that are infrequently followed or are out of favor with the marketplace.
  • We adhere to a long-term disciplined approach through changing market environments, supported by separate risk management and quantitative research groups.
Benefits
  • Diversified Portfolio. We invest in hundreds of securities representing various industries, thereby helping to reduce the potential negative impact any one security or sector may have on the fund's overall performance.
  • Proven Track Record. With performance dating back to 1969, our fund has successfully navigated a variety of economic environments.
  • Global Fixed Income Expertise. Investors have full access to the research resources of the Franklin Templeton Fixed Income.

Investment Philosophy, Strategy and Approach

Investment Philosophy

Franklin Templeton Fixed Income believes that integrating top-down macroeconomic views, bottom up fundamental research, and quantitative science provides us with a competitive edge to navigate challenging investment environments, pursue consistent alpha, and better serve our clients.

Fund Information
Asset Class 
Fixed Income
Share Class Inception Date 
09/10/2018
Fund Inception Date 
12/31/1969
Benchmark 
ICE BofA US High Yield Constrained Index
Investment Style 
High Yield
Morningstar Category 
High Yield Bond
Lipper Classification 
High Yield Funds
Total Net Assets  As of 09/30/2025 (Updated Monthly)
$2.85 Billion
Dividends & Yields
Dividend Frequency, if any 
Monthly
Distribution Rate at NAV5  As of 11/04/2025 (Updated Daily)
6.38%
30-Day SEC Yield—With Waiver678  As of 09/30/2025 (Updated Monthly)
5.52%
30-Day SEC Yield—Without Waiver68  As of 09/30/2025 (Updated Monthly)
5.51%
Sales Charges, Expenses & Fees
As of 02/01/2025
Gross Expense Ratio9 
0.85%
Net Expense Ratio910 
0.84%
Maximum Initial Charge 
3.75%
CDSC11 
1.00%
12b-1 Fee 
0.25%
Identifiers
Ticker 
FHQRX
Fund Number 
1105
CUSIP Code 
353538887

Portfolio Managers

Glenn Voyles, CFA®

California, United States

Managed Fund Since 2015

Bryant Dieffenbacher, CFA®

Utah, United States

Managed Fund Since 2020

S. James McGiveran III, CFA®

Texas, United States

Managed Fund Since 2020

Patricia O'Connor, CFA®

California, United States

Managed Fund Since 2020

Performance

Portfolio

Portfolio Holdings

Distributions & Tax

Distributions

Distribution Schedules

Dividend Frequency, if any This fund is an ex-Dividend fund
Monthly
Capital Gain Distributions 
December

Rates and Yields

Read important information about results and other investment disclosures
Distribution Rate & Breakpoints
As of 11/04/2025
Less than $100,000 
6.13%
$100,000 - $249,999 
6.17%
$250,000 - $499,999 
6.23%
Distribution Rate
As of 11/04/2025
At Net Asset Value (NAV) 
6.38%
30-Day SEC Yield
As of 09/30/2025
w/ Waiver 
5.52%
w/o Waiver 
5.51%

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

Current Year Distributions Per Share
Distribution amounts may be estimates
Record Date  
12/24/2025
Ex-Dividend Date  
12/26/2025
Reinvestment Date  
12/26/2025
Payable Date  
12/26/2025
Reinvestment Amount  
Long-Term Capital Gains  
$0.0000-$0.0000 Estimates
Short-Term Capital Gains  
$0.0000-$0.0000 Estimates
Income  
Total Distribution Per Share  
Estimates
Record Date  
10/27/2025
Ex-Dividend Date  
10/28/2025
Reinvestment Date  
10/28/2025
Payable Date  
10/28/2025
Reinvestment Amount  
$1.76
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0093
Total Distribution Per Share  
$0.0093
Record Date  
09/24/2025
Ex-Dividend Date  
09/25/2025
Reinvestment Date  
09/25/2025
Payable Date  
09/25/2025
Reinvestment Amount  
$1.76
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0089
Total Distribution Per Share  
$0.0089
Record Date  
08/25/2025
Ex-Dividend Date  
08/26/2025
Reinvestment Date  
08/26/2025
Payable Date  
08/26/2025
Reinvestment Amount  
$1.75
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0091
Total Distribution Per Share  
$0.0091
Record Date  
07/25/2025
Ex-Dividend Date  
07/28/2025
Reinvestment Date  
07/28/2025
Payable Date  
07/28/2025
Reinvestment Amount  
$1.74
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0083
Total Distribution Per Share  
$0.0083
Record Date  
06/24/2025
Ex-Dividend Date  
06/25/2025
Reinvestment Date  
06/25/2025
Payable Date  
06/25/2025
Reinvestment Amount  
$1.74
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0091
Total Distribution Per Share  
$0.0091
Record Date  
05/22/2025
Ex-Dividend Date  
05/23/2025
Reinvestment Date  
05/23/2025
Payable Date  
05/23/2025
Reinvestment Amount  
$1.71
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0092
Total Distribution Per Share  
$0.0092
Record Date  
04/24/2025
Ex-Dividend Date  
04/25/2025
Reinvestment Date  
04/25/2025
Payable Date  
04/25/2025
Reinvestment Amount  
$1.70
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0094
Total Distribution Per Share  
$0.0094
Record Date  
03/25/2025
Ex-Dividend Date  
03/26/2025
Reinvestment Date  
03/26/2025
Payable Date  
03/26/2025
Reinvestment Amount  
$1.72
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0087
Total Distribution Per Share  
$0.0087
Record Date  
02/24/2025
Ex-Dividend Date  
02/25/2025
Reinvestment Date  
02/25/2025
Payable Date  
02/25/2025
Reinvestment Amount  
$1.73
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.009
Total Distribution Per Share  
$0.009
Record Date  
01/27/2025
Ex-Dividend Date  
01/28/2025
Reinvestment Date  
01/28/2025
Payable Date  
01/28/2025
Reinvestment Amount  
$1.73
Long-Term Capital Gains  
Short-Term Capital Gains  
Income  
$0.0086
Total Distribution Per Share  
$0.0086

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.

Tax Information

Tax Information

Federal ID Number 94-1693697
For information on tax years prior to 2008, please contact us
These 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 ($)
Record Date  
Jan 25
Ordinary Dividends  
0.0094
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Feb 23
Ordinary Dividends  
0.0088
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Mar 22
Ordinary Dividends  
0.0083
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Apr 24
Ordinary Dividends  
0.0103
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
May 24
Ordinary Dividends  
0.0085
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Jun 24
Ordinary Dividends  
0.0088
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Jul 25
Ordinary Dividends  
0.0092
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Aug 26
Ordinary Dividends  
0.0089
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Sep 24
Ordinary Dividends  
0.0088
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Oct 25
Ordinary Dividends  
0.0097
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Nov 22
Ordinary Dividends  
0.0089
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Dec 24
Ordinary Dividends  
0.009
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Record Date  
Ordinary Dividends  
0.1086
Qualified Dividends  
Capital Gain Distributions  
Unrecaptured Section 1250 Gain  
Non-Taxable Return Of Capital  
Section 199a Dividends  
Foreign Tax Paid  
Exempt Interest Dividends  
Interest on Tax Reclaim Refunds  
Supplemental Tax Information
Foreign Source Income 
Foreign Source Qualified Dividends 
Direct U.S. Government Obligations 
Specified Private Activity Bond Interest 
Dividends Received Deduction 
Section 163(j) 
98.29%
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

Pricing History Chart

As of 11/04/2025 Updated Daily

Daily Fund Prices and Breakpoints

As of 11/04/2025

Share Prices

As of 11/04/2025
NAV1 (Net Asset Value)
$1.75
NAV Change1 
$0.00
NAV Change (%)1 
0.00%
POP2 (Public Offering Price)
$1.82

52-Week Range

Highest NAV  As on 10/27/2025
$1.77
Lowest NAV  As on 04/07/2025
$1.66
POP and Sales Charge at Breakpoints

Investment

Sales Charge

POP

Less than $100,000 3.75%$1.82
$100,000 - $249,999 3.25%$1.81
$250,000 - $499,999 2.25%$1.79
POP and Sales Charge at Breakpoints
Investment  
Less than $100,000
Sales Charge  
3.75%
POP  
$1.82
Investment  
$100,000 - $249,999
Sales Charge  
3.25%
POP  
$1.81
Investment  
$250,000 - $499,999
Sales Charge  
2.25%
POP  
$1.79

Documents

Product Literature

PDF Format

Factsheet - Franklin High Income Fund

Regulatory Documents

PDF Format

Semi-Annual Report - Franklin High Income Fund - Class A

PDF Format

Annual Report - Franklin High Income Fund - Class A

PDF Format

Prospectus - Franklin High Income Fund

PDF Format

Summary Prospectus - Franklin High Income Fund

PDF Format

Statement of Additional Information - Franklin High Income Fund

Mailed hardcopies unavailable.

PDF Format

Fiscal Q1 Holdings - Franklin High Income Fund

Mailed hardcopies unavailable.

PDF Format

Fiscal Q3 Holdings - Franklin High Income Fund

Mailed hardcopies unavailable.

Risks

What Are the Risks?

All investments involve risks, including possible loss of principal. 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. 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. 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.

This website is intended for Primerica.