Finding Zen: Income Generation and Yield Volatility

While generating income is critical, yield volatility can also be unsettling for investors. Finding the right mix between income potential and yield volatility may help frame your client’s income expectations.

Over the 20-year period ended September 30, 2017, Franklin Income Fund has provided an attractive yield and yield volatility combination when compared to other asset classes.

CURRENT YIELDS AND STANDARD DEVIATION OF YIELDS1

Current Yields of Various Asset Classes and Franklin Income Fund 12-Month Yield at NAV2

For the 20-Year Period Ended September 30, 2017

Yield

Yield Standard Deviation

Treasuries, if held to maturity, offer a fixed rate of return and fixed principal value; their interest payments and principal are guaranteed.

Performance data represents past performance, which does not guarantee future results. Current performance may differ from the figures shown. A fund’s investment return and principal value will change with market conditions, and investors may have a gain or a loss when they sell their shares. Please view Franklin Income Fund’s most recent month-end performance and yield information.

Advisor Class shares are only offered to certain eligible investors as stated in the prospectus. They are offered without sales charges or Rule 12b-1 fees. The fund offers multiple share classes, which are subject to different fees and expenses that will affect their performance. Please see the prospectus for details.


Franklin Income Fund seeks to maximize income, while maintaining prospects for capital appreciation over the long term by:

Seeking undervalued securities unconstrained by asset classes or market cycles

Pursuing income across the capital structure of a company using stocks, convertible securities and bonds

Adjusting fund allocations without set proportions based on current market opportunities

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Set up time with your Franklin Templeton sales representative to learn more about the strategy, benefits and results of Franklin Income Fund.

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Average Annual Total Returns (for the Periods Ended September 30, 2017)

1-year3-year5-year10-yearSince Inception
(8/31/48)
Advisor Class2 12.09% 4.30% 7.05% 5.39% 10.29%
Class A6          
Without Sales Charge 11.86% 4.13% 6.94% 5.25% 10.23%
With 4.25% Initial Sales Charge   7.10% 2.63% 6.00% 4.80% 10.17%
 
Expense Ratio
Advisor Class 0.46%
Class A 0.61%
30-Day Standardized Yield
As of September 30, 20176
Advisor Class 3.89%
Class A 3.57%

Performance data represents past performance, which does not guarantee future results. Current performance may differ from the figures shown. A fund’s investment return and principal value will change with market conditions, and investors may have a gain or a loss when they sell their shares. Please view Franklin Income Fund’s most recent month-end performance and yield information.

Advisor Class shares are only offered to certain eligible investors as stated in the prospectus. They are offered without sales charges or Rule 12b-1 fees. The fund offers multiple share classes, which are subject to different fees and expenses that will affect their performance. Please see the prospectus for details.