FBDAX Fees and Costs — Franklin Total Return Fund, Advisor Class
Data updated: 2026-09-25
The net expense ratio is 0.48%: a 0.49% management fee plus 0.17% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $47K in broker commissions, 0.0015% of average net assets, and portfolio turnover was 234%.
FBDAX Fees and Expenses
Annual operating expenses and sales charges of FBDAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.17% |
| Gross expense ratio | 0.67% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.48% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FBDAX Costs Over Time
On $10,000 invested in FBDAX, assuming 5% a year before costs, total costs come to $304 over 5 years, cutting the return by 0.51% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.48%) | $50 | $158 | $276 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $166 | $304 |
| Value after costs | $10,449 | $11,410 | $12,458 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
FBDAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0015%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): $19.8B
- Portfolio turnover (prospectus): 234%
- Securities on loan, average value: $23K
- Net income from securities lending: $3K (0.000% of average net assets)
FBDAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $47K | 100.00% |
FBDAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5.6B | 29.13% |
| Wells Fargo Securities, LLC | $4.6B | 23.81% |
| BofA Securities, Inc. | $4.0B | 20.86% |
| Morgan Stanley & Co. LLC | $2.8B | 14.70% |
| Goldman Sachs & Co. LLC | $1.3B | 6.58% |
| Citigroup Global Markets Inc. | $404.2M | 2.10% |
| Barclays Capital, Inc. | $228.4M | 1.19% |
| Bank of Montreal | $114.5M | 0.60% |
| BNP Paribas Securities Corp. | $106.7M | 0.56% |
| Nomura Securities International, Inc. | $93.0M | 0.48% |
Franklin Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FRERX | Class R6 | 0.38% | none |
| FBDAX | Advisor Class | 0.48% | none |
| FKBAX | Class A | 0.73% | 3.75% |
| FTRRX | Class R | 0.98% | none |
| FCTLX | Class C | 1.13% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.