FDAAX Fees and Costs — Franklin Floating Rate Daily Access Fund, Advisor Class
Data updated: 2026-09-25
The net expense ratio is 0.70% (0.72% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 46%.
FDAAX Fees and Expenses
Annual operating expenses and sales charges of FDAAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.57% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.72% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.70% |
| 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 |
FDAAX Costs Over Time
On $10,000 invested in FDAAX, assuming 5% a year before costs, total costs come to $441 over 5 years, cutting the return by 0.74% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $241 | $441 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
FDAAX 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): 0.0002%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $18.0B
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $2.2M
- Net income from securities lending: $21K (0.001% of average net assets)
FDAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $2K | 100.00% |
FDAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $12.3B | 69.15% |
| BNP Paribas Securities Corp. | $2.5B | 14.10% |
| HSBC Securities (USA) Inc. | $1.6B | 8.98% |
| Deutsche Bank Securities Inc. | $836.1M | 4.69% |
| Goldman Sachs & Co. LLC | $166.5M | 0.93% |
| BofA Securities, Inc. | $114.7M | 0.64% |
| Morgan Stanley & Co. LLC | $110.1M | 0.62% |
| Citigroup Global Markets Inc. | $66.6M | 0.37% |
| Barclays Capital, Inc. | $58.9M | 0.33% |
| Wells Fargo Securities, LLC | $33.4M | 0.19% |
Franklin Floating Rate Daily Access Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FFRDX | Class R6 | 0.62% | none |
| FDAAX | Advisor Class | 0.70% | none |
| FAFRX | Class A | 0.95% | 2.25% |
| FCFRX | Class C | 1.35% | 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.