Fund Evaluator:
Franklin Convertible Securities A (FISCX)
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Best Performing in Convertibles Over the Last Year
| 24.2% | Harbor Ares Systematic Cnvrt Scs Ins (HACSX) |
| 24.1% | Fidelity Advisor Convertible Secs Z (FIQVX) |
| 24.0% | Fidelity Convertible Securities (FCVSX) |
| 23.8% | Harbor Ares Systematic Cnvrt Scs Inv (HICSX) |
| 21.1% | Invesco Convertible Securities Y (CNSDX) |
Fund Details
Franklin Convertible Securities A Overview
Franklin Convertible Securities A (FISCX) is an actively managed Allocation Convertibles fund. Franklin Templeton Investments launched the fund in 1987.
The investment seeks to maximize total return, consistent with reasonable risk, by seeking to optimize capital appreciation and high current income under varying market conditions. The fund normally invests at least 80% of its net assets in convertible securities. It may invest up to 100% of its assets in securities that are rated below investment grade; however, the fund will not invest more than 10% of its assets in non-convertible debt securities rated below B. It may invest up to 20% of its net assets in other securities, such as common or preferred stocks and non-convertible debt securities.
About Franklin Convertible Securities A (FISCX)
There are 2 members of the management team with an average tenure of 5.50 years: Eric Webster (2016), John Anderson (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA TR Alternat US Convts TR USD index with a weighting of 100%. Franklin Convertible Securities A has 75 securities in its portfolio. The top 10 holdings constitute 29.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Franklin Convertible Securities A is part of the Hybrid Securities global asset class and is within the Allocation fund group. Franklin Convertible Securities A has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.9%. There is 0.0% allocated to foreign stock, and 19.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 72.5% convertible bond). Franklin Convertible Securities A has 4.6% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $212 million average for the Convertibles category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FISCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin Convertible Securities A expense ratio is high compared to funds in the Convertibles category. Franklin Convertible Securities A has an expense ratio of 0.82%, which is 26% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin Convertible Securities A has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Convertibles category.
Recently, in the month of July 2026, Franklin Convertible Securities A returned -1.4%, which earned it a grade of B, as the Convertibles category had an average return of -4.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Franklin Convertible Securities A has a trailing yield of 1.17%, which is below the 1.71% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin Convertible Securities A Grades
Year to date, the fund has returned 10.1%, 2.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 18.7% over the past year (grade of D), 13.9% over the past three years (grade of D) and 6.2% per year over the past five years (grade of C) and 12.2% per year over the past 10 years (grade of B).
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FISCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FISCX Return (NAV) | -1.4% | 5.3% | 18.7% | 13.9% | 6.2% | 12.2% |
| FISCX Grade | B | A | D | D | C | B |
| +/- Category | 3.1% | 4.2% | -2.2% | 0.1% | 0.6% | 1.5% |
| Convertibles Avg | -4.5% | 1.1% | 20.9% | 13.8% | 5.6% | 10.7% |
| FISCX Tax Cost Ratio | na | na | 2.8% | 1.6% | 2.3% | 2.3% |
FISCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FISCX Return (NAV) | 10.1% | 13.5% | 15.8% | 10.0% | -15.9% | 7.4% | 46.2% | 23.9% | 4.3% | 17.9% | 7.7% |
| FISCX Grade | F | D | A | C | C | B | B | C | A | A | C |
| +/- Category | -2.9% | -2.6% | 4.6% | 1.3% | 2.0% | 2.5% | 3.8% | 1.0% | 5.8% | 4.1% | -0.4% |
| Convertibles Avg | 13.0% | 16.1% | 11.2% | 8.7% | -17.8% | 4.9% | 42.4% | 22.9% | -1.6% | 13.8% | 8.1% |
| Risk Measures | |
| Standard Deviation: | 10.1% |
| Total Risk Index: | 0.82 - Average |
| Category Risk Index: | 0.86 - Below Average |
| Category Risk Grade: | B (27% Rank) |
| Beta: | 0.93 |
| R-Squared: | 75% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3066 Mil |
| Fund Total Assets: | $1,042 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.4 years | |||
| Average Tenure: 5.5 years | |||
| Managers (Year): Webster Eric (2016), Anderson John (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 75 |
| % in Top 10 Holdings: | 29.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 3.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 19.1% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 72.5% |
| Other: | 0.0% |
| Cash: | 4.6% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | www.franklintempleton.com |
| Status: | Closed |
| Inception Date: | April 15, 1987 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.82% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.11% |
| Share Class: | Franklin Convertible Securities A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
