LU0128525689
Templeton Global Value and Income Fund
NAV 1
$43.91
NAV Change 1
$0.09
Morningstar Overall Rating™ 2
Overall Morningstar Rating
Rating Category: USD Moderate Allocation
Morningstar Style Box
| Large | Size | |||
|---|---|---|---|---|
| Medium | ||||
| Small | ||||
| Value | Blend | Growth | ||
| Style | ||||
Historical Morningstar Ratings
| Years | 3 |
| Ratings | |
| Number of Funds In Category | 1193 |
| Years | 5 |
| Ratings | |
| Number of Funds In Category | 969 |
| Years | 10 |
| Ratings | |
| Number of Funds In Category | 518 |
This is a marketing communication. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.
Overview
- Summary of Fund Objective
- Investor Profile
- Why Consider this Fund
- What Are The Key Risks?
Summary of Fund Objective
To seek to maximise income and growth of capital (total return). The Fund mainly invests in equities of companies and corporate and government bonds from anywhere in the world, including Mainland China and other emerging markets.
Investor Profile
- Seeking a combination of capital appreciation and a level of income.
- Seeking to access a portfolio of both equity and fixed income securities via a single fund.
- Planning to hold their investment for the medium to long term.
Why Consider this Fund
Strategy
- Integrated, Multi-Asset Approach to Value Creation. The equity and fixed income teams work closely together to structure portfolios that seek to optimize risk-reward and generate healthy total shareholder yield. The strategy’s approach to diversification seeks to identify the numerous ways that value is created in financial markets and to exploit synergies between asset classes and value exposures.
- Value-Oriented Stock Selection. We apply rigorous fundamental analysis to find stocks selling at large discounts to our assessment of their long-term intrinsic value. Dividend yield is also an important criterion because of the fund’s additional focus on income.
- High-Conviction, Unconstrained Global Bond Selection. On the fixed income side, we utilize a research-intensive, fundamentals-based approach that seeks to capitalize on temporary inefficiencies and capture long-term potential value across yield curves (interest rates), currencies, and credit spreads without being constrained by traditional global fixed income benchmarks.
Potential Benefits
- Global Expertise. The fund combines the global expertise and research resources of the Templeton Global Equity Group and Templeton Global Macro to offer an integrated, multi-asset investment strategy focused on long-term fundamental value. Close collaboration and aligned objectives between the investment teams seek to result in a dynamic portfolio.
- Global Diversification. The team’s global resources and regional market expertise provides the flexibility to adjust exposures across fluctuating market environments and all phases of the investment cycle.
- Professional, Dynamic Asset Allocation. Asset allocation decisions are a team effort that take into consideration asset class valuations, volatility levels and underlying fundamentals to search out appropriately balanced, high-conviction value portfolios. Depending on valuations and other factors, the investment team has the flexibility to adjust the allocation as necessary.
What Are The Key Risks?
The Fund does not offer any capital guarantee or protection and you may not get back the amount invested.
- The Fund is subject to the following risks which are materially relevant:
Chinese Market risk: In addition to typical risks linked to Emerging Markets, investments in China are subject to economic, political, tax and operational risks specific to the Chinese Market. Please also refer to the prospectus for China QFII risk, Bond Connect risk and Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect risk.
Credit risk: the risk of loss arising from default that may occur if an issuer fails to make principal or interest payments when due. This risk is higher if the Fund holds low-rated, sub-investment-grade securities.
Derivative Instruments risk: the risk of loss in an instrument where a small change in the value of the underlying investment may have a larger impact on the value of such instrument. Derivatives may involve additional liquidity, credit and counterparty risks.
Emerging markets risk: the risk related to investing in countries that have less developed political, economic, legal and regulatory systems, and that may be impacted by political/economic instability, lack of liquidity or transparency, or safekeeping issues.
Foreign Currency risk: the risk of loss arising from exchange-rate fluctuations or due to exchange control regulations.
Liquidity risk: the risk that arises when adverse market conditions affect the ability to sell assets when necessary. Such risk may be triggered by (but not limited to) unexpected events such as environmental disasters or pandemics. Reduced liquidity may have a negative impact on the price of the assets.
Complete information on the risks of investing in the Fund are set out in the Fund's prospectus.
Fund Information
Sales Charges, Expenses & Fees 3
Identifiers
Portfolio Managers
Performance
- Discrete Annual Returns
- Cumulative Total Returns
- Average Annual Total Returns
- Calendar Year Returns
- Risk Measures
Discrete Annual Returns
Discrete Annual Returns
Past performance does not predict future returns.
Chart
Month End As of 30/09/2025 | Currency | Sep-24 / Sep-25 | Sep-23 / Sep-24 | Sep-22 / Sep-23 | Sep-21 / Sep-22 | Sep-20 / Sep-21 | Sep-19 / Sep-20 | Sep-18 / Sep-19 | Sep-17 / Sep-18 | Sep-16 / Sep-17 | Sep-15 / Sep-16 | Performance Inception Date | Fund Overview | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) (%) | USD | 11.06 | 18.71 | 17.17 | -20.45 | 19.89 | -0.44 | -3.82 | 0.29 | 15.53 | 4.09 | 14/05/2001 | ||
| Custom 60% MSCI ACWI-NR + 40% JP Morgan Global Government Bond Index (%) | USD | 11.14 | 23.97 | 13.32 | -20.59 | 15.85 | 9.75 | 4.28 | 5.73 | 10.65 | 11.34 | — |
Month End As of 30/09/2025 | Currency | Sep-24 / Sep-25 | Sep-23 / Sep-24 | Sep-22 / Sep-23 | Sep-21 / Sep-22 | Sep-20 / Sep-21 | Sep-19 / Sep-20 | Sep-18 / Sep-19 | Sep-17 / Sep-18 | Sep-16 / Sep-17 | Sep-15 / Sep-16 | Performance Inception Date | Fund Overview | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) EUR - Without Sales Charge (NAV) (%) | EUR | 5.34 | 12.71 | 8.60 | -5.95 | 21.35 | -7.43 | 2.42 | 2.09 | 9.89 | 3.56 | 13/12/2004 | ||
| A (Qdis) USD - Without Sales Charge (NAV) (%) | USD | 11.09 | 18.65 | 17.18 | -20.43 | 19.85 | -0.46 | -3.81 | 0.26 | 15.54 | 4.10 | 01/06/1994 |
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Performance details provided are in share class currency, include the reinvested dividends gross of basic rate tax and are net of management fees. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Cumulative Total Returns
Cumulative Total Returns
Past performance does not predict future returns.
2001
2025
Chart
Month End As of 30/09/2025 | Currency | YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 14/05/2001 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) (%) | USD | 16.79 | 2.32 | 4.80 | 12.10 | 11.06 | 54.47 | 47.33 | 70.14 | 107.33 | 229.29 | |
| Custom 60% MSCI ACWI-NR + 40% JP Morgan Global Government Bond Index (%) | USD | 14.26 | 2.41 | 4.71 | 14.06 | 11.14 | 56.13 | 43.62 | 114.09 | 168.89 | 341.27 |
Month End As of 30/09/2025 | Currency | YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception |
| Fund Overview | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) EUR - Without Sales Charge (NAV) (%) | EUR | 3.04 | 1.96 | 5.16 | 3.24 | 5.34 | 28.94 | 47.15 | 62.09 | 140.87 | 171.37 | 13/12/2004 | ||
| A (Qdis) USD - Without Sales Charge (NAV) (%) | USD | 16.75 | 2.33 | 4.78 | 12.11 | 11.09 | 54.45 | 47.30 | 70.07 | 107.19 | 403.12 | 01/06/1994 |
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Performance details provided are in share class currency, include the reinvested dividends gross of basic rate tax and are net of management fees. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Average Annual Total Returns
Average Annual Total Returns
Past performance does not predict future returns.
Chart
Month End As of 30/09/2025 | Currency | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 14/05/2001 | |
|---|---|---|---|---|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) (%) | USD | 11.06 | 15.59 | 8.06 | 5.46 | 4.98 | 5.01 | |
| Custom 60% MSCI ACWI-NR + 40% JP Morgan Global Government Bond Index (%) | USD | 11.14 | 16.01 | 7.51 | 7.91 | 6.82 | 6.28 |
Month End As of 30/09/2025 | Currency | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception |
| Fund Overview | |
|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) EUR - Without Sales Charge (NAV) (%) | EUR | 5.34 | 8.84 | 8.03 | 4.95 | 6.04 | 4.92 | 13/12/2004 | ||
| A (Qdis) USD - Without Sales Charge (NAV) (%) | USD | 11.09 | 15.59 | 8.05 | 5.45 | 4.98 | 5.29 | 01/06/1994 |
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Performance details provided are in share class currency, include the reinvested dividends gross of basic rate tax and are net of management fees. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Calendar Year Returns
Calendar Year Returns
Past performance does not predict future returns.
Chart
Month End As of 30/09/2025 | Currency | YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | Performance Inception Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) (%) | USD | 16.79 | 2.57 | 14.92 | -11.66 | 5.74 | 6.32 | 13.89 | -10.65 | 15.52 | 3.82 | -6.12 | 14/05/2001 | |
| Custom 60% MSCI ACWI-NR + 40% JP Morgan Global Government Bond Index (%) | USD | 14.26 | 9.73 | 15.62 | -17.76 | 9.25 | 14.69 | 19.27 | -6.22 | 17.72 | 5.82 | -2.22 | — |
Month End As of 30/09/2025 | Currency | YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | Performance Inception Date | Fund Overview | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A (acc) EUR - Without Sales Charge (NAV) (%) | EUR | 3.04 | 9.35 | 11.40 | -6.10 | 13.57 | -2.41 | 16.36 | -6.44 | 1.33 | 7.16 | 4.60 | 13/12/2004 | ||
| A (Qdis) USD - Without Sales Charge (NAV) (%) | USD | 16.75 | 2.62 | 14.90 | -11.70 | 5.75 | 6.32 | 13.92 | -10.70 | 15.56 | 3.76 | -6.06 | 01/06/1994 |
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Performance details provided are in share class currency, include the reinvested dividends gross of basic rate tax and are net of management fees. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Risk Measures
Risk Measures
| Statistics | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Beta | 1.15 | 1.06 | 1.09 |
| Historical Tracking Error | 5.22 | 5.77 | 5.30 |
| Information Ratio | -0.08 | 0.10 | -0.46 |
| Standard Deviation (%) | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) | 12.48 | 13.65 | 12.77 |
| Custom 60% MSCI ACWI-NR + 40% JP Morgan Global Government Bond Index | 9.96 | 11.69 | 10.66 |
| Sharpe Ratio (%) | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| A (acc) USD - Without Sales Charge (NAV) | 0.87 | 0.37 | 0.27 |
The fund’s returns may increase or decrease as a result of changes to foreign exchange rates.
The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Performance details provided are in share class currency, include the reinvested dividends gross of basic rate tax and are net of management fees. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Portfolio
Assets
Positions
| Fund | Benchmark | |
|---|---|---|
| Number of Holdings | 128 | 2,509 |
Portfolio Statistics
| Fund | Benchmark | |
|---|---|---|
| Yield to Maturity | 8.32% | — |
| Average Weighted Maturity | 8.33 Yrs | — |
| Average Credit Quality | BBB | — |
| Portfolio Yield | 5.12% | — |
| Price to Cash Flow | 8.23x | 14.39x |
| Price to Earnings (12-Month Trailing) | 17.12x | 23.27x |
| Price to Book | 1.68x | 3.57x |
| Effective Duration | 5.70 Yrs | — |
Portfolio Allocations
- Assets
- Geography
- Sector
- Currency
- Market Capitalization
Assets
Asset Allocation
Chart
| Fund | ||
|---|---|---|
| Equity | 68.42% | |
| Fixed Income | 27.30% | |
| Cash & Cash Equivalents | 4.27% |
Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions.
Geography
Geographic Allocation
Chart
| Fund | Benchmark | ||
|---|---|---|---|
| 31.74% | 14.50% | ||
| 24.79% | 67.60% | ||
| 20.12% | 14.32% | ||
| 12.48% | 0.78% | ||
| 3.86% | 1.28% | ||
| 2.45% | 1.52% | ||
| 0.29% | — | ||
| 4.27% | — |
Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions.
Sector
Sector Allocation
Chart
| Fund | Benchmark | ||
|---|---|---|---|
| Banks | 22.61% | 7.90% | |
| Technology Hardware & Equipment | 12.56% | 6.95% | |
| Health Care Equipment & Services | 10.77% | 2.93% | |
| Capital Goods | 9.26% | 7.97% | |
| Energy | 8.55% | 3.47% | |
| Semiconductors & Semiconductor Equipment | 8.32% | 11.06% | |
| Materials | 4.78% | 3.58% | |
| Telecommunication Services | 4.04% | 1.52% | |
| Food, Beverage & Tobacco | 3.64% | 2.58% | |
| Transportation | 3.44% | 1.46% | |
| Media & Entertainment | 2.63% | 7.32% | |
| Pharmaceuticals, Biotechnology & Life Sciences | 2.39% | 5.58% | |
| Consumer Durables & Apparel | 1.96% | 1.22% | |
| Financial Services | 1.95% | 6.43% | |
| Consumer Staples Distribution & Retail | 1.67% | 1.61% | |
| Equity Real Estate Investment Trusts (REITs) | 1.42% | 1.37% |
Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions.
Currency
Currency Exposure
Chart
| Fund | ||
|---|---|---|
| 44.31% | ||
| 37.53% | ||
| 10.56% | ||
| 9.28% | ||
| -1.68% |
Market Capitalization
Market Capitalisation Allocation
Chart
| Fund | ||
|---|---|---|
| 2.0-5.0 Billion | 2.76% | |
| 5.0-10.0 Billion | 2.37% | |
| 10.0-25.0 Billion | 11.54% | |
| 25.0-50.0 Billion | 12.64% | |
| >50.0 Billion | 70.70% |
Any negative cash position reflects a temporary position that is a result of a delay in securities settlement transactions.
Portfolio Holdings
- Holdings
- Top Ten Holdings
Holdings
Holdings
These securities do not represent all of the securities purchased, sold or recommended for clients, and the reader should not assume that investment in the securities listed was or will be profitable.
Top Ten Holdings
Top Equity Issuers
Chart
| Fund | ||
|---|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 3.81% | |
| KEYCORP | 2.73% | |
| BP PLC | 2.70% | |
| IMPERIAL BRANDS PLC | 2.49% | |
| SAMSUNG ELECTRONICS CO LTD | 2.27% | |
| MITSUBISHI ELECTRIC CORP | 2.08% | |
| ING GROEP NV | 2.08% | |
| HSBC HOLDINGS PLC | 1.90% | |
| LLOYDS BANKING GROUP PLC | 1.90% | |
| TOKYO ELECTRON LTD | 1.89% |
These securities do not represent all of the securities purchased, sold or recommended for clients, and the reader should not assume that investment in the securities listed was or will be profitable.
Pricing
Pricing History Chart
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
November 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
November 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Chart
Past performance does not predict future returns. The value of shares in the Fund and income received from it can go down as well as up, and investors may not get back the full amount invested. Historical pricing details provided are in share class currency, calculated NAV, taking into account of reinvestments and capital gain or loss. Sales charges and other commissions, other taxes and relevant costs to be paid by an investor are not included in the calculations.
Highest / Lowest NAV
| Year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Highest NAV | $44.06 As on 28/10/2025 | $39.11 As on 26/09/2024 | $36.20 As on 28/12/2023 | $36.48 As on 16/02/2022 | $36.90 As on 04/06/2021 | $33.65 As on 31/12/2020 | $31.68 As on 27/12/2019 | $32.99 As on 26/01/2018 | $31.12 As on 21/12/2017 | $27.28 As on 13/12/2016 |
| Lowest NAV | $35.26 As on 08/04/2025 | $34.43 As on 17/01/2024 | $31.44 As on 27/10/2023 | $28.01 As on 30/09/2022 | $33.61 As on 29/01/2021 | $23.30 As on 23/03/2020 | $27.72 As on 03/01/2019 | $27.21 As on 24/12/2018 | $27.05 As on 03/01/2017 | $23.14 As on 11/02/2016 |
Historical Data - Daily Fund Prices
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
November 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
November 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Historical Pricing Results From 30/09/2025 To 31/10/2025
| Date | NAV | NAV Change | NAV Change (%) |
|---|---|---|---|
| 31/10/2025 | $43.91 | $0.09 | 0.21% |
| 30/10/2025 | $43.82 | $-0.11 | -0.25% |
| 29/10/2025 | $43.93 | $-0.13 | -0.30% |
| 28/10/2025 | $44.06 | $0.00 | 0.00% |
| 27/10/2025 | $44.06 | $0.25 | 0.57% |
| 24/10/2025 | $43.81 | $0.24 | 0.55% |
| 23/10/2025 | $43.57 | $0.14 | 0.32% |
| 22/10/2025 | $43.43 | $0.02 | 0.05% |
| 21/10/2025 | $43.41 | $-0.20 | -0.46% |
| 20/10/2025 | $43.61 | $0.15 | 0.35% |
| 17/10/2025 | $43.46 | $0.06 | 0.14% |
| 16/10/2025 | $43.40 | $-0.02 | -0.05% |
| 15/10/2025 | $43.42 | $0.21 | 0.49% |
| 14/10/2025 | $43.21 | $0.08 | 0.19% |
| 13/10/2025 | $43.13 | $0.46 | 1.08% |
| 10/10/2025 | $42.67 | $-0.82 | -1.89% |
| 09/10/2025 | $43.49 | $-0.24 | -0.55% |
| 08/10/2025 | $43.73 | $0.18 | 0.41% |
| 07/10/2025 | $43.55 | $-0.25 | -0.57% |
| 06/10/2025 | $43.80 | $0.11 | 0.25% |
| 03/10/2025 | $43.69 | $0.19 | 0.44% |
| 02/10/2025 | $43.50 | $0.04 | 0.09% |
| 01/10/2025 | $43.46 | $0.19 | 0.44% |
| 30/09/2025 | $43.27 | $0.17 | 0.39% |
Documents
- Product Literature
- Regulatory Documents
Product Literature
Fact Sheet - Templeton Global Value and Income Fund (A (acc) USD)
Regulatory Documents
Key Information Document - Templeton Global Value and Income Fund A (acc) USD
Prospectus - Franklin Templeton Investment Funds (FTIF)
투자설명서 - Franklin Templeton Investment Funds (FTIF)
Annual Report (Abridged) - Franklin Templeton Investment Funds (FTIF)
Annual Report (full) - Franklin Templeton Investment Funds (FTIF)
Semi Annual Report (full) - Franklin Templeton Investment Funds (FTIF)
Semi-Annual Report (abridged) - Franklin Templeton Investment Funds (FTIF)
Articles of Incorporation - Franklin Templeton Investment Funds (FTIF)
Important Information
This fund meets the requirements under Article 6 of the EU Sustainable Finance Disclosure Regulation (SFDR); the fund does not promote environmental and/or social characteristics or have a sustainable investment objective under EU regulations.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Footnotes
The above listed Funds prices are unconfirmed unless stated otherwise and for information only, as they have not yet been verified by the Administrative Agent of the relevant Funds. Neither the Fund itself nor Franklin Templeton accepts responsibility for any reliance placed on the prices indicated and the information included in this data file. Purchase, exchange and redemptions of Shares can only be made on the basis of confirmed prices. Confirmed prices may be obtained after 12pm noon from Franklin Templeton.
Morningstar ratings are applied at share class level, which means that each share class requires 36 monthly returns before it will be awarded a rating.
Copyright - © 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
The charges are the fees the fund charges to investors to cover the costs of running the Fund. Additional costs, including transaction fees, will also be incurred. These costs are paid out by the Fund, which will impact on the overall return of the Fund.
Fund charges will be incurred in multiple currencies, meaning that payments may increase or decrease as a result of currency exchange fluctuations.
All charges will be paid out by the Fund, which will impact on the overall return of the Fund.The average credit quality (ACQ) rating may change over time. The portfolio itself has not been rated by an independent rating agency. The letter rating, which may be based on bond ratings from different agencies, is provided to indicate the average credit rating of the portfolio’s underlying bonds and generally ranges from AAA (highest) to D (lowest). For unrated bonds ratings may be assigned based on the ratings of the issuer or other relevant factors. The ACQ is determined by assigning a sequential integer to all credit ratings AAA to D, taking a simple, asset-weighted average of debt holdings by market value and rounding to the nearest rating. The risk of default increases as a bond’s rating decreases, so the ACQ provided is not a statistical measurement of the portfolio’s default risk because a simple, weighted average does not measure the increasing level of risk from lower rated bonds. The ACQ is provided for informational purposes only. Derivative positions are not reflected in the ACQ.
Price to Earnings (12-mo Trailing) measures the current price to earnings ratio (P/E) relative to the trailing 12 months of reported earnings.