FLHY

FLHY has broad leeway in fulfilling its mandate for high income. The fund may hold any kind of high-yield corporate debt, from issuers in any geography (including emerging markets), denominated in any currency. The fund may also use OTC derivatives to gain exposure to high-yield debt, increase liquidity, hedge currency exposure, or for other hedging purposes. The fund's active manager uses a bottom-up research process, including independent credit analysis, to identify attractive investment opportunities. Prior to Aug. 1, 2022, the fund traded under the name Franklin Liberty High Yield Corporate ETF.