FLBL

Franklin Senior Loan ETF

Franklin Templeton · $852.9m in assets, October 8, 2026

Owns senior floating-rate loans made to companies, often called leveraged or bank loans, whose interest payments rise and fall with short-term rates.

FLBL, the Franklin Senior Loan ETF, is a $853 million ETF whose main story is the credit signal. Over the past year it returned +2.8%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.

FLBL · the ETFFRI OCT 2Market price total return
+4.6% a yearTotal return since launch, June 2018
+2.8%Last 12 months
+2.8%Year to date
5.6%Volatility since launch

The narrative it carries

Its main narrative, at 0.8 of its exposure.

The credit signal →

Corporate bonds, loans and the banks that make them: the price of lending to companies.

The credit signal · the narrative this week
34.7QUIET level, 22 of 22
last four weeks
431ETFs carry it
26.5%held by the top five
XLFlargest holder, 6.2%
$685 bncapital, 4th of 22

The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.

Who owns the capital
XLF 6.2%BND 5.9%VCIT 5.7%AGG 4.9%VCSH 3.8%426 other ETFs 73.5%26.5%top five
#ETFSHAREASSETS1 YEARCOST
1XLF6.2%$50.97bn+1.8%0.08%
2BND5.9%$161.78bn−2.1%0.03%
3VCIT5.7%$67.63bn−2.7%0.03%
4AGG4.9%$135.65bn−2.2%0.03%
5VCSH3.8%$44.97bn+0.9%0.03%
426 other ETFs73.5%
FLBL: 0.1%

Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 431 ETFs on the narrative page →

Also carries: The rate regime →

Bonds, cash and Treasuries: the interest rates every other asset is priced against.

Exposure 0.2 · level 57.8 HOT, 3rd of 22 · FLBL holds 0.0% of its capital

FRI OCT 2MARKET PRICE TOTAL RETURN

1M3MYTD1Y3Y*5Y*
FLBL−0.4%+1.5%+2.8%+2.8%+6.2%+5.3%
The credit signalits narrative−2.2%−2.4%−0.5%+0.6%+8.2%+2.7%
The marketbroad US ETFs+0.8%+2.6%+14.6%+16.8%+22.9%+12.9%

1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on June 1, 2018: +4.6% a year.

$10,000 invested June 30, 2018

FLBL $14,513The credit signal $14,490The market $31,372
$0$10,000$20,000$30,000$40,000Jun 2018Jun 2020Jun 2022Jun 2024Jun 2026$0$10,000$20,000$30,000$40,000Jun 2018Jun 2022Jun 2026

Year by year

FLBLThe credit signalThe market
-20%0%20%40%FLBL 2019: +7.7%Narrative 2019: +14.0%The market 2019: +31.3%2019FLBL 2020: +2.2%Narrative 2020: +8.1%The market 2020: +21.4%2020FLBL 2021: +4.3%Narrative 2021: +4.1%The market 2021: +27.1%2021FLBL 2022: -2.7%Narrative 2022: -10.6%The market 2022: -19.8%2022FLBL 2023: +14.8%Narrative 2023: +8.8%The market 2023: +27.9%2023FLBL 2024: +8.3%Narrative 2024: +7.2%The market 2024: +23.1%2024FLBL 2025: +3.6%Narrative 2025: +10.0%The market 2025: +16.8%2025FLBL YTD: +2.8%Narrative YTD: -0.5%The market YTD: +14.6%YTD-20%0%20%40%FLBL 2019: +7.7%Narrative 2019: +14.0%The market 2019: +31.3%2019FLBL 2020: +2.2%Narrative 2020: +8.1%The market 2020: +21.4%2020FLBL 2021: +4.3%Narrative 2021: +4.1%The market 2021: +27.1%2021FLBL 2022: -2.7%Narrative 2022: -10.6%The market 2022: -19.8%2022FLBL 2023: +14.8%Narrative 2023: +8.8%The market 2023: +27.9%2023FLBL 2024: +8.3%Narrative 2024: +7.2%The market 2024: +23.1%2024FLBL 2025: +3.6%Narrative 2025: +10.0%The market 2025: +16.8%2025FLBL YTD: +2.8%Narrative YTD: -0.5%The market YTD: +14.6%YTD

Total return in each calendar year; this year is year to date. A year appears only if FLBL traded for all of it.

Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.

Common questions

What story is FLBL selling?

FLBL’s main story is the credit signal, which covers corporate bonds, loans and the banks that make them: the price of lending to companies. Its second is the rate regime.

Which ETFs compete with FLBL?

The ETFs whose weekly returns move most like FLBL’s over the past 3 years are FTSL (0.82), LONZ (0.80) and SRLN (0.78).

How has FLBL performed against its story?

Over the past year FLBL returned +2.8%, the ETFs carrying the credit signal +0.6% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.34 with the story. Past performance only.

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Narrative figures are from the weekly board. Performance is market price total return as of October 2, 2026. Assets are StoryVector’s weekly figure. Classification and measurement. Not investment advice. How the measurement works →