Franklin Federal Tax-Free Income Fund

New investors must invest in new Class A shares. This A1 share class is available only for existing investors as of 9/7/18.

New investors must invest in new Class A shares. This A1 share class is available only for existing investors as of 9/7/18.

Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 01/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 8.30 4.11 2.78 4.31 6.32
Fund with Sales Charge (%) (POP) 4.26 2.79 2.00 3.91 6.21
Bloomberg Barclays Municipal Bond Index (%) 8.65 5.12 3.53 4.47 6.65
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/07/1983
Fund without Sales Charge (%) (NAV) 6.85 3.66 2.81 4.16 6.28
Fund with Sales Charge (%) (POP) 2.87 2.34 2.03 3.76 6.17
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.61

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 01/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.30 4.11 2.78 4.31
Fund without Sales Charge (%) (NAV) After Shares Sold 6.31 3.99 2.96 4.25
Fund with Sales Charge (%) (POP) Before Shares Sold 4.27 2.79 2.00 3.91
Fund with Sales Charge (%) (POP) After Shares Sold 3.87 2.96 2.34 3.91
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.85 3.66 2.81 4.16
Fund without Sales Charge (%) (NAV) After Shares Sold 5.47 3.65 3.00 4.14
Fund with Sales Charge (%) (POP) Before Shares Sold 2.87 2.34 2.03 3.76
Fund with Sales Charge (%) (POP) After Shares Sold 3.06 2.62 2.38 3.80

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 6.85 0.61 3.61 0.70 2.44 11.21 -4.46 9.03 12.12 0.86
Fund with Sales Charge (%) (POP) 2.87 -3.19 -0.77 -3.59 -1.94 6.49 -8.54 4.40 7.40 -3.41
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38

Cumulative Total Returns [further-information] As of 12/31/2019

Month EndAs of 01/31/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 1.84 8.30 12.86 14.71 52.53 825.67
Fund with Sales Charge (%) (POP) -2.00 4.26 8.61 10.38 46.79 791.16
Bloomberg Barclays Municipal Bond Index (%) 1.80 8.65 16.15 18.96 54.89 935.38
Quarter EndAs of 12/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/07/1983
Fund without Sales Charge (%) (NAV) 6.85 6.85 11.37 14.87 50.33 808.98
Fund with Sales Charge (%) (POP) 2.87 2.87 7.18 10.55 44.68 775.09
Bloomberg Barclays Municipal Bond Index (%) 7.54 7.54 14.85 18.93 52.95 917.11

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.33 2.60 3.73
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Alpha -0.55 -0.32 -0.33
Beta 0.88 0.83 1.05
Sharpe Ratio 1.06 0.66 1.01
Information Ratio -1.58 -0.99 -0.16
Tracking Error 0.63 0.75 0.91
R-Squared 0.94 0.95 0.94

ADDITIONAL RISK STATISTICSAs of 01/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.97 0.91 1.13
Beta Bear 0.74 0.73 1.03
Bull Bear Capture Ratio 0.95 0.94 0.96
% of Positive Months 69.44 70.00 71.67
Gains/Losses 3.67 2.29 2.46
Maximum Drawdown
1.29 3.97 8.28

SALES CHARGE, EXPENSES & FEES As of 09/01/2019 (updated annually)

Gross Expense Ratio 0.63%
Net Expense Ratio [further-information] 0.63%
Max Initial Sales Charge 3.75%
CDSC 0.75%

Volatility Measures [further-information] As of 01/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.06
Standard Deviation 2.33

Benchmarks

A benchmark is a comparable broad-based index that can be used to evaluate a fund's performance.

  • Bloomberg Barclays Municipal Bond Index