Franklin California High Yield Municipal Fund

Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 11.18 6.31 4.66 6.74 5.73
Fund with Sales Charge (%) (POP) 7.01 4.96 3.86 6.33 5.58
Bloomberg Barclays Municipal Bond Index (%) 8.65 5.12 3.53 4.47 5.18
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 9.41 5.81 4.73 6.62 5.66
Fund with Sales Charge (%) (POP) 5.31 4.47 3.93 6.21 5.51
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.13

After-Tax Average Annual Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 11.17 6.31 4.66 6.74
Fund without Sales Charge (%) (NAV) After Shares Sold 8.03 5.69 4.42 6.31
Fund with Sales Charge (%) (POP) Before Shares Sold 7.01 4.96 3.86 6.33
Fund with Sales Charge (%) (POP) After Shares Sold 5.51 4.63 3.78 5.95
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.42 5.81 4.73 6.62
Fund without Sales Charge (%) (NAV) After Shares Sold 7.01 5.32 4.50 6.22
Fund with Sales Charge (%) (POP) Before Shares Sold 5.31 4.47 3.93 6.21
Fund with Sales Charge (%) (POP) After Shares Sold 4.52 4.26 3.86 5.87

Calendar Year Returns

2019 2018
Fund without Sales Charge (%) (NAV) 9.41 1.09
Fund with Sales Charge (%) (POP) 5.31 -2.70
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28

Cumulative Total Returns [further-information] As of 01/31/2020

Month EndAs of 01/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 2.45 2.12 11.18 20.15 25.55 91.94 343.95
Fund with Sales Charge (%) (POP) -1.40 -1.71 7.01 15.64 20.84 84.74 327.30
Bloomberg Barclays Municipal Bond Index (%) 2.36 1.80 8.65 16.15 18.96 54.89 286.46
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 0.31 9.41 9.41 18.47 26.00 89.85 334.74
Fund with Sales Charge (%) (POP) -3.45 5.31 5.31 14.02 21.27 82.73 318.44
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 279.63

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 3.07 3.97 4.86
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Alpha 0.70 0.47 0.85
Beta 1.14 1.26 1.35
Sharpe Ratio 1.52 0.91 1.27
Information Ratio 1.14 0.83 1.24
Tracking Error 1.06 1.35 1.83
R-Squared 0.89 0.92 0.92

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

3 YR 5 YR 10 YR
Beta Bull 1.20 1.22 1.30
Beta Bear 1.08 1.38 1.52
Bull Bear Capture Ratio 1.17 1.08 1.15
% of Positive Months 72.22 71.67 74.17
Gains/Losses 4.30 2.52 2.80
Maximum Drawdown
1.88 7.03 9.04

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Gross Expense Ratio 0.83%
Net Expense Ratio [further-information] 0.83%
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

Beta 1.14
Sharpe Ratio 1.52
Standard Deviation 3.07

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index