Franklin Arizona 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 11/30/2019

Month EndAs of 11/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.87 3.98 3.05 4.04 5.40
Fund with Sales Charge (%) (POP) 3.79 2.66 2.27 3.64 5.28
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.92
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 7.97 2.64 3.25 3.83 5.43
Fund with Sales Charge (%) (POP) 3.89 1.33 2.46 3.43 5.30
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.94

After-Tax Average Annual Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.87 3.98 3.05 4.04
Fund without Sales Charge (%) (NAV) After Shares Sold 5.97 3.83 3.13 4.01
Fund with Sales Charge (%) (POP) Before Shares Sold 3.79 2.66 2.27 3.64
Fund with Sales Charge (%) (POP) After Shares Sold 3.51 2.80 2.51 3.67
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.96 2.64 3.25 3.83
Fund without Sales Charge (%) (NAV) After Shares Sold 6.06 2.79 3.29 3.84
Fund with Sales Charge (%) (POP) Before Shares Sold 3.89 1.33 2.46 3.43
Fund with Sales Charge (%) (POP) After Shares Sold 3.60 1.77 2.67 3.51

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.72 4.06 1.00 1.86 11.08 -4.98 8.83 10.81 0.82 15.55
Fund with Sales Charge (%) (POP) -3.57 -0.40 -3.30 -2.49 6.32 -9.02 4.19 6.10 -3.49 10.67
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 11/30/2019

Month EndAs of 11/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) -0.58 6.75 7.87 12.43 16.18 48.54 446.02
Fund with Sales Charge (%) (POP) -4.30 2.75 3.79 8.19 11.86 42.94 425.70
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 538.58
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 1.75 6.56 7.97 8.12 17.32 45.61 445.04
Fund with Sales Charge (%) (POP) -2.05 2.56 3.89 4.03 12.93 40.13 424.75
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 535.85

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.21 2.72 3.82
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 1.08 0.75 0.92
Information Ratio -1.52 -0.61 -0.28
Tracking Error 0.68 0.86 1.10

ADDITIONAL RISK STATISTICSAs of 11/30/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.87 0.92 1.12
Beta Bear 0.94 0.77 1.08
Bull Bear Capture Ratio 0.93 0.97 0.91
% of Positive Months 72.22 70.00 68.33
Gains/Losses 3.54 2.35 2.29
Maximum Drawdown
1.39 3.99 8.45

SALES CHARGE, EXPENSES & FEES As of 07/01/2019 (updated annually)

Gross Expense Ratio 0.66%
Net Expense Ratio [further-information] 0.66%
Max Initial Sales Charge 3.75%
CDSC 0.75%

Volatility Measures [further-information] As of 11/30/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.08
Standard Deviation 2.21

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index