Franklin High Yield 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 03/18/1986
Fund without Sales Charge (%) (NAV) 8.34 4.54 3.63 5.03 6.03
Fund with Sales Charge (%) (POP) 4.30 3.21 2.85 4.63 5.91
Bloomberg Barclays Municipal Bond Index (%) 8.49 5.03 3.57 4.34 5.93
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 8.01 2.70 3.83 4.80 6.06
Fund with Sales Charge (%) (POP) 3.93 1.40 3.04 4.41 5.94
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 5.95

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 8.34 4.54 3.64 5.03
Fund without Sales Charge (%) (NAV) After Shares Sold 6.83 4.52 3.80 4.98
Fund with Sales Charge (%) (POP) Before Shares Sold 4.31 3.21 2.85 4.63
Fund with Sales Charge (%) (POP) After Shares Sold 4.37 3.47 3.17 4.64
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.01 2.70 3.83 4.80
Fund without Sales Charge (%) (NAV) After Shares Sold 6.66 3.07 3.96 4.78
Fund with Sales Charge (%) (POP) Before Shares Sold 3.93 1.40 3.04 4.41
Fund with Sales Charge (%) (POP) After Shares Sold 4.17 2.06 3.32 4.45

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 1.94 3.78 1.15 3.18 13.87 -6.73 11.08 12.36 2.81 27.75
Fund with Sales Charge (%) (POP) -2.40 -0.61 -3.18 -1.19 9.07 -10.73 6.32 7.57 -1.57 22.38
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 03/18/1986
Fund without Sales Charge (%) (NAV) -0.51 7.39 8.34 14.25 19.54 63.31 619.70
Fund with Sales Charge (%) (POP) -4.21 3.41 4.30 9.93 15.08 57.22 592.68
Bloomberg Barclays Municipal Bond Index (%) -0.38 7.21 8.49 15.84 19.17 53.00 597.23
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 1.79 7.35 8.01 8.31 20.68 59.87 619.40
Fund with Sales Charge (%) (POP) -2.06 3.37 3.93 4.26 16.17 53.94 592.39
Bloomberg Barclays Municipal Bond Index (%) 1.58 6.75 8.55 9.88 19.68 50.38 594.25

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.29 3.21 4.43
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.48 3.03 3.42
Sharpe Ratio 1.29 0.82 1.02
Information Ratio -0.48 0.07 0.43
Tracking Error 0.98 1.01 1.59

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 1.29
Standard Deviation 2.29

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index