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 01/31/2020

Month EndAs of 01/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 8.95 4.85 3.46 5.03 6.06
Fund with Sales Charge (%) (POP) 4.82 3.51 2.68 4.63 5.94
Bloomberg Barclays Municipal Bond Index (%) 8.65 5.12 3.53 4.47 5.97
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 03/18/1986
Fund without Sales Charge (%) (NAV) 7.64 4.43 3.51 4.94 6.02
Fund with Sales Charge (%) (POP) 3.65 3.09 2.73 4.55 5.90
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.93

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 8.95 4.85 3.46 5.03
Fund without Sales Charge (%) (NAV) After Shares Sold 7.15 4.74 3.64 4.96
Fund with Sales Charge (%) (POP) Before Shares Sold 4.82 3.51 2.68 4.63
Fund with Sales Charge (%) (POP) After Shares Sold 4.63 3.69 3.02 4.62
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.64 4.43 3.51 4.94
Fund without Sales Charge (%) (NAV) After Shares Sold 6.39 4.43 3.70 4.90
Fund with Sales Charge (%) (POP) Before Shares Sold 3.65 3.09 2.73 4.55
Fund with Sales Charge (%) (POP) After Shares Sold 3.96 3.38 3.08 4.57

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.64 1.94 3.78 1.15 3.18 13.87 -6.73 11.08 12.36 2.81
Fund with Sales Charge (%) (POP) 3.65 -1.84 -0.61 -3.18 -1.19 9.07 -10.73 6.32 7.57 -1.57
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 01/31/2020

Month EndAs of 01/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 2.25 1.80 8.95 15.26 18.56 63.38 634.36
Fund with Sales Charge (%) (POP) -1.62 -2.05 4.82 10.91 14.12 57.20 606.80
Bloomberg Barclays Municipal Bond Index (%) 2.36 1.80 8.65 16.15 18.96 54.89 611.92
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 03/18/1986
Fund without Sales Charge (%) (NAV) 0.28 7.64 7.64 13.87 18.84 61.98 621.39
Fund with Sales Charge (%) (POP) -3.49 3.65 3.65 9.57 14.43 55.98 594.31
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 599.36

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.43 3.17 4.44
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.56 3.03 3.45
Sharpe Ratio 1.32 0.76 1.01
Information Ratio -0.28 -0.06 0.36
Tracking Error 0.92 1.00 1.58

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 01/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.32
Standard Deviation 2.43

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index