Franklin Massachusetts Tax-Free Income Fund

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

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 7.00 3.84 3.09 3.85 5.56
Fund with Sales Charge (%) (POP) 7.00 3.84 3.09 3.85 5.56
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 7.00 3.84 3.09 3.85 5.56
Fund with Sales Charge (%) (POP) 7.00 3.84 3.09 3.85 5.56
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48

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

Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.00 3.84 3.09 3.85
Fund without Sales Charge (%) (NAV) After Shares Sold 5.45 3.68 3.12 3.80
Fund with Sales Charge (%) (POP) Before Shares Sold 7.00 3.84 3.09 3.85
Fund with Sales Charge (%) (POP) After Shares Sold 5.45 3.68 3.12 3.80
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.00 3.84 3.09 3.85
Fund without Sales Charge (%) (NAV) After Shares Sold 5.45 3.68 3.12 3.80
Fund with Sales Charge (%) (POP) Before Shares Sold 7.00 3.84 3.09 3.85
Fund with Sales Charge (%) (POP) After Shares Sold 5.45 3.68 3.12 3.80

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.00 -0.09 4.73 1.13 2.85 11.47 -5.29 7.30 11.26 -0.55
Fund with Sales Charge (%) (POP) 7.00 -0.09 4.73 1.13 2.85 11.47 -5.29 7.30 11.26 -0.55
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 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.28 7.00 7.00 11.96 16.45 45.96 554.67
Fund with Sales Charge (%) (POP) 0.28 7.00 7.00 11.96 16.45 45.96 554.67
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 785.26
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 0.28 7.00 7.00 11.96 16.45 45.96 554.67
Fund with Sales Charge (%) (POP) 0.28 7.00 7.00 11.96 16.45 45.96 554.67
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 785.26

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.53 2.83 3.99
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 0.88 0.73 0.83
Information Ratio -1.42 -0.56 -0.41
Tracking Error 0.62 0.77 1.17

ADDITIONAL RISK STATISTICSAs of 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.07 1.02 1.16
Beta Bear 1.12 0.72 1.07
Bull Bear Capture Ratio 0.83 0.95 0.85
% of Positive Months 66.67 68.33 68.33
Gains/Losses 2.98 2.27 2.12
Maximum Drawdown
2.36 3.89 9.89

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

Gross Expense Ratio 0.61%
Net Expense Ratio [further-information] 0.61%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.88
Standard Deviation 2.53

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index