Franklin California High Yield Municipal Fund

Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 1.95 4.03 4.48 5.92 5.54
Fund with Sales Charge (%) (POP) -1.87 2.71 3.69 5.52 5.39
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.11
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 1.95 4.03 4.48 5.92 5.54
Fund with Sales Charge (%) (POP) -1.87 2.71 3.69 5.52 5.39
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.11

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.95 4.03 4.48 5.92
Fund without Sales Charge (%) (NAV) After Shares Sold 2.44 3.91 4.31 5.63
Fund with Sales Charge (%) (POP) Before Shares Sold -1.87 2.71 3.69 5.52
Fund with Sales Charge (%) (POP) After Shares Sold 0.13 2.88 3.67 5.28
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.95 4.03 4.48 5.92
Fund without Sales Charge (%) (NAV) After Shares Sold 2.44 3.91 4.31 5.63
Fund with Sales Charge (%) (POP) Before Shares Sold -1.87 2.71 3.69 5.52
Fund with Sales Charge (%) (POP) After Shares Sold 0.13 2.88 3.67 5.28

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 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 3.07 -0.59 1.95 12.58 24.51 77.77 332.15
Fund with Sales Charge (%) (POP) -0.80 -4.32 -1.87 8.35 19.84 71.11 315.95
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 287.52
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 3.07 -0.59 1.95 12.58 24.51 77.77 332.15
Fund with Sales Charge (%) (POP) -0.80 -4.32 -1.87 8.35 19.84 71.11 315.95
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 287.52

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 6.03 5.63 5.62
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -1.30 -0.61 0.20
Beta 1.48 1.44 1.42
Sharpe Ratio 0.40 0.60 0.95
Information Ratio -0.07 0.24 0.76
Tracking Error 2.64 2.30 2.25
R-Squared 0.90 0.92 0.92

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.19 1.19 1.25
Beta Bear 2.18 1.83 1.72
Bull Bear Capture Ratio 0.82 0.92 1.04
% of Positive Months 69.44 75.00 72.50
Gains/Losses 1.82 2.01 2.27
Maximum Drawdown
9.64 9.64 9.64

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 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 1.48
Sharpe Ratio 0.40
Standard Deviation 6.03

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index