Franklin Michigan 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 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) 7.27 3.77 2.67 3.45 5.60
Fund with Sales Charge (%) (POP) 3.22 2.45 1.89 3.05 5.48
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) 7.27 3.77 2.67 3.45 5.60
Fund with Sales Charge (%) (POP) 3.22 2.45 1.89 3.05 5.48
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

No chart available for this data.
Month EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold
No chart available for this data.
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold
Fund without Sales Charge (%) (NAV) After Shares Sold
Fund with Sales Charge (%) (POP) Before Shares Sold
Fund with Sales Charge (%) (POP) After Shares Sold

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.27 0.84 3.31 1.26 0.80 10.95 -5.15 6.10 9.87 0.32
Fund with Sales Charge (%) (POP) 3.22 -3.45 -1.08 -3.04 -3.52 6.24 -9.19 1.56 5.18 -3.95
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) 0.41 7.27 7.27 11.76 14.07 40.38 563.47
Fund with Sales Charge (%) (POP) -3.38 3.22 3.22 7.54 9.79 35.07 538.56
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) 0.41 7.27 7.27 11.76 14.07 40.38 563.47
Fund with Sales Charge (%) (POP) -3.38 3.22 3.22 7.54 9.79 35.07 538.56
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) 2.28 2.63 3.35
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 0.94 0.62 0.87
Information Ratio -1.39 -0.76 -0.75
Tracking Error 0.68 1.13 1.17

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

3 YR 5 YR 10 YR
Beta Bull 0.96 0.86 0.92
Beta Bear 0.89 0.68 0.92
Bull Bear Capture Ratio 0.92 0.92 0.89
% of Positive Months 72.22 70.00 69.17
Gains/Losses 3.26 2.12 2.20
Maximum Drawdown
1.50 3.74 7.73

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

Gross Expense Ratio 0.68%
Net Expense Ratio [further-information] 0.68%
Max Initial Sales Charge 3.75%
CDSC 0.75%

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

Sharpe Ratio 0.94
Standard Deviation 2.28

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index