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 12/31/2019

Month 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
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 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 7.64 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
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 -2.40 -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 12/31/2019

Month 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
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 12/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 2.29 3.20 4.42
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Sharpe Ratio 1.22 0.78 0.99
Information Ratio -0.31 -0.01 0.39
Tracking Error 0.92 1.01 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 12/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.22
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