Franklin Federal Limited-Term 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 09/02/2003
Fund without Sales Charge (%) (NAV) 3.55 1.77 1.15 1.58 2.06
Fund with Sales Charge (%) (POP) 1.19 0.99 0.69 1.35 1.92
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 3.66 2.34 1.66 1.78 2.50
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/02/2003
Fund without Sales Charge (%) (NAV) 3.55 1.77 1.15 1.58 2.06
Fund with Sales Charge (%) (POP) 1.19 0.99 0.69 1.35 1.92
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 3.66 2.34 1.66 1.78 2.50

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 3.55 1.77 1.15 1.58
Fund without Sales Charge (%) (NAV) After Shares Sold 2.79 1.64 1.14 1.54
Fund with Sales Charge (%) (POP) Before Shares Sold 1.19 0.99 0.69 1.35
Fund with Sales Charge (%) (POP) After Shares Sold 1.38 1.04 0.78 1.35
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.55 1.77 1.15 1.58
Fund without Sales Charge (%) (NAV) After Shares Sold 2.79 1.64 1.14 1.54
Fund with Sales Charge (%) (POP) Before Shares Sold 1.19 0.99 0.69 1.35
Fund with Sales Charge (%) (POP) After Shares Sold 1.38 1.04 0.78 1.35

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 3.55 1.39 0.38 0.05 0.42 1.09 0.37 1.96 4.03 2.68
Fund with Sales Charge (%) (POP) 1.19 -0.92 -1.90 -2.20 -1.83 -1.18 -1.86 -0.31 1.66 0.33
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 3.66 1.77 1.61 0.07 1.21 1.31 1.15 1.73 3.45 1.87

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 09/02/2003
Fund without Sales Charge (%) (NAV) 0.38 3.55 3.55 5.39 5.89 17.01 39.48
Fund with Sales Charge (%) (POP) -1.86 1.19 1.19 3.00 3.51 14.34 36.35
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 0.84 3.66 3.66 7.19 8.56 19.26 49.68
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/02/2003
Fund without Sales Charge (%) (NAV) 0.38 3.55 3.55 5.39 5.89 17.01 39.48
Fund with Sales Charge (%) (POP) -1.86 1.19 1.19 3.00 3.51 14.34 36.35
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 0.84 3.66 3.66 7.19 8.56 19.26 49.68

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.04 0.95 1.12
Standard Deviation (Bloomberg Barclays Municipal Short 1-5 Years Index) 1.23 1.29 1.16
Sharpe Ratio 0.13 0.12 0.92
Information Ratio -1.10 -0.85 -0.35
Tracking Error 0.52 0.59 0.55

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

3 YR 5 YR 10 YR
Beta Bull 0.63 0.61 1.05
Beta Bear 0.70 0.53 0.60
Bull Bear Capture Ratio 0.95 0.98 1.02
% of Positive Months 69.44 61.67 65.00
Gains/Losses 3.33 2.44 2.89
Maximum Drawdown
0.90 0.90 1.27

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

Gross Expense Ratio 0.73%
Net Expense Ratio [further-information] 0.55%
Max Initial Sales Charge 2.25%
CDSC 0.75%

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

Sharpe Ratio 0.13
Standard Deviation 1.04

Benchmarks

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

  • Bloomberg Barclays Municipal Short 1-5 Years Index