Franklin California High Yield Municipal Fund

Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1996
Fund without Sales Charge (%) (NAV) 2.90 4.02 4.17 5.41 5.05
Fund with Sales Charge (%) (POP) 1.90 4.02 4.17 5.41 5.05
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1996
Fund without Sales Charge (%) (NAV) 1.55 3.47 3.93 5.34 4.98
Fund with Sales Charge (%) (POP) 0.56 3.47 3.93 5.34 4.98
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.06

After-Tax Average Annual Total Returns [further-information] As of 07/31/2020

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.90 4.02 4.17 5.41
Fund without Sales Charge (%) (NAV) After Shares Sold 2.82 3.78 3.93 5.08
Fund with Sales Charge (%) (POP) Before Shares Sold 1.90 4.02 4.17 5.41
Fund with Sales Charge (%) (POP) After Shares Sold 2.23 3.78 3.93 5.08
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.55 3.47 3.93 5.34
Fund without Sales Charge (%) (NAV) After Shares Sold 2.04 3.37 3.75 5.04
Fund with Sales Charge (%) (POP) Before Shares Sold 0.56 3.47 3.93 5.34
Fund with Sales Charge (%) (POP) After Shares Sold 1.45 3.37 3.75 5.04

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 9.03 0.39 6.47 0.60 4.64 14.07 -4.31 12.92 13.86 4.33
Fund with Sales Charge (%) (POP) 8.03 -0.58 5.47 -0.37 3.64 13.07 -5.23 11.92 12.86 3.34
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 07/31/2020

Month EndAs of 07/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1996
Fund without Sales Charge (%) (NAV) 7.69 1.15 2.90 12.55 22.66 69.42 229.93
Fund with Sales Charge (%) (POP) 6.69 0.16 1.90 12.55 22.66 69.42 229.93
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1996
Fund without Sales Charge (%) (NAV) 2.86 -0.87 1.55 10.78 21.24 68.29 223.34
Fund with Sales Charge (%) (POP) 1.86 -1.85 0.56 10.78 21.24 68.29 223.34
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 229.67

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 6.10 5.65 5.63
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.94 3.80 3.82
Sharpe Ratio 0.40 0.54 0.86
Information Ratio -0.19 0.02 0.52
Tracking Error 2.61 2.28 2.24

ADDITIONAL RISK STATISTICSAs of 07/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.19 1.20 1.27
Beta Bear 2.16 1.81 1.70
Bull Bear Capture Ratio 0.78 0.85 0.97
Gains/Losses 1.79 1.92 2.13

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Gross Expense Ratio 1.23%
Net Expense Ratio [further-information] 1.23%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.40
Standard Deviation 6.10

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index