Franklin California High Yield Municipal Fund

Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1996
Fund without Sales Charge (%) (NAV) -1.75 2.15 2.61 4.85 4.78
Fund with Sales Charge (%) (POP) -2.70 2.15 2.61 4.85 4.78
Bloomberg Barclays Municipal Bond Index (%) 2.16 3.27 3.04 3.89 4.92
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/01/1996
Fund without Sales Charge (%) (NAV) 1.56 3.38 2.97 5.34 4.91
Fund with Sales Charge (%) (POP) 0.58 3.38 2.97 5.34 4.91
Bloomberg Barclays Municipal Bond Index (%) 3.85 3.96 3.19 4.14 5.00

After-Tax Average Annual Total Returns [further-information] As of 04/30/2020

Month EndAs of 04/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -1.75 2.15 2.61 4.85
Fund without Sales Charge (%) (NAV) After Shares Sold 0.10 2.39 2.75 4.66
Fund with Sales Charge (%) (POP) Before Shares Sold -2.71 2.15 2.61 4.85
Fund with Sales Charge (%) (POP) After Shares Sold -0.46 2.39 2.75 4.66
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.57 3.38 2.97 5.34
Fund without Sales Charge (%) (NAV) After Shares Sold 2.09 3.32 3.01 5.06
Fund with Sales Charge (%) (POP) Before Shares Sold 0.58 3.38 2.97 5.34
Fund with Sales Charge (%) (POP) After Shares Sold 1.51 3.32 3.01 5.06

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 04/30/2020

Month EndAs of 04/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1996
Fund without Sales Charge (%) (NAV) -7.98 -6.07 -1.75 6.60 13.73 60.57 206.37
Fund with Sales Charge (%) (POP) -8.89 -7.00 -2.70 6.60 13.73 60.57 206.37
Bloomberg Barclays Municipal Bond Index (%) -3.61 -1.88 2.16 10.14 16.14 46.44 216.90
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/01/1996
Fund without Sales Charge (%) (NAV) -3.62 -3.62 1.56 10.49 15.74 68.27 214.35
Fund with Sales Charge (%) (POP) -4.58 -4.58 0.58 10.49 15.74 68.27 214.35
Bloomberg Barclays Municipal Bond Index (%) -0.63 -0.63 3.85 12.35 17.00 50.11 220.92

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.71 5.38 5.51
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.59 3.53 3.70
Sharpe Ratio 0.08 0.28 0.78
Information Ratio -0.44 -0.19 0.44
Tracking Error 2.52 2.23 2.22

ADDITIONAL RISK STATISTICSAs of 04/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 1.25 1.26 1.31
Beta Bear 2.15 1.74 1.70
Bull Bear Capture Ratio 0.75 0.82 0.97
% of Positive Months 66.67 70.00 70.83
Gains/Losses 1.43 1.56 2.02
Maximum Drawdown
9.72 9.72 9.72

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 04/30/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.08
Standard Deviation 5.71

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index