Franklin Federal Limited-Term Tax-Free Income Fund

Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/02/2003
Fund without Sales Charge (%) (NAV) 3.03 2.16 1.61 1.71 2.18
Fund with Sales Charge (%) (POP) 3.03 2.16 1.61 1.71 2.18
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 3.21 2.19 1.93 1.81 2.53
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/02/2003
Fund without Sales Charge (%) (NAV) 2.22 1.71 1.25 1.65 2.10
Fund with Sales Charge (%) (POP) 2.22 1.71 1.25 1.65 2.10
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 1.88 1.79 1.49 1.70 2.44

After-Tax Average Annual Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.03 2.16 1.61 1.71
Fund without Sales Charge (%) (NAV) After Shares Sold 2.48 2.00 1.54 1.66
Fund with Sales Charge (%) (POP) Before Shares Sold 3.03 2.16 1.61 1.71
Fund with Sales Charge (%) (POP) After Shares Sold 2.48 2.00 1.54 1.66
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.22 1.71 1.25 1.65
Fund without Sales Charge (%) (NAV) After Shares Sold 2.07 1.66 1.26 1.62
Fund with Sales Charge (%) (POP) Before Shares Sold 2.22 1.71 1.25 1.65
Fund with Sales Charge (%) (POP) After Shares Sold 2.07 1.66 1.26 1.62

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 3.74 1.57 0.45
Fund with Sales Charge (%) (POP) 3.74 1.57 0.45
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 3.66 1.77 1.61

Cumulative Total Returns [further-information] As of 05/31/2020

Month EndAs of 05/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/02/2003
Fund without Sales Charge (%) (NAV) 0.30 1.61 3.03 6.61 8.33 18.50 43.59
Fund with Sales Charge (%) (POP) 0.30 1.61 3.03 6.61 8.33 18.50 43.59
Bloomberg Barclays Municipal Short 1-5 Years Index (%) 0.53 1.57 3.21 6.70 10.05 19.66 52.02
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/02/2003
Fund without Sales Charge (%) (NAV) -0.05 -0.05 2.22 5.23 6.43 17.79 41.24
Fund with Sales Charge (%) (POP) -0.05 -0.05 2.22 5.23 6.43 17.79 41.24
Bloomberg Barclays Municipal Short 1-5 Years Index (%) -0.41 -0.41 1.88 5.48 7.68 18.35 49.06

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.61 1.34 1.27
Standard Deviation (Bloomberg Barclays Municipal Short 1-5 Years Index) 1.77 1.64 1.37
Alpha -0.02 -0.16 0.01
Beta 0.87 0.75 0.85
Sharpe Ratio 0.37 0.34 0.83
Information Ratio -0.23 -0.58 -0.33
Tracking Error 0.48 0.62 0.53
R-Squared 0.93 0.87 0.85

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.86 0.79 0.93
Beta Bear 0.88 0.72 0.73
Bull Bear Capture Ratio 1.08 1.07 1.04
Gains/Losses 3.02 2.66 2.81

SALES CHARGE, EXPENSES & FEES As of 07/01/2020 (updated annually)

Gross Expense Ratio 0.54%
Net Expense Ratio [further-information] 0.37%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.87
Sharpe Ratio 0.37
Standard Deviation 1.61

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