Franklin North Carolina Tax-Free Income Fund

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 09/01/1987
Fund without Sales Charge (%) (NAV) 6.01 3.00 2.38 3.25 5.33
Fund with Sales Charge (%) (POP) 6.01 3.00 2.38 3.25 5.33
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/01/1987
Fund without Sales Charge (%) (NAV) 6.01 3.00 2.38 3.25 5.33
Fund with Sales Charge (%) (POP) 6.01 3.00 2.38 3.25 5.33
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 5.91

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 6.01 3.00 2.38 3.25
Fund without Sales Charge (%) (NAV) After Shares Sold 4.81 3.04 2.60 3.36
Fund with Sales Charge (%) (POP) Before Shares Sold 6.01 3.00 2.38 3.25
Fund with Sales Charge (%) (POP) After Shares Sold 4.81 3.04 2.60 3.36
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.01 3.00 2.38 3.25
Fund without Sales Charge (%) (NAV) After Shares Sold 4.81 3.04 2.60 3.36
Fund with Sales Charge (%) (POP) Before Shares Sold 6.01 3.00 2.38 3.25
Fund with Sales Charge (%) (POP) After Shares Sold 4.81 3.04 2.60 3.36

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 6.01 1.39 1.66
Fund with Sales Charge (%) (POP) 6.01 1.39 1.66
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

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 09/01/1987
Fund without Sales Charge (%) (NAV) 0.17 6.01 6.01 9.28 12.48 37.68 436.74
Fund with Sales Charge (%) (POP) 0.17 6.01 6.01 9.28 12.48 37.68 436.74
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53
Quarter EndAs of 12/31/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/01/1987
Fund without Sales Charge (%) (NAV) 0.17 6.01 6.01 9.28 12.48 37.68 436.74
Fund with Sales Charge (%) (POP) 0.17 6.01 6.01 9.28 12.48 37.68 436.74
Bloomberg Barclays Municipal Bond Index (%) 0.74 7.54 7.54 14.85 18.93 52.95 540.53

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.97 2.27 3.51
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 2.44 3.03 3.42
Alpha -0.85 -0.42 -0.97
Beta 0.73 0.69 0.96
Sharpe Ratio 0.69 0.57 0.74
Information Ratio -1.70 -0.97 -0.93
Tracking Error 1.02 1.23 1.26
R-Squared 0.83 0.87 0.87

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

3 YR 5 YR 10 YR
Beta Bull 0.69 0.68 0.99
Beta Bear 0.58 0.63 0.94
Bull Bear Capture Ratio 0.81 0.92 0.82
% of Positive Months 66.67 70.00 70.00
Gains/Losses 2.73 2.14 2.02
Maximum Drawdown
1.56 3.21 9.03

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

Gross Expense Ratio 0.56%
Net Expense Ratio [further-information] 0.54%
Max Initial Sales Charge 0.00%
CDSC

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

Beta 0.73
Sharpe Ratio 0.69
Standard Deviation 1.97

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index