Franklin California High Yield Municipal Fund

Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 2.34 4.21 4.65 6.07 5.62
Fund with Sales Charge (%) (POP) 2.34 4.21 4.65 6.07 5.62
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.11
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 05/03/1993
Fund without Sales Charge (%) (NAV) 2.34 4.21 4.65 6.07 5.62
Fund with Sales Charge (%) (POP) 2.34 4.21 4.65 6.07 5.62
Bloomberg Barclays Municipal Bond Index (%) 4.45 4.22 3.93 4.21 5.11

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.34 4.21 4.65 6.07
Fund without Sales Charge (%) (NAV) After Shares Sold 2.79 4.10 4.48 5.78
Fund with Sales Charge (%) (POP) Before Shares Sold 2.34 4.21 4.65 6.07
Fund with Sales Charge (%) (POP) After Shares Sold 2.79 4.10 4.48 5.78
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.34 4.21 4.65 6.07
Fund without Sales Charge (%) (NAV) After Shares Sold 2.79 4.10 4.48 5.78
Fund with Sales Charge (%) (POP) Before Shares Sold 2.34 4.21 4.65 6.07
Fund with Sales Charge (%) (POP) After Shares Sold 2.79 4.10 4.48 5.78

Calendar Year Returns

2019 2018 2017
Fund without Sales Charge (%) (NAV) 9.70 1.16 7.30
Fund with Sales Charge (%) (POP) 9.70 1.16 7.30
Bloomberg Barclays Municipal Bond Index (%) 7.54 1.28 5.45

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 3.14 -0.45 2.34 13.18 25.52 80.30 341.65
Fund with Sales Charge (%) (POP) 3.14 -0.45 2.34 13.18 25.52 80.30 341.65
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 287.52
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 05/03/1993
Fund without Sales Charge (%) (NAV) 3.14 -0.45 2.34 13.18 25.52 80.30 341.65
Fund with Sales Charge (%) (POP) 3.14 -0.45 2.34 13.18 25.52 80.30 341.65
Bloomberg Barclays Municipal Bond Index (%) 2.72 2.08 4.45 13.20 21.26 51.12 287.52

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 6.05 5.64 5.63
Standard Deviation (Bloomberg Barclays Municipal Bond Index) 3.88 3.75 3.81
Alpha -1.17 -0.53 0.24
Beta 1.48 1.44 1.42
Sharpe Ratio 0.42 0.62 0.96
Information Ratio -0.01 0.28 0.78
Tracking Error 2.66 2.31 2.26
R-Squared 0.90 0.92 0.92

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

3 YR 5 YR 10 YR
Beta Bull 1.20 1.20 1.26
Beta Bear 2.18 1.83 1.71
Bull Bear Capture Ratio 0.84 0.93 1.05
% of Positive Months 69.44 75.00 72.50
Gains/Losses 1.85 2.03 2.28
Maximum Drawdown
9.66 9.66 9.66

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

Gross Expense Ratio 0.57%
Net Expense Ratio [further-information] 0.55%
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 1.48
Sharpe Ratio 0.42
Standard Deviation 6.05

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index