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Managed Fund Since 2020
Fixed Income
FNYIX Franklin New York Tax-Free Income Fund
- Tax-Free Income. Monthly income exempt from federal income taxes and New York State and New York City personal income taxes.
- Broad access. Invests across all sectors and maturities within the investment grade rated municipal bond universe.
- Portfolio diversification. Can be used as a core portfolio holding, providing diversification from equities.
Popular Documents
NAV
$9.89
As of 06/09/2026
YTD Total Returns At NAV
1.87%
As of 06/09/2026
Total Net Assets
$2.62B
As of 05/31/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The Fund seeks to provide investors with as high a level of income exempt from regular federal, New York State and New York City personal income taxes as is consistent with prudent investment management and the preservation of shareholders' capital.
- Benchmark
- Linked Bloomberg New York Muni Bond/Muni Bond Index
- Fund Inception Date
- 09/13/1982
- Dividend Frequency, if any
- Monthly
- Distribution Rate at NAV
As of 06/09/2026 (Updated Daily) - 3.06%
- 30-Day SEC Yield—With Waiver
As of 05/31/2026 (Updated Monthly) - 3.00%
- 30-Day SEC Yield—Without Waiver
As of 05/31/2026 (Updated Monthly) - 2.99%
- Taxable Equivalent Yield—With Waiver
As of 05/31/2026 (Updated Monthly) - 6.75%
- Taxable Equivalent Yield—Without Waiver
As of 05/31/2026 (Updated Monthly) - 6.19%
Sales Charges, Expenses & Fees
- Gross Expense Ratio
- 1.18%
- Net Expense Ratio
- 1.18%
- Maximum Initial Charge
- —
- CDSC
- 1.00%
- 12b-1 Fee
- 0.65%
Identifiers
- Ticker
- FNYIX
- Fund Number
- 215
- CUSIP Code
- 354130205
Average Annual Total Returns As of 05/31/2026
Class C
- 6.07%1 Year
- 3.09%3 Years
- -0.28%5 Years
- 1.02%10 Years
- 3.24%Since Inception
05/01/1995
Top Sectors
As of 05/31/2026 % of Total (Updated Monthly)
Transportation19.79% | |
Special Tax19.70% | |
Industrial Dev. Revenue and Pollution Control9.89% | |
Education9.88% | |
Health Care9.76% |
Additional Fund Info
- Share Class Inception Date
- 05/01/1995
- Investment Style
- Municipals
- Lipper Classification
- New York Municipal Debt Funds
- Morningstar Category
- Muni New York Long
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.
Commentary Highlights
March 31, 2026- Markets: In the first quarter of 2026, new issuance of municipal (muni) bonds exceeded the average seen in the past few years. The war in the Middle East which began at the end of February continued throughout March, dominating market sentiment during the month. By quarter-end, the yield on the benchmark 10-year US Treasury (UST) note moved 15 basis points (bps) higher to 4.32%, and the yield on the 30-year UST bond increased by seven bps to 4.91%. The March US Federal Reserve (Fed) Federal Open Market Committee meeting left rates unchanged, and the statement and press conference emphasized uncertainty related to the Iran war. The Fed indicated that it would look through any initial oil supply shock effect on inflation to focus on core developments, while also noting a likely dragging effect on the economy; ultimately the Committee retained an easing bias.
- Contributors : Security selection in AA rated bonds, overweight allocation to muni bonds with no external credit rating and overweight allocation to BBB rated bonds.
- Detractors : Overweight allocation to muni bonds with 20 or more years to maturity and security selection in BBB rated bonds.
- Outlook : Municipal bond valuations continue to appear attractive, particularly on a tax-adjusted basis. In a more challenging environment, strong bottom-up research and disciplined security selection will be essential to identifying relative value and preserving portfolio quality.
Franklin Templeton Fixed Income
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Managed Fund Since 2020
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Managed Fund Since 2016
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Managed Fund Since 2026
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Managed Fund Since 2020
Latest Insights
June 8, 2026
April 29, 2026
Performance
Average Annual Total Returns
As of 05/31/2026
Selected Month May 2026
Class C - With Sales Charge (POP) (%)
Month End
As of 05/31/2026
Class C - Without Sales Charge (NAV) (%)
Month End
As of 05/31/2026
Linked Bloomberg New York Muni Bond/Muni Bond Index (%)
Month End
As of 05/31/2026
Ratings
Portfolio
Assets
As of05/31/2026 (Updated Monthly)
- Total Net Assets
- $2.62 Billion
Positions
As of 05/31/2026 (Updated Monthly)
Number of Holdings
- Fund
- 448
- Benchmark
- 6,966
Portfolio Statistics
As of 05/31/2026 (Updated Monthly)
Effective Duration
- Fund
- 8.38 Years
- Benchmark
- —
- Fund
- 19.74 Years
- Benchmark
- 14.65 Years
Asset Allocation
As of 05/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Fixed Income | 98.27% |
Cash & Cash Equivalents | 1.73% |
Distributions & Tax
Pricing
Daily Fund Prices
52-Week Range
- Highest NAV
As of 02/27/2026 - $10.00
- Lowest NAV
As of 07/18/2025 - $9.36
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin New York Tax-Free Income Fund | |||
| Product Commentary - Franklin New York Tax-Free Income Fund | |||
| Market commentary - Franklin Municipal Tax-Free Income Update |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin New York Tax-Free Income Fund - Class C | |||
| Annual Financial Statements and Other Information - Franklin New York Tax–Free Income Fund | |||
| Semi-Annual Report - Franklin New York Tax-Free Income Fund - Class C | |||
| Semi-Annual Financial Statements and Other Information - Franklin New York Tax–Free Income Fund | |||
| Prospectus - Franklin New York Tax-Free Income Fund - Class A | |||
| Summary Prospectus - Franklin New York Tax-Free Income Fund - Class A | |||
| Statement of Additional Information - Franklin New York Tax-Free Income Fund - Class A | |||
| Fiscal Q1 Holdings - Franklin New York Tax-Free Income Fund - Class A | |||
| Fiscal Q3 Holdings - Franklin New York Tax-Free Income Fund |
Risks
All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Portfolios focused on a single state are subject to greater risk of adverse economic and regulatory changes in that state than a geographically diversified fund. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. An investor may be subject to the federal Alternative Minimum Tax, and state and local taxes may apply. These and other risks are discussed in the fund’s prospectus.