Franklin Michigan Tax-Free Income Fund

New investors must invest in new Class A shares. This A1 share class is available only for existing investors as of 9/7/18.

New investors must invest in new Class A shares. This A1 share class is available only for existing investors as of 9/7/18.

Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 9.36 4.54 3.26 3.67 5.66
Fund with Sales Charge (%) (POP) 5.26 3.21 2.47 3.28 5.55
Bloomberg Barclays Municipal Bond Index (%) 9.46 5.32 4.01 4.51 6.54
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 04/03/1985
Fund without Sales Charge (%) (NAV) 7.27 3.77 2.67 3.45 5.60
Fund with Sales Charge (%) (POP) 3.22 2.45 1.89 3.05 5.48
Bloomberg Barclays Municipal Bond Index (%) 7.54 4.73 3.53 4.34 6.48

Calendar Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Fund without Sales Charge (%) (NAV) 7.27 0.84 3.31 1.26 0.80 10.95 -5.15 6.10 9.87 0.32
Fund with Sales Charge (%) (POP) 3.22 -2.96 -1.08 -3.04 -3.52 6.24 -9.19 1.56 5.18 -3.95
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 12/31/2019

Month EndAs of 02/29/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 3.16 9.36 14.24 17.38 43.46 584.43
Fund with Sales Charge (%) (POP) -0.74 5.26 9.95 12.96 38.04 558.74
Bloomberg Barclays Municipal Bond Index (%) 3.11 9.46 16.83 21.75 55.38 812.79
Quarter EndAs of 12/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 7.27 7.27 11.76 14.07 40.38 563.47
Fund with Sales Charge (%) (POP) 3.22 3.22 7.54 9.79 35.07 538.56
Bloomberg Barclays Municipal Bond Index (%) 7.54 7.54 14.85 18.93 52.95 785.26

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.36 4.54 3.26 3.67
Fund without Sales Charge (%) (NAV) After Shares Sold 6.73 4.18 3.23 3.65
Fund with Sales Charge (%) (POP) Before Shares Sold 5.26 3.21 2.47 3.27
Fund with Sales Charge (%) (POP) After Shares Sold 4.26 3.14 2.60 3.32
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 7.27 3.78 2.67 3.45
Fund without Sales Charge (%) (NAV) After Shares Sold 5.51 3.61 2.79 3.49
Fund with Sales Charge (%) (POP) Before Shares Sold 3.22 2.45 1.89 3.05
Fund with Sales Charge (%) (POP) After Shares Sold 3.07 2.58 2.17 3.16

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

Gross Expense Ratio 0.68%
Net Expense Ratio [further-information] 0.68%
Max Initial Sales Charge 3.75%
CDSC 1.00%

Volatility Measures [further-information] As of 02/29/2020 Updated Monthly, based on a 3-year period

Sharpe Ratio 1.15
Standard Deviation 2.49

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index