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 09/30/2019

Month EndAs of 10/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 9.28 2.93 2.75 3.49 5.61
Fund with Sales Charge (%) (POP) 5.18 1.63 1.97 3.09 5.50
Bloomberg Barclays Municipal Bond Index (%) 9.42 3.62 3.55 4.40 6.49
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 8.53 2.64 2.92 3.31 5.63
Fund with Sales Charge (%) (POP) 4.49 1.35 2.13 2.92 5.51
Bloomberg Barclays Municipal Bond Index (%) 8.55 3.19 3.66 4.16 6.50

Calendar Year Returns

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Fund without Sales Charge (%) (NAV) 0.84 3.31 1.26 0.80 10.95 -5.15 6.10 9.87 0.32 10.77
Fund with Sales Charge (%) (POP) -3.45 -1.08 -3.04 -3.52 6.24 -9.19 1.56 5.18 -3.95 6.06
Bloomberg Barclays Municipal Bond Index (%) 1.28 5.45 0.25 3.30 9.05 -2.55 6.78 10.70 2.38 12.91

Cumulative Total Returns [further-information] As of 09/30/2019

Month EndAs of 10/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 6.89 9.28 9.06 14.53 40.90 561.09
Fund with Sales Charge (%) (POP) 2.85 5.18 4.97 10.23 35.56 536.27
Bloomberg Barclays Municipal Bond Index (%) 6.94 9.42 11.24 19.08 53.88 780.36
Quarter EndAs of 09/30/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 6.83 8.53 8.13 15.49 38.56 560.74
Fund with Sales Charge (%) (POP) 2.80 4.49 4.12 11.13 33.41 535.94
Bloomberg Barclays Municipal Bond Index (%) 6.75 8.55 9.88 19.68 50.38 778.79

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 10/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 9.28 2.93 2.75 3.49
Fund without Sales Charge (%) (NAV) After Shares Sold 6.74 2.97 2.86 3.52
Fund with Sales Charge (%) (POP) Before Shares Sold 5.18 1.63 1.97 3.09
Fund with Sales Charge (%) (POP) After Shares Sold 4.27 1.95 2.24 3.19
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.53 2.64 2.92 3.31
Fund without Sales Charge (%) (NAV) After Shares Sold 6.30 2.74 3.00 3.38
Fund with Sales Charge (%) (POP) Before Shares Sold 4.49 1.35 2.13 2.92
Fund with Sales Charge (%) (POP) After Shares Sold 3.86 1.74 2.37 3.06

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 0.75%

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.49
Standard Deviation 2.82

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index