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 06/30/2019

Month EndAs of 08/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 8.61 2.75 3.08 3.71 5.66
Fund with Sales Charge (%) (POP) 4.52 1.45 2.29 3.31 5.54
Bloomberg Barclays Municipal Bond Index (%) 8.72 3.30 3.85 4.62 6.54
Quarter EndAs of 06/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 04/03/1985
Fund without Sales Charge (%) (NAV) 6.28 2.10 2.94 3.75 5.62
Fund with Sales Charge (%) (POP) 2.29 0.80 2.16 3.35 5.50
Bloomberg Barclays Municipal Bond Index (%) 6.71 2.55 3.64 4.72 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 06/30/2019

Month EndAs of 08/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 7.59 8.61 8.49 16.39 43.93 565.45
Fund with Sales Charge (%) (POP) 3.53 4.52 4.40 12.00 38.55 540.47
Bloomberg Barclays Municipal Bond Index (%) 7.61 8.72 10.22 20.77 57.03 785.89
Quarter EndAs of 06/30/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 04/03/1985
Fund without Sales Charge (%) (NAV) 5.02 6.28 6.42 15.59 44.44 549.56
Fund with Sales Charge (%) (POP) 1.06 2.29 2.41 11.28 39.05 525.18
Bloomberg Barclays Municipal Bond Index (%) 5.09 6.71 7.85 19.58 58.59 765.16

After-Tax Average Annual Total Returns [further-information] As of 06/30/2019

Month EndAs of 08/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 8.61 2.75 3.08 3.71
Fund without Sales Charge (%) (NAV) After Shares Sold 6.35 2.83 3.12 3.70
Fund with Sales Charge (%) (POP) Before Shares Sold 4.52 1.45 2.29 3.31
Fund with Sales Charge (%) (POP) After Shares Sold 3.87 1.81 2.50 3.37
Quarter EndAs of 06/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.28 2.10 2.94 3.74
Fund without Sales Charge (%) (NAV) After Shares Sold 4.98 2.34 3.03 3.75
Fund with Sales Charge (%) (POP) Before Shares Sold 2.29 0.80 2.16 3.35
Fund with Sales Charge (%) (POP) After Shares Sold 2.57 1.33 2.41 3.43

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 08/31/2019 Updated Monthly, based on a 3-year period

Sharpe Ratio 0.45
Standard Deviation 2.86

Benchmarks

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

  • Bloomberg Barclays Municipal Bond Index