Franklin High Yield Tax-Free Income Fund

PRICE AND YTD RETURN As of 07/25/2016

NAV up $0.00 $10.86
POP $11.34
YTD Total return at Nav 5.86%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 06/30/2016

Sales Charge

10 YEAR RETURN 4.73%


Investment Category Municipal Bonds
Distributions Monthly
CUSIP 354 723 702
Fund Number 130
Inception Date Mar 18, 1986
Total Net Assets (all share classes) As of 06/30/2016 $8,619.3 (M)
Distribution Rate at NAV As of 07/25/2016 4.11%
30-Day Standardized yield As of 06/30/2016 (updated monthly) 2.26%

SALES CHARGE, EXPENSES, & FEES As of 07/01/2016 (updated annually)

Gross Expense Ratio 0.67%
Net Expense Ratio 0.67%
Max Initial Sales Charge 4.25%
CDSC 0.00%
12b-1 Fee 0.10%

Fund Description

This Fund invests in high yielding, lower rated municipal securities from across the nation.

Strategy Statement

"In the Franklin Muni Department, we are committed to a conservative, disciplined investment strategy. For over 30 years, we have worked to provide shareholders with a high level of tax-free income."


John Wiley, MBA

John Wiley, MBA

  • Joined Franklin Templeton in 1989
  • Managed Fund Since 1991
Francisco Rivera

Francisco Rivera

  • Joined Franklin Templeton in 1994
  • Managed Fund Since 2004
Daniel Workman, CFA

Daniel Workman, CFA®

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2009

Overall Morningstar Rating As of 06/30/2016

Rating Category: High Yield Muni

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 06/30/2016

Years Ratings Funds
in category
2 Stars
2 Stars
3 Stars

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results


  • We seek to provide a high current yield.
  • We don't use leverage or invest in derivatives, which can increase portfolio volatility.
  • Our analysts search for attractively valued, higher-yielding bonds.
  • We buy and hold for the long term.


  • Monthly income exempt from federal income taxesi
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles

Investing In The Fund

What Are the Risks?
  • All investments involve risks, including possible loss of principal.
  • Yield and share price will fluctuate with market conditions due to municipal bonds’ sensitivity to interest-rate movements.
  • Bond prices generally move in the opposite direction of interest rates, thus the fund’s share price may decline as the prices of bonds adjust to a rise in interest rates.
  • In general, an investor is paid a higher yield to assume a greater degree of credit risk.
  • The fund holds a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the fund’s share price to decline.
  • These and other risk considerations are discussed in the fund’s prospectus.

Minimum Investment


How Financial Advisors Help You

Speak to your financial advisor about whether this fund is appropriate for you. If you don't have a financial advisor, request a referral.

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