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Franklin High Yield Tax-Free Income Fund

Fund Category: Tax Free IncomeGo to Prices & Performance page
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Symbol FRHIX
CUSIP 354 723 702
Fund Number 130
Inception Date1 Mar 18, 1986
Distributions Monthly
Total Net Assets
(all share classes)
As of 10/31/2015

As of  11/27/2015

NAV2 $10.46  
NAV Change $0.00  
POP3 $10.92  
YTD Total Return at NAV 2.28%
Distribution Rate at NAV 4.29%
30-day Standardized Yield4
As of 10/31/2015 (updated monthly)

Average Annual Total Returns
As of Quarter End 09/30/2015

w/ Sales Charge w/o Sales Charge
1 Yr -1.44% 2.96%
5 Yrs 3.84% 4.75%
10 Yrs 4.22% 4.67%
Life 6.18% 6.34%

Expense Ratio and Sales Charge As of 07/01/2015 (updated annually)

Gross Expense Ratio5 0.65%
Net Expense Ratio 0.65%
Max Initial Sales Charge 4.25%
CDSC 0.00%
12b-1 Fee 0.10%

Fund Description

Strategy Statement
Portfolio Managers
John Wiley
"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."

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 taxes i
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles
i. Dividends are generally subject to state and local taxes, if any. For investors subject to the alternative minimum tax, a portion of fund dividends may be taxable. Distributions of capital gains are generally taxable.


Hypothetical $10K Investment

Hypothetical $10K Investment

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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Important Legal Information


For US residents only.