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Franklin Federal Tax Free Income Adv FAFTX

Analyst rating as of
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Morningstar’s Analysis

Will FAFTX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

The new head of Franklin’s municipal platform has made multiple changes.

Summary

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Because of a technical error, the Analyst Rating for one or more share classes of this fund was incorrect. We have resolved the error and corrected the Analyst Rating for all share classes affected by it. For further details, go to morningstar.com/learn/ar. The reorganization of personnel supporting Franklin Federal Tax-Free Income could benefit the strategy long term, but time is needed to assess if the adjustments and process changes are material improvements. The People Pillar was downgraded to Average from Above Average.

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