FAZRX – Fund Analysis – Franklin AZ Tax Free Income R6 | Morningstar

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Will FAZRX outperform in the future?

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Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FAZRX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar

The People Pillar is our evaluation of the FAZRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar

The Parent Pillar is our rating of FAZRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

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Morningstar Automated Analysis

Summary

Franklin AZ Tax Free Income R6 holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis

Rated on Jun 30, 2026 Published on Jul 28, 2026

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