The reorganization of personnel supporting Franklin Federal Intermediate Tax Free Income has the potential to benefit the strategy over the long term, but more time is needed to assess whether these adjustments plus process changes create material improvements. Most share classes for this strategy retain a Morningstar Analyst Rating of Neutral, while the most expensive C share class is rated Negative.
Franklin Federal Interm-Term T/F Inc Adv FITZX
NAV / 1-Day Return
12.35
/
0.17
%
Total Assets
3.7 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.460%
Expense Ratio
0.460%
Fee Level
Below Average
Longest Manager Tenure
21.29
years
Category
Muni National Interm
Credit Quality / Interest Rate Sensitivity
High / ModerateMin. Initial Investment
100,000
Status
Open
TTM Yield
2.35%
Effective Duration
4.89
years
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will FITZX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FITZX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FITZX 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 FITZX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The new head of Franklin’s municipal platform has made multiple changes.
