Franklin California Tax Free Income Fund Class A1 FKTFX

Medalist Rating as of Sep 30, 2026 See Franklin Templeton Investment Hub

NAV / 1-Day Return$6.57 / 0.00
Fund Size$11.8B
Adjusted Expense Ratio0.610%
Net Expense Ratio0.610%
Fee Level: DistributionLow
Share Class TypeFront Load
Morningstar CategoryMuni California Long
Fixed-Income Style Box (Funds)—
Minimum Initial Investment$1,000
Investment StatusLimited
TTM Yield3.97%
Average Effective Duration8.23 yrs

NAV and 1-Day Return as of Nov 12, 2026, 1:11:04 AM

Will FKTFX outperform in the future?

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FKTFX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FKTFX 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 FKTFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Morningstar Automated Analysis

Summary

Franklin CA Tax Free Income A1 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 Sep 30, 2026 Published on Oct 27, 2026

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Portfolio Holdings FKTFX

More FKTFX Holdings

Current Portfolio DateSep 30, 2026
Equity Holdings—
Bond Holdings—
Other Holdings—
% Assets in Top 10 Holdings14.7

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
CALIFORNIA HEALTH FACS FING AUTH REV 4%	3.02	363M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%	1.55	186M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%	1.41	169M	municipal
PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%	1.41	169M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%	1.40	168M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5.95%	1.36	163M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 4%	1.34	161M	municipal
UNIV CALIF REGTS MED CTR POOLED REV 5%	1.14	137M	municipal
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%	1.07	128M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5.9%	1.02	123M	municipal

Franklin California Tax Free Income Fund Class A1 FKTFX

Morningstar’s Analysis FKTFX

Will FKTFX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

Summary

Portfolio Holdings FKTFX

CALIFORNIA HEALTH FACS FING AUTH REV 4%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 6%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5.95%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 4%

UNIV CALIF REGTS MED CTR POOLED REV 5%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5.9%

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