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.
Franklin Federal Tax Free Income A1 FKTIX
NAV / 1-Day Return
12.45
/
0.02
%
Total Assets
11.4 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.
0.620%
Expense Ratio
0.620%
Fee Level
Low
Longest Manager Tenure
24.45
years
Category
Muni National Long
Credit Quality / Interest Rate Sensitivity
Medium / ExtensiveMin. Initial Investment
1,000
Status
Limited
TTM Yield
2.76%
Effective Duration
7.12
years
Premium
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 FKTIX 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 FKTIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FKTIX 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 FKTIX’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.
