Morningstar

Franklin Michigan Tax-Free Income Fund Class R6 FKTNX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 10.43  /  −0.10 %
  • Total Assets 661.1M
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level Above Average
  • Share Class Type Retirement, Large
  • Category Muni Single State Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1M
  • Status Open
  • TTM Yield 3.58%
  • Effective Duration 8.19 years

USD | NAV as of Aug 11, 2026 | 1-Day Return as of Aug 11, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FKTNX

Will FKTNX outperform in the 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 FKTNX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FKTNX 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 FKTNX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin MI Tax-Free Inc 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
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Portfolio Holdings FKTNX

More FKTNX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 17.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

GRAND TRAVERSE CNTY MICH HOSP FIN AUTH HOSP REV 3.25%

2.10 14M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

1.96 13M
municipal

MICHIGAN ST BLDG AUTH REV 5%

1.81 12M
municipal

MICHIGAN FIN AUTH REV 5%

1.80 12M
municipal

TRENTON MICH PUB SCHS SCH DIST 5%

1.75 12M
municipal

LANSING MICH 5%

1.55 10M
municipal

PUBLIC FIN AUTH WIS MULTIFAMILY HSG REV 0%

1.54 10M
municipal

GREEN LAKE TWP MICH ECONOMIC DEV CORP REV 3.25%

1.52 10M
municipal

MICHIGAN ST HOSP FIN AUTH REV 5%

1.51 10M
municipal

LANSING MICH BRD WTR & LT UTIL SYS REV 5%

1.50 10M
municipal

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