Morningstar

Franklin Minnesota Tax-Free Income Fund Advisor Class FMNZX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 11.30  /  −0.09 %
  • Total Assets 597.2M
  • Adj. Expense Ratio
    0.580%
  • Expense Ratio 0.600%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Muni Minnesota
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 100,000
  • Status Open
  • TTM Yield 3.29%
  • Effective Duration 7.02 years

USD | NAV as of Jun 06, 2026 | 1-Day Return as of Jun 06, 2026, 2:22 AM GMT+0

Morningstar’s Analysis FMNZX

Will FMNZX 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 FMNZX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin MN Tax-Free Inc Adv 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 Published on

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Portfolio Holdings FMNZX

More FMNZX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 26.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

ALEXANDRIA MINN INDPT SCH DIST NO 206 3%

4.80 29M
municipal

MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV 5%

3.49 21M
municipal

FRIDLEY MINN MULTIFAMILY HSG REV 5.75%

2.82 17M
municipal

DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV 5%

2.62 16M
municipal

NORTH ST PAUL MAPLEWOOD MINN INDPT SCH DIST NO 622 3%

2.48 15M
municipal

MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV 5%

2.43 15M
municipal

DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV 5.25%

2.18 13M
municipal

ST PAUL MINN WTR REV 4%

2.18 13M
municipal

MINNESOTA MUN GAS AGY COMMODITY SUPPLY REV 4%

1.96 12M
municipal

ROCHESTER MINN HEALTH CARE FACS REV 5%

1.80 11M
municipal

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