Morningstar

Franklin Michigan Tax-Free Income Fund Class A FMQTX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 10.50  /  0.00
  • Total Assets 669.2M
  • Adj. Expense Ratio
    0.840%
  • Expense Ratio 0.840%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni Single State Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 3.19%
  • Effective Duration 8.19 years

USD | NAV as of Jul 16, 2026 | 1-Day Return as of Jul 16, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FMQTX

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

  • People Pillar

    The People Pillar is our evaluation of the FMQTX 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 FMQTX’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 A holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings FMQTX

More FMQTX 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%

2.11 14M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

1.93 13M
municipal

MICHIGAN ST BLDG AUTH REV 5%

1.80 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%

1.56 10M
municipal

PUBLIC FIN AUTH WIS MULTIFAMILY HSG REV 0%

1.56 10M
municipal

GREEN LAKE TWP MICH ECONOMIC DEV CORP REV 3.25%

1.53 10M
municipal

MICHIGAN ST HOSP FIN AUTH REV 5%

1.51 10M
municipal

MICHIGAN ST BLDG AUTH REV 5%

1.49 10M
municipal

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