Morningstar

Franklin Alabama Tax Free Income Fund Class A1 FRALX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 10.15  /  −0.10 %
  • Total Assets 169.2M
  • Adj. Expense Ratio
    0.750%
  • Expense Ratio 0.750%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category Muni Single State Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Limited
  • TTM Yield 3.05%
  • Effective Duration 7.88 years

USD | NAV as of Jul 18, 2026 | 1-Day Return as of Jul 18, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FRALX

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

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin Alabama Tax Free Income A1 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
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Portfolio Holdings FRALX

More FRALX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 21.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CASH OR CURRENCY

3.20 5M
Cash and Equivalents

JEFFERSON CNTY ALA SWR REV 5.5%

2.84 5M
municipal

JACKSONVILLE ALA ST UNIV REV 4%

2.54 4M
municipal

PELL CITY ALA SPL CARE FACS FING AUTH REV 4%

2.45 4M
municipal

HUNTSVILLE ALA HEALTH CARE AUTH 5%

2.06 3M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV 5.25%

1.98 3M
municipal

BESSEMER ALA GOVERNMENTAL UTIL SVCS CORP WTR SUPPLY REV 5%

1.87 3M
municipal

MADISON ALA WTR & WASTEWTR BRD WTR & SWR REV 5%

1.85 3M
municipal

UNIVERSITY ALA GEN FEE REV 5%

1.85 3M
municipal

EAST ALA HEALTH CARE AUTH HEALTH CARE FACS REV 5%

1.85 3M
municipal

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