Morningstar

Franklin Virginia Tax Free Income Fund Class A1 FRVAX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 9.94  /  0.00
  • Total Assets 450.2M
  • Adj. Expense Ratio
    0.730%
  • Expense Ratio 0.740%
  • 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 3.07%
  • Effective Duration 7.76 years

USD | NAV as of Jun 13, 2026 | 1-Day Return as of Jun 13, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FRVAX

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

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin VA 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 FRVAX

More FRVAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 15.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV 5%

1.70 8M
municipal

NORTHERN VA TRANSN COMMN TRANSN DIST SPL OBLIG REV 5%

1.68 7M
municipal

NORFOLK VA WTR REV 5%

1.63 7M
municipal

NORFOLK VA WTR REV 5%

1.62 7M
municipal

VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG

1.60 7M
municipal

VIRGINIA SMALL BUSINESS FING AUTH REV 5%

1.58 7M
municipal

VIRGINIA ST RES AUTH INFRASTRUCTURE REV 5%

1.58 7M
municipal

WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV 5%

1.52 7M
municipal

VIRGINIA SMALL BUSINESS FING AUTH RESIDENTIAL CARE FAC REV 4%

1.47 7M
municipal

VIRGINIA PORT AUTH COMWLTH PORT FD REV 5.25%

1.47 6M
municipal

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