Morningstar

Franklin Virginia Tax Free Income Fund Class A1 FRVAX

Medalist Rating as of Aug 31, 2026 See Franklin Templeton Investment Hub

Strategy

The investment seeks to provide investors with as high a level of income exempt from federal income taxes as is consistent with prudent investment management and the preservation of shareholders' capital. The fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. In addition, it invests at least 80% of its total assets in securities that pay interest free from the personal income taxes, if any, of Virginia. The fund only buys municipal securities rated in one of the top four ratings categories by one or more U.S. nationally recognized rating services.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FRVZX	Franklin Virginia Tax Free Income Fund Advisor Class	No Load	Open			Jul 1, 2009	$116.87M	0.640%	Above Average	$0	−$19.26M
FRVAX	Franklin Virginia Tax Free Income Fund Class A1	Front Load	Limited			Sep 1, 1987	$147.28M	0.740%	Below Average	$1,000	−$24.58M
FVAQX	Franklin Virginia Tax Free Income Fund Class A	Front Load	Open			Sep 10, 2018	$83.21M	0.890%	High	$1,000	$3.83M
FVAIX	Franklin Virginia Tax Free Income Fund Class C	Level Load	Open			May 1, 1995	$3.89M	1.280%	Below Average	$1,000	−$905,318.58
FRVRX	Franklin Virginia Tax Free Income Fund Class R6	Retirement, Large	Open			Aug 1, 2017	$67.03M	0.570%	High	$0	$18.55M

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