Morningstar

Franklin Michigan Tax-Free Income Fund Class A1 FTTMX

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. It only buys municipal securities rated, at the time of purchase, 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
FMTFX	Franklin Michigan Tax-Free Income Fund Class Adv	Institutional	Open			Jul 1, 2008	$131.39M	0.590%	Above Average	$100,000	$21.54M
FTTMX	Franklin Michigan Tax-Free Income Fund Class A1	Front Load	Limited			Apr 3, 1985	$331.97M	0.700%	Low	$1,000	−$55.64M
FMQTX	Franklin Michigan Tax-Free Income Fund Class A	Front Load	Open			Sep 10, 2018	$113.93M	0.840%	High	$1,000	−$7.46M
FRMTX	Franklin Michigan Tax-Free Income Fund Class C	Level Load	Open			May 1, 1995	$9.83M	1.240%	Low	$1,000	−$2.53M
FKTNX	Franklin Michigan Tax-Free Income Fund Class R6	Retirement, Large	Open			Aug 1, 2017	$13.61M	0.550%	Above Average	$1M	−$3.60M

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