Franklin Federal Limited-Term Tax-Free Income Fund (FFTFX)
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 does maintain a dollar-weighted average portfolio maturity of five years or less. The fund 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.
Fund Info
| ISIN | US3547232807 |
|---|---|
| CUSIP | 354723280 |
| Issuer | Franklin Templeton Investments |
| Inception Date | Sep 1, 2003 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
FFTFX features an expense ratio of 0.55%, falling within the medium range.
Share Price Chart
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Popular comparisons: FFTFX vs. NVDY
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Franklin Federal Limited-Term Tax-Free Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Franklin Federal Limited-Term Tax-Free Income Fund had a return of 3.11% year-to-date (YTD) and 5.97% in the last 12 months. Over the past 10 years, Franklin Federal Limited-Term Tax-Free Income Fund had an annualized return of 1.19%, while the S&P 500 had an annualized return of 10.88%, indicating that Franklin Federal Limited-Term Tax-Free Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 3.11% | 18.13% |
| 1 month | 0.74% | 1.45% |
| 6 months | 2.69% | 8.81% |
| 1 year | 5.97% | 26.52% |
| 5 years (annualized) | 1.36% | 13.43% |
| 10 years (annualized) | 1.19% | 10.88% |
Monthly Returns
The table below presents the monthly returns of FFTFX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.10% | 0.21% | 0.13% | -0.17% | 0.15% | 0.80% | 0.72% | 0.84% | 3.11% | ||||
| 2023 | 1.43% | -1.20% | 1.20% | -0.02% | -0.39% | 0.60% | 0.18% | -0.30% | -0.89% | -0.09% | 2.43% | 1.13% | 4.10% |
| 2022 | -1.36% | -0.41% | -1.37% | -1.10% | 0.68% | -0.50% | 1.19% | -1.17% | -1.57% | -0.29% | 2.06% | 0.26% | -3.59% |
| 2021 | 0.27% | -0.95% | 0.28% | 0.36% | 0.06% | -0.02% | 0.25% | -0.13% | -0.32% | -0.13% | 0.16% | -0.02% | -0.22% |
| 2020 | 0.88% | 0.39% | -1.36% | 0.10% | 1.52% | 0.10% | 0.47% | 0.00% | -0.01% | -0.10% | 0.56% | 0.27% | 2.85% |
| 2019 | 0.52% | 0.34% | 0.53% | 0.13% | 0.71% | 0.21% | 0.61% | 0.50% | -0.44% | 0.13% | 0.12% | 0.13% | 3.55% |
| 2018 | 0.16% | -0.02% | -0.02% | -0.30% | 0.50% | 0.21% | 0.21% | 0.03% | -0.36% | -0.16% | 0.52% | 0.62% | 1.39% |
| 2017 | 0.36% | 0.16% | -0.03% | 0.16% | 0.26% | -0.12% | 0.16% | 0.16% | -0.23% | -0.04% | -0.52% | 0.06% | 0.39% |
| 2016 | 0.37% | 0.16% | -0.22% | 0.17% | -0.02% | 0.17% | 0.17% | -0.11% | -0.12% | -0.03% | -0.51% | 0.07% | 0.09% |
| 2015 | 0.46% | -0.22% | -0.03% | -0.03% | -0.21% | 0.08% | 0.17% | 0.08% | 0.17% | 0.17% | -0.21% | -0.02% | 0.41% |
| 2014 | 0.37% | 0.36% | -0.30% | 0.27% | 0.28% | -0.01% | 0.09% | 0.19% | -0.10% | 0.09% | -0.02% | -0.11% | 1.09% |
| 2013 | 0.12% | 0.22% | 0.13% | 0.11% | -0.16% | -0.64% | 0.20% | -0.17% | 0.30% | 0.30% | -0.01% | -0.02% | 0.38% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of FFTFX is 91, placing it in the top 9% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Franklin Federal Limited-Term Tax-Free Income Fund (FFTFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Franklin Federal Limited-Term Tax-Free Income Fund granted a 2.61% dividend yield in the last twelve months. The annual payout for that period amounted to $0.27 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.24 | $0.12 | $0.09 | $0.13 | $0.17 | $0.13 | $0.08 | $0.09 | $0.09 | $0.10 | $0.14 |
Dividend yield | 2.61% | 2.30% | 1.20% | 0.82% | 1.19% | 1.65% | 1.28% | 0.79% | 0.87% | 0.89% | 0.99% | 1.34% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Federal Limited-Term Tax-Free Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.00 | $0.18 | |||
| 2023 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.12 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2020 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
| 2013 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Franklin Federal Limited-Term Tax-Free Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Franklin Federal Limited-Term Tax-Free Income Fund was 6.53%, occurring on Oct 25, 2022. Recovery took 318 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -6.53% | Feb 17, 2021 | 427 | Oct 25, 2022 | 318 | Feb 1, 2024 | 745 |
| -6.01% | Mar 10, 2020 | 9 | Mar 20, 2020 | 77 | Jul 10, 2020 | 86 |
| -2.39% | Sep 12, 2008 | 25 | Oct 16, 2008 | 55 | Jan 6, 2009 | 80 |
| -2.23% | Mar 11, 2004 | 45 | May 13, 2004 | 86 | Sep 16, 2004 | 131 |
| -1.58% | Nov 9, 2010 | 47 | Jan 14, 2011 | 75 | May 4, 2011 | 122 |
Volatility
Volatility Chart
The current Franklin Federal Limited-Term Tax-Free Income Fund volatility is 0.40%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.