Franklin Federal Tax Free Income Fund (FKTIX)
The fund invests at least 80% of its total assets in investment grade municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax. Although the fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of its total assets may be in securities that pay interest that may be subject to the federal alternative minimum tax and, although not anticipated, in securities that pay taxable interest.
Fund Info
| ISIN | US3535191015 |
|---|---|
| CUSIP | 353519101 |
| Issuer | Franklin Templeton Investments |
| Inception Date | Oct 6, 1983 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
FKTIX features an expense ratio of 0.64%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: FKTIX vs. PYPY
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Franklin Federal 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 Tax Free Income Fund had a return of 3.37% year-to-date (YTD) and 9.44% in the last 12 months. Over the past 10 years, Franklin Federal Tax Free Income Fund had an annualized return of 2.12%, while the S&P 500 had an annualized return of 11.39%, indicating that Franklin Federal Tax Free Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 3.37% | 25.48% |
| 1 month | -0.05% | 2.14% |
| 6 months | 2.71% | 12.76% |
| 1 year | 9.44% | 33.14% |
| 5 years (annualized) | 1.32% | 13.96% |
| 10 years (annualized) | 2.12% | 11.39% |
Monthly Returns
The table below presents the monthly returns of FKTIX, 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 | 0.11% | 0.19% | 0.21% | -1.27% | 0.34% | 1.78% | 0.96% | 0.61% | 1.19% | -1.05% | 3.37% | ||
| 2023 | 3.51% | -2.40% | 1.93% | 0.07% | -0.54% | 0.88% | 0.19% | -1.39% | -3.13% | -1.86% | 7.18% | 2.87% | 7.05% |
| 2022 | -2.80% | -0.71% | -3.32% | -3.44% | 1.17% | -2.55% | 2.97% | -2.54% | -4.47% | -1.58% | 5.57% | -0.16% | -11.67% |
| 2021 | 0.79% | -1.98% | 0.83% | 1.29% | 0.61% | 0.48% | 0.86% | -0.50% | -0.93% | -0.12% | 1.04% | 0.16% | 2.51% |
| 2020 | 1.83% | 1.53% | -3.71% | -1.94% | 3.18% | 1.01% | 1.75% | -0.48% | -0.17% | -0.26% | 1.99% | 0.97% | 5.65% |
| 2019 | 0.48% | 0.48% | 1.67% | 0.43% | 1.30% | 0.25% | 0.63% | 1.76% | -0.64% | -0.06% | 0.24% | 0.18% | 6.91% |
| 2018 | -0.86% | -0.36% | 0.32% | -0.37% | 1.00% | 0.14% | 0.06% | 0.15% | -0.63% | -0.63% | 0.85% | 1.02% | 0.67% |
| 2017 | 0.50% | 0.50% | -0.00% | 0.42% | 0.91% | -0.18% | 0.57% | 0.47% | -0.44% | 0.23% | -0.36% | 0.99% | 3.65% |
| 2016 | 0.97% | 0.16% | 0.32% | 0.65% | 0.32% | 1.60% | 0.14% | 0.14% | -0.41% | -0.74% | -2.85% | 0.49% | 0.73% |
| 2015 | 1.99% | -1.11% | 0.23% | -0.65% | -0.17% | -0.33% | 0.48% | 0.15% | 0.65% | 0.41% | 0.32% | 0.49% | 2.47% |
| 2014 | 2.23% | 1.44% | 0.42% | 1.33% | 1.65% | 0.09% | 0.08% | 1.55% | 0.15% | 0.72% | 0.39% | 0.63% | 11.20% |
| 2013 | 0.39% | 0.16% | -0.55% | 1.35% | -1.42% | -3.60% | -1.67% | -1.69% | 2.35% | 0.78% | -0.15% | -0.32% | -4.43% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FKTIX is 68, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Franklin Federal Tax Free Income Fund (FKTIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Franklin Federal Tax Free Income Fund provided a 3.62% dividend yield over the last twelve months, with an annual payout of $0.39 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.39 | $0.37 | $0.34 | $0.33 | $0.36 | $0.40 | $0.44 | $0.46 | $0.47 | $0.47 | $0.48 | $0.48 |
Dividend yield | 3.62% | 3.43% | 3.24% | 2.64% | 2.88% | 3.34% | 3.82% | 3.84% | 3.89% | 3.81% | 3.84% | 4.12% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Federal 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.00 | $0.33 | |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2019 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
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 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 Tax Free Income Fund was 17.07%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Franklin Federal Tax Free Income Fund drawdown is 2.63%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.07% | Jul 21, 2021 | 320 | Oct 25, 2022 | — | — | — |
| -15.48% | Mar 11, 1987 | 159 | Oct 19, 1987 | 94 | Feb 26, 1988 | 253 |
| -13.52% | Jan 24, 2008 | 184 | Oct 15, 2008 | 147 | May 18, 2009 | 331 |
| -10.98% | Mar 10, 2020 | 9 | Mar 20, 2020 | 96 | Aug 6, 2020 | 105 |
| -8.82% | Oct 13, 2010 | 66 | Jan 14, 2011 | 123 | Jul 13, 2011 | 189 |
Volatility
Volatility Chart
The current Franklin Federal Tax Free Income Fund volatility is 1.91%, 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.