Franklin Alabama Tax Free Income Fund (FRALX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FRALX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FRALX
FRALX charges 0.75% annually. There are 339 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | FRALX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FRALX vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FRALX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FRALX vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FRALX vs FSMUX |
Best Risk-Adjusted Alternatives to FRALX
FRALX has a PortfoliosLab risk / return rank of 69. There are 293 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FRALX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | FRALX vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | FRALX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FRALX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | FRALX vs DFSMX |
Top Performing FRALX Alternatives (YTD)
FRALX is at 1.71% YTD. There are 213 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 13.22%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 13.22% | — | Apr 1998 | FRALX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | FRALX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | FRALX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | FRALX vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | FRALX vs NPV |
Lowest Volatility Alternatives to FRALX
FRALX has 2.84% 1-year volatility. There are 290 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | FRALX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FRALX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | FRALX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | FRALX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | FRALX vs DFSMX |
Lowest Drawdown Alternatives to FRALX
FRALX has a 1-year max drawdown of -3.01%. There are 341 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FRALX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FRALX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | FRALX vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FRALX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FRALX vs FHMIX |
Other Mutual Funds from Franklin Templeton
The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 8 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities, Technology Equities | 19 | 10.18% | — | Jan 1968 | FRALX vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Gold, Precious Metals | 34 | -1.84% | — | May 1969 | FRALX vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 82 | 4.34% | — | — | FRALX vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 24 | 4.76% | — | Apr 1948 | FRALX vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 23 | 16.33% | — | Jun 2011 | FRALX vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 32 | 5.20% | — | Jan 1987 | FRALX vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 7 | 1.54% | — | Aug 1997 | FRALX vs SBLGX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 7 | 1.90% | — | Oct 1983 | FRALX vs SHRAX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 87 | 4.46% | — | Aug 1997 | FRALX vs FRIAX | |
| ClearBridge Appreciation Fund | Large Cap Blend Equities | 31 | 4.32% | — | Mar 1970 | FRALX vs SHAPX |
Often Compared With FRALX
Investors most often compare FRALX with MELI, DMREX, FXIEX. These 12 comparison targets span 1 categories, based on PortfoliosLab usage data.
Compare FRALX with Any Fund or Stock
Compare FRALX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FRALX with funds that move differently
Franklin Alabama Tax Free Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FRALX.
Explore FRALX Diversifiers