PortfoliosLab logo
PortfoliosLab logo
Tools
Portfolios
Screeners
Discussions
Franklin High Yield Tax Free Income Fund (FRHIX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Franklin High Yield Tax Free Income Fund (FRHIX)

Mutual Fund · Currency in USD · Last updated May 25, 2025

The fund invests at least 80% of its net assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. It may invest in municipal securities rated in any rating category, including defaulted securities.

Fund Info

ISIN

US3547237020

CUSIP

354723702

Issuer

Franklin Templeton

Inception Date

Mar 17, 1986

Category

High Yield Muni

Min. Investment

$1,000

Asset Class

Bond

Expense Ratio

FRHIX has an expense ratio of 0.65%, placing it in the medium range.

Share Price Chart

Loading data...

Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin High Yield Tax Free Income Fund

Popular comparisons:
FRHIX vs. FKTIX
Popular comparisons:
FRHIX vs. FKTIX

Performance

Performance Chart

Loading data...

S&P 500

Returns By Period

Franklin High Yield Tax Free Income Fund (FRHIX) returned -2.22% year-to-date (YTD) and 2.63% over the past 12 months. Over the past 10 years, FRHIX returned 2.33% annually, underperforming the S&P 500 benchmark at 10.68%.

FRHIX

YTD

-2.22%

1M

0.63%

6M

-2.67%

1Y

2.63%

3Y*

2.84%

5Y*

1.74%

10Y*

2.33%

^GSPC (Benchmark)

YTD

-1.34%

1M

5.02%

6M

-2.79%

1Y

9.39%

3Y*

13.76%

5Y*

14.45%

10Y*

10.68%

*Annualized

Monthly Returns

The table below presents the monthly returns of FRHIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.62%1.36%-1.95%-1.42%-0.81%-2.22%
20240.72%0.57%0.74%-1.43%0.65%2.65%1.05%0.85%1.56%-1.26%1.93%-1.68%6.42%
20233.82%-2.84%1.35%0.37%-0.40%0.75%0.25%-1.10%-3.45%-2.26%6.91%3.35%6.46%
2022-2.78%-0.80%-3.76%-3.93%1.52%-3.74%4.04%-2.36%-5.85%-1.78%5.19%-0.08%-13.96%
20211.46%-1.53%0.74%1.47%0.85%0.99%0.96%-0.36%-0.95%-0.39%1.26%0.34%4.91%
20201.80%1.55%-6.27%-1.91%2.85%2.20%2.05%-0.06%0.13%0.03%2.22%1.49%5.88%
20190.58%0.68%1.79%0.66%1.34%0.31%0.55%1.79%-0.54%-0.17%0.21%0.24%7.66%
2018-0.83%-0.24%0.56%-0.14%0.98%0.37%0.78%0.37%-0.53%-0.94%0.69%0.89%1.96%
20170.58%0.77%0.09%0.77%1.06%-0.21%0.27%0.75%-0.71%-0.33%-0.24%0.96%3.81%
20161.13%0.17%0.74%0.74%0.55%2.41%0.16%0.25%-0.21%-1.05%-4.16%0.57%1.16%
20152.04%-0.86%0.35%-0.68%-0.31%-0.69%0.26%0.17%0.84%0.74%0.55%0.75%3.15%
20142.77%1.92%0.51%1.60%2.17%-0.21%-0.11%2.13%0.52%0.54%0.45%0.82%13.89%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of FRHIX is 34, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of FRHIX is 3434
Overall Rank
The Sharpe Ratio Rank of FRHIX is 3434
Sharpe Ratio Rank
The Sortino Ratio Rank of FRHIX is 3030
Sortino Ratio Rank
The Omega Ratio Rank of FRHIX is 3636
Omega Ratio Rank
The Calmar Ratio Rank of FRHIX is 3636
Calmar Ratio Rank
The Martin Ratio Rank of FRHIX is 3535
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Franklin High Yield Tax Free Income Fund (FRHIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Franklin High Yield Tax Free Income Fund Sharpe ratios as of May 25, 2025 (values are recalculated daily):

  • 1-Year: 0.40
  • 5-Year: 0.35
  • 10-Year: 0.51
  • All Time: 1.40

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Franklin High Yield Tax Free Income Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading data...

Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Franklin High Yield Tax Free Income Fund provided a 4.72% dividend yield over the last twelve months, with an annual payout of $0.41 per share. The fund has been increasing its distributions for 2 consecutive years.

3.60%3.80%4.00%4.20%4.40%4.60%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.41$0.40$0.40$0.37$0.38$0.40$0.44$0.44$0.45$0.45$0.45$0.47

Dividend yield

4.72%4.52%4.54%4.27%3.60%3.83%4.36%4.46%4.45%4.42%4.23%4.45%

Monthly Dividends

The table displays the monthly dividend distributions for Franklin High Yield Tax Free Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.04$0.03$0.03$0.03$0.00$0.13
2024$0.03$0.03$0.03$0.03$0.04$0.03$0.03$0.04$0.03$0.03$0.03$0.04$0.40
2023$0.03$0.03$0.04$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.04$0.40
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$0.37
2021$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.38
2020$0.03$0.03$0.04$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.40
2019$0.04$0.04$0.04$0.07$0.04$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.44
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$0.45
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$0.45
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$0.45
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$0.47

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.

Loading data...

Worst Drawdowns

The table below displays the maximum drawdowns of the Franklin High Yield 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 High Yield Tax Free Income Fund was 21.18%, occurring on Dec 15, 2008. Recovery took 186 trading sessions.

The current Franklin High Yield Tax Free Income Fund drawdown is 4.79%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-21.18%Jan 24, 2008226Dec 15, 2008186Sep 11, 2009412
-19%Aug 6, 2021308Oct 25, 2022———
-12.34%Mar 2, 202015Mar 20, 2020170Nov 19, 2020185
-11.36%May 3, 201389Sep 9, 2013182May 30, 2014271
-9.23%Oct 12, 201067Jan 14, 2011135Jul 29, 2011202
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading data...