Franklin High Yield Tax Free Income Fund (FRHIX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FRHIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FRHIX
FRHIX charges 0.65% annually. There are 25 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 0.09% | 17.60B | Nov 2001 | FRHIX vs VWALX | |
| BlackRock Allocation Target Shares Series E Portfo... | 0.11% | — | Aug 2014 | FRHIX vs BATEX | |
| Vanguard High-Yield Tax-Exempt Fund Investor Share... | 0.17% | 17.60B | Dec 1978 | FRHIX vs VWAHX | |
| Eaton Vance High Yield Municipal Income Fund Class... | 0.18% | — | May 2007 | FRHIX vs EWHYX | |
| American High-Income Municipal Bond Fund Class F-3 | 0.31% | — | Jan 2017 | FRHIX vs HIMFX |
Best Risk-Adjusted Alternatives to FRHIX
FRHIX has a PortfoliosLab risk / return rank of 87. There are 20 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| T. Rowe Price Tax Free High Yield Fund | 96 | — | Feb 1985 | FRHIX vs PRFHX | |
| Federated Hermes Municipal High Yield Advtg Fd | 95 | — | Apr 1987 | FRHIX vs FHTFX | |
| Invesco Short Duration High Yield Municipal Fund | 95 | — | Sep 2015 | FRHIX vs ISHYX | |
| Columbia High Yield Municipal Fund | 94 | — | Mar 1984 | FRHIX vs SRHMX | |
| Allspring High Yield Municipal Bond Fund | 93 | — | Jan 2013 | FRHIX vs WHYIX |
Top Performing FRHIX Alternatives (YTD)
FRHIX is at 3.08% YTD. There are 19 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 6.50%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal High Income Opportunity Fund | 6.50% | — | Nov 2003 | FRHIX vs NMZ | |
| Eaton Vance High Yield Municipal Income Fund Class... | 3.93% | — | May 2007 | FRHIX vs EWHYX | |
| Nuveen High Yield Municipal Bond Fund Class R6 | 3.83% | — | Jun 2016 | FRHIX vs NHMFX | |
| Columbia High Yield Municipal Fund | 3.80% | — | Mar 1984 | FRHIX vs SRHMX | |
| BlackRock Allocation Target Shares Series E Portfo... | 3.77% | — | Aug 2014 | FRHIX vs BATEX |
Lowest Volatility Alternatives to FRHIX
FRHIX has 3.43% 1-year volatility. There are 30 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.07%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Redwood Managed Municipal Income Fund | 2.07% | — | Mar 2017 | FRHIX vs RWMIX | |
| Lord Abbett Short Duration High Income Municipal B... | 2.07% | — | Jun 2015 | FRHIX vs SDHIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 2.23% | — | Jan 2013 | FRHIX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | 2.29% | — | Sep 2015 | FRHIX vs ISHYX | |
| Counterpoint Tactical Municipal Fund | 2.58% | — | Jun 2018 | FRHIX vs TMNIX |
Lowest Drawdown Alternatives to FRHIX
FRHIX has a 1-year max drawdown of -3.21%. There are 42 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.71%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Eagle Short Duration High Yield Municipal Fu... | -1.71% | — | Feb 2024 | FRHIX vs FDUAX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | -1.79% | — | Jan 2013 | FRHIX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | -1.89% | — | Sep 2015 | FRHIX vs ISHYX | |
| abrdn Short Duration High Yield Municipal Fund | -1.98% | — | May 2013 | FRHIX vs AHYMX | |
| Lord Abbett Short Duration High Income Municipal B... | -2.08% | — | Jun 2015 | FRHIX vs SDHIX |
Other Mutual Funds from Franklin Templeton
The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 9 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities, Technology Equities | 14 | 6.87% | — | Jan 1968 | FRHIX vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Gold, Precious Metals | 29 | -12.09% | — | May 1969 | FRHIX vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 83 | 5.21% | — | — | FRHIX vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 22 | 5.79% | — | Apr 1948 | FRHIX vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 39 | 22.38% | — | Jun 2011 | FRHIX vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 30 | 6.47% | — | Jan 1987 | FRHIX vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 7 | 3.38% | — | Aug 1997 | FRHIX vs SBLGX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 87 | 5.36% | — | Aug 1997 | FRHIX vs FRIAX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 8 | 2.37% | — | Oct 1983 | FRHIX vs SHRAX | |
| Templeton Institutional Fund International Equity ... | Foreign Large Cap Equities | 41 | 13.70% | — | Oct 1990 | FRHIX vs TFEQX |
Often Compared With FRHIX
Investors most often compare FRHIX with FKTIX, AHMFX, RFM. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare FRHIX with Any Fund or Stock
Compare FRHIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FRHIX with funds that move differently
Franklin High Yield Tax Free Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FRHIX.
Explore FRHIX Diversifiers