FVCAX Alternatives & Similar Mutual Funds

Franklin California High Yield Municipal Fund Advisor Class (FVCAX) 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 FVCAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FVCAX

FVCAX charges 0.55% annually. There are 11 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.

Symbol	Name	Expense Ratio	AUM	Inception
VWALX	Vanguard High-Yield Tax-Exempt Fund Admiral Shares	0.09%	17.80B	Nov 2001	FVCAX vs VWALX
BATEX	BlackRock Allocation Target Shares Series E Portfo...	0.11%	—	Aug 2014	FVCAX vs BATEX
VWAHX	Vanguard High-Yield Tax-Exempt Fund Investor Share...	0.17%	17.80B	Dec 1978	FVCAX vs VWAHX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.18%	—	May 2007	FVCAX vs EWHYX
HIMFX	American High-Income Municipal Bond Fund Class F-3	0.31%	—	Jan 2017	FVCAX vs HIMFX

Best Risk-Adjusted Alternatives to FVCAX

FVCAX has a PortfoliosLab risk / return rank of 78. There are 27 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 95.

Symbol	Name	Risk / Return Rank	AUM	Inception
PRFHX	T. Rowe Price Tax Free High Yield Fund	95	—	Feb 1985	FVCAX vs PRFHX
FHTFX	Federated Hermes Municipal High Yield Advtg Fd	94	—	Apr 1987	FVCAX vs FHTFX
WHYIX	Allspring High Yield Municipal Bond Fund	92	—	Jan 2013	FVCAX vs WHYIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	91	—	Sep 2015	FVCAX vs ISHYX
SRHMX	Columbia High Yield Municipal Fund	91	—	Mar 1984	FVCAX vs SRHMX

Top Performing FVCAX Alternatives (YTD)

FVCAX is at 0.85% YTD. There are 39 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 4.40%.

Symbol	Name	YTD Return	AUM	Inception
NMZ	Nuveen Municipal High Income Opportunity Fund	4.40%	—	Nov 2003	FVCAX vs NMZ
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	2.40%	—	May 2007	FVCAX vs EWHYX
NHMFX	Nuveen High Yield Municipal Bond Fund Class R6	2.16%	—	Jun 2016	FVCAX vs NHMFX
NHMRX	Nuveen High Yield Municipal Bond Fund	2.14%	—	Jun 1999	FVCAX vs NHMRX
SRHMX	Columbia High Yield Municipal Fund	2.11%	—	Mar 1984	FVCAX vs SRHMX

Lowest Volatility Alternatives to FVCAX

FVCAX has 3.25% 1-year volatility. There are 16 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.13%.

Symbol	Name	Volatility 1Y	AUM	Inception
SDHIX	Lord Abbett Short Duration High Income Municipal B...	2.13%	—	Jun 2015	FVCAX vs SDHIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	2.18%	—	Jan 2013	FVCAX vs NVHIX
RWMIX	Redwood Managed Municipal Income Fund	2.28%	—	Mar 2017	FVCAX vs RWMIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	2.36%	—	Sep 2015	FVCAX vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	2.62%	—	May 2013	FVCAX vs AHYMX

Lowest Drawdown Alternatives to FVCAX

FVCAX has a 1-year max drawdown of -2.84%. There are 19 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
FDUAX	First Eagle Short Duration High Yield Municipal Fu...	-1.71%	—	Feb 2024	FVCAX vs FDUAX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-1.79%	—	Jan 2013	FVCAX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	-1.89%	—	Sep 2015	FVCAX vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	-1.98%	—	May 2013	FVCAX vs AHYMX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	-2.08%	—	Jun 2015	FVCAX vs SDHIX

Other Mutual Funds from Franklin

The 5 most viewed Franklin mutual funds shown here include FGRAX, FFACX, TEDIX and span 5 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FGRAX	Franklin Growth Opportunities Fund Class A	Large Cap Growth Equities	8	5.01%	—	Jun 1999	FVCAX vs FGRAX
FFACX	Franklin Global Allocation Fund Class C	Global Allocation	61	7.18%	—	Aug 2003	FVCAX vs FFACX
TEDIX	Franklin Mutual Global Discovery Fund Class A	Global Equities	52	7.21%	—	Dec 1992	FVCAX vs TEDIX
FCOQX	Franklin Colorado Tax-Free Income Fund Class A	Municipal Bonds	79	0.55%	—	Sep 1987	FVCAX vs FCOQX
FRDAX	Franklin Rising Dividends Fund Advisor Class	Dividend	38	8.16%	—	—	FVCAX vs FRDAX

Often Compared With FVCAX

Investors most often compare FVCAX with AHMFX, TMNIX, FQTHX. These 12 comparison targets span 2 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
AHMFX	American High-Income Municipal Bond Fund Class F-2	High Yield Muni	83	1.26%	—	Aug 2008	FVCAX vs AHMFX
TMNIX	Counterpoint Tactical Municipal Fund	High Yield Muni	67	0.40%	—	Jun 2018	FVCAX vs TMNIX
FQTHX	Franklin Templeton SMACS: Series H	High Yield Muni	86	1.76%	—	Jun 2019	FVCAX vs FQTHX
NHMAX	Nuveen High Yield Municipal Bond Fund Class A	High Yield Muni	83	2.01%	—	Jun 1999	FVCAX vs NHMAX
STMYX	Ocean Park Tactical Municipal Fund	High Yield Muni	70	0.80%	—	Dec 2018	FVCAX vs STMYX
NMHIX	Neuberger Berman Municipal High Income Fund	High Yield Muni	—	—	—	Jun 2015	FVCAX vs NMHIX
RTHAX	Russell Investments Tax-Exempt High Yield Bond Fun...	High Yield Muni	85	1.73%	—	May 2015	FVCAX vs RTHAX
MISHX	AB Municipal Income Shares	High Yield Muni	70	0.70%	—	Aug 2010	FVCAX vs MISHX
AMHIX	American High-Income Municipal Bond Fund	High Yield Muni	81	1.15%	—	Sep 1994	FVCAX vs AMHIX
DHMBX	BNY Mellon High Yield Municipal Bond Fund	High Yield Muni	83	1.76%	—	Sep 2005	FVCAX vs DHMBX
FEHAX	First Eagle High Yield Municipal Fund Class A	High Yield Muni	52	1.76%	—	Jan 2012	FVCAX vs FEHAX
SCD	LMP Capital and Income Fund Inc.	Diversified Portfolio	31	11.13%	—	—	FVCAX vs SCD

Compare FVCAX with Any Fund or Stock

Compare FVCAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair FVCAX with funds that move differently

Franklin California High Yield Municipal Fund Advisor Class alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FVCAX.

Explore FVCAX Diversifiers

Franklin California High Yield Municipal Fund Advisor Class (FVCAX) Alternatives