EMO vs. FKITX
EMO (ClearBridge Energy Midstream Opportunity Fund) and FKITX (Franklin Federal Intermediate-Term Tax-Free Income Fund) are both mutual funds - EMO is a MLPs fund actively managed by Franklin Templeton, while FKITX is a Municipal Bonds fund managed by Franklin Templeton. Over the past 10 years, EMO returned 7.75%/yr vs 1.67%/yr for FKITX. Their -0.03 correlation means they have often moved in opposite directions in the past. EMO charges 13.90%/yr vs 0.56%/yr for FKITX.
Performance
EMO vs. FKITX - Performance Comparison
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Returns By Period
In the year-to-date period, EMO achieves a 21.52% return, which is significantly higher than FKITX's 0.40% return. Over the past 10 years, EMO has outperformed FKITX with an annualized return of 7.75%, while FKITX has yielded a comparatively lower 1.67% annualized return.
EMO
- 1D
- 1.14%
- 1M
- 5.46%
- 6M
- 10.79%
- YTD
- 21.52%
- 1Y
- 21.50%
- 3Y*
- 28.83%
- 5Y*
- 29.82%
- 10Y*
- 7.75%
- ALL TIME*
- 4.29%
FKITX
- 1D
- -0.18%
- 1M
- -1.66%
- 6M
- -0.42%
- YTD
- 0.40%
- 1Y
- 4.44%
- 3Y*
- 4.03%
- 5Y*
- 1.10%
- 10Y*
- 1.67%
- ALL TIME*
- 3.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.85M | $2.08M | $2.48M | |
| $0.00 | $0.00 | $0.00 |
EMO vs. FKITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMO ClearBridge Energy Midstream Opportunity Fund | 21.52% | 7.38% | 44.45% | 31.76% | 40.13% | 74.70% | -64.47% | 19.60% | -25.73% | 0.07% |
FKITX Franklin Federal Intermediate-Term Tax-Free Income Fund | 0.40% | 5.85% | 3.13% | 5.38% | -8.00% | 0.79% | 4.32% | 5.26% | 0.69% | 3.21% |
Correlation
The correlation between EMO and FKITX is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2011 | -0.03 |
The correlation between EMO and FKITX shifts across timeframes, from -0.18 (1 year) to 0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMO vs. FKITX — Risk / Return Rank
EMO
FKITX
EMO vs. FKITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearBridge Energy Midstream Opportunity Fund (EMO) and Franklin Federal Intermediate-Term Tax-Free Income Fund (FKITX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMO | FKITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.50 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.89 | 0.00 |
| Martin ratioReturn relative to average drawdown | 3.92 | 6.18 | -2.27 |
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Drawdowns
EMO vs. FKITX - Drawdown Comparison
The maximum EMO drawdown since its inception was -95.06%, which is greater than FKITX's maximum drawdown of -12.77%. Use the drawdown chart below to compare losses from any high point for EMO and FKITX.
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Drawdown Indicators
| EMO | FKITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.06% | -12.77% | -82.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -2.77% | -8.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -3.91% | -14.90% |
Max Drawdown (5Y)Largest decline over 5 years | -28.59% | -12.77% | -15.82% |
Max Drawdown (10Y)Largest decline over 10 years | -93.02% | -12.77% | -80.25% |
Current DrawdownCurrent decline from peak | -2.16% | -1.71% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -31.67% | -1.57% | -30.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 0.84% | +4.40% |
Volatility
EMO vs. FKITX - Volatility Comparison
ClearBridge Energy Midstream Opportunity Fund (EMO) has a higher volatility of 5.06% compared to Franklin Federal Intermediate-Term Tax-Free Income Fund (FKITX) at 0.79%. This indicates that EMO's price experiences larger fluctuations and is considered to be riskier than FKITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMO | FKITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 0.79% | +4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 2.01% | +10.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 2.49% | +13.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.05% | 3.34% | +22.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.13% | 3.29% | +37.84% |
EMO vs. FKITX - Expense Ratio Comparison
EMO has a 13.90% expense ratio, which is higher than FKITX's 0.56% expense ratio.
Dividends
EMO vs. FKITX - Dividend Comparison
EMO's dividend yield for the trailing twelve months is around 8.35%, more than FKITX's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMO ClearBridge Energy Midstream Opportunity Fund | 8.35% | 9.41% | 7.16% | 6.79% | 6.71% | 6.71% | 15.82% | 10.94% | 16.39% | 10.85% | 9.76% | 11.88% |
FKITX Franklin Federal Intermediate-Term Tax-Free Income Fund | 3.21% | 4.29% | 3.52% | 2.49% | 2.30% | 2.10% | 2.24% | 3.03% | 2.68% | 2.34% | 2.54% | 2.50% |
Frequently Asked Questions
EMO and FKITX have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMO has higher volatility (5.06%) compared to FKITX (0.79%). In terms of maximum drawdown, EMO dropped -95.06% vs FKITX's -12.77%.
FKITX currently has the higher Sharpe Ratio (2.10 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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