FCOQX vs. FVCAX
Compare and contrast key facts about Franklin Colorado Tax-Free Income Fund Class A (FCOQX) and Franklin California High Yield Municipal Fund Advisor Class (FVCAX).
FCOQX is a passively managed fund by Franklin that tracks the performance of the Bloomberg Municipal Bond Index. It was launched on Sep 1, 1987. FVCAX is an actively managed fund by Franklin. It was launched on May 3, 1993.
Performance
FCOQX vs. FVCAX - Performance Comparison
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FCOQX vs. FVCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCOQX Franklin Colorado Tax-Free Income Fund Class A | -0.45% | 3.34% | 2.47% | 5.62% | -10.97% | 1.52% | 4.72% | 6.41% | 0.98% |
FVCAX Franklin California High Yield Municipal Fund Advisor Class | -0.32% | 4.77% | 4.98% | 4.66% | -11.86% | 3.97% | 4.64% | 10.29% | 0.38% |
Returns By Period
In the year-to-date period, FCOQX achieves a -0.45% return, which is significantly lower than FVCAX's -0.32% return.
FCOQX
- 1D
- 0.29%
- 1M
- -1.97%
- YTD
- -0.45%
- 6M
- 1.31%
- 1Y
- 3.19%
- 3Y*
- 2.81%
- 5Y*
- 0.22%
- 10Y*
- —
FVCAX
- 1D
- 0.31%
- 1M
- -2.03%
- YTD
- -0.32%
- 6M
- 1.33%
- 1Y
- 3.40%
- 3Y*
- 4.14%
- 5Y*
- 0.94%
- 10Y*
- 2.65%
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FCOQX vs. FVCAX - Expense Ratio Comparison
FCOQX has a 0.85% expense ratio, which is higher than FVCAX's 0.55% expense ratio.
Return for Risk
FCOQX vs. FVCAX — Risk / Return Rank
FCOQX
FVCAX
FCOQX vs. FVCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Colorado Tax-Free Income Fund Class A (FCOQX) and Franklin California High Yield Municipal Fund Advisor Class (FVCAX). 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.
| FCOQX | FVCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.68 | 0.69 | 0.00 |
Sortino ratioReturn per unit of downside risk | 0.93 | 0.95 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.88 | -0.12 |
Martin ratioReturn relative to average drawdown | 2.05 | 2.56 | -0.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCOQX | FVCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.69 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.20 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.85 | -0.47 |
Correlation
The correlation between FCOQX and FVCAX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FCOQX vs. FVCAX - Dividend Comparison
FCOQX's dividend yield for the trailing twelve months is around 2.92%, less than FVCAX's 4.45% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCOQX Franklin Colorado Tax-Free Income Fund Class A | 2.92% | 3.13% | 3.01% | 2.33% | 2.59% | 2.09% | 2.37% | 2.95% | 1.06% | 0.00% | 0.00% | 0.00% |
FVCAX Franklin California High Yield Municipal Fund Advisor Class | 4.45% | 5.82% | 4.87% | 3.46% | 3.65% | 3.10% | 3.30% | 4.06% | 3.85% | 3.45% | 3.86% | 4.06% |
Drawdowns
FCOQX vs. FVCAX - Drawdown Comparison
The maximum FCOQX drawdown since its inception was -15.80%, smaller than the maximum FVCAX drawdown of -24.06%. Use the drawdown chart below to compare losses from any high point for FCOQX and FVCAX.
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Drawdown Indicators
| FCOQX | FVCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -24.06% | +8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.32% | -5.30% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.80% | -17.59% | +1.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.59% | — |
Current DrawdownCurrent decline from peak | -2.25% | -2.33% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -3.59% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.81% | +0.16% |
Volatility
FCOQX vs. FVCAX - Volatility Comparison
The current volatility for Franklin Colorado Tax-Free Income Fund Class A (FCOQX) is 1.13%, while Franklin California High Yield Municipal Fund Advisor Class (FVCAX) has a volatility of 1.19%. This indicates that FCOQX experiences smaller price fluctuations and is considered to be less risky than FVCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCOQX | FVCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.19% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.74% | 1.91% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.27% | 5.51% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 4.66% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.43% | 4.82% | -0.39% |