FKTFX vs. MAMTX
FKTFX (Franklin California Tax Free Income Fund) and MAMTX (Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust) are both Municipal Bonds funds. Over the past 10 years, FKTFX returned 2.02%/yr vs 1.89%/yr for MAMTX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. FKTFX charges 0.62%/yr vs 0.55%/yr for MAMTX.
Performance
FKTFX vs. MAMTX - Performance Comparison
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Returns By Period
In the year-to-date period, FKTFX achieves a 0.55% return, which is significantly lower than MAMTX's 1.12% return. Over the past 10 years, FKTFX has outperformed MAMTX with an annualized return of 2.02%, while MAMTX has yielded a comparatively lower 1.89% annualized return.
FKTFX
- 1D
- -0.30%
- 1M
- -2.20%
- 6M
- -0.07%
- YTD
- 0.55%
- 1Y
- 5.76%
- 3Y*
- 3.69%
- 5Y*
- 0.47%
- 10Y*
- 2.02%
- ALL TIME*
- 3.36%
MAMTX
- 1D
- -0.29%
- 1M
- -2.00%
- 6M
- 0.58%
- YTD
- 1.12%
- 1Y
- 5.95%
- 3Y*
- 4.16%
- 5Y*
- 0.22%
- 10Y*
- 1.89%
- ALL TIME*
- 4.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FKTFX vs. MAMTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FKTFX Franklin California Tax Free Income Fund | 0.55% | 4.38% | 2.78% | 6.25% | -10.31% | 1.80% | 5.29% | 9.73% | 0.31% | 6.08% |
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 1.12% | 3.97% | 3.90% | 4.89% | -12.11% | 5.84% | 0.58% | 6.81% | 1.27% | 8.05% |
Correlation
The correlation between FKTFX and MAMTX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 1988 | 0.62 |
The correlation between FKTFX and MAMTX shifts across timeframes, from 0.62 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FKTFX vs. MAMTX — Risk / Return Rank
FKTFX
MAMTX
FKTFX vs. MAMTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin California Tax Free Income Fund (FKTFX) and Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX). 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.
| FKTFX | MAMTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.52 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.41 | -0.28 |
| Martin ratioReturn relative to average drawdown | 6.81 | 8.41 | -1.60 |
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Drawdowns
FKTFX vs. MAMTX - Drawdown Comparison
The maximum FKTFX drawdown since its inception was -31.16%, which is greater than MAMTX's maximum drawdown of -16.83%. Use the drawdown chart below to compare losses from any high point for FKTFX and MAMTX.
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Drawdown Indicators
| FKTFX | MAMTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -16.83% | -14.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -2.85% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -5.49% | -5.71% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -16.11% | -16.83% | +0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -16.21% | -16.83% | +0.62% |
Current DrawdownCurrent decline from peak | -2.20% | -2.09% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -6.08% | -2.05% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.82% | +0.18% |
Volatility
FKTFX vs. MAMTX - Volatility Comparison
Franklin California Tax Free Income Fund (FKTFX) has a higher volatility of 1.06% compared to Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) at 0.91%. This indicates that FKTFX's price experiences larger fluctuations and is considered to be riskier than MAMTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FKTFX | MAMTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.91% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 2.44% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 3.11% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.53% | 4.79% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 4.85% | -0.08% |
FKTFX vs. MAMTX - Expense Ratio Comparison
FKTFX has a 0.62% expense ratio, which is higher than MAMTX's 0.55% expense ratio.
Dividends
FKTFX vs. MAMTX - Dividend Comparison
FKTFX's dividend yield for the trailing twelve months is around 3.52%, less than MAMTX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKTFX Franklin California Tax Free Income Fund | 3.52% | 4.96% | 4.22% | 3.20% | 3.29% | 2.68% | 2.91% | 3.85% | 3.58% | 3.58% | 3.65% | 3.93% |
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 3.64% | 5.00% | 4.23% | 2.70% | 1.96% | 2.00% | 2.39% | 2.83% | 4.74% | 2.89% | 3.91% | 2.84% |
Frequently Asked Questions
FKTFX and MAMTX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKTFX has higher volatility (1.06%) compared to MAMTX (0.91%). In terms of maximum drawdown, FKTFX dropped -31.16% vs MAMTX's -16.83%.
MAMTX currently has the higher Sharpe Ratio (2.21 vs 2.07), 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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