FKTFX vs. SPY
Compare and contrast key facts about Franklin California Tax Free Income Fund (FKTFX) and SPDR S&P 500 ETF (SPY).
FKTFX is managed by Franklin Templeton Investments. It was launched on Jan 30, 1977. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FKTFX or SPY.
Key characteristics
| FKTFX | SPY | |
|---|---|---|
| YTD Return | 3.33% | 18.86% |
| 1Y Return | 9.55% | 28.13% |
| 3Y Return (Ann) | -0.32% | 9.87% |
| 5Y Return (Ann) | 1.37% | 15.23% |
| 10Y Return (Ann) | 2.82% | 12.80% |
| Sharpe Ratio | 2.23 | 2.21 |
| Daily Std Dev | 4.29% | 12.60% |
| Max Drawdown | -16.23% | -55.19% |
| Current Drawdown | -1.74% | -0.61% |
Correlation
The correlation between FKTFX and SPY is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
FKTFX vs. SPY - Performance Comparison
In the year-to-date period, FKTFX achieves a 3.33% return, which is significantly lower than SPY's 18.86% return. Over the past 10 years, FKTFX has underperformed SPY with an annualized return of 2.82%, while SPY has yielded a comparatively higher 12.80% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FKTFX vs. SPY - Expense Ratio Comparison
FKTFX has a 0.62% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
FKTFX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin California Tax Free Income Fund (FKTFX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
FKTFX vs. SPY - Dividend Comparison
FKTFX's dividend yield for the trailing twelve months is around 3.55%, more than SPY's 0.94% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKTFX Franklin California Tax Free Income Fund | 3.55% | 3.53% | 3.28% | 2.68% | 2.91% | 3.35% | 3.58% | 3.58% | 3.65% | 3.93% | 4.13% | 4.55% |
SPY SPDR S&P 500 ETF | 0.94% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
FKTFX vs. SPY - Drawdown Comparison
The maximum FKTFX drawdown since its inception was -16.23%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FKTFX and SPY. For additional features, visit the drawdowns tool.
Volatility
FKTFX vs. SPY - Volatility Comparison
The current volatility for Franklin California Tax Free Income Fund (FKTFX) is 0.50%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.84%. This indicates that FKTFX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.