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FKTIX vs. BIAEX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Performance

FKTIX vs. BIAEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Federal Tax Free Income Fund (FKTIX) and Brown Advisory Tax Exempt Bond Fund (BIAEX). The values are adjusted to include any dividend payments, if applicable.

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FKTIX vs. BIAEX - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
FKTIX
Franklin Federal Tax Free Income Fund
-0.50%4.84%3.44%6.72%-11.67%2.51%5.64%7.41%0.61%3.61%
BIAEX
Brown Advisory Tax Exempt Bond Fund
-0.48%5.50%2.08%6.43%-9.75%2.39%3.65%7.48%2.19%4.12%

Returns By Period

The year-to-date returns for both investments are quite close, with FKTIX having a -0.50% return and BIAEX slightly higher at -0.48%. Both investments have delivered pretty close results over the past 10 years, with FKTIX having a 2.03% annualized return and BIAEX not far behind at 1.97%.


FKTIX

1D
0.28%
1M
-2.29%
YTD
-0.50%
6M
1.21%
1Y
3.61%
3Y*
3.79%
5Y*
0.90%
10Y*
2.03%

BIAEX

1D
0.21%
1M
-2.20%
YTD
-0.48%
6M
1.23%
1Y
4.68%
3Y*
3.61%
5Y*
1.01%
10Y*
1.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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FKTIX vs. BIAEX - Expense Ratio Comparison

FKTIX has a 0.64% expense ratio, which is higher than BIAEX's 0.46% expense ratio.


Return for Risk

FKTIX vs. BIAEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FKTIX
FKTIX Risk / Return Rank: 2828
Overall Rank
FKTIX Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
FKTIX Sortino Ratio Rank: 2121
Sortino Ratio Rank
FKTIX Omega Ratio Rank: 4242
Omega Ratio Rank
FKTIX Calmar Ratio Rank: 2727
Calmar Ratio Rank
FKTIX Martin Ratio Rank: 2323
Martin Ratio Rank

BIAEX
BIAEX Risk / Return Rank: 6363
Overall Rank
BIAEX Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
BIAEX Sortino Ratio Rank: 6363
Sortino Ratio Rank
BIAEX Omega Ratio Rank: 8282
Omega Ratio Rank
BIAEX Calmar Ratio Rank: 5454
Calmar Ratio Rank
BIAEX Martin Ratio Rank: 5050
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FKTIX vs. BIAEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Federal Tax Free Income Fund (FKTIX) and Brown Advisory Tax Exempt Bond Fund (BIAEX). 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.


FKTIXBIAEXDifference

Sharpe ratio

Return per unit of total volatility

0.70

1.24

-0.54

Sortino ratio

Return per unit of downside risk

0.97

1.68

-0.71

Omega ratio

Gain probability vs. loss probability

1.20

1.34

-0.14

Calmar ratio

Return relative to maximum drawdown

0.87

1.41

-0.54

Martin ratio

Return relative to average drawdown

2.73

5.19

-2.46

FKTIX vs. BIAEX - Sharpe Ratio Comparison

The current FKTIX Sharpe Ratio is 0.70, which is lower than the BIAEX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FKTIX and BIAEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


FKTIXBIAEXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.70

1.24

-0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

0.30

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

0.55

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

1.12

0.48

+0.64

Correlation

The correlation between FKTIX and BIAEX is 0.81, 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

FKTIX vs. BIAEX - Dividend Comparison

FKTIX's dividend yield for the trailing twelve months is around 3.80%, more than BIAEX's 3.48% yield.


TTM20252024202320222021202020192018201720162015
FKTIX
Franklin Federal Tax Free Income Fund
3.80%4.92%3.94%3.15%3.23%2.64%2.88%3.81%3.77%3.80%3.86%3.78%
BIAEX
Brown Advisory Tax Exempt Bond Fund
3.48%3.79%3.67%3.15%2.00%2.57%2.75%3.01%3.27%2.30%0.00%0.00%

Drawdowns

FKTIX vs. BIAEX - Drawdown Comparison

The maximum FKTIX drawdown since its inception was -18.53%, which is greater than BIAEX's maximum drawdown of -13.89%. Use the drawdown chart below to compare losses from any high point for FKTIX and BIAEX.


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Drawdown Indicators


FKTIXBIAEXDifference

Max Drawdown

Largest peak-to-trough decline

-18.53%

-13.89%

-4.64%

Max Drawdown (1Y)

Largest decline over 1 year

-5.65%

-3.97%

-1.68%

Max Drawdown (5Y)

Largest decline over 5 years

-17.09%

-13.89%

-3.20%

Max Drawdown (10Y)

Largest decline over 10 years

-17.09%

-13.89%

-3.20%

Current Drawdown

Current decline from peak

-2.65%

-2.51%

-0.14%

Average Drawdown

Average peak-to-trough decline

-2.35%

-2.85%

+0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.81%

1.08%

+0.73%

Volatility

FKTIX vs. BIAEX - Volatility Comparison

Franklin Federal Tax Free Income Fund (FKTIX) has a higher volatility of 1.26% compared to Brown Advisory Tax Exempt Bond Fund (BIAEX) at 1.01%. This indicates that FKTIX's price experiences larger fluctuations and is considered to be riskier than BIAEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


FKTIXBIAEXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.26%

1.01%

+0.25%

Volatility (6M)

Calculated over the trailing 6-month period

1.92%

1.66%

+0.26%

Volatility (1Y)

Calculated over the trailing 1-year period

5.91%

4.09%

+1.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.63%

3.37%

+1.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.25%

3.58%

+0.67%