FRALX vs. MELI
FRALX (Franklin Alabama Tax Free Income Fund) is Municipal Bonds fund managed by Franklin Templeton, while MELI (MercadoLibre, Inc.) is a stock. Over the past 10 years, FRALX returned 1.70%/yr vs 28.27%/yr for MELI. At a correlation of -0.05, they often move in opposite directions.
Performance
FRALX vs. MELI - Performance Comparison
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Returns By Period
In the year-to-date period, FRALX achieves a 1.71% return, which is significantly higher than MELI's -21.38% return. Over the past 10 years, FRALX has underperformed MELI with an annualized return of 1.70%, while MELI has yielded a comparatively higher 28.27% annualized return.
FRALX
- 1D
- -0.10%
- 1M
- 1.76%
- YTD
- 1.71%
- 6M
- 2.08%
- 1Y
- 6.91%
- 3Y*
- 3.77%
- 5Y*
- 0.62%
- 10Y*
- 1.70%
MELI
- 1D
- -0.36%
- 1M
- -4.85%
- YTD
- -21.38%
- 6M
- -20.62%
- 1Y
- -35.44%
- 3Y*
- 8.89%
- 5Y*
- 0.53%
- 10Y*
- 28.27%
FRALX vs. MELI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRALX Franklin Alabama Tax Free Income Fund | 1.71% | 4.16% | 2.04% | 6.14% | -10.72% | 2.14% | 4.73% | 6.70% | 0.56% | 2.69% |
MELI MercadoLibre, Inc. | -21.38% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -6.93% | 101.99% |
Correlation
The correlation between FRALX and MELI is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | -0.05 |
The correlation between FRALX and MELI shifts across timeframes, from -0.05 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FRALX vs. MELI — Risk / Return Rank
FRALX
MELI
FRALX vs. MELI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Alabama Tax Free Income Fund (FRALX) and MercadoLibre, Inc. (MELI). 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.
| FRALX | MELI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.39 | ||
| Sortino ratioReturn per unit of downside risk | +5.09 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 0.85 | +0.78 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | -0.87 | +3.21 |
| Martin ratioReturn relative to average drawdown | 8.15 | -1.48 | +9.63 |
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Drawdowns
FRALX vs. MELI - Drawdown Comparison
The maximum FRALX drawdown since its inception was -15.97%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for FRALX and MELI.
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Drawdown Indicators
| FRALX | MELI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.97% | -89.49% | +73.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -40.82% | +37.81% |
Max Drawdown (3Y)Largest decline over 3 years | -7.59% | -40.82% | +33.23% |
Max Drawdown (5Y)Largest decline over 5 years | -15.97% | -68.64% | +52.67% |
Max Drawdown (10Y)Largest decline over 10 years | -15.97% | -69.12% | +53.15% |
Current DrawdownCurrent decline from peak | -0.27% | -39.41% | +39.14% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -23.60% | +21.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 23.96% | -23.10% |
Volatility
FRALX vs. MELI - Volatility Comparison
The current volatility for Franklin Alabama Tax Free Income Fund (FRALX) is 0.78%, while MercadoLibre, Inc. (MELI) has a volatility of 9.09%. This indicates that FRALX experiences smaller price fluctuations and is considered to be less risky than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRALX | MELI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 9.09% | -8.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 29.93% | -27.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 39.61% | -36.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 49.70% | -45.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.95% | 48.90% | -44.95% |
Dividends
FRALX vs. MELI - Dividend Comparison
FRALX's dividend yield for the trailing twelve months is around 3.04%, while MELI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRALX Franklin Alabama Tax Free Income Fund | 3.04% | 3.91% | 3.21% | 2.32% | 2.48% | 2.12% | 2.64% | 3.26% | 3.13% | 3.02% | 3.47% | 3.79% |
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
Frequently Asked Questions
FRALX and MELI have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MELI has higher volatility (9.09%) compared to FRALX (0.78%). In terms of maximum drawdown, FRALX dropped -15.97% vs MELI's -89.49%.
FRALX currently has the higher Sharpe Ratio (2.49 vs -0.90), 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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