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 1.51%/yr vs 27.12%/yr for MELI. Their -0.04 correlation means they have often moved in opposite directions in the past.
Performance
FRALX vs. MELI - Performance Comparison
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Returns By Period
In the year-to-date period, FRALX achieves a 0.37% return, which is significantly higher than MELI's -5.73% return. Over the past 10 years, FRALX has underperformed MELI with an annualized return of 1.51%, while MELI has yielded a comparatively higher 27.12% annualized return.
FRALX
- 1D
- -0.30%
- 1M
- -2.15%
- 6M
- 0.01%
- YTD
- 0.37%
- 1Y
- 5.40%
- 3Y*
- 3.23%
- 5Y*
- 0.12%
- 10Y*
- 1.51%
- ALL TIME*
- 4.41%
MELI
- 1D
- 1.11%
- 1M
- 7.68%
- 6M
- -11.57%
- YTD
- -5.73%
- 1Y
- -20.08%
- 3Y*
- 13.57%
- 5Y*
- 3.88%
- 10Y*
- 27.12%
- ALL TIME*
- 26.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $616.07M | $646.94M | $910.71M |
FRALX vs. MELI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRALX Franklin Alabama Tax Free Income Fund | 0.37% | 4.16% | 2.04% | 6.14% | -10.72% | 2.14% | 4.73% | 6.70% | 0.56% | 2.69% |
MELI MercadoLibre, Inc. | -5.73% | 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 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | -0.04 |
The correlation between FRALX and MELI shifts across timeframes, from -0.04 (all time) to 0.12 (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 | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.94 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | -0.52 | +2.60 |
| Martin ratioReturn relative to average drawdown | 6.97 | -0.86 | +7.83 |
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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% | -38.40% | +35.39% |
Max Drawdown (3Y)Largest decline over 3 years | -6.21% | -40.82% | +34.61% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -68.64% | +52.74% |
Max Drawdown (10Y)Largest decline over 10 years | -15.97% | -69.12% | +53.15% |
Current DrawdownCurrent decline from peak | -2.15% | -27.35% | +25.20% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -23.65% | +21.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 23.30% | -22.41% |
Volatility
FRALX vs. MELI - Volatility Comparison
The current volatility for Franklin Alabama Tax Free Income Fund (FRALX) is 0.96%, while MercadoLibre, Inc. (MELI) has a volatility of 5.72%. 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 | 0.96% | 5.72% | -4.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 28.43% | -26.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 39.90% | -36.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 49.70% | -45.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 48.90% | -44.94% |
Dividends
FRALX vs. MELI - Dividend Comparison
FRALX's dividend yield for the trailing twelve months is around 2.86%, 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 | 2.86% | 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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MELI has higher volatility (5.72%) compared to FRALX (0.96%). In terms of maximum drawdown, FRALX dropped -15.97% vs MELI's -89.49%.
FRALX currently has the higher Sharpe Ratio (2.13 vs -0.51), 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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