FRHIX vs. EMO
Compare and contrast key facts about Franklin High Yield Tax Free Income Fund (FRHIX) and ClearBridge Energy Midstream Opportunity Fund (EMO).
FRHIX is managed by Franklin Templeton. It was launched on Mar 17, 1986. EMO is an actively managed fund by Franklin Templeton. It was launched on Jun 10, 2011.
Performance
FRHIX vs. EMO - Performance Comparison
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FRHIX vs. EMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRHIX Franklin High Yield Tax Free Income Fund | -0.18% | 5.33% | 7.28% | 6.01% | -13.96% | 4.89% | 5.87% | 8.35% | 1.96% | 3.40% |
EMO ClearBridge Energy Midstream Opportunity Fund | 16.71% | 7.38% | 44.45% | 31.76% | 40.13% | 74.70% | -64.47% | 19.60% | -25.73% | 0.07% |
Returns By Period
In the year-to-date period, FRHIX achieves a -0.18% return, which is significantly lower than EMO's 16.71% return. Over the past 10 years, FRHIX has underperformed EMO with an annualized return of 2.61%, while EMO has yielded a comparatively higher 9.14% annualized return.
FRHIX
- 1D
- 0.34%
- 1M
- -2.22%
- YTD
- -0.18%
- 6M
- 1.71%
- 1Y
- 4.02%
- 3Y*
- 5.36%
- 5Y*
- 1.39%
- 10Y*
- 2.61%
EMO
- 1D
- -3.45%
- 1M
- -3.66%
- YTD
- 16.71%
- 6M
- 19.20%
- 1Y
- 14.50%
- 3Y*
- 33.42%
- 5Y*
- 32.26%
- 10Y*
- 9.14%
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FRHIX vs. EMO - Expense Ratio Comparison
FRHIX has a 0.65% expense ratio, which is lower than EMO's 13.90% expense ratio.
Return for Risk
FRHIX vs. EMO — Risk / Return Rank
FRHIX
EMO
FRHIX vs. EMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin High Yield Tax Free Income Fund (FRHIX) and ClearBridge Energy Midstream Opportunity Fund (EMO). 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.
| FRHIX | EMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.67 | +0.05 |
Sortino ratioReturn per unit of downside risk | 0.99 | 1.00 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.81 | +0.02 |
Martin ratioReturn relative to average drawdown | 2.63 | 2.44 | +0.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRHIX | EMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.67 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 1.21 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.22 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.11 | +1.15 |
Correlation
The correlation between FRHIX and EMO is -0.02. 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.
Dividends
FRHIX vs. EMO - Dividend Comparison
FRHIX's dividend yield for the trailing twelve months is around 4.70%, less than EMO's 8.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRHIX Franklin High Yield Tax Free Income Fund | 4.70% | 5.79% | 5.32% | 4.16% | 4.27% | 3.61% | 3.83% | 4.99% | 4.46% | 4.06% | 4.42% | 4.27% |
EMO ClearBridge Energy Midstream Opportunity Fund | 8.40% | 9.41% | 7.16% | 6.79% | 6.71% | 6.71% | 15.82% | 10.94% | 16.39% | 10.85% | 9.76% | 11.88% |
Drawdowns
FRHIX vs. EMO - Drawdown Comparison
The maximum FRHIX drawdown since its inception was -21.54%, smaller than the maximum EMO drawdown of -95.06%. Use the drawdown chart below to compare losses from any high point for FRHIX and EMO.
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Drawdown Indicators
| FRHIX | EMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.54% | -95.06% | +73.52% |
Max Drawdown (1Y)Largest decline over 1 year | -6.03% | -18.81% | +12.78% |
Max Drawdown (5Y)Largest decline over 5 years | -19.01% | -28.59% | +9.58% |
Max Drawdown (10Y)Largest decline over 10 years | -19.01% | -93.02% | +74.01% |
Current DrawdownCurrent decline from peak | -2.65% | -5.90% | +3.25% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -32.26% | +29.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 6.23% | -4.33% |
Volatility
FRHIX vs. EMO - Volatility Comparison
The current volatility for Franklin High Yield Tax Free Income Fund (FRHIX) is 1.29%, while ClearBridge Energy Midstream Opportunity Fund (EMO) has a volatility of 5.53%. This indicates that FRHIX experiences smaller price fluctuations and is considered to be less risky than EMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRHIX | EMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 5.53% | -4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 11.68% | -9.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 21.67% | -15.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 26.82% | -21.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 41.42% | -36.78% |