FRHIX vs. MISHX
Compare and contrast key facts about Franklin High Yield Tax Free Income Fund (FRHIX) and AB Municipal Income Shares (MISHX).
FRHIX is managed by Franklin Templeton. It was launched on Mar 17, 1986. MISHX is managed by AllianceBernstein. It was launched on Aug 31, 2010.
Performance
FRHIX vs. MISHX - Performance Comparison
Loading graphics...
FRHIX vs. MISHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRHIX Franklin High Yield Tax Free Income Fund | -0.52% | 5.33% | 7.28% | 6.01% | -13.96% | 4.89% | 5.87% | 8.35% | 1.96% | 3.40% |
MISHX AB Municipal Income Shares | -0.64% | 6.41% | 5.29% | 6.24% | -12.77% | 6.81% | 6.22% | 11.52% | 0.80% | 9.59% |
Returns By Period
In the year-to-date period, FRHIX achieves a -0.52% return, which is significantly higher than MISHX's -0.64% return. Over the past 10 years, FRHIX has underperformed MISHX with an annualized return of 2.57%, while MISHX has yielded a comparatively higher 3.64% annualized return.
FRHIX
- 1D
- 0.23%
- 1M
- -2.99%
- YTD
- -0.52%
- 6M
- 1.36%
- 1Y
- 4.02%
- 3Y*
- 5.24%
- 5Y*
- 1.34%
- 10Y*
- 2.57%
MISHX
- 1D
- 0.27%
- 1M
- -2.83%
- YTD
- -0.64%
- 6M
- 0.75%
- 1Y
- 4.02%
- 3Y*
- 4.79%
- 5Y*
- 1.66%
- 10Y*
- 3.64%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FRHIX vs. MISHX - Expense Ratio Comparison
FRHIX has a 0.65% expense ratio, which is higher than MISHX's 0.00% expense ratio.
Return for Risk
FRHIX vs. MISHX — Risk / Return Rank
FRHIX
MISHX
FRHIX vs. MISHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin High Yield Tax Free Income Fund (FRHIX) and AB Municipal Income Shares (MISHX). 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 | MISHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.77 | 0.89 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.05 | 1.22 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.00 | -0.17 |
Martin ratioReturn relative to average drawdown | 2.64 | 3.25 | -0.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FRHIX | MISHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.89 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.34 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.71 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.90 | +0.36 |
Correlation
The correlation between FRHIX and MISHX is 0.85, 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
FRHIX vs. MISHX - Dividend Comparison
FRHIX's dividend yield for the trailing twelve months is around 4.71%, less than MISHX's 4.85% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRHIX Franklin High Yield Tax Free Income Fund | 4.71% | 5.79% | 5.32% | 4.16% | 4.27% | 3.61% | 3.83% | 4.99% | 4.46% | 4.06% | 4.42% | 4.27% |
MISHX AB Municipal Income Shares | 4.85% | 6.23% | 4.80% | 3.23% | 3.75% | 2.77% | 3.56% | 3.98% | 3.77% | 3.78% | 4.25% | 4.38% |
Drawdowns
FRHIX vs. MISHX - Drawdown Comparison
The maximum FRHIX drawdown since its inception was -21.54%, which is greater than MISHX's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for FRHIX and MISHX.
Loading graphics...
Drawdown Indicators
| FRHIX | MISHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.54% | -19.03% | -2.51% |
Max Drawdown (1Y)Largest decline over 1 year | -6.03% | -5.34% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -19.01% | -18.20% | -0.81% |
Max Drawdown (10Y)Largest decline over 10 years | -19.01% | -19.03% | +0.02% |
Current DrawdownCurrent decline from peak | -2.99% | -2.83% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -3.44% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.65% | +0.25% |
Volatility
FRHIX vs. MISHX - Volatility Comparison
Franklin High Yield Tax Free Income Fund (FRHIX) and AB Municipal Income Shares (MISHX) have volatilities of 1.25% and 1.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| FRHIX | MISHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.22% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.10% | 1.99% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 5.64% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 4.95% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 5.17% | -0.53% |