FTTMX vs. FKUTX
FTTMX (Franklin Michigan Tax-Free Income Fund) and FKUTX (Franklin Utilities Fund) are both mutual funds - FTTMX is a Municipal Bonds fund managed by Franklin Templeton, while FKUTX is a Utilities Equities fund managed by Franklin Templeton. Over the past 10 years, FTTMX returned 1.81%/yr vs 9.56%/yr for FKUTX. At a 0.13 correlation, their price movements are largely independent. FTTMX charges 0.68%/yr vs 0.72%/yr for FKUTX.
Performance
FTTMX vs. FKUTX - Performance Comparison
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Returns By Period
In the year-to-date period, FTTMX achieves a 2.01% return, which is significantly lower than FKUTX's 7.77% return. Over the past 10 years, FTTMX has underperformed FKUTX with an annualized return of 1.81%, while FKUTX has yielded a comparatively higher 9.56% annualized return.
FTTMX
- 1D
- 0.00%
- 1M
- 1.93%
- YTD
- 2.01%
- 6M
- 2.41%
- 1Y
- 6.91%
- 3Y*
- 4.06%
- 5Y*
- 0.71%
- 10Y*
- 1.81%
FKUTX
- 1D
- 0.16%
- 1M
- -1.50%
- YTD
- 7.77%
- 6M
- 7.95%
- 1Y
- 15.43%
- 3Y*
- 16.27%
- 5Y*
- 11.57%
- 10Y*
- 9.56%
FTTMX vs. FKUTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTTMX Franklin Michigan Tax-Free Income Fund | 2.01% | 4.37% | 2.68% | 5.59% | -10.64% | 1.08% | 5.20% | 7.75% | 0.85% | 3.03% |
FKUTX Franklin Utilities Fund | 7.77% | 14.59% | 27.18% | -4.91% | 1.67% | 18.00% | -1.87% | 27.28% | 2.54% | 9.58% |
Correlation
The correlation between FTTMX and FKUTX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 1985 | 0.13 |
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Return for Risk
FTTMX vs. FKUTX — Risk / Return Rank
FTTMX
FKUTX
FTTMX vs. FKUTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Michigan Tax-Free Income Fund (FTTMX) and Franklin Utilities Fund (FKUTX). 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.
| FTTMX | FKUTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.21 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.09 | +0.71 |
| Martin ratioReturn relative to average drawdown | 9.67 | 5.02 | +4.65 |
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Drawdowns
FTTMX vs. FKUTX - Drawdown Comparison
The maximum FTTMX drawdown since its inception was -18.79%, smaller than the maximum FKUTX drawdown of -43.59%. Use the drawdown chart below to compare losses from any high point for FTTMX and FKUTX.
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Drawdown Indicators
| FTTMX | FKUTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.79% | -43.59% | +24.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -8.10% | +5.55% |
Max Drawdown (3Y)Largest decline over 3 years | -6.23% | -16.35% | +10.12% |
Max Drawdown (5Y)Largest decline over 5 years | -15.65% | -22.53% | +6.88% |
Max Drawdown (10Y)Largest decline over 10 years | -15.65% | -36.56% | +20.91% |
Current DrawdownCurrent decline from peak | 0.00% | -4.75% | +4.75% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -7.00% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 3.36% | -2.62% |
Volatility
FTTMX vs. FKUTX - Volatility Comparison
The current volatility for Franklin Michigan Tax-Free Income Fund (FTTMX) is 0.83%, while Franklin Utilities Fund (FKUTX) has a volatility of 5.08%. This indicates that FTTMX experiences smaller price fluctuations and is considered to be less risky than FKUTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTTMX | FKUTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 5.08% | -4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.20% | 11.31% | -9.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 14.08% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.11% | 16.90% | -12.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.95% | 18.86% | -14.91% |
FTTMX vs. FKUTX - Expense Ratio Comparison
FTTMX has a 0.68% expense ratio, which is lower than FKUTX's 0.72% expense ratio.
Dividends
FTTMX vs. FKUTX - Dividend Comparison
FTTMX's dividend yield for the trailing twelve months is around 3.34%, less than FKUTX's 7.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKUTX Franklin Utilities Fund | 7.18% | 7.70% | 8.66% | 6.47% | 3.73% | 4.96% | 9.88% | 4.29% | 5.83% | 3.55% | 2.76% | 6.14% |
FTTMX Franklin Michigan Tax-Free Income Fund | 3.34% | 4.31% | 3.69% | 2.78% | 2.84% | 2.34% | 2.50% | 3.24% | 3.13% | 2.97% | 3.59% | 3.23% |
Frequently Asked Questions
FTTMX and FKUTX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKUTX has higher volatility (5.08%) compared to FTTMX (0.83%). In terms of maximum drawdown, FTTMX dropped -18.79% vs FKUTX's -43.59%.
FTTMX currently has the higher Sharpe Ratio (2.46 vs 1.20), 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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