FXNCX vs. FKDNX
FXNCX (Franklin North Carolina Tax-Free Income Fund) and FKDNX (Franklin DynaTech Fund) are both mutual funds - FXNCX is a Municipal Bonds fund managed by Franklin Templeton, while FKDNX is a Large Cap Growth Equities fund actively managed by Franklin Templeton. Over the past 10 years, FXNCX returned 1.62%/yr vs 18.34%/yr for FKDNX. At a correlation of -0.01, they often move in opposite directions. FXNCX charges 0.69%/yr vs 0.77%/yr for FKDNX.
Performance
FXNCX vs. FKDNX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXNCX achieves a 2.08% return, which is significantly lower than FKDNX's 10.75% return. Over the past 10 years, FXNCX has underperformed FKDNX with an annualized return of 1.62%, while FKDNX has yielded a comparatively higher 18.34% annualized return.
FXNCX
- 1D
- 0.09%
- 1M
- 1.81%
- YTD
- 2.08%
- 6M
- 2.55%
- 1Y
- 7.71%
- 3Y*
- 4.06%
- 5Y*
- 0.68%
- 10Y*
- 1.62%
FKDNX
- 1D
- 2.86%
- 1M
- 2.10%
- YTD
- 10.75%
- 6M
- 9.49%
- 1Y
- 27.80%
- 3Y*
- 23.71%
- 5Y*
- 9.14%
- 10Y*
- 18.34%
FXNCX vs. FKDNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXNCX Franklin North Carolina Tax-Free Income Fund | 2.08% | 4.53% | 2.47% | 5.80% | -10.83% | 1.36% | 4.49% | 6.43% | 1.28% | 1.27% |
FKDNX Franklin DynaTech Fund | 10.75% | 18.59% | 30.57% | 44.42% | -40.30% | 12.53% | 57.68% | 36.36% | 2.85% | 39.29% |
Correlation
The correlation between FXNCX and FKDNX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 1987 | -0.01 |
The correlation between FXNCX and FKDNX shifts across timeframes, from -0.01 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXNCX vs. FKDNX — Risk / Return Rank
FXNCX
FKDNX
FXNCX vs. FKDNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin North Carolina Tax-Free Income Fund (FXNCX) and Franklin DynaTech Fund (FKDNX). 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.
| FXNCX | FKDNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.22 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 1.31 | +1.28 |
| Martin ratioReturn relative to average drawdown | 9.36 | 4.02 | +5.34 |
Loading charts...
Drawdowns
FXNCX vs. FKDNX - Drawdown Comparison
The maximum FXNCX drawdown since its inception was -16.12%, smaller than the maximum FKDNX drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for FXNCX and FKDNX.
Loading charts...
Drawdown Indicators
| FXNCX | FKDNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -51.63% | +35.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -20.49% | +17.49% |
Max Drawdown (3Y)Largest decline over 3 years | -7.04% | -26.23% | +19.19% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -48.28% | +32.16% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -48.28% | +32.16% |
Current DrawdownCurrent decline from peak | -0.04% | -2.41% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -11.25% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 6.67% | -5.84% |
Volatility
FXNCX vs. FKDNX - Volatility Comparison
The current volatility for Franklin North Carolina Tax-Free Income Fund (FXNCX) is 0.78%, while Franklin DynaTech Fund (FKDNX) has a volatility of 9.17%. This indicates that FXNCX experiences smaller price fluctuations and is considered to be less risky than FKDNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXNCX | FKDNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 9.17% | -8.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 17.73% | -15.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 21.92% | -18.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 26.42% | -21.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 24.73% | -20.73% |
FXNCX vs. FKDNX - Expense Ratio Comparison
FXNCX has a 0.69% expense ratio, which is lower than FKDNX's 0.77% expense ratio.
Dividends
FXNCX vs. FKDNX - Dividend Comparison
FXNCX's dividend yield for the trailing twelve months is around 3.03%, less than FKDNX's 10.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKDNX Franklin DynaTech Fund | 10.08% | 11.17% | 0.00% | 0.00% | 0.00% | 1.43% | 0.00% | 0.74% | 2.92% | 1.77% | 3.55% | 2.46% |
FXNCX Franklin North Carolina Tax-Free Income Fund | 3.03% | 3.88% | 3.31% | 2.40% | 2.37% | 2.03% | 2.40% | 3.23% | 3.12% | 3.02% | 3.53% | 3.27% |
Frequently Asked Questions
FXNCX and FKDNX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKDNX has higher volatility (9.17%) compared to FXNCX (0.78%). In terms of maximum drawdown, FXNCX dropped -16.12% vs FKDNX's -51.63%.
FXNCX currently has the higher Sharpe Ratio (2.61 vs 1.22), 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.
Find the right allocation for FXNCX and FKDNX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer