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FAFTX Franklin Federal Tax Free Income Adv

  • Fund
  • FAFTX
  • Price as of: Mar 22, 2019
  • $11.78
  • + $0.04
  • + 0.34%
  • Category
  • National Munis

FAFTX - Profile

Vitals

  • YTD Return 1.3%
  • 3 Yr Annualized Return -1.7%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $10.5 B
  • Holdings in Top 10 5.9%

52 WEEK LOW AND HIGH

$11.78
$11.42
$11.78

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.53%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 16.46%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.76%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Franklin Federal Tax Free Income Fund
  • Fund Family Name Franklin Templeton Investments
  • Inception Date Mar 20, 2002
  • Shares Outstanding 100862325
  • Share Class Adv
  • Currency USD
  • Domiciled Country United States
  • Manager Sheila Amoroso

Fund Description

The fund invests at least 80% of its total assets in investment grade municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax. Although the fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of its total assets may be in securities that pay interest that may be subject to the federal alternative minimum tax and, although not anticipated, in securities that pay taxable interest.

FAFTX - Performance

Return Ranking - Trailing

Period FAFTX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.3% -13.2% 99.4% 42.56% 3
1 Yr 0.3% -5.8% 10.7% 61.89% 5
3 Yr -1.7% * -4.5% 7.0% 72.51% 5
5 Yr -0.5% * -1.7% 5.8% 68.01% 5
10 Yr 0.7% * -0.2% 8.7% 47.19% 3

* Annualized


Return Ranking - Calendar

Period FAFTX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -3.0% -5.3% 3.8% 57.43% 5
2017 -0.2% -5.6% 7.2% 61.88% 5
2016 -3.0% -8.5% 8.8% 48.38% 4
2015 -1.4% -10.9% 8.6% 57.46% 5
2014 6.9% -9.8% 12.0% 11.55% 1

Total Return Ranking - Trailing

Period FAFTX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.3% -13.2% 99.4% 42.39% 3
1 Yr 0.3% -8.9% 8.9% 57.65% 4
3 Yr -0.9% * -5.4% 7.0% 59.79% 4
5 Yr 1.8% * -1.5% 5.8% 10.66% 1
10 Yr 5.2% * -0.2% 8.7% 0.73% 1

* Annualized


Total Return Ranking - Calendar

Period FAFTX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -3.0% -5.3% 3.8% 58.11% 5
2017 -0.2% -5.6% 6.9% 64.27% 5
2016 0.6% -8.2% 9.3% 6.67% 1
2015 2.7% -10.3% 8.6% 6.17% 1
2014 12.6% -9.8% 17.0% 0.71% 1

NAV & Total Return History

FAFTX - Holdings

Filings data as of: Feb 28, 2019

Concentration Analysis

FAFTX Category Low Category High FAFTX % Rank Quintile
Net Assets 10.5 B 491 K 63.3 B 1.29% 1
Number of Holdings 831 1 8026 6.45% 1
Net Assets in Top 10 618 M -233 M 1.76 B 1.61% 1
Weighting of Top 10 5.9% 0.0% 100.0% 37.10% 5

Top 10 Holdings

  1. NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% 0.80%
  2. NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% 0.65%
  3. NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 5.25% 0.63%
  4. ST LUCIE CNTY FLA POLLUTN CTL REV 1.72% 0.62%
  5. CALIFORNIA ST 6% 0.62%
  6. DISTRICT COLUMBIA 5% 0.55%
  7. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5% 0.53%
  8. NORTH TEX TWY AUTH REV 5% 0.51%
  9. CALIFORNIA ST 5.25% 0.50%
  10. LOS ANGELES CALIF DEPT ARPTS ARPT REV 5% 0.50%

Asset Allocation

Weighting Category Low Category High FAFTX % Rank Quintile
Bonds
98.94% 0.00% 202.21% 8.53% 2
Cash
1.06% -110.85% 100.00% 23.39% 4
Stocks
0.00% 0.00% 0.32% 0.81% 4
Preferred Stocks
0.00% 0.00% 9.45% 0.81% 4
Other
0.00% -2.77% 28.55% 5.48% 4
Convertible Bonds
0.00% 0.00% 2.37% 0.81% 4

Bond Sector Breakdown

Weighting Category Low Category High FAFTX % Rank Quintile
Municipal
98.94% 0.00% 116.34% 9.68% 2
Cash & Equivalents
1.06% -110.85% 100.00% 23.23% 4
Derivative
0.00% -5.91% 0.91% 0.65% 4
Securitized
0.00% 0.00% 45.91% 2.42% 4
Corporate
0.00% 0.00% 41.10% 5.32% 5
Government
0.00% -18.10% 117.34% 4.52% 4

Bond Geographic Breakdown

Weighting Category Low Category High FAFTX % Rank Quintile
US
98.72% 0.00% 202.21% 9.35% 2
Non US
0.22% 0.00% 28.67% 11.29% 2

FAFTX - Expenses

Operational Fees

FAFTX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.53% 0.08% 4.80% 21.74% 1
Management Fee 0.44% 0.00% 0.65% 2.42% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.00% 0.35% 3.42% 5

Sales Fees

FAFTX Fees (% of AUM) Category Low Category High FAFTX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

FAFTX Fees (% of AUM) Category Low Category High FAFTX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FAFTX Fees (% of AUM) Category Low Category High FAFTX Rank Quintile
Turnover 16.46% 0.00% 504.54% 15.78% 2

FAFTX - Distributions

Dividend Yield Analysis

FAFTX Category Low Category High FAFTX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.01% 8.13% 1

Dividend Distribution Analysis

FAFTX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FAFTX Category Low Category High FAFTX % Rank Quintile
Net Income Ratio 3.76% 0.01% 5.26% 4.51% 1

Capital Gain Distribution Analysis

FAFTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

FAFTX - Managers

Sheila Amoroso

Manager

Start Date

Dec 31, 1987

Tenure

31.18

Tenure Rank

0.2%

Amoroso is portfolio manager with Franklin Advisers, she joined the firm in 1986. She is also co-director of Franklin's Bond Department. Amoroso is a member of the San Francisco Municipal Bond Club and the California Society of Municipal Analysts.


Carrie Higgins

Manager

Start Date

Dec 31, 2004

Tenure

14.17

Tenure Rank

5.5%

Ms. Higgins has been an analyst or portfolio manager since 1992 and has been an analyst or portfolio manager since 2004. She joined Franklin Templeton Investments in 1990. Higgins is a member of the National Federation of Municipal Analysts, California Society of Municipal Analysts and the San Francisco Municipal Bond Club.


Francisco Rivera

Manager

Start Date

Dec 31, 1996

Tenure

22.18

Tenure Rank

1.9%

Mr. Rivera,Vice President, has been a lead portfolio manager since 1996. He has primary responsibility for the investments. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He joined Franklin Templeton Investments in 1994.


Daniel Workman

Manager

Start Date

Sep 01, 2018

Tenure

0.49

Tenure Rank

21.3%

Mr. Workman, CFA, has been an analyst or portfolio manager since 2009,providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 2003.


Tenure Analysis

Category Low

0.0

Category High

39.4

Category Average

7.91

Category Mode

4.2