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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.20

$910 M

2.70%

$0.28

0.55%

Vitals

YTD Return

0.5%

1 yr return

3.3%

3 Yr Avg Return

0.5%

5 Yr Avg Return

1.2%

Net Assets

$910 M

Holdings in Top 10

20.8%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 33.22%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.20

$910 M

2.70%

$0.28

0.55%

FTFZX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.95%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Sep 14, 2011
  • Shares Outstanding
    45875633
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Conn

Fund Description

Under normal market conditions, the Fund invests at least 80% of its total assets in 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 the Fund's total assets may be in securities that pay interest that may be subject to the federal alternative minimum tax and in securities that pay interest subject to other federal or state income taxes.

Although the Fund does not have restrictions on the maturity of the securities it may buy, the Fund does maintain a dollar-weighted average portfolio maturity of five years or less.

The Fund only buys municipal securities rated, at the time of purchase, in one of the top four ratings categories by one or more U.S. nationally recognized rating services (or unrated or short-term rated securities of comparable credit quality).

The Fund does not necessarily focus its investments in a particular state. The Fund may invest up to 35% of its total assets in municipal securities issued by U.S. territories.

Although the investment manager will search for investments across a large number of municipal securities that finance different types of projects, from time to time, based on economic conditions, the Fund may have significant positions in municipal securities that finance similar types of projects.

The investment manager selects securities that it believes will provide the best balance between risk and return within the Fund’s range of allowable investments and typically invests with a long-term time horizon. This means it generally holds securities in the Fund’s portfolio for income purposes, although the investment manager may sell a security at any time if it believes it could help the Fund meet its goal. With a focus on income, individual securities are considered for purchase or sale based on various factors and considerations, including credit profile, risk, structure, pricing, portfolio impact, duration management, restructuring, opportunistic trading and tax loss harvesting opportunities.

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FTFZX - Performance

Return Ranking - Trailing

Period FTFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.7% 12.2% 15.12%
1 Yr 3.3% -3.0% 38.5% 52.04%
3 Yr 0.5%* -10.3% 3.3% 6.94%
5 Yr 1.2%* -5.7% 1102.9% 37.74%
10 Yr 1.1%* -0.2% 248.3% 85.95%

* Annualized

Return Ranking - Calendar

Period FTFZX Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -1.4% 41.0% 79.08%
2022 -4.8% -39.7% 0.3% 8.15%
2021 -0.9% -5.6% 6.9% 72.55%
2020 1.5% -2.6% 310.0% 58.42%
2019 1.8% 0.0% 26.0% 91.33%

Total Return Ranking - Trailing

Period FTFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -2.7% 12.2% 15.12%
1 Yr 3.3% -3.0% 38.5% 52.04%
3 Yr 0.5%* -10.3% 3.3% 6.94%
5 Yr 1.2%* -5.7% 1102.9% 37.74%
10 Yr 1.1%* -0.2% 248.3% 85.95%

* Annualized

Total Return Ranking - Calendar

Period FTFZX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -1.3% 41.0% 73.51%
2022 -3.5% -39.7% 1.1% 7.16%
2021 0.1% -4.8% 23761504.0% 84.26%
2020 2.6% -1.5% 17057.9% 83.23%
2019 3.8% 0.2% 3514.6% 88.49%

NAV & Total Return History


FTFZX - Holdings

Concentration Analysis

FTFZX Category Low Category High FTFZX % Rank
Net Assets 910 M 3.48 M 68.1 B 29.79%
Number of Holdings 295 2 12848 40.66%
Net Assets in Top 10 192 M -317 M 3.4 B 20.68%
Weighting of Top 10 20.77% 1.9% 100.4% 36.69%

Top 10 Holdings

  1. Franklin Municipal Green Bond ETF 3.96%
  2. Garden State Preservation Trust, Series 2005 A 2.89%
  3. Baytown Leased Housing Associates II LP 2.80%
  4. Maricopa County Industrial Development Authority, Series 2019 C 1.84%
  5. Parish of St. John the Baptist, Series 2017 B-1 1.82%
  6. Tennessee Energy Acquisition Corp., Series 2023 A-1 1.61%
  7. Main Street Natural Gas, Inc., Series 2022 C 1.54%
  8. Kentucky Public Energy Authority, Series 2022 A-2 1.48%
  9. California Municipal Finance Authority, Series 2022 A 1.41%
  10. California Health Facilities Financing Authority, Series 2016 B-3 1.41%

Asset Allocation

Weighting Return Low Return High FTFZX % Rank
Bonds
94.45% 0.00% 150.86% 91.24%
Cash
1.60% -50.86% 50.09% 41.82%
Stocks
0.00% 0.00% 99.80% 71.99%
Preferred Stocks
0.00% 0.00% 0.52% 93.36%
Other
0.00% -8.54% 33.35% 88.14%
Convertible Bonds
0.00% 0.00% 0.93% 93.21%

Bond Sector Breakdown

Weighting Return Low Return High FTFZX % Rank
Municipal
95.53% 44.39% 100.00% 78.01%
Cash & Equivalents
1.00% 0.00% 48.02% 28.41%
Corporate
0.43% 0.00% 9.41% 6.27%
Derivative
0.00% -8.54% 23.38% 86.86%
Securitized
0.00% 0.00% 5.93% 93.21%
Government
0.00% 0.00% 52.02% 93.98%

Bond Geographic Breakdown

Weighting Return Low Return High FTFZX % Rank
US
94.45% 0.00% 142.23% 88.66%
Non US
0.00% 0.00% 23.89% 73.52%

FTFZX - Expenses

Operational Fees

FTFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.01% 20.65% 76.58%
Management Fee 0.47% 0.00% 1.20% 73.54%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.44% 75.86%

Sales Fees

FTFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FTFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

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.

FTFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.22% 0.00% 283.00% 82.62%

FTFZX - Distributions

Dividend Yield Analysis

FTFZX Category Low Category High FTFZX % Rank
Dividend Yield 2.70% 0.00% 14.36% 62.01%

Dividend Distribution Analysis

FTFZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FTFZX Category Low Category High FTFZX % Rank
Net Income Ratio 0.95% -0.53% 5.33% 88.26%

Capital Gain Distribution Analysis

FTFZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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FTFZX - Fund Manager Analysis

Managers

James Conn


Start Date

Tenure

Tenure Rank

Sep 02, 2003

18.76

18.8%

Mr. Conn is a senior vice president and portfolio manager with Franklin Advisers, Inc, his employer since 1996. 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 management requirements. Mr. Conn holds the Chartered Financial Analyst designation.

Ben Barber


Start Date

Tenure

Tenure Rank

Aug 01, 2020

1.83

1.8%

Mr. Barber is is the Director of Franklin's Municipal Bond Department. Prior to joining Franklin Templeton, he was co-head of municipal bonds at Goldman Sachs Asset Management. He first joined Franklin Templeton in 1991 and rejoined again in April 2020.

Francisco Rivera


Start Date

Tenure

Tenure Rank

Nov 02, 2020

1.58

1.6%

Francisco 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


Start Date

Tenure

Tenure Rank

Nov 02, 2020

1.58

1.6%

Daniel 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 Category High Category Average Category Mode
0.08 35.05 7.36 1.58