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FKTFX Franklin CA Tax Free Income A1

  • Fund
  • FKTFX
  • Price as of: Sep 13, 2019
  • $7.62 - $0.05 - 0.65%

FKTFX - Profile

Vitals

  • YTD Return 5.1%
  • 3 Yr Annualized Return -0.6%
  • 5 Yr Annualized Return 0.5%
  • Net Assets $16.5 B
  • Holdings in Top 10 18.1%

52 WEEK LOW AND HIGH

$7.62
$7.09
$7.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.60%

SALES FEES

  • Front Load 3.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.12%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Sep 10, 2018

STANDARD (TAXABLE)

$1,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Long

Distributions

  • YTD Total Return 6.0%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.54%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Franklin California Tax Free Income Fund
  • Fund Family Name Franklin Templeton Investments
  • Inception Date Jan 31, 1977
  • Shares Outstanding 1573358420
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager John Wiley

Fund Description

The Franklin California Tax-Free Income Fund Class A (FKTFX) is an actively managed fund that aims to provide a high level of tax-free income to residents in California. The fund does this by investing in various municipal bonds offered by state and local agencies and governments. Fund management uses credit analysis to find high-quality, undervalued bonds and holds them through maturity. As such, the majority of FKTFX’s holdings would classify as long-dated bonds at 15 years or more. However, the fund is free to invest in various maturities.

For investors living in California who are in higher tax brackets, FKTFX makes a great choice for tax-free income. The fund is internally managed by Franklin Advisors.

FKTFX - Performance

Return Ranking - Trailing

Period FKTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% 2.1% 7.4% 18.86%
1 Yr 5.2% 0.6% 6.4% 9.30%
3 Yr -0.6%* -1.3% 1.2% 65.28%
5 Yr 0.5%* -0.7% 1.7% 36.50%
10 Yr 0.8%* -1.0% 2.8% 49.54%

* Annualized


Return Ranking - Calendar

Period FKTFX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.2% -4.3% 2.8% 79.04%
2017 2.3% -0.2% 6.8% 45.03%
2016 -2.7% -4.7% -1.7% 25.35%
2015 -0.4% -1.9% 1.8% 77.70%
2014 8.8% 1.5% 15.6% 19.26%

Total Return Ranking - Trailing

Period FKTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.0% 2.1% 7.4% 3.43%
1 Yr 7.2% 0.6% 10.0% 2.33%
3 Yr 2.4%* -1.3% 2.6% 1.39%
5 Yr 3.9%* -0.7% 4.0% 1.46%
10 Yr 4.9%* -1.0% 5.4% 1.83%

* Annualized


Total Return Ranking - Calendar

Period FKTFX Return Category Return Low Category Return High Rank in Category (%)
2018 0.3% -4.3% 2.8% 6.59%
2017 6.1% -0.2% 6.9% 3.97%
2016 0.8% -4.6% 0.8% 0.70%
2015 3.6% -1.9% 3.7% 1.44%
2014 13.5% 2.0% 15.7% 3.70%

NAV & Total Return History

FKTFX - Holdings

Concentration Analysis

FKTFX Category Low Category High FKTFX % Rank
Net Assets 16.5 B 4.03 M 16.5 B 1.69%
Number of Holdings 637 34 3999 15.17%
Net Assets in Top 10 2.99 B -676 K 2.99 B 1.69%
Weighting of Top 10 18.13% 3.8% 80.1% 40.45%

Top 10 Holdings

  1. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5% 2.99%

  2. CALIFORNIA HEALTH FACS FING AUTH REV 4% 2.65%

  3. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 2.22%

  4. FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV 6% 2.21%

  5. FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV 5.75% 1.86%

  6. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 1.54%

  7. FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV 6% 1.37%

  8. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0% 1.18%

  9. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0% 1.06%

  10. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0% 1.05%


Asset Allocation

Weighting Return Low Return High FKTFX % Rank
Bonds
100.60% 91.08% 111.67% 12.36%
Stocks
0.00% 0.00% 0.25% 39.33%
Preferred Stocks
0.00% 0.00% 0.00% 37.08%
Other
0.00% -1.37% 1.89% 40.45%
Convertible Bonds
0.00% 0.00% 0.00% 37.08%
Cash
-0.60% -11.67% 8.91% 89.89%

Bond Sector Breakdown

Weighting Return Low Return High FKTFX % Rank
Municipal
100.60% 91.09% 111.67% 15.17%
Derivative
0.00% 0.00% 0.00% 37.08%
Securitized
0.00% 0.00% 0.00% 37.08%
Corporate
0.00% 0.00% 1.70% 43.26%
Government
0.00% -5.28% 1.31% 36.52%
Cash & Equivalents
-0.60% -11.67% 8.91% 89.89%

Bond Geographic Breakdown

Weighting Return Low Return High FKTFX % Rank
US
99.66% 87.68% 111.67% 21.91%
Non US
0.94% 0.00% 8.37% 47.19%

FKTFX - Expenses

Operational Fees

FKTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.09% 28.64% 68.79%
Management Fee 0.44% 0.00% 0.63% 35.96%
12b-1 Fee 0.10% 0.00% 1.00% 22.73%
Administrative Fee 0.15% 0.01% 0.33% 56.72%

Sales Fees

FKTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.75% 2.25% 4.75% 57.14%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FKTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 1.00% 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.

FKTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.12% 2.00% 293.00% 22.73%

FKTFX - Distributions

Dividend Yield Analysis

FKTFX Category Low Category High FKTFX % Rank
Dividend Yield 1.99% 0.04% 4.37% 23.03%

Dividend Distribution Analysis

FKTFX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

FKTFX Category Low Category High FKTFX % Rank
Net Income Ratio 3.54% 0.87% 4.50% 18.50%

Capital Gain Distribution Analysis

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

FKTFX - Managers

John Wiley

Manager

Start Date

Tenure

Tenure Rank

Aug 01, 1991

28.1

28.1%

John Wiley, Senior Vice President, has been a lead portfolio manager since 1993. Wiley has been an analyst or portfolio manager with Franklin Templeton Investments, his employer since 1989. He holds the Chartered Financial Analyst designation.


Christopher S. Sperry

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2000

18.68

18.7%

Sperry has been an analyst or portfolio manager of Franklin Templeton Investments, his employer since 1996. Sperry holds the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.17

Category High

30.68

Category Average

8.8

Category Mode

6.51