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FKTIX Franklin Federal Tax Free Income A1

  • Fund
  • FKTIX
  • Price as of: Sep 16, 2019
  • $11.98 - $0.01 - 0.08%

FKTIX - Profile

Vitals

  • YTD Return 3.2%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $10.9 B
  • Holdings in Top 10 5.9%

52 WEEK LOW AND HIGH

$11.98
$11.41
$12.17

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.63%

SALES FEES

  • Front Load 3.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.58%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Sep 07, 2018

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Fund Classification

PRIMARY CATEGORY

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

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.60%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Franklin Federal Tax Free Income Fund
  • Fund Family Name Franklin Templeton Investments
  • Inception Date Oct 07, 1983
  • Shares Outstanding 649384461
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Sheila Amoroso

Fund Description

The Franklin Federal Tax-Free Income Fund Class A (FKTIX) is an actively managed fund designed to provide tax-free income. It does this by investing in a variety of municipal bonds. The fund focuses its attention on more conservative bonds and can invest in any maturity and duration. FKTIX generally holds its munis for long periods of time and uses rigorous credit research to find undervalued bonds in any state.

For investors in higher tax brackets and subject to the AMT, FKTIX makes for an ideal core fixed-income holding. The fund is internally managed by Franklin Advisors.

FKTIX - Performance

Return Ranking - Trailing

Period FKTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% 0.0% 18.2% 64.06%
1 Yr 3.4% -4.1% 14.2% 60.24%
3 Yr -1.4%* -3.1% 9.2% 97.57%
5 Yr -0.7%* -14.9% 3.6% 93.82%
10 Yr 0.1%* -8.7% 6.5% 67.46%

* Annualized


Return Ranking - Calendar

Period FKTIX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.1% -13.7% 6.9% 67.26%
2017 -0.2% -6.5% 21.2% 88.56%
2016 -3.0% -58.1% 8.6% 85.09%
2015 -1.4% -24.0% 2.6% 56.24%
2014 6.9% -60.4% 83.0% 7.61%

Total Return Ranking - Trailing

Period FKTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% 0.0% 18.2% 45.18%
1 Yr 5.3% -4.1% 14.2% 28.15%
3 Yr 1.7%* -3.1% 9.2% 10.89%
5 Yr 2.7%* -14.9% 5.7% 4.15%
10 Yr 3.9%* -8.7% 7.0% 3.68%

* Annualized


Total Return Ranking - Calendar

Period FKTIX Return Category Return Low Category Return High Rank in Category (%)
2018 0.6% -13.7% 6.9% 3.90%
2017 3.6% -6.5% 27.0% 10.40%
2016 0.7% -58.1% 10.7% 33.69%
2015 2.4% -14.6% 4.2% 1.35%
2014 11.2% -60.4% 83.0% 1.65%

NAV & Total Return History

FKTIX - Holdings

Concentration Analysis

FKTIX Category Low Category High FKTIX % Rank
Net Assets 10.9 B 701 K 241 B 6.74%
Number of Holdings 814 1 17358 18.53%
Net Assets in Top 10 637 M -179 M 23.7 B 15.97%
Weighting of Top 10 5.87% 2.5% 212.7% 96.74%

Top 10 Holdings

  1. NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% 0.85%

  2. NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5% 0.70%

  3. SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV 1.38% 0.62%

  4. ST LUCIE CNTY FLA POLLUTN CTL REV 1.38% 0.60%

  5. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5% 0.54%

  6. NORTH TEX TWY AUTH REV 5% 0.53%

  7. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 0.53%

  8. LIBERTY N Y DEV CORP REV 5.25% 0.52%

  9. CALIFORNIA ST 5.25% 0.49%

  10. INDIANAPOLIS IND LOC PUB IMPT BD BK 5% 0.48%


Asset Allocation

Weighting Return Low Return High FKTIX % Rank
Bonds
101.25% 80.17% 129.72% 7.44%
Stocks
0.00% -14.50% 14.08% 44.43%
Preferred Stocks
0.00% -1.25% 4.10% 48.94%
Other
0.00% -16.03% 27.53% 42.12%
Convertible Bonds
0.00% 0.00% 6.30% 66.08%
Cash
-1.25% -37.85% 22.95% 91.94%

Bond Sector Breakdown

Weighting Return Low Return High FKTIX % Rank
Municipal
101.25% 0.00% 106.42% 1.94%
Derivative
0.00% -24.73% 33.80% 41.98%
Securitized
0.00% 0.00% 141.25% 73.41%
Corporate
0.00% -1.23% 99.47% 77.14%
Government
0.00% -74.40% 115.78% 73.26%
Cash & Equivalents
-1.25% -37.85% 22.95% 91.72%

Bond Geographic Breakdown

Weighting Return Low Return High FKTIX % Rank
US
101.00% 66.38% 150.14% 4.84%
Non US
0.25% -43.03% 26.38% 77.44%

FKTIX - Expenses

Operational Fees

FKTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.63% 0.00% 209.96% 65.79%
Management Fee 0.45% 0.00% 1.25% 68.57%
12b-1 Fee 0.10% 0.00% 1.00% 22.08%
Administrative Fee 0.15% 0.00% 0.63% 77.35%

Sales Fees

FKTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.75% 0.00% 5.75% 45.05%
Deferred Load N/A 0.00% 5.50% N/A

Trading Fees

FKTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 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.

FKTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.58% 0.00% 1856.00% 16.50%

FKTIX - Distributions

Dividend Yield Analysis

FKTIX Category Low Category High FKTIX % Rank
Dividend Yield 2.06% 0.00% 96.14% 16.23%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FKTIX Category Low Category High FKTIX % Rank
Net Income Ratio 3.60% -0.18% 4.99% 5.21%

Capital Gain Distribution Analysis

FKTIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

FKTIX - Managers

Sheila Amoroso

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1987

31.69

31.7%

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.


Francisco Rivera

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1996

22.68

22.7%

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.


Carrie Higgins

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2004

14.67

14.7%

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.


Daniel Workman

Manager

Start Date

Tenure

Tenure Rank

Sep 01, 2018

1.0

1.0%

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

39.94

Category Average

7.49

Category Mode

7.29