FXCTX: Franklin CT Tax-Free Income A1

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FXCTX Franklin CT Tax-Free Income A1


Profile

FXCTX - Profile

Vitals

  • YTD Return -1.0%
  • 3 Yr Annualized Return -0.8%
  • 5 Yr Annualized Return -1.1%
  • Net Assets $198 M
  • Holdings in Top 10 39.3%

52 WEEK LOW AND HIGH

$10.08
$9.48
$10.43

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.78%

SALES FEES

  • Front Load 3.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 11.63%

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


Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return -1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.98%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin Connecticut Tax-Free Income Fund
  • Fund Family Name
    Franklin Templeton Investments
  • Inception Date
    Oct 03, 1988
  • Shares Outstanding
    14074729
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stella Wong

Fund Description

The fund invests at least 80% of its net assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. It 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.


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Categories

Performance

FXCTX - Performance

Return Ranking - Trailing

Period FXCTX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -31.4% 945.6% 73.02%
1 Yr -0.7% -25.1% 973.3% 80.71%
3 Yr -0.8%* -10.3% 120.3% 90.43%
5 Yr -1.1%* -5.3% 60.2% 94.79%
10 Yr -0.9%* -5.1% 3.6% 97.93%

* Annualized

Return Ranking - Calendar

Period FXCTX Return Category Return Low Category Return High Rank in Category (%)
2019 1.8% -1.7% 18.3% 86.73%
2018 -2.3% -12.4% 0.8% 44.87%
2017 -1.4% -6.0% 20.3% 98.09%
2016 -2.3% -7.8% 8.6% 65.74%
2015 -2.6% -18.3% 3.0% 75.60%

Total Return Ranking - Trailing

Period FXCTX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -31.4% 945.6% 73.02%
1 Yr -0.7% -25.1% 973.3% 80.71%
3 Yr -0.8%* -7.5% 120.3% 91.81%
5 Yr -1.1%* -5.3% 60.2% 95.50%
10 Yr -0.9%* -5.1% 6.8% 98.62%

* Annualized

Total Return Ranking - Calendar

Period FXCTX Return Category Return Low Category Return High Rank in Category (%)
2019 1.8% -1.7% 18.3% 86.99%
2018 -2.3% -11.7% 3.1% 52.89%
2017 -1.4% -6.0% 27.0% 98.51%
2016 -2.3% -7.8% 10.7% 68.29%
2015 -2.6% -14.2% 4.2% 81.99%

NAV & Total Return History


Holdings

FXCTX - Holdings

Concentration Analysis

FXCTX Category Low Category High FXCTX % Rank
Net Assets 198 M 634 K 264 B 72.07%
Number of Holdings 58 1 17920 92.67%
Net Assets in Top 10 78 M -587 M 20.8 B 57.58%
Weighting of Top 10 39.34% 2.3% 100.0% 19.26%

Top 10 Holdings

  1. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5% 6.45%
  2. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5% 4.94%
  3. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5% 4.49%
  4. BRIDGEPORT CONN 5% 4.27%
  5. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5.38% 3.78%
  6. UNIVERSITY CONN 5% 3.72%
  7. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5.62% 2.99%
  8. CONNECTICUT ST REVOLVING FD GEN REV 5% 2.94%
  9. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5% 2.92%
  10. CONNECTICUT ST HEALTH & EDL FACS AUTH REV 5% 2.86%

Asset Allocation

Weighting Return Low Return High FXCTX % Rank
Bonds
100.10% 71.08% 159.74% 8.64%
Stocks
0.00% -0.38% 18.10% 52.33%
Preferred Stocks
0.00% 0.00% 9.11% 57.19%
Other
0.00% -27.60% 31.83% 52.82%
Convertible Bonds
0.00% 0.00% 7.31% 73.17%
Cash
-0.10% -59.74% 27.48% 89.39%

Bond Sector Breakdown

Weighting Return Low Return High FXCTX % Rank
Municipal
100.00% 0.00% 100.11% 2.40%
Derivative
0.00% -0.83% 31.72% 55.29%
Cash & Equivalents
0.00% -26.49% 24.02% 96.44%
Securitized
0.00% 0.00% 98.72% 76.30%
Corporate
0.00% 0.00% 99.41% 80.43%
Government
0.00% -2.21% 100.00% 78.17%

Bond Geographic Breakdown

Weighting Return Low Return High FXCTX % Rank
US
100.10% 58.40% 156.78% 5.11%
Non US
0.00% -38.91% 29.50% 90.51%

Expenses

FXCTX - Expenses

Operational Fees

FXCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.78% 0.01% 34.57% 48.77%
Management Fee 0.55% 0.00% 1.25% 94.16%
12b-1 Fee 0.10% 0.00% 1.00% 18.71%
Administrative Fee 0.15% 0.00% 0.50% 75.96%

Sales Fees

FXCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.75% 0.50% 5.75% 47.80%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

FXCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

FXCTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.63% 0.00% 489.00% 10.97%

Distributions

FXCTX - Distributions

Dividend Yield Analysis

FXCTX Category Low Category High FXCTX % Rank
Dividend Yield 0.79% 0.00% 6.20% 2.40%

Dividend Distribution Analysis

FXCTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

FXCTX Category Low Category High FXCTX % Rank
Net Income Ratio 2.98% -0.71% 6.02% 24.72%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

FXCTX - Fund Manager Analysis

Managers

Stella Wong


Start Date

Tenure

Tenure Rank

Oct 03, 1988

31.59

31.6%

Ms. Wong joined Franklin Advisers in 1986. She currently manages several Franklin state tax-free funds, supervises Franklin's municipal trading desk, and acts as liaison between the municipal bond department and other areas of Franklin. Wong is a member of the California Society of Municipal Analysts and the San Francisco Municipal Bond Club.

Carrie Higgins


Start Date

Tenure

Tenure Rank

Dec 31, 2004

15.34

15.3%

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.

Jeffery Snyder


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.33

5.3%

Jeff Snyder is a vice president, senior portfolio manager and director of portfolio management and trading (municipal bonds) for Franklin Separately Managed Accounts (SMA). His primary responsibilities include management of various municipal fixed income portfolios, including researching and selecting securities within established investment policy guidelines. He is additionally responsible for trading securities and coordinating trades with other team portfolio managers. He also oversees all daily operational and administrative duties related to the management of the municipal bond client portfolios. Mr. Snyder is a member of the investment committee for the Intermediate Municipal SMA portfolio and participates in weekly account review and strategy meetings for this fixed income strategy. Mr. Snyder is also a Co-Portfolio Manager on the Connecticut Tax Free Income Fund. Mr. Snyder joined the firm in 1997. Prior to joining Franklin Templeton Portfolio Advisors (FTPA) in 1999, Mr. Snyder was employed with an investment bank in London, England. Mr. Snyder received a B.S. degree in Commerce and Finance from Santa Clara University and a Masters in Financial Analysis from the University of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.42 0.33