FRANKLIN NEW YORK TAX-FREE INCOME FUND
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.8%
1 yr return
2.3%
3 Yr Avg Return
-1.6%
5 Yr Avg Return
0.9%
Net Assets
$2.9 B
Holdings in Top 10
15.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.49%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 11.94%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FKTJX - Profile
Distributions
- YTD Total Return -0.8%
- 3 Yr Annualized Total Return -1.6%
- 5 Yr Annualized Total Return 0.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.52%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFRANKLIN NEW YORK TAX-FREE INCOME FUND
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateAug 01, 2017
-
Shares Outstanding8846904
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Bonelli
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, and from New York State personal income taxes. As a non-fundamental policy, the Fund also normally invests at least 65% of its total
assets, although it generally invests more, in securities that pay interest free from New York City personal income taxes. 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 invested in securities that pay interest that may be subject to the federal alternative minimum tax and in securities that pay taxable interest.
The Fund may invest in securities of any maturity or duration.
The Fund also may invest up to 35% of its total assets in municipal securities issued by U.S. territories.
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 is a "non-diversified" fund, which means it generally invests a greater portion of its assets in the securities of one or more issuers and invests overall in a smaller number of issuers than a diversified fund.
The Fund may invest in insured municipal securities. Insured municipal securities are covered by insurance policies that guarantee the timely payment of principal and interest. The insurance premium costs, however, are typically reflected in a lower yield and/or higher price for the insured bond. It is important to note that insurance does not guarantee the market value of an insured security, or the Fund’s share price or distributions, and shares of the Fund are not insured.
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.
FKTJX - Performance
Return Ranking - Trailing
Period | FKTJX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.8% | -4.4% | 10.8% | 56.84% |
1 Yr | 2.3% | -5.7% | 31.7% | 28.99% |
3 Yr | -1.6%* | -11.1% | 2.5% | 64.48% |
5 Yr | 0.9%* | -5.9% | 1102.0% | 49.69% |
10 Yr | N/A* | -0.4% | 248.1% | 69.02% |
* Annualized
Return Ranking - Calendar
Period | FKTJX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.0% | -1.4% | 41.0% | 11.11% |
2022 | -14.4% | -39.7% | 0.3% | 84.71% |
2021 | -0.6% | -5.6% | 6.9% | 54.01% |
2020 | 1.9% | -2.6% | 310.0% | 42.06% |
2019 | 3.9% | 0.0% | 26.0% | 43.98% |
Total Return Ranking - Trailing
Period | FKTJX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.8% | -4.4% | 10.8% | 56.84% |
1 Yr | 2.3% | -5.7% | 31.7% | 28.99% |
3 Yr | -1.6%* | -11.1% | 2.5% | 64.48% |
5 Yr | 0.9%* | -5.9% | 1102.0% | 49.69% |
10 Yr | N/A* | -0.4% | 248.1% | 65.32% |
* Annualized
Total Return Ranking - Calendar
Period | FKTJX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.8% | -1.3% | 41.0% | 7.28% |
2022 | -11.6% | -39.7% | 1.1% | 82.60% |
2021 | 2.2% | -4.8% | 23761504.0% | 33.18% |
2020 | 4.8% | -1.5% | 17057.9% | 19.54% |
2019 | 7.2% | 0.2% | 3514.6% | 29.99% |
NAV & Total Return History
FKTJX - Holdings
Concentration Analysis
FKTJX | Category Low | Category High | FKTJX % Rank | |
---|---|---|---|---|
Net Assets | 2.9 B | 3.22 M | 71.9 B | 12.10% |
Number of Holdings | 452 | 2 | 13067 | 27.67% |
Net Assets in Top 10 | 446 M | -317 M | 3.4 B | 6.33% |
Weighting of Top 10 | 15.50% | 1.9% | 100.4% | 61.19% |
Top 10 Holdings
- New York Liberty Development Corp., Series 2005 3.60%
- New York State Dormitory Authority, Series 2019 A 1.82%
- Port Authority of New York New Jersey, Series 211th 1.51%
- New York State Dormitory Authority, Series 2016 A 1.50%
- New York City Municipal Water Finance Authority, Series 2018 BB-1 1.32%
- Hudson Yards Infrastructure Corp., Series 2017 A 1.26%
- New York City Municipal Water Finance Authority, Series 2017 DD 1.21%
- New York City Housing Development Corp., Series 2018 K 1.15%
- Metropolitan Transportation Authority, Series 2017 A 1.09%
- New York Liberty Development Corp., Series 2007 1.06%
Asset Allocation
Weighting | Return Low | Return High | FKTJX % Rank | |
---|---|---|---|---|
Bonds | 97.49% | 0.00% | 150.86% | 70.22% |
Cash | 2.51% | -50.86% | 50.09% | 27.02% |
Stocks | 0.00% | 0.00% | 99.81% | 92.44% |
Preferred Stocks | 0.00% | 0.00% | 0.52% | 90.89% |
Other | 0.00% | -8.54% | 33.35% | 85.65% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 90.85% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FKTJX % Rank | |
---|---|---|---|---|
Municipal | 100.00% | 44.39% | 100.00% | 9.28% |
Cash & Equivalents | 1.65% | 0.00% | 48.02% | 22.95% |
Derivative | 0.00% | -8.54% | 23.38% | 90.69% |
Securitized | 0.00% | 0.00% | 5.93% | 97.99% |
Corporate | 0.00% | 0.00% | 9.41% | 98.18% |
Government | 0.00% | 0.00% | 52.02% | 97.99% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FKTJX % Rank | |
---|---|---|---|---|
US | 97.49% | 0.00% | 142.23% | 66.97% |
Non US | 0.00% | 0.00% | 23.89% | 91.01% |
FKTJX - Expenses
Operational Fees
FKTJX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.49% | 0.01% | 20.65% | 84.53% |
Management Fee | 0.45% | 0.00% | 1.20% | 65.57% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.15% | 0.01% | 0.44% | 79.31% |
Sales Fees
FKTJX 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
FKTJX 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.
FKTJX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 11.94% | 0.00% | 283.00% | 28.90% |
FKTJX - Distributions
Dividend Yield Analysis
FKTJX | Category Low | Category High | FKTJX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 14.56% | 21.19% |
Dividend Distribution Analysis
FKTJX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FKTJX | Category Low | Category High | FKTJX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.52% | -0.53% | 5.33% | 17.93% |
Capital Gain Distribution Analysis
FKTJX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.028 | OrdinaryDividend |
Feb 29, 2024 | $0.027 | DailyAccrualFund |
Jan 31, 2024 | $0.027 | DailyAccrualFund |
Dec 29, 2023 | $0.029 | DailyAccrualFund |
Nov 30, 2023 | $0.027 | DailyAccrualFund |
Oct 31, 2023 | $0.027 | DailyAccrualFund |
Sep 29, 2023 | $0.027 | DailyAccrualFund |
Aug 31, 2023 | $0.027 | DailyAccrualFund |
Jul 31, 2023 | $0.025 | DailyAccrualFund |
Jun 30, 2023 | $0.028 | DailyAccrualFund |
May 31, 2023 | $0.027 | DailyAccrualFund |
Apr 28, 2023 | $0.024 | DailyAccrualFund |
Mar 31, 2023 | $0.029 | DailyAccrualFund |
Feb 28, 2023 | $0.024 | DailyAccrualFund |
Jan 31, 2023 | $0.025 | DailyAccrualFund |
Dec 30, 2022 | $0.028 | DailyAccrualFund |
Nov 30, 2022 | $0.025 | DailyAccrualFund |
Oct 31, 2022 | $0.024 | DailyAccrualFund |
Sep 30, 2022 | $0.026 | DailyAccrualFund |
Aug 31, 2022 | $0.025 | DailyAccrualFund |
Jul 29, 2022 | $0.025 | DailyAccrualFund |
Jun 30, 2022 | $0.024 | DailyAccrualFund |
May 31, 2022 | $0.024 | DailyAccrualFund |
Apr 29, 2022 | $0.023 | DailyAccrualFund |
Mar 31, 2022 | $0.025 | DailyAccrualFund |
Feb 28, 2022 | $0.021 | DailyAccrualFund |
Jan 31, 2022 | $0.022 | DailyAccrualFund |
Dec 31, 2021 | $0.027 | DailyAccrualFund |
Nov 30, 2021 | $0.025 | DailyAccrualFund |
Oct 29, 2021 | $0.023 | DailyAccrualFund |
Sep 30, 2021 | $0.023 | DailyAccrualFund |
Aug 31, 2021 | $0.025 | DailyAccrualFund |
Jul 30, 2021 | $0.024 | DailyAccrualFund |
Jun 30, 2021 | $0.026 | DailyAccrualFund |
May 28, 2021 | $0.022 | DailyAccrualFund |
Apr 30, 2021 | $0.024 | DailyAccrualFund |
Mar 31, 2021 | $0.027 | DailyAccrualFund |
Feb 26, 2021 | $0.023 | DailyAccrualFund |
Jan 29, 2021 | $0.023 | DailyAccrualFund |
Dec 31, 2020 | $0.026 | DailyAccrualFund |
Nov 30, 2020 | $0.026 | DailyAccrualFund |
Oct 30, 2020 | $0.026 | DailyAccrualFund |
Sep 30, 2020 | $0.026 | DailyAccrualFund |
Aug 31, 2020 | $0.028 | DailyAccrualFund |
Jul 31, 2020 | $0.027 | DailyAccrualFund |
Jun 30, 2020 | $0.028 | DailyAccrualFund |
May 29, 2020 | $0.026 | DailyAccrualFund |
Apr 30, 2020 | $0.026 | DailyAccrualFund |
Mar 31, 2020 | $0.028 | DailyAccrualFund |
Feb 28, 2020 | $0.024 | DailyAccrualFund |
Jan 31, 2020 | $0.027 | DailyAccrualFund |
Dec 31, 2019 | $0.027 | DailyAccrualFund |
Nov 29, 2019 | $0.025 | DailyAccrualFund |
Oct 31, 2019 | $0.027 | DailyAccrualFund |
Sep 30, 2019 | $0.028 | DailyAccrualFund |
Aug 30, 2019 | $0.027 | DailyAccrualFund |
Jul 31, 2019 | $0.030 | DailyAccrualFund |
Jun 28, 2019 | $0.026 | DailyAccrualFund |
May 31, 2019 | $0.029 | DailyAccrualFund |
Apr 30, 2019 | $0.010 | DailyAccrualFund |
Apr 03, 2019 | $0.030 | OrdinaryDividend |
Mar 05, 2019 | $0.030 | OrdinaryDividend |
Feb 05, 2019 | $0.029 | OrdinaryDividend |
Jan 07, 2019 | $0.029 | OrdinaryDividend |
Dec 05, 2018 | $0.031 | OrdinaryDividend |
Nov 05, 2018 | $0.031 | OrdinaryDividend |
Oct 03, 2018 | $0.031 | OrdinaryDividend |
Sep 06, 2018 | $0.031 | OrdinaryDividend |
Aug 03, 2018 | $0.031 | OrdinaryDividend |
Jul 05, 2018 | $0.032 | OrdinaryDividend |
Jun 05, 2018 | $0.032 | OrdinaryDividend |
May 03, 2018 | $0.032 | OrdinaryDividend |
Apr 04, 2018 | $0.032 | OrdinaryDividend |
Mar 05, 2018 | $0.032 | OrdinaryDividend |
Feb 05, 2018 | $0.031 | OrdinaryDividend |
Jan 05, 2018 | $0.031 | OrdinaryDividend |
Dec 05, 2017 | $0.031 | OrdinaryDividend |
Nov 03, 2017 | $0.031 | OrdinaryDividend |
Oct 04, 2017 | $0.031 | OrdinaryDividend |
Sep 06, 2017 | $0.031 | OrdinaryDividend |
FKTJX - Fund Manager Analysis
Managers
John Bonelli
Start Date
Tenure
Tenure Rank
Oct 01, 2016
5.67
5.7%
Mr. Bonelli is a Portfolio Manager and Research Analyst of Franklin Advisers, Inc. He joined Franklin Templeton Investments in 2010.
Michael Conn
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Mr. Conn has been a portfolio manager of Franklin Advisers, Inc since November 2020. He joined Franklin Templeton in 2006.
Christopher Sperry
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Sperry has been an analyst or portfolio manager of Franklin Templeton Investments, his employer since 1996. Sperry holds the Chartered Financial Analyst designation.
John Wiley
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.37 | 1.58 |