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Name

As of 12/04/2023

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

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND

FRHIX | Fund

$8.55

$4.75 B

4.74%

$0.41

0.64%

Vitals

YTD Return

3.5%

1 yr return

1.7%

3 Yr Avg Return

-2.0%

5 Yr Avg Return

1.3%

Net Assets

$4.75 B

Holdings in Top 10

14.9%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.64%

SALES FEES

Front Load 3.50%

Deferred Load N/A

TRADING FEES

Turnover 18.70%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/04/2023

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

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND

FRHIX | Fund

$8.55

$4.75 B

4.74%

$0.41

0.64%

FRHIX - Profile

Distributions

  • YTD Total Return 3.5%
  • 3 Yr Annualized Total Return -2.0%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.65%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
  • Fund Family Name
    Franklin Templeton Investments
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    337224147
  • Share Class
    A1
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Francisco Rivera

Fund Description

Under normal market conditions, 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. 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 net 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.

The Fund may invest in municipal securities rated in any rating category (or unrated or short-term rated securities of comparable credit quality), including defaulted securities.

The Fund does not necessarily focus its investments in a particular state or territory, and will not invest more than 25% of its total assets in municipal securities of any one state or territory. 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.

When selecting securities for the Fund’s portfolio, the investment manager may consider existing market conditions, the availability of lower-rated securities, and whether the difference in yields between higher and lower-rated securities justifies the higher risk of lower-rated securities.

Read More

FRHIX - Performance

Return Ranking - Trailing

Period FRHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -5.8% 7.5% 54.59%
1 Yr 1.7% -5.9% 5.7% 58.45%
3 Yr -2.0%* -10.1% 1.5% 64.18%
5 Yr 1.3%* -4.5% 525.4% 48.15%
10 Yr 2.8%* 0.5% 156.2% 73.77%

* Annualized

Return Ranking - Calendar

Period FRHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -17.4% -26.9% -3.5% 56.37%
2021 1.2% -1.9% 5.6% 74.13%
2020 1.8% -10.1% 4.2% 12.56%
2019 3.0% -0.7% 9.1% 97.41%
2018 -2.5% -5.7% 4.2% 54.34%

Total Return Ranking - Trailing

Period FRHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -5.8% 7.5% 54.59%
1 Yr 1.7% -5.9% 5.7% 58.45%
3 Yr -2.0%* -10.1% 1.5% 64.18%
5 Yr 1.3%* -4.5% 525.4% 48.15%
10 Yr 2.8%* 0.5% 156.2% 73.77%

* Annualized

Total Return Ranking - Calendar

Period FRHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -13.7% -26.9% 4.3% 48.53%
2021 5.2% -1.9% 10.0% 55.22%
2020 6.2% -4.1% 8.2% 12.06%
2019 8.0% -0.7% 1028633.9% 64.77%
2018 2.3% -2.2% 10.7% 27.17%

NAV & Total Return History

FRHIX - Holdings

Concentration Analysis

FRHIX Category Low Category High FRHIX % Rank
Net Assets 4.75 B 9.07 K 15.9 B 15.94%
Number of Holdings 1763 1 3078 14.56%
Net Assets in Top 10 744 M -102 M 3.6 B 12.62%
Weighting of Top 10 14.89% 5.1% 99.4% 43.41%

Top 10 Holdings

  1. San Joaquin Hills Transportation Corridor Agency 2.51%
  2. San Joaquin Hills Transportation Corridor Agency 2.04%
  3. Grand Canyon University 1.70%
  4. County of Jefferson, Series 2013 F 1.57%
  5. Puerto Rico Sales Tax Financing Corp., Series A-1 1.56%
  6. Public Authority for Colorado Energy, Series 2008 1.41%
  7. Puerto Rico Electric Power Authority 1.35%
  8. Puerto Rico Sales Tax Financing Corp., Series A-1 1.00%
  9. San Joaquin Hills Transportation Corridor Agency, Series 1997 A 0.88%
  10. San Joaquin Hills Transportation Corridor Agency, Series 1997 A 0.88%

Asset Allocation

Weighting Return Low Return High FRHIX % Rank
Bonds 		98.24% 0.00% 146.69% 67.46%
Cash 		0.75% -0.64% 100.00% 61.17%
Stocks 		0.10% 0.00% 23.40% 21.53%
Preferred Stocks 		0.00% -47.61% 1.82% 9.71%
Other 		0.00% -10.85% 5.41% 36.41%
Convertible Bonds 		0.00% 0.00% 0.00% 9.22%

Stock Sector Breakdown

Weighting Return Low Return High FRHIX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 4.78% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 0.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 77.65% N/A
Basic Materials 		0.00% 17.58% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High FRHIX % Rank
US 		0.10% 0.00% 23.40% 21.84%
Non US 		0.00% 0.00% 0.00% 9.22%

Bond Sector Breakdown

Weighting Return Low Return High FRHIX % Rank
Municipal 		97.75% 0.00% 100.00% 55.34%
Corporate 		1.76% 0.00% 2.83% 7.28%
Cash & Equivalents 		0.75% 0.00% 100.00% 29.61%
Derivative 		0.00% -10.85% 1.91% 31.07%
Securitized 		0.00% 0.00% 22.44% 14.56%
Government 		0.00% 0.00% 0.09% 13.59%

Bond Geographic Breakdown

Weighting Return Low Return High FRHIX % Rank
US 		98.24% 0.00% 139.84% 62.14%
Non US 		0.00% 0.00% 13.35% 17.48%

FRHIX - Expenses

Operational Fees

FRHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.21% 3.79% 79.51%
Management Fee 0.45% 0.00% 1.41% 27.27%
12b-1 Fee 0.10% 0.00% 1.00% 22.52%
Administrative Fee 0.15% 0.02% 0.35% 67.21%

Sales Fees

FRHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.50% 1.00% 4.50% 60.47%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FRHIX 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.

FRHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.70% 2.00% 121.00% 44.27%

FRHIX - Distributions

Dividend Yield Analysis

FRHIX Category Low Category High FRHIX % Rank
Dividend Yield 4.74% 0.00% 4.79% 17.22%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FRHIX Category Low Category High FRHIX % Rank
Net Income Ratio 3.65% 1.11% 5.70% 22.97%

Capital Gain Distribution Analysis

FRHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

Distributions History

View More +

FRHIX - Fund Manager Analysis

Managers

Francisco Rivera

Start Date

Tenure

Tenure Rank

Dec 31, 2004

17.42

17.4%

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 25, 2009

12.52

12.5%

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.

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.

James Conn

Start Date

Tenure

Tenure Rank

Nov 02, 2020

1.58

1.6%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52

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