Franklin MI Tax-Free Inc R6 (FKTNX)
| Fund Assets | 666.51M |
| Expense Ratio | 0.55% |
| Min. Investment | $1,000,000 |
| Turnover | 12.42% |
| Dividend (ttm) | 0.35 |
| Dividend Yield | 3.36% |
| Dividend Growth | 2.37% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Nov 28, 2025 |
| Previous Close | 10.49 |
| YTD Return | 2.98% |
| 1-Year Return | 3.67% |
| 5-Year Return | 1.38% |
| 52-Week Low | 9.77 |
| 52-Week High | 10.52 |
| Beta (5Y) | n/a |
| Holdings | 229 |
| Inception Date | Aug 1, 2017 |
About FKTNX
Franklin Michigan Tax-Free Income Fund Class R6 is a municipal bond mutual fund designed to provide shareholders with a high level of income that is exempt from both regular federal and Michigan state personal income taxes. The fund primarily invests at least 80% of its assets in municipal securities whose interest payments qualify for tax exemption under current federal and Michigan tax laws, including exemption from the federal alternative minimum tax. Its investment strategy emphasizes prudent management while maintaining a focus on capital preservation. This fund is particularly relevant to investors residing in Michigan who seek to maximize after-tax income through exposure to high-quality, tax-advantaged municipal bonds issued by local governments, agencies, and authorities within the state. The Franklin Michigan Tax-Free Income Fund Class R6 plays a specialized role in the broader fixed-income market by catering to the tax efficiency needs of Michigan-based investors and those prioritizing municipal bond diversification within their portfolios.
Performance
FKTNX had a total return of 3.67% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.95%.
Top 10 Holdings
16.61% of assets| Name | Symbol | Weight |
|---|---|---|
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% | PR.PRCGEN 5 07.01.2058 | 1.90% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 11.01.2044 | 1.83% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 04.15.2041 | 1.82% |
| TRENTON MICH PUB SCHS SCH DIST 5% | MI.TRESCD 5 05.01.2045 | 1.78% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 05.15.2054 | 1.68% |
| LANSING MICH 5% | MI.LAN 5 06.01.2048 | 1.58% |
| MICHIGAN ST HOSP FIN AUTH REV 5% | MI.MISMED 5 11.15.2047 | 1.56% |
| LANSING MICH BRD WTR & LT UTIL SYS REV 5% | MI.LANUTL 5 07.01.2054 | 1.51% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 10.15.2046 | 1.49% |
| WAYNE ST UNIV MICH UNIV REVS 4% | MI.WAYHGR 4 11.15.2048 | 1.44% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Nov 28, 2025 | $0.02783 | Nov 28, 2025 |
| Oct 31, 2025 | $0.03235 | Oct 31, 2025 |
| Sep 30, 2025 | $0.02878 | Sep 30, 2025 |
| Aug 29, 2025 | $0.03102 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03073 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02874 | Jun 30, 2025 |