Franklin Massachusetts Tax-Free Income Fund Class A1 (FMISX)

Fund Assets	331.41M
Expense Ratio	0.75%
Min. Investment	$1,000
Turnover	21.12%
Dividend (ttm)	0.34
Dividend Yield	3.26%
Dividend Growth	8.42%
Payout Frequency	Monthly
Ex-Dividend Date	Jul 31, 2026

Previous Close	10.37
YTD Return	0.45%
1-Year Return	5.41%
5-Year Return	0.12%
52-Week Low	10.14
52-Week High	10.64
Beta (5Y)	0.30
Holdings	122
Inception Date	Apr 3, 1985

About FMISX

Franklin Massachusetts Tax-Free Income Fund Class A1 is a municipal bond mutual fund designed to provide investors with a high level of income that is exempt from both federal and Massachusetts state personal income taxes. The fund primarily invests—under normal market conditions—at least 80% of its assets in securities whose interest payments are free from regular federal income taxes, including the federal alternative minimum tax. Focusing on bonds issued by entities within Massachusetts, the fund plays a vital role in supporting state and municipal projects, with holdings spanning sectors such as education, water resources, transportation, and health facilities. Managed by Franklin Templeton, the fund features a moderate credit quality and interest rate sensitivity profile, making it suitable for investors seeking stable, tax-advantaged income. It is notably available only to existing Class A1 shareholders and emphasizes compliance with regulatory requirements for municipal debt funds. The fund contributes to state-level infrastructure and capital improvements while offering a specialized solution for Massachusetts residents aiming to optimize their after-tax income through municipal bond exposure.

• Fund Family: Franklin Templeton Investments
• Category: Muni Massachusetts
• Performance Rating: Average
• Risk Rating: Above Average
• Stock Exchange: NASDAQ
• Ticker Symbol: FMISX
• Share Class: Class A1
• Index: Bloomberg Municipal Bond TR

Performance

FMISX had a total return of 5.41% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.94%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FDMMX	Fidelity	Fidelity Massachusetts Municipal Income Fund	0.44%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FKTMX	Class R6	0.60%
FMAHX	Advisor Class	0.65%
FMAQX	Class A	0.90%
FMAIX	Class C	1.30%

Dividend History

Ex-Dividend	Amount	Pay Date
Jul 31, 2026	$0.03086	Jul 31, 2026
Jun 30, 2026	$0.02792	Jun 30, 2026
May 29, 2026	$0.02812	May 29, 2026
Apr 30, 2026	$0.02785	Apr 30, 2026
Mar 31, 2026	$0.02929	Mar 31, 2026
Feb 27, 2026	$0.02582	Feb 27, 2026

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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