Franklin MI Tax-Free Inc A (FMQTX)
| Fund Assets | 651.69M |
| Expense Ratio | 0.83% |
| Min. Investment | $1,000 |
| Turnover | 12.42% |
| Dividend (ttm) | 0.32 |
| Dividend Yield | 2.96% |
| Dividend Growth | 0.44% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 10.37 |
| YTD Return | 0.13% |
| 1-Year Return | 0.19% |
| 5-Year Return | -1.26% |
| 52-Week Low | 9.98 |
| 52-Week High | 10.69 |
| Beta (5Y) | n/a |
| Holdings | 227 |
| Inception Date | Sep 10, 2018 |
About FMQTX
Franklin Michigan Tax-Free Income Fund Class A is a municipal bond mutual fund designed to provide investors with a high level of income that is exempt from both federal income taxes and Michigan state personal income taxes. The fund primarily invests at least 80% of its assets in municipal securities whose interest payments are free from federal and Michigan state taxes, including the federal alternative minimum tax. Its portfolio consists largely of investment-grade bonds rated in the top four categories by nationally recognized agencies, promoting both income generation and capital preservation. With over 200 holdings, the fund is diversified across several sectors such as local government, housing, education, health care, and utilities, with the vast majority of assets concentrated in Michigan-based issuers. Serving investors seeking tax-efficient income, Franklin Michigan Tax-Free Income Fund Class A maintains a below-average risk profile within the muni single state long category, and offers monthly income distributions. The fund appeals to residents of Michigan looking for federally and state tax-exempt fixed-income solutions as part of their broader investment strategy.
Performance
FMQTX had a total return of 0.19% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.55%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
Top 10 Holdings
17.21% of assets| Name | Symbol | Weight |
|---|---|---|
| Cash - Currency | n/a | 2.17% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 04.15.2041 | 1.87% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 11.01.2044 | 1.81% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% | PR.PRCGEN 5 07.01.2058 | 1.81% |
| TRENTON MICH PUB SCHS SCH DIST 5% | MI.TRESCD 5 05.01.2045 | 1.77% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 05.15.2054 | 1.65% |
| MICHIGAN ST HOSP FIN AUTH REV 5% | MI.MISMED 5 11.15.2047 | 1.59% |
| LANSING MICH 5% | MI.LAN 5 06.01.2048 | 1.54% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 10.15.2046 | 1.53% |
| LANSING MICH BRD WTR & LT UTIL SYS REV 5% | MI.LANUTL 5 07.01.2054 | 1.47% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 29, 2025 | $0.02854 | Aug 29, 2025 |
| Jul 31, 2025 | $0.02833 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02648 | Jun 30, 2025 |
| May 30, 2025 | $0.02783 | May 30, 2025 |
| Apr 30, 2025 | $0.02671 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02507 | Mar 31, 2025 |