Franklin Michigan Tax-Free Income Fund Class A (FMQTX)

Fund Assets	657.92M
Expense Ratio	0.84%
Min. Investment	$100,000
Turnover	14.13%
Dividend (ttm)	0.34
Dividend Yield	3.29%
Dividend Growth	6.92%
Payout Frequency	Monthly
Ex-Dividend Date	Jul 31, 2026

Previous Close	10.34
YTD Return	0.67%
1-Year Return	5.76%
5-Year Return	0.76%
52-Week Low	10.08
52-Week High	10.58
Beta (5Y)	n/a
Holdings	229
Inception Date	n/a

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.

• Fund Family: Franklin Templeton Investments
• Category: Muni Single State Long
• Performance Rating: Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: FMQTX
• Share Class: Class A

Performance

FMQTX had a total return of 5.76% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.96%.

Equivalent Funds

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

Symbol	Provider	Name	Expense Ratio
FSAZX	Fidelity	Fidelity Arizona Municipal Income Fund	0.55%
FICNX	Fidelity	Fidelity Connecticut Municipal Income Fund	0.46%
FMHTX	Fidelity	Fidelity Michigan Municipal Income Fund	0.46%

Other Share Classes

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

Symbol	Share Class	Expense Ratio
FKTNX	Class R6	0.55%
FMTFX	Advisor Class	0.59%
FTTMX	Class A1	0.70%
FRMTX	Class C	1.24%

Dividend History

Ex-Dividend	Amount	Pay Date
Jul 31, 2026	$0.03097	Jul 31, 2026
Jun 30, 2026	$0.0284	Jun 30, 2026
May 29, 2026	$0.02803	May 29, 2026
Apr 30, 2026	$0.02948	Apr 30, 2026
Mar 31, 2026	$0.03026	Mar 31, 2026
Feb 27, 2026	$0.02562	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 22, 2026

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