Franklin MI Tax-Free Inc Adv (FMTFX)
| Fund Assets | 651.69M |
| Expense Ratio | 0.58% |
| Min. Investment | $1,000 |
| Turnover | 12.42% |
| Dividend (ttm) | 0.34 |
| Dividend Yield | 3.31% |
| Dividend Growth | 0.33% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 10.40 |
| YTD Return | 0.12% |
| 1-Year Return | 0.30% |
| 5-Year Return | -0.26% |
| 52-Week Low | 10.00 |
| 52-Week High | 10.71 |
| Beta (5Y) | n/a |
| Holdings | 227 |
| Inception Date | Jul 1, 2008 |
About FMTFX
Franklin Michigan Tax-Free Income Fund Advisor Class is a municipal bond mutual fund designed to provide investors with a high level of income exempt from both federal and Michigan state personal income taxes. Focusing on prudent investment management and capital preservation, the fund allocates at least 80% of its assets to securities whose interest is tax-free at the federal and state level, primarily targeting issuers within the state of Michigan. This fund is frequently utilized by investors seeking to maximize after-tax income, particularly those residing in Michigan or with significant exposure to Michigan state tax liabilities. With a broad portfolio encompassing over 200 holdings, the fund distributes income on a monthly basis and features a moderate expense ratio. Notably, it has received distinguished ratings for risk-adjusted performance within its category, reflecting its consistent approach and relevance for tax-sensitive income-focused strategies. The fund plays a key role in supporting Michigan’s public infrastructure while offering investors a method to achieve tax-efficient income generation through municipal bonds.
Performance
FMTFX had a total return of 0.30% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.13%.
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 | $0.03075 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03047 | Jul 31, 2025 |
| Jun 30, 2025 | $0.0285 | Jun 30, 2025 |
| May 30, 2025 | $0.03007 | May 30, 2025 |
| Apr 30, 2025 | $0.02881 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02714 | Mar 31, 2025 |