Franklin MI Tax-Free Inc Adv (FMTFX)

Fund Assets	597.46M
Expense Ratio	0.59%
Min. Investment	$1,000
Turnover	14.13%
Dividend (ttm)	0.37
Dividend Yield	3.67%
Dividend Growth	5.75%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	9.89
YTD Return	-3.19%
1-Year Return	-2.16%
5-Year Return	-0.93%
52-Week Low	9.72
52-Week High	10.61
Beta (5Y)	0.02
Holdings	236
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.

• Fund Family: Franklin Templeton, Inc
• Category: Other States Muni
• Performance Rating: Above Average
• Risk Rating: Below Average
• Stock Exchange: Nasdaq
• Ticker Symbol: FMTFX
• Share Class: Advisor Class
• Index: Bloomberg Municipal Bond TR

Performance

FMTFX had a total return of -2.16% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.04%.

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	0.57%
FICNX	Fidelity	Fidelity Connecticut Municipal Income Fund	0.46%
FMHTX	Fidelity	Fidelity Michigan Municipal Income Fund	0.45%

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%
FTTMX	Class A1	0.70%
FMQTX	Class A	0.84%
FRMTX	Class C	1.24%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.03022	Sep 30, 2026
Aug 31, 2026	$0.02933	Aug 31, 2026
Jul 31, 2026	$0.03333	Jul 31, 2026
Jun 30, 2026	$0.03055	Jun 30, 2026
May 29, 2026	$0.03025	May 29, 2026
Apr 30, 2026	$0.03163	Apr 30, 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:

Oct 16, 2026

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