Franklin Alabama Tax Free Income Fund Class A1 (FRALX)

Fund Assets	168.09M
Expense Ratio	0.75%
Min. Investment	$1,000
Turnover	14.27%
Dividend (ttm)	0.30
Dividend Yield	2.84%
Dividend Growth	7.18%
Payout Frequency	Monthly
Ex-Dividend Date	Jan 30, 2026

Previous Close	10.22
YTD Return	1.01%
1-Year Return	4.63%
5-Year Return	1.29%
52-Week Low	9.75
52-Week High	10.63
Beta (5Y)	0.34
Holdings	103
Inception Date	Sep 1, 1987

About FRALX

Franklin Alabama Tax-Free Income Fund Class A1 is a single-state municipal bond mutual fund focused on delivering a high level of income exempt from regular federal income taxes and Alabama personal income taxes. The fund primarily invests in investment-grade bonds issued by Alabama state and local governments and related authorities to finance public projects, aligning with the Muni Single State Long category that typically holds longer-duration portfolios. Its mandate emphasizes maintaining at least 80% of assets in securities whose interest is federally tax-exempt, including from the alternative minimum tax. The portfolio’s exposures span essential-service and public-institution issuers such as water and sewer systems, universities, healthcare, and local government revenue bonds, reflecting the state’s infrastructure and public finance needs. This fund serves investors seeking state-specific tax efficiency and municipal bond diversification within Alabama, balancing credit quality considerations with interest rate sensitivity characteristic of longer-duration muni strategies.

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

Performance

FRALX had a total return of 4.63% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.77%.

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
FALRX	Class R6	0.62%
FALZX	Advisor Class	0.65%
FALQX	Class A	0.90%
FALEX	Class C	1.30%

Dividend History

Ex-Dividend	Amount	Pay Date
Jan 30, 2026	$0.02627	Jan 30, 2026
Dec 31, 2025	$0.02751	Dec 31, 2025
Nov 28, 2025	$0.02316	Nov 28, 2025
Oct 31, 2025	$0.02762	Oct 31, 2025
Sep 30, 2025	$0.02422	Sep 30, 2025
Aug 29, 2025	$0.02673	Aug 29, 2025