Franklin Alabama Tax Free Income Fund Class A1 (FRALX)

Fund Assets	166.84M
Expense Ratio	0.75%
Min. Investment	$1,000
Turnover	15.17%
Dividend (ttm)	0.32
Dividend Yield	3.16%
Dividend Growth	9.09%
Payout Frequency	Monthly
Ex-Dividend Date	Jul 31, 2026

Previous Close	10.01
YTD Return	0.45%
1-Year Return	5.38%
5-Year Return	1.28%
52-Week Low	9.79
52-Week High	10.30
Beta (5Y)	0.32
Holdings	107
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 5.38% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.39%.

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
Jul 31, 2026	$0.02946	Jul 31, 2026
Jun 30, 2026	$0.02638	Jun 30, 2026
May 29, 2026	$0.02619	May 29, 2026
Apr 30, 2026	$0.02672	Apr 30, 2026
Mar 31, 2026	$0.028	Mar 31, 2026
Feb 27, 2026	$0.02422	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 28, 2026

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