Franklin Michigan Tax-Free Income Fund Class C (FRMTX)
| Fund Assets | 660.70M |
| Expense Ratio | 1.22% |
| Min. Investment | $1,000 |
| Turnover | 12.42% |
| Dividend (ttm) | 0.27 |
| Dividend Yield | 2.68% |
| Dividend Growth | 0.42% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jun 30, 2025 |
| Previous Close | 10.22 |
| YTD Return | -3.23% |
| 1-Year Return | -1.86% |
| 5-Year Return | -6.45% |
| 52-Week Low | 10.13 |
| 52-Week High | 10.85 |
| Beta (5Y) | 0.25 |
| Holdings | 226 |
| Inception Date | May 1, 1995 |
About FRMTX
Franklin Michigan Tax-Free Income Fund Class C is a municipal bond mutual fund focused on delivering a high level of income that is exempt from both federal income taxes and Michigan state personal income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by Michigan state and local governments, using at least 80% of its assets for this purpose. By concentrating on Michigan municipal bonds, the fund supports essential public projects within the state, such as infrastructure and community development. It appeals to investors seeking tax-advantaged income, particularly Michigan residents, and is structured to provide capital preservation alongside modest income potential. With a monthly dividend payout, the fund plays a specialized role in the market as a single-state muni fund, offering targeted exposure to Michigan's municipal debt sector and serving as a tool for managing tax efficiency in fixed income portfolios. Established in 1995, it is managed by Franklin Templeton, a firm recognized for its focus on municipal bond strategies.
Performance
FRMTX had a total return of -1.86% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.93%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
Top 10 Holdings
16.87% of assets| Name | Symbol | Weight |
|---|---|---|
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% | PR.PRCGEN 5 07.01.2058 | 1.85% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 04.15.2041 | 1.84% |
| Usd | n/a | 1.84% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 11.01.2044 | 1.82% |
| TRENTON MICH PUB SCHS SCH DIST 5% | MI.TRESCD 5 05.01.2045 | 1.76% |
| MICHIGAN FIN AUTH REV 5% | MI.MISFIN 5 05.15.2054 | 1.66% |
| MICHIGAN ST HOSP FIN AUTH REV 5% | MI.MISMED 5 11.15.2047 | 1.57% |
| LANSING MICH 5% | MI.LAN 5 06.01.2048 | 1.54% |
| MICHIGAN ST BLDG AUTH REV 5% | MI.MISFAC 5 10.15.2046 | 1.52% |
| LANSING MICH BRD WTR & LT UTIL SYS REV 5% | MI.LANUTL 5 07.01.2054 | 1.47% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jun 30, 2025 | $0.02316 | Jun 30, 2025 |
| May 30, 2025 | $0.02415 | May 30, 2025 |
| Apr 30, 2025 | $0.02324 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02167 | Mar 31, 2025 |
| Feb 28, 2025 | $0.02075 | Feb 28, 2025 |
| Jan 31, 2025 | $0.02426 | Jan 31, 2025 |