Franklin Michigan Tax-Free Income Fund Class C (FRMTX)

Fund Assets	726.66M
Expense Ratio	1.22%
Min. Investment	$1,000
Turnover	n/a
Dividend (ttm)	0.27
Dividend Yield	2.61%
Dividend Growth	0.74%
Payout Frequency	Monthly
Ex-Dividend Date	Mar 31, 2025

Previous Close	10.33
YTD Return	-1.81%
1-Year Return	1.66%
5-Year Return	-1.30%
52-Week Low	n/a
52-Week High	n/a
Beta (5Y)	0.23
Holdings	235
Inception Date	May 1, 1995

About FRMTX

The Franklin Michigan Tax-Free Income Fund Class C (FRMTX) seeks to provide a high level of income exempt from federal income taxes and Michigan State personal income taxes. Under normal market conditions, the Fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes as well as Michigan state taxes.

• Fund Family: Franklin C1
• Category: Muni Single State Long
• Performance Rating: Below Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: FRMTX
• Share Class: Class C
• Index: Bloomberg Municipal Bond TR

Performance

FRMTX had a total return of 1.66% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.00%.

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
FKTNX	Class R6	0.55%
FMTFX	Advisor Class	0.58%
FTTMX	Class A1	0.68%
FMQTX	Class A	0.83%

Top 10 Holdings

16.62% of assets

Name	Symbol	Weight
PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%	PR PRCGEN 5 07.01.2058	1.88%
MICHIGAN ST BLDG AUTH REV 5%	MI MISFAC 5 04.15.2041	1.82%
MICHIGAN FIN AUTH REV 5%	MI MISFIN 5 11.01.2044	1.79%
TRENTON MICH PUB SCHS SCH DIST 5%	MI TRESCD 5 05.01.2045	1.75%
MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV 3.1%	MI MISHSG 3.1 12.01.2044	1.74%
MICHIGAN FIN AUTH REV 5%	MI MISFIN 5 05.15.2054	1.64%
LANSING MICH 5%	MI LAN 5 06.01.2048	1.54%
MICHIGAN ST HOSP FIN AUTH REV 5%	MI MISMED 5 11.15.2047	1.53%
MICHIGAN ST BLDG AUTH REV 5%	MI MISFAC 5 10.15.2046	1.49%
LANSING MICH BRD WTR & LT UTIL SYS REV 5%	MI LANUTL 5 07.01.2054	1.46%

Dividend History

Ex-Dividend	Amount	Pay Date
Mar 31, 2025	$0.02167	Mar 31, 2025
Feb 28, 2025	$0.02075	Feb 28, 2025
Jan 31, 2025	$0.02426	Jan 31, 2025
Dec 31, 2024	$0.02317	Dec 31, 2024
Nov 29, 2024	$0.02253	Nov 29, 2024
Oct 31, 2024	$0.02283	Oct 31, 2024