About FRVZX
Franklin Virginia Tax-Free Income Fund – Advisor Class is an actively managed municipal bond mutual fund focused on generating income that is exempt from regular federal income taxes and Virginia personal income taxes. Under normal market conditions, the fund invests at least 80% of assets in municipal securities whose interest is tax free at the federal level and from Virginia state taxes, including issues structured to avoid the federal alternative minimum tax. The portfolio concentrates on Virginia municipal issuers across sectors such as general obligation, essential services, transportation, education, and healthcare, seeking broad coverage of the state and its revenue sources. Managed by Franklin Templeton’s municipal bond team, the strategy emphasizes credit research, diversification, and maturity structuring typical of single-state long municipal categories. The fund serves investors looking to align income needs with state-specific tax considerations, providing a vehicle to access Virginia’s tax-exempt debt market while maintaining professional oversight of credit quality, duration, and liquidity management. It plays a niche role in the U.S. municipal market by channeling capital to Virginia public finance projects and essential infrastructure while offering tax-advantaged income to Virginia residents.
Fund Family Franklin Templeton Investments
Category Muni Single State Long
Performance Rating Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol FRVZX
Share Class Advisor Class
Index Bloomberg Municipal Bond TR
FRVZX had a total return of 5.99% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.53%.
