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FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
mutual fund
FHYVX
Payout Change
Pending
Price as of:
$8.96
+0.03
+0.34%
primary theme
High Yield Municipal Bond
share class
FHYVX (Mutual Fund)
FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$8.96
+0.03
+0.34%
primary theme
High Yield Municipal Bond
share class
FHYVX (Mutual Fund)
FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$8.96
+0.03
+0.34%
primary theme
High Yield Municipal Bond
share class
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.2%
1 yr return
6.5%
3 Yr Avg Return
-0.9%
5 Yr Avg Return
1.2%
Net Assets
$4.93 B
Holdings in Top 10
14.5%
52 WEEK LOW AND HIGH
$8.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.57%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 18.70%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
FHYVX - Profile
Distributions
- YTD Total Return 6.2%
- 3 Yr Annualized Total Return -0.9%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.73%
- Dividend Yield 4.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFRANKLIN HIGH YIELD TAX-FREE INCOME FUND
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateOct 05, 2006
-
Shares Outstanding111925541
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerFrancisco Rivera
Fund Description
Under normal market conditions, the Fund invests at least 80% of its net assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. Although the Fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of the Fund's net assets may be in
securities that pay interest that may be subject to the federal alternative minimum tax and in securities that pay interest subject to other federal or state income taxes.
The Fund may invest in municipal securities rated in any rating category (or unrated or short-term rated securities of comparable credit quality), including defaulted securities.
The Fund does not necessarily focus its investments in a particular state or territory, and will not invest more than 25% of its total assets in municipal securities of any one state or territory. The Fund may invest up to 35% of its total assets in municipal securities issued by U.S. territories.
Although the investment manager will search for investments across a large number of municipal securities that finance different types of projects, from time to time, based on economic conditions, the Fund may have significant positions in municipal securities that finance similar types of projects.
The investment manager selects securities that it believes will provide the best balance between risk and return within the Fund’s range of allowable investments and typically invests with a long-term time horizon. This means it generally holds securities in the Fund’s portfolio for income purposes, although the investment manager may sell a security at any time if it believes it could help the Fund meet its goal. With a focus on income, individual securities are considered for purchase or sale based on various factors and considerations, including credit profile, risk, structure, pricing, portfolio impact, duration management, restructuring, opportunistic trading and tax loss harvesting opportunities.
When selecting securities for the Fund’s portfolio, the investment manager may consider existing market conditions, the availability of lower-rated securities, and whether the difference in yields between higher and lower-rated securities justifies the higher risk of lower-rated securities.
FHYVX - Performance
Return Ranking - Trailing
| Period | FHYVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.2% | -3.1% | 12.1% | 9.95% |
| 1 Yr | 6.5% | -2.2% | 12.7% | 7.46% |
| 3 Yr | -0.9%* | -9.0% | 3.6% | 35.20% |
| 5 Yr | 1.2%* | -5.1% | 3.5% | 30.26% |
| 10 Yr | 2.4%* | -0.7% | 155.3% | 60.63% |
* Annualized
Return Ranking - Calendar
| Period | FHYVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.6% | -6.2% | 7.5% | 79.21% |
| 2022 | -17.4% | -26.9% | -3.5% | 57.29% |
| 2021 | 1.3% | -1.9% | 5.6% | 73.60% |
| 2020 | 1.7% | -4.0% | 4.2% | 19.39% |
| 2019 | 3.1% | -0.7% | 9.1% | 94.74% |
Total Return Ranking - Trailing
| Period | FHYVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.2% | -3.1% | 12.1% | 9.95% |
| 1 Yr | 6.5% | -2.2% | 12.7% | 7.46% |
| 3 Yr | -0.9%* | -9.0% | 3.6% | 35.20% |
| 5 Yr | 1.2%* | -5.1% | 3.5% | 30.26% |
| 10 Yr | 2.4%* | -0.7% | 155.3% | 60.63% |
* Annualized
Total Return Ranking - Calendar
| Period | FHYVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.9% | -4.1% | 10.9% | 50.50% |
| 2022 | -13.6% | -26.9% | 4.3% | 45.73% |
| 2021 | 5.3% | -1.9% | 10.0% | 53.81% |
| 2020 | 4.4% | -2.6% | 8.2% | 27.55% |
| 2019 | 8.2% | -0.7% | 1028633.9% | 57.89% |
NAV & Total Return History
FHYVX - Holdings
Concentration Analysis
| FHYVX | Category Low | Category High | FHYVX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.93 B | 3.1 M | 15.6 B | 20.00% |
| Number of Holdings | 1833 | 20 | 3325 | 14.07% |
| Net Assets in Top 10 | 717 M | -102 M | 1.96 B | 15.08% |
| Weighting of Top 10 | 14.51% | 4.6% | 98.9% | 37.69% |
Top 10 Holdings
- San Joaquin Hills Transportation Corridor Agency 2.39%
- San Joaquin Hills Transportation Corridor Agency 2.15%
- Grand Canyon University 1.76%
- Vanguard Tax-Exempt Bond Index ETF 1.69%
- Public Authority for Colorado Energy, Series 2008 1.51%
- Puerto Rico Sales Tax Financing Corp., Series A-1 1.14%
- Puerto Rico Sales Tax Financing Corp., Series A-1 1.03%
- San Joaquin Hills Transportation Corridor Agency, Series 1997 A 0.99%
- San Joaquin Hills Transportation Corridor Agency, Series 1997 A 0.99%
- San Mateo Foster City School District, Series A 0.88%
Asset Allocation
| Weighting | Return Low | Return High | FHYVX % Rank | |
|---|---|---|---|---|
| Bonds | 93.23% | 0.00% | 146.69% | 92.57% |
| Cash | 4.55% | -0.64% | 10.86% | 8.54% |
| Stocks | 0.10% | 0.00% | 99.72% | 14.36% |
| Preferred Stocks | 0.00% | -47.61% | 0.00% | 64.82% |
| Other | 0.00% | -5.67% | 5.07% | 63.32% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 61.31% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FHYVX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 0.00% | N/A |
| Technology | 0.00% | 0.00% | 0.00% | N/A |
| Real Estate | 0.00% | 0.00% | 0.00% | N/A |
| Industrials | 0.00% | 0.00% | 4.78% | N/A |
| Healthcare | 0.00% | 0.00% | 0.00% | N/A |
| Financial Services | 0.00% | 0.00% | 0.00% | N/A |
| Energy | 0.00% | 0.00% | 0.00% | N/A |
| Communication Services | 0.00% | 0.00% | 0.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 77.65% | N/A |
| Basic Materials | 0.00% | 17.58% | 100.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FHYVX % Rank | |
|---|---|---|---|---|
| US | 0.10% | 0.00% | 99.72% | 14.57% |
| Non US | 0.00% | 0.00% | 0.00% | 61.31% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FHYVX % Rank | |
|---|---|---|---|---|
| Municipal | 97.75% | 50.68% | 100.00% | 57.29% |
| Cash & Equivalents | 3.86% | 0.00% | 10.86% | 7.54% |
| Corporate | 1.76% | 0.00% | 2.83% | 7.54% |
| Derivative | 0.00% | -7.70% | 2.16% | 58.79% |
| Securitized | 0.00% | 0.00% | 22.44% | 62.81% |
| Government | 0.00% | 0.00% | 0.09% | 61.81% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FHYVX % Rank | |
|---|---|---|---|---|
| US | 93.23% | 0.00% | 139.84% | 89.95% |
| Non US | 0.00% | 0.00% | 13.35% | 65.83% |
FHYVX - Expenses
Operational Fees
| FHYVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.57% | 0.22% | 3.44% | 90.10% |
| Management Fee | 0.45% | 0.00% | 1.41% | 30.69% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.02% | 0.35% | 75.00% |
Sales Fees
| FHYVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.50% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| FHYVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| FHYVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 18.70% | 2.00% | 121.00% | 45.99% |
FHYVX - Distributions
Dividend Yield Analysis
| FHYVX | Category Low | Category High | FHYVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.60% | 0.00% | 5.94% | 10.89% |
Dividend Distribution Analysis
| FHYVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FHYVX | Category Low | Category High | FHYVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.73% | 1.11% | 5.44% | 20.30% |
Capital Gain Distribution Analysis
| FHYVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.034 | OrdinaryDividend |
| Oct 31, 2024 | $0.035 | OrdinaryDividend |
| Sep 30, 2024 | $0.031 | OrdinaryDividend |
| Aug 30, 2024 | $0.036 | OrdinaryDividend |
| Jul 31, 2024 | $0.035 | OrdinaryDividend |
| Apr 30, 2024 | $0.034 | OrdinaryDividend |
| Mar 28, 2024 | $0.035 | OrdinaryDividend |
| Feb 29, 2024 | $0.031 | OrdinaryDividend |
| Jan 31, 2024 | $0.034 | OrdinaryDividend |
| Dec 29, 2023 | $0.037 | OrdinaryDividend |
| Nov 30, 2023 | $0.034 | OrdinaryDividend |
| Oct 31, 2023 | $0.034 | OrdinaryDividend |
| Sep 29, 2023 | $0.035 | OrdinaryDividend |
| Aug 31, 2023 | $0.035 | OrdinaryDividend |
| Jul 31, 2023 | $0.033 | OrdinaryDividend |
| Jun 30, 2023 | $0.036 | OrdinaryDividend |
| May 31, 2023 | $0.035 | OrdinaryDividend |
| Apr 28, 2023 | $0.032 | OrdinaryDividend |
| Mar 31, 2023 | $0.038 | OrdinaryDividend |
| Feb 28, 2023 | $0.027 | OrdinaryDividend |
| Jan 31, 2023 | $0.031 | OrdinaryDividend |
| Dec 30, 2022 | $0.034 | OrdinaryDividend |
| Nov 30, 2022 | $0.031 | OrdinaryDividend |
| Oct 31, 2022 | $0.030 | OrdinaryDividend |
| Sep 30, 2022 | $0.032 | OrdinaryDividend |
| Aug 31, 2022 | $0.032 | OrdinaryDividend |
| Jul 29, 2022 | $0.032 | OrdinaryDividend |
| Jun 30, 2022 | $0.031 | OrdinaryDividend |
| May 31, 2022 | $0.031 | OrdinaryDividend |
| Apr 29, 2022 | $0.032 | OrdinaryDividend |
| Mar 31, 2022 | $0.033 | OrdinaryDividend |
| Feb 28, 2022 | $0.029 | OrdinaryDividend |
| Jan 31, 2022 | $0.030 | OrdinaryDividend |
| Dec 31, 2021 | $0.035 | OrdinaryDividend |
| Nov 30, 2021 | $0.032 | OrdinaryDividend |
| Oct 29, 2021 | $0.030 | OrdinaryDividend |
| Sep 30, 2021 | $0.031 | OrdinaryDividend |
| Aug 31, 2021 | $0.033 | OrdinaryDividend |
| Jul 30, 2021 | $0.031 | OrdinaryDividend |
| Jun 30, 2021 | $0.035 | OrdinaryDividend |
| May 28, 2021 | $0.029 | OrdinaryDividend |
| Apr 30, 2021 | $0.033 | OrdinaryDividend |
| Mar 31, 2021 | $0.037 | OrdinaryDividend |
| Feb 26, 2021 | $0.030 | OrdinaryDividend |
| Jan 29, 2021 | $0.026 | OrdinaryDividend |
| Dec 31, 2020 | $0.033 | OrdinaryDividend |
| Nov 30, 2020 | $0.034 | OrdinaryDividend |
| Oct 30, 2020 | $0.034 | OrdinaryDividend |
| Sep 30, 2020 | $0.033 | OrdinaryDividend |
| May 29, 2020 | $0.033 | OrdinaryDividend |
| Apr 30, 2020 | $0.034 | OrdinaryDividend |
| Jan 31, 2020 | $0.034 | OrdinaryDividend |
| Dec 31, 2019 | $0.035 | OrdinaryDividend |
| Nov 29, 2019 | $0.032 | OrdinaryDividend |
| Oct 31, 2019 | $0.034 | OrdinaryDividend |
| Sep 30, 2019 | $0.034 | OrdinaryDividend |
| Aug 30, 2019 | $0.033 | OrdinaryDividend |
| Jul 31, 2019 | $0.037 | OrdinaryDividend |
FHYVX - Fund Manager Analysis
Managers
Francisco Rivera
Start Date
Tenure
Tenure Rank
Dec 31, 2004
17.42
17.4%
Francisco Rivera,Vice President, has been a lead portfolio manager since 1996. He has primary responsibility for the investments. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He joined Franklin Templeton Investments in 1994.
Daniel Workman
Start Date
Tenure
Tenure Rank
Nov 25, 2009
12.52
12.5%
Daniel Workman, CFA, has been an analyst or portfolio manager since 2009,providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 2003.
Ben Barber
Start Date
Tenure
Tenure Rank
Aug 01, 2020
1.83
1.8%
Mr. Barber is is the Director of Franklin's Municipal Bond Department. Prior to joining Franklin Templeton, he was co-head of municipal bonds at Goldman Sachs Asset Management. He first joined Franklin Templeton in 1991 and rejoined again in April 2020.
James Conn
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Mr. Conn is a senior vice president and portfolio manager with Franklin Advisers, Inc, his employer since 1996. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated management requirements. Mr. Conn holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 21.43 | 7.58 | 2.52 |
