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FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND
mutual fund
FITZX
Payout Change
Pending
Price as of:
$11.24
+0.02
+0.18%
primary theme
Municipal Bond
share class
FITZX (Mutual Fund)
FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$11.24
+0.02
+0.18%
primary theme
Municipal Bond
share class
FITZX (Mutual Fund)
FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$11.24
+0.02
+0.18%
primary theme
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
$11.24
$2.11 B
3.25%
$0.36
0.57%
Vitals
YTD Return
2.4%
1 yr return
2.6%
3 Yr Avg Return
-0.2%
5 Yr Avg Return
0.9%
Net Assets
$2.11 B
Holdings in Top 10
10.3%
52 WEEK LOW AND HIGH
$11.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.57%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 22.05%
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
$11.24
$2.11 B
3.25%
$0.36
0.57%
FITZX - Profile
Distributions
- YTD Total Return 2.4%
- 3 Yr Annualized Total Return -0.2%
- 5 Yr Annualized Total Return 0.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.14%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateAug 06, 2009
-
Shares Outstanding83874299
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames Conn
Fund Description
Under normal market conditions, the Fund invests at least 80% of its total 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 total 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.
Although the Fund does not have restrictions on the maturity of the securities it may buy, the Fund does maintain a dollar-weighted average portfolio maturity of six to 12 years.
The Fund only buys municipal securities rated, at the time of purchase, in one of the top four ratings categories by one or more U.S. nationally recognized rating services (or unrated or short-term rated securities of comparable credit quality).
The Fund does not necessarily focus its investments in a particular state. 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.
FITZX - Performance
Return Ranking - Trailing
| Period | FITZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.4% | -6.1% | 36.1% | 19.27% |
| 1 Yr | 2.6% | -6.0% | 38.2% | 16.12% |
| 3 Yr | -0.2%* | -11.5% | 5.9% | 21.65% |
| 5 Yr | 0.9%* | -7.2% | 1103.7% | 30.27% |
| 10 Yr | 1.6%* | -1.1% | 248.9% | 49.91% |
* Annualized
Return Ranking - Calendar
| Period | FITZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.7% | -1.4% | 41.0% | 51.99% |
| 2022 | -10.0% | -39.7% | 0.3% | 35.63% |
| 2021 | -1.3% | -5.6% | 6.9% | 86.25% |
| 2020 | 2.0% | -2.6% | 310.0% | 38.03% |
| 2019 | 2.1% | 0.0% | 26.0% | 88.70% |
Total Return Ranking - Trailing
| Period | FITZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.4% | -6.1% | 36.1% | 19.27% |
| 1 Yr | 2.6% | -6.0% | 38.2% | 16.12% |
| 3 Yr | -0.2%* | -11.5% | 5.9% | 21.65% |
| 5 Yr | 0.9%* | -7.2% | 1103.7% | 30.27% |
| 10 Yr | 1.6%* | -1.1% | 248.9% | 49.91% |
* Annualized
Total Return Ranking - Calendar
| Period | FITZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.0% | -1.3% | 41.0% | 43.64% |
| 2022 | -7.7% | -39.7% | 1.1% | 32.97% |
| 2021 | 1.1% | -4.8% | 23761504.0% | 61.31% |
| 2020 | 4.0% | -1.5% | 17057.9% | 40.34% |
| 2019 | 5.2% | 0.2% | 3514.6% | 78.33% |
NAV & Total Return History
FITZX - Holdings
Concentration Analysis
| FITZX | Category Low | Category High | FITZX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.11 B | 3.22 M | 71.9 B | 16.13% |
| Number of Holdings | 635 | 4 | 13418 | 18.60% |
| Net Assets in Top 10 | 220 M | -317 M | 3.09 B | 17.33% |
| Weighting of Top 10 | 10.35% | 1.8% | 100.3% | 79.91% |
Top 10 Holdings
- Franklin Municipal Green Bond ETF 1.77%
- Patriots Energy Group Financing Agency, Series 2023 A-1 1.40%
- Tennergy Corp., Series 2022 A 1.12%
- State of Hawaii, Series EO 1.02%
- Texas Municipal Gas Acquisition Supply Corp. IV, Series 2023 A 0.99%
- Florida Development Finance Corp., Series 2024 0.99%
- New Jersey Economic Development Authority, Series 2022 A 0.83%
- San Francisco City County Airport Comm-San Francisco International Airport, Series 2023 C 0.79%
- Indianapolis Local Public Improvement Bond Bank, Series 2021 A 0.72%
- Southeast Energy Authority A Cooperative District, Series 2022 B-2 0.72%
Asset Allocation
| Weighting | Return Low | Return High | FITZX % Rank | |
|---|---|---|---|---|
| Bonds | 97.34% | 0.00% | 150.86% | 77.05% |
| Cash | 0.89% | -50.86% | 44.62% | 54.26% |
| Stocks | 0.00% | 0.00% | 99.77% | 19.60% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 6.72% |
| Other | 0.00% | -3.69% | 53.54% | 19.61% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 5.87% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FITZX % Rank | |
|---|---|---|---|---|
| Municipal | 99.76% | 44.39% | 100.00% | 21.85% |
| Cash & Equivalents | 0.17% | 0.00% | 44.41% | 49.03% |
| Derivative | 0.00% | -3.69% | 53.54% | 17.53% |
| Securitized | 0.00% | 0.00% | 5.93% | 7.75% |
| Corporate | 0.00% | 0.00% | 9.41% | 23.94% |
| Government | 0.00% | 0.00% | 52.02% | 13.15% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FITZX % Rank | |
|---|---|---|---|---|
| US | 97.34% | 0.00% | 142.23% | 74.55% |
| Non US | 0.00% | 0.00% | 23.89% | 10.54% |
FITZX - Expenses
Operational Fees
| FITZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.57% | 0.01% | 8.02% | 71.91% |
| Management Fee | 0.46% | 0.00% | 1.20% | 65.64% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.01% | 0.44% | 55.90% |
Sales Fees
| FITZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| FITZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
| FITZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 22.05% | 0.00% | 283.00% | 65.37% |
FITZX - Distributions
Dividend Yield Analysis
| FITZX | Category Low | Category High | FITZX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.25% | 0.00% | 14.51% | 44.90% |
Dividend Distribution Analysis
| FITZX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FITZX | Category Low | Category High | FITZX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.14% | -0.53% | 5.33% | 39.36% |
Capital Gain Distribution Analysis
| FITZX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.030 | OrdinaryDividend |
| Oct 31, 2024 | $0.030 | OrdinaryDividend |
| Sep 30, 2024 | $0.027 | OrdinaryDividend |
| Aug 30, 2024 | $0.032 | OrdinaryDividend |
| Jul 31, 2024 | $0.029 | OrdinaryDividend |
| Apr 30, 2024 | $0.028 | OrdinaryDividend |
| Mar 28, 2024 | $0.028 | OrdinaryDividend |
| Feb 29, 2024 | $0.027 | OrdinaryDividend |
| Jan 31, 2024 | $0.027 | OrdinaryDividend |
| Dec 29, 2023 | $0.030 | OrdinaryDividend |
| Nov 30, 2023 | $0.027 | OrdinaryDividend |
| Oct 31, 2023 | $0.027 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.025 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.027 | OrdinaryDividend |
| Apr 28, 2023 | $0.024 | OrdinaryDividend |
| Mar 31, 2023 | $0.028 | OrdinaryDividend |
| Feb 28, 2023 | $0.024 | OrdinaryDividend |
| Jan 31, 2023 | $0.023 | OrdinaryDividend |
| Dec 30, 2022 | $0.026 | OrdinaryDividend |
| Nov 30, 2022 | $0.023 | OrdinaryDividend |
| Oct 31, 2022 | $0.022 | OrdinaryDividend |
| Sep 30, 2022 | $0.023 | OrdinaryDividend |
| Aug 31, 2022 | $0.022 | OrdinaryDividend |
| Jul 29, 2022 | $0.022 | OrdinaryDividend |
| Jun 30, 2022 | $0.021 | OrdinaryDividend |
| May 31, 2022 | $0.021 | OrdinaryDividend |
| Apr 29, 2022 | $0.022 | OrdinaryDividend |
| Mar 31, 2022 | $0.023 | OrdinaryDividend |
| Feb 28, 2022 | $0.020 | OrdinaryDividend |
| Jan 31, 2022 | $0.020 | OrdinaryDividend |
| Dec 31, 2021 | $0.024 | OrdinaryDividend |
| Nov 30, 2021 | $0.022 | OrdinaryDividend |
| Oct 29, 2021 | $0.020 | OrdinaryDividend |
| Sep 30, 2021 | $0.021 | OrdinaryDividend |
| Aug 31, 2021 | $0.023 | OrdinaryDividend |
| Jul 30, 2021 | $0.022 | OrdinaryDividend |
| Jun 30, 2021 | $0.024 | OrdinaryDividend |
| May 28, 2021 | $0.020 | OrdinaryDividend |
| Apr 30, 2021 | $0.023 | OrdinaryDividend |
| Mar 31, 2021 | $0.025 | OrdinaryDividend |
| Feb 26, 2021 | $0.022 | OrdinaryDividend |
| Jan 29, 2021 | $0.032 | OrdinaryDividend |
| Dec 31, 2020 | $0.024 | OrdinaryDividend |
| Nov 30, 2020 | $0.024 | OrdinaryDividend |
| Oct 30, 2020 | $0.024 | OrdinaryDividend |
| Sep 30, 2020 | $0.024 | OrdinaryDividend |
| Aug 31, 2020 | $0.025 | OrdinaryDividend |
| Jul 31, 2020 | $0.025 | OrdinaryDividend |
| Jun 30, 2020 | $0.026 | OrdinaryDividend |
| Apr 30, 2020 | $0.024 | OrdinaryDividend |
| Mar 31, 2020 | $0.025 | OrdinaryDividend |
| Dec 31, 2019 | $0.025 | OrdinaryDividend |
| Nov 29, 2019 | $0.024 | OrdinaryDividend |
| Oct 31, 2019 | $0.025 | OrdinaryDividend |
| Sep 30, 2019 | $0.026 | OrdinaryDividend |
| Aug 30, 2019 | $0.025 | OrdinaryDividend |
| Jul 31, 2019 | $0.028 | OrdinaryDividend |
FITZX - Fund Manager Analysis
Managers
James Conn
Start Date
Tenure
Tenure Rank
Dec 31, 1999
22.43
22.4%
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.
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.
Francisco Rivera
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
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 02, 2020
1.58
1.6%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
