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FRANKLIN VIRGINIA TAX-FREE INCOME FUND
mutual fund
FRVRX
Payout Change
Pending
Price as of:
$9.94
+0.02
+0.2%
primary theme
Municipal Bond
share class
FRVRX (Mutual Fund)
FRANKLIN VIRGINIA TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$9.94
+0.02
+0.2%
primary theme
Municipal Bond
share class
FRVRX (Mutual Fund)
FRANKLIN VIRGINIA TAX-FREE INCOME FUND
Payout Change
Pending
Price as of:
$9.94
+0.02
+0.2%
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
Vitals
YTD Return
2.0%
1 yr return
2.5%
3 Yr Avg Return
-1.3%
5 Yr Avg Return
0.1%
Net Assets
$414 M
Holdings in Top 10
18.5%
52 WEEK LOW AND HIGH
$9.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.58%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 34.49%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
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
FRVRX - Profile
Distributions
- YTD Total Return 2.0%
- 3 Yr Annualized Total Return -1.3%
- 5 Yr Annualized Total Return 0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.00%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFRANKLIN VIRGINIA TAX-FREE INCOME FUND
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateAug 01, 2017
-
Shares Outstanding662185
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael 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. In addition, under normal market conditions, the Fund invests at least 80% of its total assets in securities that pay interest free from the personal income taxes, if any, of Virginia. 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.
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 also 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.
FRVRX - Performance
Return Ranking - Trailing
| Period | FRVRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.0% | -6.1% | 36.1% | 21.83% |
| 1 Yr | 2.5% | -6.0% | 38.2% | 7.12% |
| 3 Yr | -1.3%* | -11.5% | 5.9% | 64.96% |
| 5 Yr | 0.1%* | -7.2% | 1103.7% | 76.87% |
| 10 Yr | N/A* | -1.1% | 248.9% | 78.79% |
* Annualized
Return Ranking - Calendar
| Period | FRVRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.2% | -1.4% | 41.0% | 34.48% |
| 2022 | -13.4% | -39.7% | 0.3% | 76.31% |
| 2021 | -1.0% | -5.6% | 6.9% | 74.64% |
| 2020 | 1.5% | -2.6% | 310.0% | 58.75% |
| 2019 | 2.8% | 0.0% | 26.0% | 82.58% |
Total Return Ranking - Trailing
| Period | FRVRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.0% | -6.1% | 36.1% | 21.83% |
| 1 Yr | 2.5% | -6.0% | 38.2% | 7.12% |
| 3 Yr | -1.3%* | -11.5% | 5.9% | 64.96% |
| 5 Yr | 0.1%* | -7.2% | 1103.7% | 76.87% |
| 10 Yr | N/A* | -1.1% | 248.9% | 75.38% |
* Annualized
Total Return Ranking - Calendar
| Period | FRVRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.5% | -1.3% | 41.0% | 29.43% |
| 2022 | -11.0% | -39.7% | 1.1% | 74.68% |
| 2021 | 1.3% | -4.8% | 23761504.0% | 57.04% |
| 2020 | 3.4% | -1.5% | 17057.9% | 64.92% |
| 2019 | 6.2% | 0.2% | 3514.6% | 58.53% |
NAV & Total Return History
FRVRX - Holdings
Concentration Analysis
| FRVRX | Category Low | Category High | FRVRX % Rank | |
|---|---|---|---|---|
| Net Assets | 414 M | 3.22 M | 71.9 B | 53.23% |
| Number of Holdings | 138 | 4 | 13418 | 75.22% |
| Net Assets in Top 10 | 76.5 M | -317 M | 3.09 B | 53.93% |
| Weighting of Top 10 | 18.50% | 1.8% | 100.3% | 47.11% |
Top 10 Holdings
- City of Richmond, Series 2016 A 2.50%
- Washington Metropolitan Area Transit Authority, Series 2021 A 1.98%
- Virginia Resources Authority, Series 2018 C 1.94%
- Northern Virginia Transportation Commission, Series 2022 1.85%
- City of Norfolk, Series 2018 1.75%
- City of Norfolk, Series 2018 1.74%
- Virginia Small Business Financing Authority, Series 2022 1.74%
- Virginia College Building Authority, Series 2016 A 1.70%
- Virginia College Building Authority, Series 2023 B 1.67%
- Virginia Small Business Financing Authority, Series 2021 1.62%
Asset Allocation
| Weighting | Return Low | Return High | FRVRX % Rank | |
|---|---|---|---|---|
| Bonds | 98.30% | 0.00% | 150.86% | 63.29% |
| Cash | 1.68% | -50.86% | 44.62% | 37.74% |
| Stocks | 0.03% | 0.00% | 99.77% | 9.53% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 66.49% |
| Other | 0.00% | -3.69% | 53.54% | 66.89% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 66.15% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FRVRX % 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% | 100.00% | 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% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
| Basic Materials | 0.00% | 0.00% | 0.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FRVRX % Rank | |
|---|---|---|---|---|
| US | 0.03% | 0.00% | 99.77% | 9.54% |
| Non US | 0.00% | 0.00% | 10.22% | 67.02% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FRVRX % Rank | |
|---|---|---|---|---|
| Municipal | 100.00% | 44.39% | 100.00% | 6.34% |
| Cash & Equivalents | 0.89% | 0.00% | 44.41% | 33.98% |
| Derivative | 0.00% | -3.69% | 53.54% | 66.42% |
| Securitized | 0.00% | 0.00% | 5.93% | 66.96% |
| Corporate | 0.00% | 0.00% | 9.41% | 72.15% |
| Government | 0.00% | 0.00% | 52.02% | 67.97% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FRVRX % Rank | |
|---|---|---|---|---|
| US | 98.30% | 0.00% | 142.23% | 60.85% |
| Non US | 0.00% | 0.00% | 23.89% | 68.50% |
FRVRX - Expenses
Operational Fees
| FRVRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.58% | 0.01% | 8.02% | 71.57% |
| Management Fee | 0.50% | 0.00% | 1.20% | 83.42% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.01% | 0.44% | 70.39% |
Sales Fees
| FRVRX 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
| FRVRX 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.
| FRVRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 34.49% | 0.00% | 283.00% | 83.53% |
FRVRX - Distributions
Dividend Yield Analysis
| FRVRX | Category Low | Category High | FRVRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.08% | 0.00% | 14.51% | 44.23% |
Dividend Distribution Analysis
| FRVRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FRVRX | Category Low | Category High | FRVRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.00% | -0.53% | 5.33% | 47.79% |
Capital Gain Distribution Analysis
| FRVRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.025 | OrdinaryDividend |
| Oct 31, 2024 | $0.026 | OrdinaryDividend |
| Sep 30, 2024 | $0.023 | OrdinaryDividend |
| Aug 30, 2024 | $0.027 | OrdinaryDividend |
| Jul 31, 2024 | $0.026 | OrdinaryDividend |
| Apr 30, 2024 | $0.025 | OrdinaryDividend |
| Mar 28, 2024 | $0.025 | OrdinaryDividend |
| Feb 29, 2024 | $0.025 | OrdinaryDividend |
| Jan 31, 2024 | $0.024 | OrdinaryDividend |
| Dec 29, 2023 | $0.025 | OrdinaryDividend |
| Nov 30, 2023 | $0.024 | OrdinaryDividend |
| Oct 31, 2023 | $0.024 | OrdinaryDividend |
| Sep 29, 2023 | $0.024 | OrdinaryDividend |
| Aug 31, 2023 | $0.024 | OrdinaryDividend |
| Jul 31, 2023 | $0.023 | OrdinaryDividend |
| Jun 30, 2023 | $0.024 | OrdinaryDividend |
| May 31, 2023 | $0.024 | OrdinaryDividend |
| Apr 28, 2023 | $0.021 | OrdinaryDividend |
| Mar 31, 2023 | $0.025 | OrdinaryDividend |
| Feb 28, 2023 | $0.021 | OrdinaryDividend |
| Jan 31, 2023 | $0.022 | OrdinaryDividend |
| Dec 30, 2022 | $0.024 | OrdinaryDividend |
| Nov 30, 2022 | $0.021 | OrdinaryDividend |
| Oct 31, 2022 | $0.021 | OrdinaryDividend |
| Sep 30, 2022 | $0.023 | OrdinaryDividend |
| Aug 31, 2022 | $0.022 | OrdinaryDividend |
| Jul 29, 2022 | $0.021 | OrdinaryDividend |
| Jun 30, 2022 | $0.020 | OrdinaryDividend |
| May 31, 2022 | $0.020 | OrdinaryDividend |
| Apr 29, 2022 | $0.020 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Feb 28, 2022 | $0.017 | OrdinaryDividend |
| Jan 31, 2022 | $0.019 | OrdinaryDividend |
| Dec 31, 2021 | $0.021 | OrdinaryDividend |
| Nov 30, 2021 | $0.019 | OrdinaryDividend |
| Oct 29, 2021 | $0.017 | OrdinaryDividend |
| Sep 30, 2021 | $0.018 | OrdinaryDividend |
| Aug 31, 2021 | $0.019 | OrdinaryDividend |
| Jul 30, 2021 | $0.018 | OrdinaryDividend |
| Jun 30, 2021 | $0.020 | OrdinaryDividend |
| May 28, 2021 | $0.017 | OrdinaryDividend |
| Apr 30, 2021 | $0.018 | OrdinaryDividend |
| Mar 31, 2021 | $0.021 | OrdinaryDividend |
| Feb 26, 2021 | $0.018 | OrdinaryDividend |
| Jan 29, 2021 | $0.029 | OrdinaryDividend |
| Dec 31, 2020 | $0.021 | OrdinaryDividend |
| Nov 30, 2020 | $0.021 | OrdinaryDividend |
| Oct 30, 2020 | $0.020 | OrdinaryDividend |
| Sep 30, 2020 | $0.021 | OrdinaryDividend |
| Jun 30, 2020 | $0.023 | OrdinaryDividend |
| May 29, 2020 | $0.021 | OrdinaryDividend |
| Apr 30, 2020 | $0.023 | OrdinaryDividend |
| Jan 31, 2020 | $0.025 | OrdinaryDividend |
| Dec 31, 2019 | $0.026 | OrdinaryDividend |
| Nov 29, 2019 | $0.024 | OrdinaryDividend |
| Oct 31, 2019 | $0.025 | OrdinaryDividend |
| Sep 30, 2019 | $0.026 | OrdinaryDividend |
| Aug 30, 2019 | $0.026 | OrdinaryDividend |
| Jul 31, 2019 | $0.029 | OrdinaryDividend |
FRVRX - Fund Manager Analysis
Managers
Michael Conn
Start Date
Tenure
Tenure Rank
Feb 28, 2010
12.26
12.3%
Mr. Conn has been a portfolio manager of Franklin Advisers, Inc since November 2020. He joined Franklin Templeton in 2006.
John Bonelli
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Mr. Bonelli is a Portfolio Manager and Research Analyst of Franklin Advisers, Inc. He joined Franklin Templeton Investments in 2010.
John Wiley
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
John Wiley, Senior Vice President, has been a lead portfolio manager since 1993. Wiley has been an analyst or portfolio manager with Franklin Templeton Investments, his employer since 1989. He holds the Chartered Financial Analyst designation.
Christopher Sperry
Start Date
Tenure
Tenure Rank
Nov 02, 2020
1.58
1.6%
Sperry has been an analyst or portfolio manager of Franklin Templeton Investments, his employer since 1996. Sperry holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
