FAFTX Fees and Costs — Franklin Federal Tax-Free Income Fund, Advisor Class
Data updated: 2026-09-25
The net expense ratio is 0.53%: a 0.45% management fee plus 0.08% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 10%.
FAFTX Fees and Expenses
Annual operating expenses and sales charges of FAFTX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.53% |
| Fee waiver | — |
| Net expense ratio | 0.53% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FAFTX Costs Over Time
On $10,000 invested in FAFTX, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.53%) | $56 | $174 | $304 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
FAFTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.1B
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
FAFTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $301.9M | 19.16% |
| Morgan Stanley & Co. LLC | $270.0M | 17.14% |
| RBC Capital Markets, LLC | $201.8M | 12.81% |
| Truist Securities, Inc. | $168.5M | 10.70% |
| J.P. Morgan Securities LLC | $165.2M | 10.49% |
| Jefferies LLC | $119.0M | 7.56% |
| BofA Securities, Inc. | $113.4M | 7.20% |
| Mesirow Financial, Inc. | $106.3M | 6.75% |
| Raymond James & Associates, Inc. | $68.3M | 4.33% |
| U.S. Bancorp Investments, Inc. | $60.7M | 3.85% |
Franklin Federal Tax-Free Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FFTQX | Class R6 | 0.48% | none |
| FAFTX | Advisor Class | 0.53% | none |
| FKTIX | Class A1 | 0.63% | 3.75% |
| FFQAX | Class A | 0.78% | 3.75% |
| FRFTX | Class C | 1.18% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.