FAFTX Performance — Franklin Federal Tax-Free Income Fund, Advisor Class
Data updated: 2026-09-25
FAFTX returned +1.03% year to date and +6.96% over one year to Jul 2026. Annualised returns are +3.77% over 3 years and +0.41% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $112, against $110 for the category, and to $107 over one year, against $106. Volatility over the past three years was 6.41% a year. In the 12 months to Jul 2026 the fund lost a net $441.5M, and assets reached $7.57B.
FAFTX Growth of $100
What $100 invested in Franklin Federal Tax-Free Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | FAFTX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $107 | $106 |
| 3 years (Aug 2023 – Jul 2026) | $112 | $110 |
| 5 years (Aug 2021 – Jul 2026) | $102 | $101 |
| Since data start (Aug 2019 – Jul 2026) | $113 | $110 |
FAFTX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.03% |
| 1 year | +6.96% |
| 3 years (annualised) | +3.77% |
| 5 years (annualised) | +0.41% |
FAFTX Annual Returns
Calendar-year total returns of Franklin Federal Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +1.03% |
| 2025 | +3.56% |
| 2024 | +3.31% |
| 2023 | +7.14% |
| 2022 | −11.59% |
| 2021 | +2.61% |
| 2020 | +5.74% |
| 2019 (Aug–Dec) | +1.42% |
FAFTX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.6% | +1.6% | −2.2% | +1.4% | +0.6% | +1.0% | −1.8% | — | — | — | — | — |
| 2025 | +0.1% | +1.1% | −2.0% | −0.8% | −0.6% | +0.8% | −0.8% | +0.8% | +3.1% | +1.5% | +0.2% | +0.2% |
| 2024 | +0.1% | +0.2% | +0.2% | −1.3% | +0.3% | +1.9% | +0.9% | +0.7% | +1.1% | −1.0% | +1.6% | −1.4% |
| 2023 | +3.5% | −2.4% | +1.9% | +0.1% | −0.5% | +0.9% | +0.2% | −1.4% | −3.1% | −1.9% | +7.3% | +2.8% |
| 2022 | −2.8% | −0.7% | −3.3% | −3.4% | +1.2% | −2.4% | +2.9% | −2.5% | −4.5% | −1.6% | +5.6% | −0.2% |
| 2021 | +0.8% | −2.0% | +0.8% | +1.3% | +0.6% | +0.5% | +0.9% | −0.4% | −0.9% | −0.2% | +1.0% | +0.2% |
| 2020 | +1.8% | +1.5% | −3.6% | −2.0% | +3.3% | +1.0% | +1.7% | −0.4% | −0.2% | −0.3% | +2.1% | +0.9% |
| 2019 | — | — | — | — | — | — | — | +1.7% | −0.6% | 0.0% | +0.2% | +0.2% |
FAFTX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 6.41%
- 3-year Sharpe ratio: -0.11 (vs 4.5% risk-free rate)
- Best month: +7.28% (Nov 2023)
- Worst month: −3.12% (Sep 2023)
FAFTX Fund Flows
Monthly money in and out of Franklin Federal Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$441.5M
- 12-month gross sales (incl. reinvestments): $1.0B
- Sales ÷ redemptions: 0.70×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $71.2M | $99.9M | −$28.8M |
| Jun 2026 | $81.3M | $114.1M | −$32.9M |
| May 2026 | $89.5M | $100.0M | −$10.5M |
| Apr 2026 | $66.9M | $100.5M | −$33.6M |
| Mar 2026 | $74.7M | $106.2M | −$31.6M |
| Feb 2026 | $75.7M | $95.1M | −$19.4M |
| Jan 2026 | $103.1M | $104.6M | −$1.5M |
| Dec 2025 | $113.8M | $190.8M | −$77.0M |
| Nov 2025 | $90.7M | $151.5M | −$60.8M |
| Oct 2025 | $100.3M | $134.8M | −$34.4M |
| Sep 2025 | $95.7M | $135.7M | −$40.0M |
| Aug 2025 | $81.0M | $152.1M | −$71.1M |
FAFTX Assets Under Management
Net assets of Franklin Federal Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $7.57B |
| 2026-04-30 | $7.74B |
| 2026-01-31 | $7.85B |
| 2025-10-31 | $7.99B |
| 2025-07-31 | $7.79B |
| 2025-04-30 | $8.03B |
| 2025-01-31 | $8.39B |
| 2024-10-31 | $8.60B |
| 2024-07-31 | $8.73B |
| 2024-04-30 | $8.70B |
| 2024-01-31 | $8.96B |
| 2023-10-31 | $8.37B |
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.