FALEX Fees and Costs — Franklin Alabama Tax-Free Income Fund, Class C
Data updated: 2026-07-27
The net expense ratio is 1.30%: a 0.57% management fee, a 0.65% 12b-1 fee plus 0.14% other expenses, less a 0.06% fee waiver. This share class carries a deferred sales charge of up to 1.00%. Portfolio turnover was 15%.
FALEX Fees and Expenses
Annual operating expenses and sales charges of FALEX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.57% |
| 12b-1 fee | 0.65% |
| Other expenses | 0.14% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FALEX Costs Over Time
On $10,000 invested in FALEX, assuming 5% a year before costs, total costs come to $808 over 5 years, cutting the return by 1.36% 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 |
| Sales charges | $104 | $0 | $0 |
| Fund expenses (net expense ratio 1.30%) | $136 | $425 | $734 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $240 | $446 | $808 |
| Value after costs | $10,260 | $11,131 | $11,955 |
| Impact on return, per year | 2.40% | 1.36% | 1.36% |
FALEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $55.5M
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
FALEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler & Co. | $9.1M | 19.17% |
| FMSBONDS, INC. | $6.0M | 12.69% |
| Wells Fargo Securities, LLC | $5.8M | 12.29% |
| BofA Securities, Inc. | $5.7M | 12.00% |
| Raymond James & Associates, Inc. | $4.5M | 9.61% |
| J.P. Morgan Securities LLC | $4.1M | 8.76% |
| RBC Capital Markets, LLC | $3.7M | 7.91% |
| Stifel, Nicolaus & Company, Incorporated | $3.4M | 7.21% |
| Carty & Company, Inc. | $2.6M | 5.41% |
| Morgan Stanley & Co. LLC | $2.3M | 4.96% |
Franklin Alabama 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 |
|---|---|---|---|
| FALRX | Class R6 | 0.62% | none |
| FALZX | Advisor Class | 0.65% | none |
| FRALX | Class A1 | 0.75% | 3.75% |
| FALQX | Class A | 0.90% | 3.75% |
| FALEX | Class C | 1.30% | 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.