FAZQX Performance — Franklin Arizona Tax-Free Income Fund, Class A
Data updated: 2026-07-27
FAZQX returned +1.69% year to date and +7.46% over one year to May 2026. Annualised returns are +3.86% over 3 years and +0.47% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $112, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 5.88% a year. In the 12 months to May 2026 the fund lost a net $82.2M, and assets reached $597.09M.
FAZQX Growth of $100
What $100 invested in Franklin Arizona Tax-Free Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | FAZQX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $106 |
| 3 years (Jun 2023 – May 2026) | $112 | $111 |
| 5 years (Jun 2021 – May 2026) | $102 | $104 |
| Since data start (Sep 2019 – May 2026) | $107 | $109 |
FAZQX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.69% |
| 1 year | +7.46% |
| 3 years (annualised) | +3.86% |
| 5 years (annualised) | +0.47% |
FAZQX Annual Returns
Calendar-year total returns of Franklin Arizona Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.69% |
| 2025 | +3.03% |
| 2024 | +2.37% |
| 2023 | +5.98% |
| 2022 | −10.51% |
| 2021 | +1.44% |
| 2020 | +4.31% |
| 2019 (Sep–Dec) | −0.39% |
FAZQX 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% | +1.4% | −2.0% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +1.2% | −2.0% | −1.0% | −0.8% | +0.7% | −0.7% | +0.8% | +2.9% | +1.6% | +0.1% | +0.1% |
| 2024 | −0.3% | 0.0% | +0.1% | −1.2% | +0.5% | +1.7% | +0.8% | +0.6% | +0.9% | −1.1% | +1.7% | −1.4% |
| 2023 | +2.7% | −2.3% | +1.9% | −0.1% | −0.8% | +0.9% | +0.2% | −1.3% | −2.9% | −1.7% | +6.6% | +2.9% |
| 2022 | −2.5% | −0.7% | −3.3% | −2.9% | +0.7% | −2.1% | +2.6% | −2.4% | −4.0% | −1.0% | +4.8% | 0.0% |
| 2021 | +0.4% | −1.8% | +0.9% | +1.0% | +0.4% | +0.3% | +0.7% | −0.4% | −0.9% | −0.1% | +0.9% | +0.1% |
| 2020 | +1.8% | +1.5% | −3.9% | −1.6% | +3.0% | +0.8% | +1.6% | −0.5% | −0.2% | −0.4% | +1.7% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | 0.0% | +0.1% | +0.2% |
FAZQX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.88%
- 3-year Sharpe ratio: -0.11 (vs 4.5% risk-free rate)
- Best month: +6.56% (Nov 2023)
- Worst month: −2.89% (Sep 2023)
FAZQX Fund Flows
Monthly money in and out of Franklin Arizona Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$82.2M
- 12-month gross sales (incl. reinvestments): $101.1M
- Sales ÷ redemptions: 0.55×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $7.3M | $10.1M | −$2.8M |
| Apr 2026 | $8.9M | $12.4M | −$3.6M |
| Mar 2026 | $9.1M | $9.2M | −$122K |
| Feb 2026 | $8.5M | $22.7M | −$14.2M |
| Jan 2026 | $9.1M | $11.7M | −$2.6M |
| Dec 2025 | $7.3M | $30.9M | −$23.6M |
| Nov 2025 | $8.2M | $11.3M | −$3.1M |
| Oct 2025 | $6.4M | $12.5M | −$6.2M |
| Sep 2025 | $7.0M | $11.7M | −$4.7M |
| Aug 2025 | $7.4M | $14.0M | −$6.6M |
| Jul 2025 | $11.0M | $23.1M | −$12.1M |
| Jun 2025 | $10.9M | $13.6M | −$2.7M |
FAZQX Assets Under Management
Net assets of Franklin Arizona Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $597.09M |
| 2026-02-28 | $610.21M |
| 2025-11-30 | $643.44M |
| 2025-08-31 | $632.58M |
| 2025-05-31 | $653.92M |
| 2025-02-28 | $699.79M |
| 2024-11-30 | $709.39M |
| 2024-08-31 | $715.51M |
| 2024-05-31 | $705.42M |
| 2024-02-29 | $722.79M |
| 2023-11-30 | $720.93M |
| 2023-08-31 | $739.24M |
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.