FCAQX Performance — Franklin California High Yield Municipal Fund, Class R6
Data updated: 2026-07-27
FCAQX returned +2.06% year to date and +7.67% over one year to May 2026. Annualised returns are +4.56% over 3 years and +0.73% over 5 years. Against its High Yield Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $114, against $126 for the category, and to $108 over one year, against $107. Volatility over the past three years was 6.25% a year. In the 12 months to May 2026 the fund took in a net $270.9M, and assets reached $3.29B.
FCAQX Growth of $100
What $100 invested in Franklin California High Yield Municipal Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | FCAQX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $114 | $126 |
| 5 years (Jun 2021 – May 2026) | $104 | $120 |
| Since data start (Sep 2019 – May 2026) | $111 | $132 |
FCAQX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.06% |
| 1 year | +7.67% |
| 3 years (annualised) | +4.56% |
| 5 years (annualised) | +0.73% |
FCAQX Annual Returns
Calendar-year total returns of Franklin California High Yield Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.06% |
| 2025 | +3.31% |
| 2024 | +4.28% |
| 2023 | +5.41% |
| 2022 | −11.90% |
| 2021 | +4.09% |
| 2020 | +4.67% |
| 2019 (Sep–Dec) | −0.22% |
FCAQX 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% | +1.5% | −2.0% | +1.3% | +0.7% | — | — | — | — | — | — | — |
| 2025 | +0.3% | +1.1% | −1.7% | −1.3% | −0.4% | +0.6% | −0.9% | +0.8% | +3.1% | +1.2% | +0.3% | +0.2% |
| 2024 | +0.4% | +0.2% | +0.5% | −1.2% | +0.5% | +2.1% | +0.9% | +0.7% | +1.3% | −1.2% | +1.6% | −1.4% |
| 2023 | +2.9% | −2.8% | +1.6% | +0.2% | −0.5% | +0.4% | +0.3% | −1.5% | −3.2% | −1.9% | +7.2% | +3.0% |
| 2022 | −2.7% | −0.8% | −3.6% | −3.9% | +1.5% | −3.0% | +3.4% | −2.1% | −5.1% | −1.6% | +5.5% | +0.3% |
| 2021 | +1.2% | −1.6% | +0.6% | +1.4% | +0.8% | +0.8% | +0.9% | −0.5% | −1.0% | −0.1% | +1.2% | +0.3% |
| 2020 | +2.1% | +2.0% | −7.3% | −2.5% | +3.6% | +2.1% | +2.0% | −0.2% | +0.2% | −0.1% | +2.2% | +1.0% |
| 2019 | — | — | — | — | — | — | — | — | −0.6% | −0.1% | +0.2% | +0.3% |
FCAQX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.25%
- 3-year Sharpe ratio: 0.01 (vs 4.5% risk-free rate)
- Best month: +7.16% (Nov 2023)
- Worst month: −3.20% (Sep 2023)
FCAQX Fund Flows
Monthly money in and out of Franklin California High Yield Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: $270.9M
- 12-month gross sales (incl. reinvestments): $1.1B
- Sales ÷ redemptions: 1.32×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $90.9M | $60.2M | $30.7M |
| Apr 2026 | $126.6M | $116.3M | $10.3M |
| Mar 2026 | $69.4M | $63.6M | $5.8M |
| Feb 2026 | $93.5M | $45.8M | $47.7M |
| Jan 2026 | $106.0M | $48.7M | $57.3M |
| Dec 2025 | $112.6M | $108.6M | $4.0M |
| Nov 2025 | $73.9M | $55.0M | $18.8M |
| Oct 2025 | $95.1M | $59.7M | $35.5M |
| Sep 2025 | $96.3M | $66.6M | $29.7M |
| Aug 2025 | $81.7M | $81.0M | $643K |
| Jul 2025 | $94.4M | $81.4M | $13.0M |
| Jun 2025 | $89.2M | $71.7M | $17.4M |
FCAQX Assets Under Management
Net assets of Franklin California High Yield Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $3.29B |
| 2026-02-28 | $3.27B |
| 2025-11-30 | $3.13B |
| 2025-08-31 | $2.94B |
| 2025-05-31 | $2.93B |
| 2025-02-28 | $3.02B |
| 2024-11-30 | $2.94B |
| 2024-08-31 | $2.79B |
| 2024-05-31 | $2.58B |
| 2024-02-29 | $2.54B |
| 2023-11-30 | $2.44B |
| 2023-08-31 | $2.46B |
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.