FFTRX Performance — Franklin Federal Limited-Term Tax-Free Income Fund, Class R6
Data updated: 2026-07-27
FFTRX returned +1.02% year to date and +4.30% over one year to May 2026. Annualised returns are +4.03% over 3 years and +1.88% over 5 years. The fund beat its Short-Term Municipal Bond category average: $100 invested three years ago grew to $113, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 2.08% a year. In the 12 months to May 2026 the fund lost a net $15.1M, and assets reached $871.92M.
FFTRX Growth of $100
What $100 invested in Franklin Federal Limited-Term Tax-Free Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | FFTRX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $104 | $104 |
| 3 years (Jun 2023 – May 2026) | $113 | $111 |
| 5 years (Jun 2021 – May 2026) | $110 | $108 |
| Since data start (Sep 2019 – May 2026) | $113 | $112 |
FFTRX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.02% |
| 1 year | +4.30% |
| 3 years (annualised) | +4.03% |
| 5 years (annualised) | +1.88% |
FFTRX Annual Returns
Calendar-year total returns of Franklin Federal Limited-Term Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.02% |
| 2025 | +4.31% |
| 2024 | +3.54% |
| 2023 | +4.28% |
| 2022 | −3.52% |
| 2021 | +0.06% |
| 2020 | +3.04% |
| 2019 (Sep–Dec) | +0.01% |
FFTRX 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% | +0.7% | −1.0% | +0.4% | +0.3% | — | — | — | — | — | — | — |
| 2025 | +0.5% | +0.5% | −0.3% | −0.2% | +0.5% | +0.8% | +0.3% | +0.6% | +0.6% | +0.3% | +0.2% | +0.3% |
| 2024 | +0.1% | +0.2% | +0.2% | −0.3% | +0.2% | +0.8% | +0.8% | +0.8% | +0.6% | −0.3% | +0.6% | −0.3% |
| 2023 | +1.4% | −1.2% | +1.3% | −0.1% | −0.4% | +0.6% | +0.2% | −0.3% | −0.9% | −0.1% | +2.5% | +1.1% |
| 2022 | −1.4% | −0.4% | −1.4% | −1.1% | +0.7% | −0.5% | +1.2% | −1.2% | −1.6% | −0.3% | +2.1% | +0.3% |
| 2021 | +0.3% | −0.9% | +0.3% | +0.4% | +0.1% | 0.0% | +0.3% | 0.0% | −0.4% | −0.1% | +0.2% | +0.1% |
| 2020 | +0.9% | +0.4% | −1.3% | +0.1% | +1.5% | +0.1% | +0.6% | −0.1% | 0.0% | −0.1% | +0.6% | +0.3% |
| 2019 | — | — | — | — | — | — | — | — | −0.4% | +0.1% | +0.1% | +0.2% |
FFTRX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 2.08%
- 3-year Sharpe ratio: -0.23 (vs 4.5% risk-free rate)
- Best month: +2.45% (Nov 2023)
- Worst month: −1.00% (Mar 2026)
FFTRX Fund Flows
Monthly money in and out of Franklin Federal Limited-Term Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$15.1M
- 12-month gross sales (incl. reinvestments): $151.8M
- Sales ÷ redemptions: 0.91×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $8.8M | $9.3M | −$515K |
| Apr 2026 | $9.5M | $12.1M | −$2.6M |
| Mar 2026 | $11.3M | $12.4M | −$1.1M |
| Feb 2026 | $9.6M | $13.2M | −$3.7M |
| Jan 2026 | $11.0M | $12.9M | −$1.8M |
| Dec 2025 | $21.1M | $15.6M | $5.5M |
| Nov 2025 | $15.4M | $13.3M | $2.1M |
| Oct 2025 | $11.7M | $13.1M | −$1.5M |
| Sep 2025 | $16.3M | $16.7M | −$418K |
| Aug 2025 | $13.5M | $14.5M | −$940K |
| Jul 2025 | $10.7M | $16.3M | −$5.6M |
| Jun 2025 | $12.9M | $17.5M | −$4.6M |
FFTRX Assets Under Management
Net assets of Franklin Federal Limited-Term Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $871.92M |
| 2026-02-28 | $885.01M |
| 2025-11-30 | $877.60M |
| 2025-08-31 | $873.73M |
| 2025-05-31 | $876.03M |
| 2025-02-28 | $880.36M |
| 2024-11-30 | $873.17M |
| 2024-08-31 | $878.03M |
| 2024-05-31 | $884.82M |
| 2024-02-29 | $909.77M |
| 2023-11-30 | $923.69M |
| 2023-08-31 | $941.61M |
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.