FMDZX Performance — Franklin Maryland Tax-Free Income Fund, Advisor Class
Data updated: 2026-07-27
FMDZX returned +1.81% year to date and +6.91% over one year to May 2026. Annualised returns are +3.47% over 3 years and +0.63% over 5 years. Against its Intermediate Municipal Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $111, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 6.24% a year. In the 12 months to May 2026 the fund lost a net $13.4M, and assets reached $315.19M.
FMDZX Growth of $100
What $100 invested in Franklin Maryland 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 | FMDZX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $106 |
| 3 years (Jun 2023 – May 2026) | $111 | $111 |
| 5 years (Jun 2021 – May 2026) | $103 | $104 |
| Since data start (Sep 2019 – May 2026) | $107 | $109 |
FMDZX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.81% |
| 1 year | +6.91% |
| 3 years (annualised) | +3.47% |
| 5 years (annualised) | +0.63% |
FMDZX Annual Returns
Calendar-year total returns of Franklin Maryland Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.81% |
| 2025 | +2.66% |
| 2024 | +2.10% |
| 2023 | +6.24% |
| 2022 | −9.89% |
| 2021 | +1.78% |
| 2020 | +3.64% |
| 2019 (Sep–Dec) | −0.30% |
FMDZX 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 | +0.5% | +1.3% | −1.8% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +1.0% | −1.9% | −0.6% | −0.7% | +0.6% | −1.1% | +0.7% | +3.2% | +1.4% | +0.2% | −0.2% |
| 2024 | −0.2% | −0.1% | +0.3% | −1.2% | +0.1% | +1.9% | +0.8% | +0.6% | +1.1% | −1.3% | +1.7% | −1.4% |
| 2023 | +3.1% | −2.4% | +2.1% | +0.1% | −0.6% | +0.8% | +0.2% | −1.3% | −3.3% | −1.9% | +7.2% | +2.5% |
| 2022 | −2.6% | −0.5% | −3.1% | −3.0% | +0.9% | −2.1% | +2.8% | −2.3% | −4.1% | −0.9% | +5.4% | −0.4% |
| 2021 | +0.5% | −1.9% | +0.7% | +1.1% | +0.4% | +0.4% | +0.8% | −0.4% | −0.8% | −0.2% | +1.1% | +0.1% |
| 2020 | +1.6% | +1.3% | −3.2% | −2.1% | +2.3% | +0.8% | +1.3% | −0.2% | +0.1% | −0.2% | +1.3% | +0.7% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | 0.0% | +0.1% | +0.3% |
FMDZX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.24%
- 3-year Sharpe ratio: -0.17 (vs 4.5% risk-free rate)
- Best month: +7.18% (Nov 2023)
- Worst month: −3.31% (Sep 2023)
FMDZX Fund Flows
Monthly money in and out of Franklin Maryland Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$13.4M
- 12-month gross sales (incl. reinvestments): $62.6M
- Sales ÷ redemptions: 0.82×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $8.1M | $4.7M | $3.4M |
| Apr 2026 | $3.6M | $5.7M | −$2.1M |
| Mar 2026 | $5.7M | $6.1M | −$394K |
| Feb 2026 | $3.3M | $2.3M | $1.0M |
| Jan 2026 | $5.1M | $5.8M | −$691K |
| Dec 2025 | $4.6M | $10.8M | −$6.3M |
| Nov 2025 | $2.8M | $4.2M | −$1.4M |
| Oct 2025 | $4.3M | $4.2M | $73K |
| Sep 2025 | $5.0M | $6.3M | −$1.3M |
| Aug 2025 | $5.1M | $8.4M | −$3.3M |
| Jul 2025 | $10.7M | $10.4M | $285K |
| Jun 2025 | $4.5M | $7.3M | −$2.8M |
FMDZX Assets Under Management
Net assets of Franklin Maryland Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $315.19M |
| 2026-02-28 | $317.01M |
| 2025-11-30 | $320.80M |
| 2025-08-31 | $310.87M |
| 2025-05-31 | $318.75M |
| 2025-02-28 | $333.92M |
| 2024-11-30 | $311.64M |
| 2024-08-31 | $309.53M |
| 2024-05-31 | $300.15M |
| 2024-02-29 | $306.91M |
| 2023-11-30 | $309.85M |
| 2023-08-31 | $314.93M |
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.