FMISX Performance — Franklin Massachusetts Tax-Free Income Fund, Class A1
Data updated: 2026-07-27
FMISX returned +1.52% year to date and +6.88% over one year to May 2026. Annualised returns are +3.32% over 3 years and +0.06% 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 $110, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 5.74% a year. In the 12 months to May 2026 the fund lost a net $4.8M, and assets reached $338.38M.
FMISX Growth of $100
What $100 invested in Franklin Massachusetts 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 | FMISX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $106 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| 5 years (Jun 2021 – May 2026) | $100 | $104 |
| Since data start (Sep 2019 – May 2026) | $105 | $109 |
FMISX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.52% |
| 1 year | +6.88% |
| 3 years (annualised) | +3.32% |
| 5 years (annualised) | +0.06% |
FMISX Annual Returns
Calendar-year total returns of Franklin Massachusetts Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.52% |
| 2025 | +2.95% |
| 2024 | +1.40% |
| 2023 | +5.66% |
| 2022 | −10.93% |
| 2021 | +0.91% |
| 2020 | +4.59% |
| 2019 (Sep–Dec) | −0.51% |
FMISX 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% | −2.0% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +0.9% | −1.8% | −0.8% | −0.5% | +0.7% | −0.7% | +0.7% | +2.7% | +1.2% | +0.3% | +0.2% |
| 2024 | 0.0% | −0.1% | +0.2% | −1.3% | −0.2% | +1.8% | +0.9% | +0.6% | +1.0% | −1.4% | +1.4% | −1.3% |
| 2023 | +3.1% | −2.4% | +2.0% | −0.2% | −0.8% | +0.9% | +0.3% | −1.4% | −3.0% | −1.6% | +6.5% | +2.4% |
| 2022 | −2.8% | −0.8% | −3.1% | −3.7% | +1.1% | −2.4% | +3.2% | −2.5% | −4.4% | −1.0% | +5.5% | −0.2% |
| 2021 | +0.3% | −1.9% | +0.5% | +1.1% | +0.4% | +0.3% | +0.7% | −0.5% | −0.9% | −0.1% | +1.0% | +0.2% |
| 2020 | +2.0% | +1.5% | −3.2% | −1.7% | +3.1% | +0.3% | +1.5% | −0.6% | −0.1% | −0.3% | +1.5% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | 0.0% | 0.0% | +0.1% |
FMISX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.74%
- 3-year Sharpe ratio: -0.21 (vs 4.5% risk-free rate)
- Best month: +6.55% (Nov 2023)
- Worst month: −2.96% (Sep 2023)
FMISX Fund Flows
Monthly money in and out of Franklin Massachusetts Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$4.8M
- 12-month gross sales (incl. reinvestments): $60.9M
- Sales ÷ redemptions: 0.93×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $6.4M | $3.9M | $2.5M |
| Apr 2026 | $4.7M | $4.6M | $71K |
| Mar 2026 | $4.0M | $3.7M | $294K |
| Feb 2026 | $3.6M | $2.6M | $973K |
| Jan 2026 | $4.4M | $7.4M | −$3.0M |
| Dec 2025 | $8.4M | $6.7M | $1.8M |
| Nov 2025 | $3.2M | $6.5M | −$3.3M |
| Oct 2025 | $6.5M | $8.2M | −$1.7M |
| Sep 2025 | $4.0M | $6.2M | −$2.1M |
| Aug 2025 | $4.3M | $6.0M | −$1.7M |
| Jul 2025 | $6.6M | $5.1M | $1.6M |
| Jun 2025 | $4.7M | $4.9M | −$184K |
FMISX Assets Under Management
Net assets of Franklin Massachusetts Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $338.38M |
| 2026-02-28 | $339.10M |
| 2025-11-30 | $335.34M |
| 2025-08-31 | $330.94M |
| 2025-05-31 | $331.58M |
| 2025-02-28 | $326.62M |
| 2024-11-30 | $271.62M |
| 2024-08-31 | $282.71M |
| 2024-05-31 | $284.43M |
| 2024-02-29 | $306.60M |
| 2023-11-30 | $320.64M |
| 2023-08-31 | $363.62M |
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.