FMNIX Fees and Costs — Franklin Minnesota Tax-Free Income Fund, Class C
Data updated: 2026-07-27
The net expense ratio is 1.25%: a 0.49% management fee, a 0.65% 12b-1 fee plus 0.11% other expenses. This share class carries a deferred sales charge of up to 1.00%. Portfolio turnover was 5%.
FMNIX Fees and Expenses
Annual operating expenses and sales charges of FMNIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.65% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.25% |
| Fee waiver | — |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FMNIX Costs Over Time
On $10,000 invested in FMNIX, assuming 5% a year before costs, total costs come to $778 over 5 years, cutting the return by 1.31% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $104 | $0 | $0 |
| Fund expenses (net expense ratio 1.25%) | $131 | $408 | $706 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $235 | $429 | $778 |
| Value after costs | $10,265 | $11,148 | $11,985 |
| Impact on return, per year | 2.35% | 1.31% | 1.31% |
FMNIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $106.6M
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
FMNIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Northland Securities, Inc. | $19.5M | 20.88% |
| RBC Capital Markets, LLC | $17.8M | 19.06% |
| BofA Securities, Inc. | $16.5M | 17.65% |
| Barclays Capital, Inc. | $15.7M | 16.79% |
| ROBERT W. BAIRD & CO. INCORPORATED | $5.8M | 6.21% |
| Wells Fargo Securities, LLC | $5.4M | 5.82% |
| Mesirow Financial, Inc. | $4.0M | 4.30% |
| J.P. Morgan Securities LLC | $3.2M | 3.47% |
| Piper Sandler & Co. | $2.8M | 2.97% |
| Belle Haven Investments, L.P. | $2.7M | 2.85% |
Franklin Minnesota Tax-Free Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FKTDX | Class R6 | 0.55% | none |
| FMNZX | Advisor Class | 0.60% | none |
| FMINX | Class A1 | 0.70% | 3.75% |
| FMNQX | Class A | 0.85% | 3.75% |
| FMNIX | Class C | 1.25% | none |
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.