FMNIX Performance — Franklin Minnesota Tax-Free Income Fund, Class C
Data updated: 2026-07-27
FMNIX returned +1.09% year to date and +7.09% over one year to May 2026. Annualised returns are +3.31% over 3 years and −0.23% 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 6.72% a year. In the 12 months to May 2026 the fund lost a net $48.2M, and assets reached $595.38M.
FMNIX Growth of $100
What $100 invested in Franklin Minnesota 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 | FMNIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $106 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| 5 years (Jun 2021 – May 2026) | $99 | $104 |
| Since data start (Sep 2019 – May 2026) | $103 | $109 |
FMNIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.09% |
| 1 year | +7.09% |
| 3 years (annualised) | +3.31% |
| 5 years (annualised) | −0.23% |
FMNIX Annual Returns
Calendar-year total returns of Franklin Minnesota Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.09% |
| 2025 | +3.77% |
| 2024 | +0.86% |
| 2023 | +5.08% |
| 2022 | −11.28% |
| 2021 | +0.04% |
| 2020 | +4.59% |
| 2019 (Sep–Dec) | −0.52% |
FMNIX 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% | −2.5% | +1.5% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.3% | −2.2% | −0.9% | −0.5% | +0.9% | −0.4% | +1.0% | +2.8% | +1.2% | +0.2% | +0.2% |
| 2024 | −0.6% | +0.1% | −0.1% | −1.6% | −0.3% | +2.1% | +0.7% | +0.9% | +1.2% | −1.8% | +1.9% | −1.5% |
| 2023 | +3.1% | −2.8% | +2.2% | −0.3% | −1.2% | +0.9% | 0.0% | −1.6% | −3.7% | −1.7% | +7.5% | +3.1% |
| 2022 | −2.9% | −0.9% | −3.4% | −3.4% | +1.5% | −2.4% | +2.9% | −3.2% | −4.5% | −0.8% | +5.6% | +0.1% |
| 2021 | +0.2% | −1.8% | +0.4% | +0.8% | +0.3% | +0.1% | +0.7% | −0.5% | −0.9% | −0.2% | +0.8% | +0.1% |
| 2020 | +1.7% | +1.3% | −2.5% | −1.8% | +3.6% | +0.2% | +1.4% | −0.6% | −0.1% | −0.3% | +1.4% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | 0.0% | 0.0% | +0.2% |
FMNIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.72%
- 3-year Sharpe ratio: -0.18 (vs 4.5% risk-free rate)
- Best month: +7.53% (Nov 2023)
- Worst month: −3.72% (Sep 2023)
FMNIX Fund Flows
Monthly money in and out of Franklin Minnesota Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$48.2M
- 12-month gross sales (incl. reinvestments): $109.8M
- Sales ÷ redemptions: 0.69×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $6.2M | $18.1M | −$11.9M |
| Apr 2026 | $7.0M | $11.2M | −$4.2M |
| Mar 2026 | $9.5M | $8.2M | $1.3M |
| Feb 2026 | $8.6M | $12.3M | −$3.7M |
| Jan 2026 | $11.7M | $6.9M | $4.8M |
| Dec 2025 | $8.4M | $28.7M | −$20.3M |
| Nov 2025 | $9.7M | $11.8M | −$2.1M |
| Oct 2025 | $9.2M | $12.0M | −$2.8M |
| Sep 2025 | $9.3M | $11.9M | −$2.5M |
| Aug 2025 | $11.6M | $12.2M | −$684K |
| Jul 2025 | $8.5M | $11.6M | −$3.1M |
| Jun 2025 | $10.2M | $13.1M | −$2.9M |
FMNIX Assets Under Management
Net assets of Franklin Minnesota Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $595.38M |
| 2026-02-28 | $619.21M |
| 2025-11-30 | $629.79M |
| 2025-08-31 | $615.02M |
| 2025-05-31 | $617.75M |
| 2025-02-28 | $658.78M |
| 2024-11-30 | $682.33M |
| 2024-08-31 | $688.78M |
| 2024-05-31 | $678.01M |
| 2024-02-29 | $706.86M |
| 2023-11-30 | $725.97M |
| 2023-08-31 | $760.30M |
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.