FRHIX Fees and Costs — Franklin High Yield Tax-Free Income Fund, Class A1
Data updated: 2026-07-27
The net expense ratio is 0.66%: a 0.45% management fee, a 0.10% 12b-1 fee plus 0.11% other expenses. This share class carries a maximum front-end sales load of 3.75%. Portfolio turnover was 12%.
FRHIX Fees and Expenses
Annual operating expenses and sales charges of FRHIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.10% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FRHIX Costs Over Time
On $10,000 invested in FRHIX, assuming 5% a year before costs, total costs come to $879 over 5 years, cutting the return by 1.49% 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 | $375 | $375 | $375 |
| Fund expenses (net expense ratio 0.66%) | $67 | $209 | $363 |
| Lost growth on money paid in costs | $19 | $69 | $140 |
| Total costs | $460 | $653 | $879 |
| Value after costs | $10,040 | $10,923 | $11,884 |
| Impact on return, per year | 4.60% | 2.01% | 1.49% |
FRHIX 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): $1.3B
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
FRHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| FMSBONDS, INC. | $323.3M | 30.16% |
| Wells Fargo Securities, LLC | $196.8M | 18.36% |
| J.P. Morgan Securities LLC | $161.4M | 15.05% |
| Barclays Capital, Inc. | $98.3M | 9.17% |
| BofA Securities, Inc. | $69.4M | 6.48% |
| Truist Securities, Inc. | $62.5M | 5.83% |
| Goldman Sachs & Co. LLC | $49.4M | 4.61% |
| Stifel, Nicolaus & Company, Incorporated | $48.7M | 4.54% |
| Morgan Stanley & Co. LLC | $32.9M | 3.07% |
| Jefferies LLC | $29.3M | 2.74% |
Franklin High Yield 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 |
|---|---|---|---|
| FHYRX | Class R6 | 0.51% | none |
| FHYVX | Advisor Class | 0.56% | none |
| FRHIX | Class A1 | 0.66% | 3.75% |
| FHYQX | Class A | 0.81% | 3.75% |
| FHYIX | Class C | 1.20% | 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.