FRMZX Fees and Costs — Franklin Missouri Tax-Free Income Fund, Advisor Class
Data updated: 2026-07-27
The net expense ratio is 0.59%: a 0.49% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 12%.
FRMZX Fees and Expenses
Annual operating expenses and sales charges of FRMZX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.59% |
| Fee waiver | — |
| Net expense ratio | 0.59% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FRMZX Costs Over Time
On $10,000 invested in FRMZX, assuming 5% a year before costs, total costs come to $372 over 5 years, cutting the return by 0.62% 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 |
| Fund expenses (net expense ratio 0.59%) | $62 | $194 | $338 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $204 | $372 |
| Value after costs | $10,438 | $11,373 | $12,391 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
FRMZX 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): $179.1M
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
FRMZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Truist Securities, Inc. | $33.9M | 20.55% |
| Stifel, Nicolaus & Company, Incorporated | $33.3M | 20.16% |
| BofA Securities, Inc. | $24.1M | 14.59% |
| Piper Sandler & Co. | $18.0M | 10.91% |
| Morgan Stanley & Co. LLC | $15.3M | 9.27% |
| U.S. Bancorp Investments, Inc. | $10.4M | 6.33% |
| Wells Fargo Securities, LLC | $8.7M | 5.25% |
| Raymond James & Associates, Inc. | $8.6M | 5.21% |
| J.P. Morgan Securities LLC | $8.6M | 5.20% |
| B. C. Ziegler and Company | $4.2M | 2.53% |
Franklin Missouri 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 |
|---|---|---|---|
| FMOQX | Class R6 | 0.55% | none |
| FRMZX | Advisor Class | 0.59% | none |
| FRMOX | Class A1 | 0.69% | 3.75% |
| FMQOX | Class A | 0.84% | 3.75% |
| FMOIX | Class C | 1.23% | 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.