FVAIX Fees and Costs — Franklin Virginia Tax-Free Income Fund, Class C
Data updated: 2026-07-27
The net expense ratio is 1.28%: a 0.51% management fee, a 0.65% 12b-1 fee plus 0.12% other expenses. This share class carries a deferred sales charge of up to 1.00%. Portfolio turnover was 16%.
FVAIX Fees and Expenses
Annual operating expenses and sales charges of FVAIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.51% |
| 12b-1 fee | 0.65% |
| Other expenses | 0.12% |
| Gross expense ratio | 1.28% |
| Fee waiver | — |
| Net expense ratio | 1.28% |
| 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 |
FVAIX Costs Over Time
On $10,000 invested in FVAIX, assuming 5% a year before costs, total costs come to $796 over 5 years, cutting the return by 1.34% 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 1.28%) | $134 | $418 | $723 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $238 | $439 | $796 |
| Value after costs | $10,262 | $11,137 | $11,967 |
| Impact on return, per year | 2.38% | 1.34% | 1.34% |
FVAIX 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): $170.3M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
FVAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $44.2M | 29.01% |
| TD SECURITIES (USA) LLC | $28.8M | 18.90% |
| Truist Securities, Inc. | $18.0M | 11.81% |
| J.P. Morgan Securities LLC | $12.9M | 8.44% |
| Morgan Stanley & Co. LLC | $12.1M | 7.97% |
| Raymond James & Associates, Inc. | $10.8M | 7.07% |
| RBC Capital Markets, LLC | $8.8M | 5.77% |
| Wells Fargo Securities, LLC | $7.8M | 5.13% |
| UBS Securities LLC | $4.6M | 3.05% |
| Goldman Sachs & Co. LLC | $4.3M | 2.84% |
Franklin Virginia 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 |
|---|---|---|---|
| FRVRX | Class R6 | 0.57% | none |
| FRVZX | Advisor Class | 0.64% | none |
| FRVAX | Class A1 | 0.74% | 3.75% |
| FVAQX | Class A | 0.89% | 3.75% |
| FVAIX | Class C | 1.28% | 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.