FVAIX Performance — Franklin Virginia Tax-Free Income Fund, Class C
Data updated: 2026-07-27
FVAIX returned +1.44% year to date and +6.11% over one year to May 2026. Annualised returns are +3.00% over 3 years and −0.48% over 5 years. The fund trailed its Long-Term Municipal Bond category average: $100 invested three years ago grew to $109, against $112 for the category, and to $106 over one year, against $107. Volatility over the past three years was 5.95% a year. In the 12 months to May 2026 the fund lost a net $10.0M, and assets reached $449.07M.
FVAIX Growth of $100
What $100 invested in Franklin Virginia Tax-Free Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | FVAIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $107 |
| 3 years (Jun 2023 – May 2026) | $109 | $112 |
| 5 years (Jun 2021 – May 2026) | $98 | $103 |
| Since data start (Sep 2019 – May 2026) | $100 | $109 |
FVAIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.44% |
| 1 year | +6.11% |
| 3 years (annualised) | +3.00% |
| 5 years (annualised) | −0.48% |
FVAIX Annual Returns
Calendar-year total returns of Franklin Virginia Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.44% |
| 2025 | +1.59% |
| 2024 | +1.69% |
| 2023 | +5.49% |
| 2022 | −11.90% |
| 2021 | +0.24% |
| 2020 | +3.28% |
| 2019 (Sep–Dec) | −0.37% |
FVAIX 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 | +0.4% | +1.3% | −1.8% | +1.2% | +0.4% | — | — | — | — | — | — | — |
| 2025 | 0.0% | +0.9% | −2.1% | −0.9% | −0.8% | +0.6% | −1.0% | +0.6% | +2.9% | +1.2% | +0.2% | 0.0% |
| 2024 | −0.1% | +0.1% | +0.2% | −1.3% | 0.0% | +1.9% | +0.7% | +0.5% | +1.1% | −1.6% | +1.7% | −1.5% |
| 2023 | +3.2% | −2.8% | +2.0% | −0.2% | −0.9% | +1.0% | +0.2% | −1.4% | −3.0% | −1.7% | +6.6% | +2.8% |
| 2022 | −2.8% | −0.9% | −3.3% | −3.5% | +1.3% | −2.6% | +3.0% | −2.8% | −4.1% | −1.3% | +4.9% | −0.1% |
| 2021 | +0.3% | −2.0% | +0.5% | +0.9% | +0.4% | +0.3% | +0.8% | −0.7% | −1.0% | −0.3% | +1.0% | +0.1% |
| 2020 | +1.5% | +1.1% | −3.1% | −1.3% | +2.6% | +0.6% | +1.1% | −0.5% | −0.1% | −0.3% | +1.4% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.4% | −0.1% | +0.1% | +0.1% |
FVAIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.95%
- 3-year Sharpe ratio: -0.25 (vs 4.5% risk-free rate)
- Best month: +6.61% (Nov 2023)
- Worst month: −2.96% (Sep 2023)
FVAIX Fund Flows
Monthly money in and out of Franklin Virginia Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$10.0M
- 12-month gross sales (incl. reinvestments): $99.6M
- Sales ÷ redemptions: 0.91×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $12.7M | $5.7M | $7.0M |
| Apr 2026 | $6.3M | $7.7M | −$1.4M |
| Mar 2026 | $7.4M | $7.4M | −$12K |
| Feb 2026 | $4.9M | $4.4M | $493K |
| Jan 2026 | $7.6M | $7.2M | $370K |
| Dec 2025 | $6.2M | $10.5M | −$4.3M |
| Nov 2025 | $4.0M | $6.2M | −$2.2M |
| Oct 2025 | $4.6M | $5.7M | −$1.1M |
| Sep 2025 | $4.6M | $6.0M | −$1.4M |
| Aug 2025 | $12.8M | $12.2M | $598K |
| Jul 2025 | $13.3M | $23.0M | −$9.7M |
| Jun 2025 | $15.2M | $13.5M | $1.7M |
FVAIX Assets Under Management
Net assets of Franklin Virginia Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $449.07M |
| 2026-02-28 | $447.45M |
| 2025-11-30 | $445.93M |
| 2025-08-31 | $434.57M |
| 2025-05-31 | $444.01M |
| 2025-02-28 | $452.53M |
| 2024-11-30 | $413.54M |
| 2024-08-31 | $413.68M |
| 2024-05-31 | $410.43M |
| 2024-02-29 | $417.67M |
| 2023-11-30 | $419.52M |
| 2023-08-31 | $433.35M |
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.