FXNCX Fees and Costs — Franklin North Carolina Tax-Free Income Fund, Class A1
Data updated: 2026-07-27
The net expense ratio is 0.71%: a 0.49% management fee, a 0.10% 12b-1 fee plus 0.12% other expenses. This share class carries a maximum front-end sales load of 3.75%. Portfolio turnover was 16%.
FXNCX Fees and Expenses
Annual operating expenses and sales charges of FXNCX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.10% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.71% |
| Fee waiver | — |
| Net expense ratio | 0.71% |
| 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 | Yes |
| Waived fees subject to recoupment | No |
FXNCX Costs Over Time
On $10,000 invested in FXNCX, assuming 5% a year before costs, total costs come to $909 over 5 years, cutting the return by 1.54% 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 0.71%) | $72 | $225 | $391 |
| Lost growth on money paid in costs | $19 | $70 | $143 |
| Total costs | $466 | $670 | $909 |
| Value after costs | $10,034 | $10,906 | $11,854 |
| Impact on return, per year | 4.66% | 2.07% | 1.54% |
FXNCX 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): $232.4M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
FXNCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $66.8M | 30.54% |
| J.P. Morgan Securities LLC | $58.9M | 26.94% |
| Wells Fargo Securities, LLC | $20.3M | 9.28% |
| Morgan Stanley & Co. LLC | $18.8M | 8.58% |
| B. C. Ziegler and Company | $14.3M | 6.53% |
| UBS Securities LLC | $13.4M | 6.12% |
| Piper Sandler & Co. | $9.2M | 4.22% |
| RBC Capital Markets, LLC | $8.6M | 3.92% |
| BNY Mellon Capital Markets, LLC | $4.2M | 1.93% |
| Truist Securities, Inc. | $4.2M | 1.93% |
Franklin North Carolina 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 |
|---|---|---|---|
| FNCQX | Class R6 | 0.56% | none |
| FNCZX | Advisor Class | 0.61% | none |
| FXNCX | Class A1 | 0.71% | 3.75% |
| FQNCX | Class A | 0.86% | 3.75% |
| FNCIX | Class C | 1.25% | 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.