FXNCX Performance — Franklin North Carolina Tax-Free Income Fund, Class A1
Data updated: 2026-07-27
FXNCX returned +1.79% year to date and +7.61% over one year to May 2026. Annualised returns are +3.74% over 3 years and +0.42% over 5 years. Against its Long-Term Municipal Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $112, against $112 for the category, and to $108 over one year, against $107. Volatility over the past three years was 6.23% a year. In the 12 months to May 2026 the fund lost a net $14.4M, and assets reached $576.84M.
FXNCX Growth of $100
What $100 invested in Franklin North Carolina 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 | FXNCX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $112 | $112 |
| 5 years (Jun 2021 – May 2026) | $102 | $103 |
| Since data start (Sep 2019 – May 2026) | $107 | $109 |
FXNCX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.79% |
| 1 year | +7.61% |
| 3 years (annualised) | +3.74% |
| 5 years (annualised) | +0.42% |
FXNCX Annual Returns
Calendar-year total returns of Franklin North Carolina Tax-Free Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.79% |
| 2025 | +3.53% |
| 2024 | +1.97% |
| 2023 | +6.04% |
| 2022 | −10.84% |
| 2021 | +1.36% |
| 2020 | +4.49% |
| 2019 (Sep–Dec) | −0.41% |
FXNCX 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 | +0.6% | +1.5% | −2.2% | +1.3% | +0.6% | — | — | — | — | — | — | — |
| 2025 | +0.3% | +1.0% | −2.1% | −0.7% | −0.5% | +0.6% | −0.7% | +0.8% | +3.0% | +1.4% | +0.3% | +0.2% |
| 2024 | −0.1% | 0.0% | +0.1% | −1.2% | 0.0% | +2.0% | +0.8% | +0.5% | +1.2% | −1.4% | +1.7% | −1.5% |
| 2023 | +3.3% | −2.6% | +2.3% | −0.2% | −0.7% | +0.6% | +0.2% | −1.3% | −3.1% | −2.1% | +7.0% | +2.9% |
| 2022 | −2.7% | −0.5% | −3.4% | −3.2% | +1.3% | −2.3% | +2.7% | −2.6% | −4.4% | −1.1% | +5.5% | −0.3% |
| 2021 | +0.4% | −1.7% | +0.7% | +1.0% | +0.4% | +0.2% | +0.8% | −0.5% | −1.0% | −0.1% | +1.0% | +0.1% |
| 2020 | +1.6% | +1.0% | −2.5% | −1.3% | +2.9% | +0.5% | +1.2% | −0.4% | −0.1% | −0.2% | +1.4% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.6% | 0.0% | +0.1% | +0.1% |
FXNCX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.23%
- 3-year Sharpe ratio: -0.12 (vs 4.5% risk-free rate)
- Best month: +7.00% (Nov 2023)
- Worst month: −3.10% (Sep 2023)
FXNCX Fund Flows
Monthly money in and out of Franklin North Carolina Tax-Free Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$14.4M
- 12-month gross sales (incl. reinvestments): $101.8M
- Sales ÷ redemptions: 0.88×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $9.4M | $8.5M | $897K |
| Apr 2026 | $6.1M | $7.8M | −$1.7M |
| Mar 2026 | $8.0M | $9.4M | −$1.4M |
| Feb 2026 | $7.8M | $5.8M | $2.0M |
| Jan 2026 | $10.4M | $6.2M | $4.2M |
| Dec 2025 | $9.8M | $12.3M | −$2.5M |
| Nov 2025 | $8.3M | $9.1M | −$859K |
| Oct 2025 | $12.6M | $10.0M | $2.6M |
| Sep 2025 | $7.8M | $8.6M | −$784K |
| Aug 2025 | $5.1M | $16.0M | −$10.9M |
| Jul 2025 | $7.3M | $11.2M | −$3.9M |
| Jun 2025 | $9.1M | $11.2M | −$2.1M |
FXNCX Assets Under Management
Net assets of Franklin North Carolina Tax-Free Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $576.84M |
| 2026-02-28 | $585.69M |
| 2025-11-30 | $573.59M |
| 2025-08-31 | $549.93M |
| 2025-05-31 | $567.74M |
| 2025-02-28 | $610.69M |
| 2024-11-30 | $579.83M |
| 2024-08-31 | $579.11M |
| 2024-05-31 | $573.12M |
| 2024-02-29 | $589.00M |
| 2023-11-30 | $578.10M |
| 2023-08-31 | $599.70M |
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.