2 / 5 Stars
2 2 3 5 1
Zacks Investment Research
Standard & Poor's
5 / 5 Stars
U.S. News evaluated 75 Muni Single State Long Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned -3.83 percent over the past year, 2.13 percent over the past three years, 4.74 percent over the past five years, and 3.64 percent over the past decade.
|Trailing Returns||Updated 10.31.2013|
|Year to date||-4.4%|
|3 Years (Annualized)||2.1%|
|5 Years (Annualized)||4.7%|
|10 Years (Annualized)||3.6%|
The investment seeks to provide investors with as high a level of income exempt from federal income taxes as is consistent with prudent investment management and the preservation of shareholders' capital. The fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax. It only buys municipal securities rated, at the time of purchase, in one of the top four ratings categories by one or more U.S. nationally recognized rating services.
Fees are Low compared to funds in the same category.
Franklin Michigan Tax-Free Income Fund has an expense ratio of 0.53 percent.
Risk is Low compared to funds in the same category according to Morningstar.