Morningstar

Franklin California High Yield Municipal Fund Class A FCQAX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 9.10  /  −0.11 %
  • Total Assets 3.1B
  • Adj. Expense Ratio
    0.810%
  • Expense Ratio 0.810%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 4.49%
  • Effective Duration 8.39 years

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FCQAX

Will FCQAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FCQAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FCQAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FCQAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin CA High Yield Municipal A holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings FCQAX

More FCQAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 9.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0%

1.26 42M
municipal

Grand Canyon University 5.125%

1.25 41M
Corporate

M-S-R ENERGY AUTH CALIF GAS REV 6.5%

1.16 39M
municipal

FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV 0%

1.12 37M
municipal

LOS ANGELES CALIF HSG AUTH MULTIFAMILY HSG REV 6%

0.96 32M
municipal

CMFA SPL FIN AGY CALIF ESSENTIAL HSG REV 4.5%

0.83 28M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.784%

0.82 27M
municipal

SAN DIEGO CALIF UNI SCH DIST 0%

0.77 25M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5%

0.75 25M
municipal

CMFA SPL FIN AGY XII CALIF ESSENTIAL HSG REV 4.375%

0.74 25M
municipal

Sponsor Center