Morningstar

Franklin Massachusetts Tax-Free Income Fund Class A FMAQX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 9.93  /  −0.10 %
  • Total Assets 275.8M
  • Adj. Expense Ratio
    0.900%
  • Expense Ratio 0.900%
  • Distribution Fee Level High
  • Share Class Type Front Load
  • Category Muni Massachusetts
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 3.26%
  • Effective Duration 7.65 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 9:40 PM GMT+0

Morningstar’s Analysis FMAQX

Will FMAQX 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 FMAQX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FMAQX 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 FMAQX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Franklin MA Tax-Free Income 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
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Portfolio Holdings FMAQX

More FMAQX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 27.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MASSACHUSETTS ST TRANSN FD REV 5%

4.62 15M
municipal

MASSACHUSETTS ST SPL OBLIG DEDICATED TAX REV 5.5%

4.06 13M
municipal

MASSACHUSETTS ST 5%

3.11 10M
municipal

MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 5.5%

2.96 10M
municipal

MASSACHUSETTS ST DEV FIN AGY REV 5.25%

2.85 9M
municipal

MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV 2.4%

1.99 7M
municipal

MASSACHUSETTS ST DEV FIN AGY REV 5.25%

1.99 7M
municipal

MASSACHUSETTS ST DEV FIN AGY REV 5.5%

1.88 6M
municipal

MASSACHUSETTS ST HSG FIN AGY 3.5%

1.77 6M
municipal

MASSACHUSETTS ST WTR RES AUTH 5.25%

1.75 6M
municipal

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