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Key Stats

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Expense Ratio Discount or Premium to NAV Total Assets Under Management 30-Day Average Daily Volume
0.71% -8.04% 154.75M 52668.33
Dividend Yield Turnover Ratio 1 Year Fund Level Flows Max Drawdown (All)
3.54% 14.00% -- Upgrade

Basic Info

Investment Strategy
The Fund seeks high current income exempt from federal income taxes. The Fund seeks to achieve its investment objective by investing primarily in intermediate-and long-term municipal debt securities issued by state and local governments. However, the Fund may invest in municipal obligations of any maturity. The Fund may invest up to 100% of its assets in municipal obligations rated below investment grade.
General
Security Type Closed-End Fund
Equity Style --
Fixed Income Style --
Broad Asset Class Municipal Bond
Broad Category Fixed Income
Category Name High Yield Muni
Category Index Bloomberg 65% High Grade/35% HY TR USD
Prospectus Objective Municipal Bond - National
Fund Owner Firm Name Franklin Templeton Investments
Prospectus Benchmark Index
Bloomberg Municipal TR USD 100.0%
Broad Asset Class Benchmark Index
^BBMBTR 100.0%
Manager Tenure
David Fare 10.84 yrs
Robert Amodeo 10.84 yrs
S. Leech 8.09 yrs

Net Fund Flows Versus Category

1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
No Data Available
1 Month
% Rank: --
-- Category Low
-- Category High
1 Year
% Rank: --
-680.22M Category Low
1.675B Category High
3 Months
% Rank: --
-- Category Low
-- Category High
3 Years
% Rank: --
-- Category Low
-- Category High
6 Months
% Rank: --
-- Category Low
-- Category High
5 Years
% Rank: --
-- Category Low
-- Category High
YTD
% Rank: --
-- Category Low
-- Category High
10 Years
% Rank: --
-- Category Low
-- Category High
Date Unavailable

Performance Versus Category

 
20%
15%
10%
5%
0
View Category Returns. Upgrade now.
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (Price)
--
--
--
--
--
--
--
--
Total Return (NAV)
--
--
--
--
--
--
--
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Category Rtn. (NAV)
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% Rank in Cat (NAV)
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As of May 20, 2022. Returns for periods of 1 year and above are annualized.

Annual Total Returns Versus Peers

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Name
2015
2016
2017
2018
2019
2020
2021
YTD
6.10%
-4.20%
7.54%
-2.27%
13.93%
3.01%
10.43%
-16.95%
3.30%
0.25%
5.45%
1.28%
7.54%
5.21%
1.52%
-10.16%
4.88%
-3.51%
8.81%
-9.63%
22.55%
4.37%
2.81%
-22.19%
7.83%
1.63%
10.55%
-4.49%
25.03%
5.88%
13.29%
-23.35%
2.99%
-2.36%
2.36%
-7.08%
21.00%
0.93%
11.08%
-23.18%
8.20%
4.43%
11.53%
-3.89%
28.84%
0.74%
7.04%
-21.71%
As of May 20, 2022.

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (5-23-22) 3.54%
30-Day SEC Yield (10-31-10) Upgrade
7-Day SEC Yield (4-17-19) Upgrade
Number of Holdings Upgrade
Bond
Current Yield 4.73%
Yield to Maturity Upgrade
Effective Duration Upgrade
Average Coupon Upgrade
Average Credit Score Upgrade
Average Price Upgrade
As of March 31, 2022

Asset Allocation

As of March 31, 2022.
Type % Net % Long % Short
Cash 0.01% Upgrade Upgrade
Stock 0.00% Upgrade Upgrade
Bond 99.99% Upgrade Upgrade
Convertible 0.00% Upgrade Upgrade
Preferred 0.00% Upgrade Upgrade
Other 0.00% Upgrade Upgrade

Top 10 Holdings

Name % Weight Price % Change
NEW JERSEY ST TRANSN TR FD AUTH 5.25%
3.18% -- --
PENNSYLVANIA ST TPK COMMN TPK REV 5%
2.14% -- --
JEFFERSON CNTY ALA SWR REV 6.5%
2.10% -- --
CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV 5%
2.08% -- --
JEFFERSON CNTY ALA SWR REV 0%
1.88% -- --
M-S-R ENERGY AUTH CALIF GAS REV 6.5%
1.69% -- --
M-S-R ENERGY AUTH CALIF GAS REV 7%
1.67% -- --
VIRGIN ISLANDS PUB FIN AUTH REV 6.75%
1.53% -- --
ANAHEIM CALIF PUB FING AUTH LEASE REV 5%
1.33% -- --
INDIANA ST FIN AUTH REV 5%
1.28% -- --

Basic Info

Investment Strategy
The Fund seeks high current income exempt from federal income taxes. The Fund seeks to achieve its investment objective by investing primarily in intermediate-and long-term municipal debt securities issued by state and local governments. However, the Fund may invest in municipal obligations of any maturity. The Fund may invest up to 100% of its assets in municipal obligations rated below investment grade.
General
Security Type Closed-End Fund
Equity Style --
Fixed Income Style --
Broad Asset Class Municipal Bond
Broad Category Fixed Income
Category Name High Yield Muni
Category Index Bloomberg 65% High Grade/35% HY TR USD
Prospectus Objective Municipal Bond - National
Fund Owner Firm Name Franklin Templeton Investments
Prospectus Benchmark Index
Bloomberg Municipal TR USD 100.0%
Broad Asset Class Benchmark Index
^BBMBTR 100.0%
Manager Tenure
David Fare 10.84 yrs
Robert Amodeo 10.84 yrs
S. Leech 8.09 yrs

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (5-23-22) 3.54%
30-Day SEC Yield (10-31-10) Upgrade
7-Day SEC Yield (4-17-19) Upgrade
Number of Holdings Upgrade
Bond
Current Yield 4.73%
Yield to Maturity Upgrade
Effective Duration Upgrade
Average Coupon Upgrade
Average Credit Score Upgrade
Average Price Upgrade
As of March 31, 2022

Fund Details

Key Dates
Inception Date 11/28/1988
Last Annual Report Date 10/31/2021
Last Prospectus Date 2/27/1998
Attributes
Enhanced Index Fund No
Index Fund No
Inverse Fund No
Leveraged Fund No
Fund of Funds No
Currency Hedged Fund No
Synthetic Replication Fund No
Has Dividend Investment Plan Yes
Socially Responsible Fund No

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