See what your fund actually adds
Franklin Massachusetts Tax-Free Income Fund Class A FMAQX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | FMAQX | Replication |
|---|---|---|
| Annualized growth | -1.1% | -0.1% |
| Annualized volatility | 5.7% | 4.9% |
| Sharpe ratio | -0.16 | 0.00 |
| Maximum drawdown | 15.5% | 12.1% |
| Replication fit (R²) | 0.96 · Tracking error 1.1% | |
Replication portfolio
The published portfolio below is the investable basket used to model FMAQX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 96.4% |
| VCLT | FI · Long Corp | 3.6% |