Returns
| Series | 1 week | 1 month | 3 months | 6 months | YTD | 1 year | 3 years (ann.) | 5 years (ann.) | 10 years (ann.) | Since inception (ann.) |
|---|---|---|---|---|---|---|---|---|---|---|
| Market-price return | +3.23% | -2.04% | -12.06% | -7.84% | -8.13% | -6.04% | +2.75% | -7.47% | -2.71% | -1.39% |
| Market-price total return | +3.23% | -1.47% | -10.62% | -5.03% | -4.11% | -0.64% | +8.10% | -2.52% | +2.44% | +4.49% |
| NAV return | +2.03% | -4.14% | -10.95% | -10.42% | -9.75% | -9.75% | -0.06% | -6.11% | -3.00% | -1.27% |
| NAV total return | +2.03% | -3.62% | -9.56% | -7.85% | -6.05% | -4.92% | +4.74% | -1.39% | +1.85% | +4.59% |
Performance through Oct 14, 2026. Price and NAV returns are simple changes; total returns reinvest each distribution at the series value on its ex-date (first observation on/after). Periods of one year or less are cumulative; longer periods are annualised. Series are built from unadjusted prices plus the distribution record so no distribution is counted twice. Corporate actions: the vendor price series is split-adjusted; rights offerings and mergers are not restated — check Corporate Actions.
Growth of $10,000, five years
Risk statistics
| Statistic | Market price | NAV | Specification |
|---|---|---|---|
| Volatility, 1 year | 0.13% | 0.07% | annualised SD of daily total returns, √252 |
| Volatility, 3 years | 0.13% | 0.08% | as above |
| Volatility, 5 years | 0.17% | 0.08% | as above |
| Maximum drawdown, 3 years | -16.23% | -12.29% | peak-to-trough on the total-return index |
| Sharpe ratio, 3 years | 0.34 | 0.13 | excess over FRED DGS3MO (window average) (avg 4.52%), annualised |
| Sortino ratio, 3 years | 0.52 | 0.17 | downside deviation of excess returns |
| Beta vs. benchmark proxy, 3 years | 1.54 | — | MUB (U.S. municipal bond ETF proxy), daily, aligned dates |
| Correlation, 3 years | 0.49 | — | as above |
| Observations (3y) | 751 | — | minimum 60; rankings require 500 |
Market-price and NAV volatility are different quantities and are never mixed. NAV volatility for funds holding stale-marked or illiquid assets can understate economic risk.
CEF Explorer research page for Franklin Managed Municipal Income Trust. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.