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Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Franklin Dynamic Municipal Bond ETF

FLMI | Active ETF

$24.85

$219 M

4.45%

$1.11

0.30%

Vitals

YTD Return

6.3%

1 yr return

9.5%

3 Yr Avg Return

1.0%

5 Yr Avg Return

2.6%

Net Assets

$219 M

Holdings in Top 10

15.2%

52 WEEK LOW AND HIGH

$25.1
$23.80
$25.06

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 27.62%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Franklin Dynamic Municipal Bond ETF

FLMI | Active ETF

$24.85

$219 M

4.45%

$1.11

0.30%

FLMI - Profile

Distributions

  • YTD Total Return 6.3%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.32%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin Dynamic Municipal Bond ETF
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Sep 05, 2017
  • Shares Outstanding
    4050000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Workman

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets in municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax. Although the Fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of the Fund’s net assets may be in securities that pay interest that may be subject to the federal alternative minimum tax and in securities that pay interest subject to other federal or state income taxes.

The Fund may invest in debt and fixed income securities of any maturity. Under normal market conditions, the Fund seeks to maintain an average effective duration of two to eight years. Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of structural complexities (for example, some bonds can be prepaid by the issuer). The Fund may invest in municipal securities that are issued on a when-issued or delayed delivery basis.

The Fund may invest in municipal securities rated in any rating category by U.S. nationally recognized rating services (or unrated or short-term rated securities of comparable quality), including below investment grade (also known as "junk bonds") and defaulted securities.

The Fund also may invest in insured municipal securities, municipal lease obligations, variable and floating rate securities (primarily variable rate demand notes), zero coupon securities and deferred interest securities.

Although the investment manager will search for investments across a large number of municipal securities that finance different types of projects, from time to time, based on economic conditions, the Fund may have significant positions in municipal securities that finance similar types of projects.

The Fund may invest in municipal securities that are covered by insurance policies that guarantee the timely payment of principal and interest.

The investment manager selects securities that it believes will provide the best balance between risk and return within the Fund's range of allowable investments and typically invests with a long-term time horizon. This means it generally holds securities in the Fund's portfolio for income purposes, although the investment manager may sell a security at any time if it believes it could help the Fund meet its goal. With a focus on income, individual securities are considered for purchase or sale based on various factors and considerations, including credit profile, risk,

structure, pricing, portfolio impact, duration management, restructuring, opportunistic trading and tax loss harvesting opportunities.

Read More

FLMI - Performance

Return Ranking - Trailing

Period FLMI Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -4.9% 34.7% 1.68%
1 Yr 9.5% -1.6% 40.8% 1.48%
3 Yr 1.0%* -10.3% 5.2% 8.40%
5 Yr 2.6%* -6.5% 1104.6% 3.37%
10 Yr N/A* -0.9% 248.9% 14.12%

* Annualized

Return Ranking - Calendar

Period FLMI Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -1.4% 41.0% 14.88%
2022 -12.9% -39.7% 0.3% 68.81%
2021 1.8% -5.6% 6.9% 3.23%
2020 3.8% -2.6% 310.0% 2.87%
2019 4.0% 0.0% 26.0% 41.61%

Total Return Ranking - Trailing

Period FLMI Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -4.9% 34.7% 1.68%
1 Yr 9.5% -1.6% 40.8% 1.48%
3 Yr 1.0%* -10.3% 5.2% 8.40%
5 Yr 2.6%* -6.5% 1104.6% 3.37%
10 Yr N/A* -0.9% 248.9% N/A

* Annualized

Total Return Ranking - Calendar

Period FLMI Return Category Return Low Category Return High Rank in Category (%)
2023 7.9% -1.3% 41.0% 6.67%
2022 -10.2% -39.7% 1.1% 62.18%
2021 4.1% -4.8% 23761504.0% 6.53%
2020 6.1% -1.5% 17057.9% 5.81%
2019 6.8% 0.2% 3514.6% 41.83%

FLMI - Holdings

Concentration Analysis

FLMI Category Low Category High FLMI % Rank
Net Assets 219 M 3.22 M 71.9 B 69.83%
Number of Holdings 602 4 13418 20.75%
Net Assets in Top 10 49.2 M -317 M 3.09 B 67.49%
Weighting of Top 10 15.24% 1.8% 100.3% 63.98%

Top 10 Holdings

  1. CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE 2.36%
  2. TENNESSEE ENERGY ACQUISITION CORP COMMODITY PROJECT REVENUE 2.12%
  3. TENNERGY CORP TN GAS REVENUE 1.72%
  4. NEW YORK CITY NY MUNI WTR FIN AUTH WTR SWR SYS REVENUE 1.45%
  5. NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.38%
  6. ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE 1.37%
  7. PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE 1.35%
  8. MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 1.32%
  9. VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE 1.30%
  10. TEXAS ST MUNI GAS ACQUISITION SPLY CORP IV 0.88%

Asset Allocation

Weighting Return Low Return High FLMI % Rank
Bonds 		99.32% 0.00% 150.86% 38.86%
Cash 		0.68% -50.86% 44.62% 62.19%
Stocks 		0.00% 0.00% 99.78% 52.89%
Preferred Stocks 		0.00% 0.00% 0.07% 45.13%
Other 		0.00% -3.69% 53.54% 49.29%
Convertible Bonds 		0.00% 0.00% 0.93% 44.84%

Bond Sector Breakdown

Weighting Return Low Return High FLMI % Rank
Municipal 		92.55% 44.39% 100.00% 89.14%
Derivative 		0.00% -3.69% 53.54% 48.09%
Cash & Equivalents 		0.00% 0.00% 44.41% 76.16%
Securitized 		0.00% 0.00% 5.93% 45.72%
Corporate 		0.00% 0.00% 9.41% 54.75%
Government 		0.00% 0.00% 52.02% 48.82%

Bond Geographic Breakdown

Weighting Return Low Return High FLMI % Rank
US 		99.32% 0.00% 142.23% 36.94%
Non US 		0.00% 0.00% 23.89% 47.15%

FLMI - Expenses

Operational Fees

FLMI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.01% 8.02% 93.88%
Management Fee 0.30% 0.00% 1.20% 16.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% 18.75%

Sales Fees

FLMI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FLMI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FLMI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 27.62% 0.00% 283.00% 76.06%

FLMI - Distributions

Dividend Yield Analysis

FLMI Category Low Category High FLMI % Rank
Dividend Yield 4.45% 0.00% 14.51% 2.82%

Dividend Distribution Analysis

FLMI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FLMI Category Low Category High FLMI % Rank
Net Income Ratio 2.32% -0.53% 5.33% 29.50%

Capital Gain Distribution Analysis

FLMI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

FLMI - Fund Manager Analysis

Managers

Daniel Workman

Start Date

Tenure

Tenure Rank

Aug 31, 2017

4.75

4.8%

Daniel Workman, CFA, has been an analyst or portfolio manager since 2009,providing research and advice on the purchases and sales of individual securities, and portfolio risk assessment. He joined Franklin Templeton Investments in 2003.

James Conn

Start Date

Tenure

Tenure Rank

Aug 31, 2017

4.75

4.8%

Mr. Conn is a senior vice president and portfolio manager with Franklin Advisers, Inc, his employer since 1996. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated management requirements. Mr. Conn holds the Chartered Financial Analyst designation.

Ben Barber

Start Date

Tenure

Tenure Rank

Aug 01, 2020

1.83

1.8%

Mr. Barber is is the Director of Franklin's Municipal Bond Department. Prior to joining Franklin Templeton, he was co-head of municipal bonds at Goldman Sachs Asset Management. He first joined Franklin Templeton in 1991 and rejoined again in April 2020.

Francisco Rivera

Start Date

Tenure

Tenure Rank

Nov 02, 2020

1.58

1.6%

Francisco Rivera,Vice President, has been a lead portfolio manager since 1996. He has primary responsibility for the investments. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He joined Franklin Templeton Investments in 1994.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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