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Trending ETFs

Name

As of 07/10/2024

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

$23.95

$110 M

3.44%

$0.82

0.30%

Vitals

YTD Return

1.1%

1 yr return

5.4%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

1.1%

Net Assets

$110 M

Holdings in Top 10

26.0%

52 WEEK LOW AND HIGH

$23.9
$21.96
$24.25

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 48.41%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/10/2024

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

$23.95

$110 M

3.44%

$0.82

0.30%

FLMB - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.34%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin Municipal Green Bond ETF
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Sep 05, 2017
  • Shares Outstanding
    4450000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Conn

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 invested in securities that pay interest that may be subject to the federal alternative minimum tax and, although not anticipated, in securities that pay interest subject to other federal or state income taxes.

In addition, the Fund invests at least 80% of its net assets in municipal green bonds. Municipal “green bonds” are bonds that promote environmental sustainability. The proceeds of green bonds are typically used for one or more of the following purposes: renewable energy, energy efficiency, pollution prevention and control, environmentally sustainable management of living natural resources and land use, terrestrial and aquatic biodiversity conservation, clean transportation, sustainable water and wastewater management, climate change adaptation, eco-efficient and/or circular economy adapted products, production technologies and processes or green buildings that meet regional, national or internationally recognized standards or certifications.

A municipal bond issuer can choose to assign a “green bond” or similar label to its bonds in its offering documents: however, there is no regulation of green bonds as a class and no universal framework for issuing green bonds. In order to determine a green bond’s authenticity, the investment manager completes due diligence on each bond to be purchased to determine whether it meets the “green bond” definition above. After reviewing offering documents and issuer websites, and, if necessary, conferring with the underwriter and issuer, the investment manager places prospective green bonds into one of the following three categories:

·Eligible for investment based exclusively on an internal evaluation of the bond. The investment manager determines that bond proceeds are being issued for environmentally-friendly projects or programs and that the issuer has adequate internal controls and disclosure practices.

·Eligible for investment based on an internal evaluation of the bond as well as an external evaluation by an independent party. The due diligence process is identical, but the investment manager also leverages an independent

evaluation that some issuers engage to verify that the green bond label has been used appropriately to make its determination of authenticity.

·Not eligible for investment. The investment manager places bonds in this category if bond proceeds are not clearly used to promote environmental sustainability, project descriptions are inadequate, or disclosure practices and internal controls are weak.

The investment manager screens all labeled green bonds and bonds with similar labels, but it also will consider bonds with no label for investment by the Fund. The due diligence process and categorization of non-labeled green bonds and labeled green bonds is identical.

The Fund may invest in securities of any maturity or duration. In addition, the Fund may invest in municipal securities issued by U.S. Territories. The Fund does not necessarily focus its investments in a particular state or territory.

The Fund buys predominately municipal securities rated, at the time of purchase, in one of the top four ratings categories by one or more U.S. nationally recognized rating services (or comparable unrated or short-term rated securities). The Fund may hold up to 20% of its net assets in municipal securities rated below investment grade (or comparable unrated or short-term rated 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 searches 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 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.

 
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FLMB - Performance

Return Ranking - Trailing

Period FLMB Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -3.2% 21.6% 39.79%
1 Yr 5.4% -1.4% 33.5% 16.92%
3 Yr -1.6%* -11.5% 3.0% 67.46%
5 Yr 1.1%* -6.7% 1102.2% 22.15%
10 Yr N/A* -0.6% 248.5% 14.21%

* Annualized

Return Ranking - Calendar

Period FLMB Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -1.4% 41.0% 13.49%
2022 -14.5% -39.7% 0.3% 85.33%
2021 -0.9% -5.6% 6.9% 67.47%
2020 5.1% -2.6% 310.0% 2.18%
2019 6.6% 0.0% 26.0% 3.84%

Total Return Ranking - Trailing

Period FLMB Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -3.2% 21.6% 39.79%
1 Yr 5.4% -1.4% 33.5% 16.92%
3 Yr -1.6%* -11.5% 3.0% 67.46%
5 Yr 1.1%* -6.7% 1102.2% 22.15%
10 Yr N/A* -0.6% 248.5% N/A

* Annualized

Total Return Ranking - Calendar

Period FLMB Return Category Return Low Category Return High Rank in Category (%)
2023 7.7% -1.3% 41.0% 8.02%
2022 -12.2% -39.7% 1.1% 86.52%
2021 0.8% -4.8% 23761504.0% 69.79%
2020 7.4% -1.5% 17057.9% 3.13%
2019 9.2% 0.2% 3514.6% 5.94%

FLMB - Holdings

Concentration Analysis

FLMB Category Low Category High FLMB % Rank
Net Assets 110 M 3.22 M 71.9 B 84.39%
Number of Holdings 142 2 13203 73.21%
Net Assets in Top 10 29.4 M -317 M 3.56 B 78.02%
Weighting of Top 10 26.01% 1.4% 100.2% 19.19%

Top 10 Holdings

  1. CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE 3.32%
  2. CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE 3.07%
  3. CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE 2.95%
  4. INTERMOUNTAIN PWR AGY UT PWR SPLY REVENUE 2.91%
  5. ILLINOIS FIN AUTH LEASE REVENUE 2.88%
  6. CNTRL VLY WTR RECLAMATION FAC UT SWR REVENUE 2.65%
  7. CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE 2.34%
  8. PORT OF PORTLAND OR ARPT REVENUE 2.18%
  9. MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE 1.86%
  10. SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE 1.86%

Asset Allocation

Weighting Return Low Return High FLMB % Rank
Bonds
98.72% 0.00% 150.86% 48.99%
Cash
1.28% -50.86% 46.80% 48.63%
Stocks
0.00% 0.00% 100.23% 49.84%
Preferred Stocks
0.00% 0.00% 0.56% 43.17%
Other
0.00% -3.18% 33.35% 47.92%
Convertible Bonds
0.00% 0.00% 0.93% 43.15%

Bond Sector Breakdown

Weighting Return Low Return High FLMB % Rank
Municipal
97.44% 44.39% 100.00% 61.88%
Derivative
0.00% -3.18% 19.67% 45.06%
Cash & Equivalents
0.00% 0.00% 46.24% 75.16%
Securitized
0.00% 0.00% 5.93% 44.39%
Corporate
0.00% 0.00% 9.41% 54.11%
Government
0.00% 0.00% 52.02% 47.52%

Bond Geographic Breakdown

Weighting Return Low Return High FLMB % Rank
US
98.72% 0.00% 142.23% 46.81%
Non US
0.00% 0.00% 23.89% 45.38%

FLMB - Expenses

Operational Fees

FLMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.01% 20.65% 94.21%
Management Fee 0.30% 0.00% 1.20% 16.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% 18.93%

Sales Fees

FLMB 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

FLMB 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.

FLMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.41% 0.00% 283.00% 92.15%

FLMB - Distributions

Dividend Yield Analysis

FLMB Category Low Category High FLMB % Rank
Dividend Yield 3.44% 0.00% 14.51% 7.73%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FLMB Category Low Category High FLMB % Rank
Net Income Ratio 1.34% -0.53% 5.33% 78.03%

Capital Gain Distribution Analysis

FLMB Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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FLMB - Fund Manager Analysis

Managers

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.

Daniel Workman


Start Date

Tenure

Tenure Rank

Nov 02, 2020

1.58

1.6%

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.

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 7.37 1.58