Franklin Dynamic Municipal Bond ETF
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.6%
1 yr return
12.8%
3 Yr Avg Return
1.1%
5 Yr Avg Return
2.4%
Net Assets
$219 M
Holdings in Top 10
16.9%
52 WEEK LOW AND HIGH
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 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FLMI - Profile
Distributions
- YTD Total Return 5.6%
- 3 Yr Annualized Total Return 1.1%
- 5 Yr Annualized Total Return 2.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.32%
- Dividend Yield 3.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFranklin Dynamic Municipal Bond ETF
-
Fund Family NameFranklin Templeton Group of Funds
-
Inception DateSep 05, 2017
-
Shares Outstanding4050000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDaniel 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.
FLMI - Performance
Return Ranking - Trailing
Period | FLMI Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.6% | -3.0% | 26.3% | 1.53% |
1 Yr | 12.8% | 1.7% | 37.9% | 6.52% |
3 Yr | 1.1%* | -10.2% | 3.3% | 6.78% |
5 Yr | 2.4%* | -6.8% | 1104.6% | 3.50% |
10 Yr | N/A* | -1.0% | 248.8% | 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% | 14.89% |
2022 | -12.9% | -39.7% | 0.3% | 68.72% |
2021 | 1.8% | -5.6% | 6.9% | 3.20% |
2020 | 3.8% | -2.6% | 310.0% | 3.13% |
2019 | 4.0% | 0.0% | 26.0% | 41.40% |
Total Return Ranking - Trailing
Period | FLMI Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.6% | -3.0% | 26.3% | 1.53% |
1 Yr | 12.8% | 1.7% | 37.9% | 6.52% |
3 Yr | 1.1%* | -10.2% | 3.3% | 6.78% |
5 Yr | 2.4%* | -6.8% | 1104.6% | 3.50% |
10 Yr | N/A* | -1.0% | 248.8% | 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% | 6.74% |
2022 | -10.2% | -39.7% | 1.1% | 62.15% |
2021 | 4.1% | -4.8% | 23761504.0% | 6.48% |
2020 | 6.1% | -1.5% | 17057.9% | 6.04% |
2019 | 6.8% | 0.2% | 3514.6% | 41.76% |
FLMI - Holdings
Concentration Analysis
FLMI | Category Low | Category High | FLMI % Rank | |
---|---|---|---|---|
Net Assets | 219 M | 3.22 M | 71.9 B | 69.49% |
Number of Holdings | 517 | 4 | 13418 | 24.77% |
Net Assets in Top 10 | 39 M | -317 M | 3.45 B | 71.64% |
Weighting of Top 10 | 16.86% | 1.9% | 100.1% | 52.70% |
Top 10 Holdings
- TENNESSEE ENERGY ACQUISITION CORP COMMODITY PROJECT REVENUE 2.90%
- CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE 2.84%
- PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE 1.85%
- NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 1.72%
- MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE 1.62%
- NEW YORK CITY NY MUNI WTR FIN AUTH WTR SWR SYS REVENUE 1.40%
- TEXAS ST MUNI GAS ACQUISITION SPLY CORP IV 1.21%
- TENNERGY CORP TN GAS REVENUE 1.18%
- IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REVENUE 1.11%
- CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT TAX 1.02%
Asset Allocation
Weighting | Return Low | Return High | FLMI % Rank | |
---|---|---|---|---|
Bonds | 100.06% | 0.00% | 150.86% | 22.55% |
Stocks | 0.00% | 0.00% | 99.89% | 54.22% |
Preferred Stocks | 0.00% | 0.00% | 0.08% | 47.20% |
Other | 0.00% | -3.72% | 51.88% | 49.33% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 46.93% |
Cash | 0.00% | -50.86% | 43.45% | 91.01% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FLMI % Rank | |
---|---|---|---|---|
Municipal | 92.55% | 44.39% | 100.00% | 89.24% |
Derivative | 0.00% | -3.72% | 51.88% | 47.14% |
Cash & Equivalents | 0.00% | 0.00% | 43.45% | 76.83% |
Securitized | 0.00% | 0.00% | 5.93% | 47.79% |
Corporate | 0.00% | 0.00% | 9.41% | 56.28% |
Government | 0.00% | 0.00% | 52.02% | 50.87% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FLMI % Rank | |
---|---|---|---|---|
US | 100.06% | 0.00% | 142.23% | 21.70% |
Non US | 0.00% | 0.00% | 23.89% | 50.93% |
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% | 94.14% |
Management Fee | 0.30% | 0.00% | 1.20% | 16.37% |
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% | 76.20% |
FLMI - Distributions
Dividend Yield Analysis
FLMI | Category Low | Category High | FLMI % Rank | |
---|---|---|---|---|
Dividend Yield | 3.64% | 0.00% | 14.51% | 2.79% |
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% | 29.72% |
Capital Gain Distribution Analysis
FLMI | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 01, 2024 | $0.075 | OrdinaryDividend |
Sep 03, 2024 | $0.080 | OrdinaryDividend |
Aug 01, 2024 | $0.090 | OrdinaryDividend |
Jul 01, 2024 | $0.076 | OrdinaryDividend |
Jun 03, 2024 | $0.090 | OrdinaryDividend |
May 01, 2024 | $0.090 | OrdinaryDividend |
Apr 01, 2024 | $0.080 | OrdinaryDividend |
Mar 01, 2024 | $0.075 | OrdinaryDividend |
Feb 01, 2024 | $0.083 | OrdinaryDividend |
Dec 15, 2023 | $0.087 | OrdinaryDividend |
Dec 01, 2023 | $0.077 | OrdinaryDividend |
Nov 01, 2023 | $0.084 | OrdinaryDividend |
Oct 02, 2023 | $0.068 | OrdinaryDividend |
Sep 01, 2023 | $0.078 | OrdinaryDividend |
Aug 01, 2023 | $0.073 | OrdinaryDividend |
Jul 03, 2023 | $0.071 | OrdinaryDividend |
Jun 01, 2023 | $0.083 | OrdinaryDividend |
May 01, 2023 | $0.068 | OrdinaryDividend |
Apr 03, 2023 | $0.088 | OrdinaryDividend |
Mar 01, 2023 | $0.065 | OrdinaryDividend |
Feb 01, 2023 | $0.058 | OrdinaryDividend |
Dec 16, 2022 | $0.076 | OrdinaryDividend |
Dec 01, 2022 | $0.065 | OrdinaryDividend |
Nov 01, 2022 | $0.062 | OrdinaryDividend |
Oct 03, 2022 | $0.061 | OrdinaryDividend |
Sep 01, 2022 | $0.067 | OrdinaryDividend |
Aug 01, 2022 | $0.058 | OrdinaryDividend |
Jul 01, 2022 | $0.057 | OrdinaryDividend |
Jun 01, 2022 | $0.039 | OrdinaryDividend |
May 02, 2022 | $0.046 | OrdinaryDividend |
Apr 01, 2022 | $0.056 | OrdinaryDividend |
Mar 01, 2022 | $0.045 | OrdinaryDividend |
Feb 01, 2022 | $0.090 | OrdinaryDividend |
Dec 01, 2021 | $0.059 | OrdinaryDividend |
Oct 29, 2021 | $0.052 | OrdinaryDividend |
Sep 30, 2021 | $0.053 | OrdinaryDividend |
Aug 31, 2021 | $0.051 | OrdinaryDividend |
Jul 30, 2021 | $0.052 | OrdinaryDividend |
Jun 30, 2021 | $0.059 | OrdinaryDividend |
May 28, 2021 | $0.048 | OrdinaryDividend |
Apr 30, 2021 | $0.049 | OrdinaryDividend |
Mar 31, 2021 | $0.061 | OrdinaryDividend |
Feb 26, 2021 | $0.045 | OrdinaryDividend |
Jan 29, 2021 | $0.065 | OrdinaryDividend |
Dec 30, 2020 | $0.043 | OrdinaryDividend |
Nov 30, 2020 | $0.047 | OrdinaryDividend |
Oct 30, 2020 | $0.049 | OrdinaryDividend |
Sep 30, 2020 | $0.041 | OrdinaryDividend |
Aug 31, 2020 | $0.044 | OrdinaryDividend |
Jul 31, 2020 | $0.042 | OrdinaryDividend |
Jun 30, 2020 | $0.046 | OrdinaryDividend |
May 29, 2020 | $0.041 | OrdinaryDividend |
Apr 30, 2020 | $0.053 | OrdinaryDividend |
Mar 31, 2020 | $0.050 | OrdinaryDividend |
Feb 28, 2020 | $0.045 | OrdinaryDividend |
Jan 31, 2020 | $0.050 | OrdinaryDividend |
Dec 30, 2019 | $0.047 | OrdinaryDividend |
Nov 29, 2019 | $0.037 | OrdinaryDividend |
Oct 31, 2019 | $0.057 | OrdinaryDividend |
Sep 30, 2019 | $0.044 | OrdinaryDividend |
Aug 30, 2019 | $0.053 | OrdinaryDividend |
Jul 31, 2019 | $0.061 | OrdinaryDividend |
Jun 28, 2019 | $0.042 | OrdinaryDividend |
May 31, 2019 | $0.127 | OrdinaryDividend |
Apr 30, 2019 | $0.049 | OrdinaryDividend |
Mar 29, 2019 | $0.060 | OrdinaryDividend |
Feb 28, 2019 | $0.050 | OrdinaryDividend |
Jan 31, 2019 | $0.061 | OrdinaryDividend |
Dec 28, 2018 | $0.052 | OrdinaryDividend |
Nov 30, 2018 | $0.052 | OrdinaryDividend |
Oct 31, 2018 | $0.057 | OrdinaryDividend |
Sep 28, 2018 | $0.046 | OrdinaryDividend |
Aug 31, 2018 | $0.053 | OrdinaryDividend |
Jul 31, 2018 | $0.050 | OrdinaryDividend |
Jun 29, 2018 | $0.046 | OrdinaryDividend |
May 31, 2018 | $0.057 | OrdinaryDividend |
Apr 30, 2018 | $0.041 | OrdinaryDividend |
Mar 29, 2018 | $0.049 | OrdinaryDividend |
Feb 28, 2018 | $0.038 | OrdinaryDividend |
Jan 31, 2018 | $0.047 | OrdinaryDividend |
Dec 28, 2017 | $0.038 | OrdinaryDividend |
Nov 30, 2017 | $0.032 | OrdinaryDividend |
Oct 31, 2017 | $0.016 | OrdinaryDividend |
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 | 7.35 | 1.58 |