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Managed Fund Since 2024
Fixed Income Active
FLUD Franklin Ultra Short Bond ETF
- A broader opportunity set. The fund invests in a diversified portfolio composed of short duration, investment-grade money market and other fixed income securities.
- Active risk management. In today’s complex bond market, the fund’s experienced managers actively manage risk with the goal of superior risk-adjusted performance over time.
- Higher income potential. Access to a wider range of income opportunities means the fund may offer higher income potential than other short-term investments.
Popular Documents
Total Net Assets
$167.41M
As of 11/09/2025 (Updated Daily)
Overview
Fund Facts
Fund description
The fund seeks to provide a high level of current income as is consistent with prudent investing, while seeking to preserve shareholder's capital by primarily investing in bonds and investments that provide exposure to bonds. The fund targets an estimated average portfolio duration of one (1) year or less.
- Benchmark
- ICE BofA US 3-Month Treasury Bill Index
- Fund Inception Date
- 07/14/2020
- Listing Exchange
- NYSE Arca
- Dividend Frequency, if any
- Monthly
- Distribution Rate at NAV
4 As of 11/07/2025 (Updated Daily) - 4.86%
Identifiers
- Ticker
- FLUD
- CUSIP Code
- 35473P496
- ISIN Code
- US35473P4963
- Bloomberg Code
- FLUD US
Average Annual Total Returns As of 09/30/2025
- 5.41%1 Year
- 5.56%3 Years
- 3.23%5 Years
- —10 Years
- 3.18%Since Inception
07/14/2020
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 11/06/2025 % of Total (Updated Daily)
Additional Fund Info
- Fiscal Year End
- March 31
- ETF Type
- Active
- Morningstar Category
- Ultrashort Bond
Trading Characteristics
- Shares Outstanding
- 6,700,000
- Daily Volume
- 11,122
- 20-Day Average Volume
- 32675.30
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
Franklin Templeton Fixed Income is a fixed income specialist with a measured "no surprises" approach that is committed to the goal of delivering clients consistent, predictable fixed income results. We pursue dimensional sources of potential alpha across all global fixed income securities, sectors, and markets.
Commentary Highlights
September 30, 2025- Markets: Market sentiment improved across the third quarter of 2025 (Q3) due to a partial resolution of some of the outstanding trade policy concerns and a rate cut of 25 basis points (bps) by the US Federal Reserve (Fed), which were both well received by the market. The Fed signaled that more cuts were likely to come by the end of this year. This bolstered markets, which viewed that the cut was addressing some of the weakening economic measures, such as the status of the US labor market. Per Bloomberg, the fixed income spread markets performed well as corporate bond spreads reached multidecade lows by the end of the quarter.
- Contributors: Exposure to the investment-grade (IG) banking and consumer cyclicals corporate bond sectors.
- Detractors: No material detractors for the quarter.
- Outlook: There still remains a high level of uncertainty within fixed income markets. The path of rate cuts by the Fed, tariff policies and tight spreads on many fixed income sectors continue to cause concern.
Franklin Templeton Fixed Income
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Managed Fund Since 2024
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Managed Fund Since 2024
Latest Insights
October 30, 2025
October 28, 2025
October 9, 2025
September 22, 2025
Performance
Average Annual Total Returns
As of 09/30/2025
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Returns are based on Market Price or NAV, assume the reinvestment of all distributions and the deduction of all Fund expenses. Performance would have been lower if expenses had not been waived in various periods. Returns for periods of less than one year are not annualized.
Selected Month September 2025
Franklin Ultra Short Bond ETF - Market Price Return (%)
Month End
As of 09/30/2025
Franklin Ultra Short Bond ETF - NAV Return (%)
Month End
As of 09/30/2025
ICE BofA US 3-Month Treasury Bill Index (%)
Month End
As of 09/30/2025
Ratings 3
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Portfolio
Assets
As of11/09/2025 (Updated Daily)
- Total Net Assets
- $167.41 Million
Positions
As of 11/06/2025 (Updated Daily)
Number of Holdings
- Fund
- 323
Portfolio Statistics
As of 11/06/2025 (Updated Daily)
Effective Duration
- Fund
- 0.51 Years
- Fund
- 1.23 Years
Maturity Allocation
As of 11/06/2025 - Market Value % of Total (Updated Daily)
| Maturity | Fund |
|---|---|
| 0 to 1 Year | 47.23% |
| 1 to 2 Years | 27.14% |
| 2 to 3 Years | 25.35% |
| 3 to 5 Years | 0.28% |
Holdings
As of 11/07/2025 (Updated Daily)
CASH
Net Current Assets
CAIXABANK 6.684 9/27
TORONTO DOM BAN FRN 12/26
US BANK NA OH 4.507 10/27
ING GROEP NV FRN 9/27
AMERICAN EXPRESS FRN 2/28
AUST & NZ BANK FRN 9/27
LLOYDS BK GR PLC FRN 8/27
WESTPAC BANKING FRN 10/26
Distributions & Tax
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 4.86%
At Market Price 4.86%
Distributions are not guaranteed and are subject to change.
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
11/04/2025
10/02/2025
09/02/2025
08/01/2025
07/01/2025
06/02/2025
05/01/2025
04/01/2025
03/03/2025
02/03/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Premium/Discount Analysis 10
As of 09/30/2025 (Updated Quarterly)
Premium / Discount
- Total Days in Period
- 64
- Days at NAV
- 10
- Days at Premium
- 46
- Days at Discount
- 8
- Greatest Premium
- $0.40
- Greatest Discount
- $-0.04
| Premium/Discount Analysis | Breakdown |
|---|---|
| 0% to 0.5% | 46 days |
| 0.0% | 10 days |
| -0.5% to 0% | 8 days |
Historical Premium/Discount 11
As of 11/07/2025 (Updated Daily)
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Ultra Short Bond ETF | |||
| Product Commentary - Franklin Ultra Short Bond ETF |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Ultra Short Bond ETF - Single Class | |||
| Annual Financial Statements and Other Information - Franklin Templeton ETF Trust 2 | |||
| Semi-Annual Report - Franklin Ultra Short Bond ETF - Single Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Income Equity Focus ETF | |||
| Prospectus - Franklin Templeton ETF Trust 2 Active Funds | |||
| Summary Prospectus - Franklin Ultra Short Bond ETF | |||
| Statement of Additional Information - Franklin Templeton ETF Trust 2 Active Funds | |||
| Fiscal Q1 Holdings - Franklin Templeton ETF Trust Smart Beta Funds | |||
| Fiscal Q3 Holdings - Franklin Templeton ETF Trust Smart Beta Funds |
Risks
All investments involve risks, including possible loss of principal. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. The fund should not be considered an alternative to money market funds or certificates of deposit (CDs). To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
All investments involve risk, including possible loss of principal. Please see each product's web page for specific details regarding investment objective, risks, performance, and other important information. Review this information carefully before you make any investment decision. Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.
Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully.
Franklin Templeton, its affiliated companies, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
ETFs trade like stocks, fluctuate in market value and may trade at prices above or below their net asset value. Brokerage commissions and ETF expenses will reduce returns. ETF shares may be bought or sold throughout the day at their market price (MP), not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market. Prior to trading in the secondary market, shares of the fund are "created" at NAV by market makers, large investors and institutions only in block-size Creation Units. Each "creator" or "Authorized Participant" enters into an authorized participant agreement with Franklin Distributors, LLC. Only an Authorized Participant may create or redeem Creation Units directly with the fund. Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.
Franklin Distributors, LLC serves as the distributor of Creation Units for the ETFs on an agency basis. Franklin Distributors, LLC does not maintain a secondary market in the funds' shares.
Redemption payments will be effected within the specified number of calendar days following the date on which a request for redemption in proper form is made. For more information, please see the ETF’s statement of additional information (SAI) which can be found on the fund’s webpage.
The ICE BofA 3-Month U.S. Treasury Bill Index is an unmanaged index that comprises a single U.S. Treasury issue with approximately three months to final maturity, purchased at the beginning of each month and held for one full month.
Source: The index data referenced herein is the property of Intercontinental Exchange ("ICE") and/or its licensors and has been licensed for use by Franklin Templeton. ICE and its licensors accept no liability in connection with this use.