Fixed Income Active

MULT Franklin Multisector Income ETF

  •  Active management. A dynamic, best-ideas portfolio with flexibility to pursue diversified sources of alpha and attractive income generating investment opportunities.
  • Risk-focused. The team's unique portfolio construction approach analyzes markets in more granular ways to allocate risk with greater precision and intent.
  • Global expertise. Leverages the distinct research capabilities of the Franklin Templeton Fixed Income team which spans across all global fixed income markets, including securitized, corporate credit and emerging market debt.

Popular Documents

View All
NAV 1 $0.00(0.00%)
$25.28
As of 10/31/2025
YTD Total Returns At NAV 2
—
As of 10/31/2025
Total Net Assets
$15.17M
As of 11/02/2025 (Updated Daily)

Sign in to view documents

This feature is not available at your firm

Skipped to Overview Section Content

Overview

Fund Facts

Fund description

The fund seeks to maximize current income and has a secondary goal of capital appreciation over the long term. The investment manager allocates the portfolio opportunistically across a diverse range of fixed income sectors, including bonds, government and agency securities, corporate loans, and mortgage-backed securities.

Benchmark
Bloomberg US Aggregate Index
Fund Inception Date
08/26/2025
Listing Exchange
NASDAQ - XNMS
Dividend Frequency, if any
Monthly
Distribution Rate at NAV 3As of 10/31/2025 (Updated Daily)
4.17%

Expenses & Fees

As of 08/26/2025
Gross Expense Ratio4
0.39%
Net Expense Ratio4,5
0.39%

Identifiers

Ticker
MULT
CUSIP Code
35473P355
ISIN Code
US35473P3551
Bloomberg Code
MULT US

Average Annual Total Returns

View performance section for additional info As of 09/30/2025
  • —1 Year
  • —3 Years
  • —5 Years
  • —10 Years
  • 0.48%Since Inception
    08/26/2025

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.

Additional Fund Info

Fiscal Year End
March 31
ETF Type
Active
Morningstar Category
Multisector Bond

Trading Characteristics

As of 10/31/2025 (Updated Daily)
Shares Outstanding
600,000
Daily Volume
3
20-Day Average Volume
122.25

Sign in to view documents

Manager and Commentary

About the Team

Franklin Income Investors

Franklin Income Investors has delivered consistent income for over 75 years. As pioneers in multi-asset income investing, our team takes a dynamic investment approach for investors seeking consistent income and growth.

Franklin Templeton Fixed Income
[Michael V Salms avatar]

Managed Fund Since 2025

[Patrick A. Kleins avatar]

Managed Fund Since 2025

[Albert W Chans avatar]

Managed Fund Since 2025

Portfolio Manager Profile
Years of Experience
Manager Location

Latest Insights

August 4, 2025

Mid-year update: Staying diversified and income-focused

May 5, 2025

Income diversification amid market uncertainty

February 5, 2025

Income diversification for uncertain times

January 13, 2025

Staying nimble and diversified: Capitalizing on income opportunities in 2025

Sign in to view documents

Skipped to Performance Section Content

Performance

Calendar Year 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.

Franklin Multisector Income ETF - Market Price Return (%)
Franklin Multisector Income ETF - NAV Return (%)
Bloomberg US Aggregate Index (%)
Skipped to Portfolio Section Content

Portfolio

Assets

As of11/02/2025 (Updated Daily)

Total Net Assets
$15.17 Million

Positions

As of 10/30/2025 (Updated Daily)

Number of Holdings
Fund
243

Portfolio Statistics

As of 10/30/2025 (Updated Daily)

Average Weighted Maturity
Fund
4.61 Years
Effective Duration
Fund
3.55 Years

Credit Quality Exposure 10

As of 09/30/2025 - Notional Exposure (Updated Monthly)

Credit Quality Fund
AAA
5.15%
AA
25.79%
A
3.80%
BBB
17.88%
BB
21.74%
B
20.96%
CCC
1.71%
Not Rated
7.80%
Not Applicable
0.44%
Cash & Cash Equivalents
3.09%

Chart

Bar chart with 10 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.43501 to 25.7911.
End of interactive chart.

Holdings

As of 10/31/2025 (Updated Daily)

RECV IRSUSD3.63%2030-09-1
RECV IRS USD FIXED 3.13%
RECV IRSUSD3.58%2027-09-1
US TREASURY N/B 4 2/30
RECV IRSUSD3.18%2030-12-1
RECV IBXXLLTRSOFRINDX202
RECV IRSUSD3.53%2035-12-1
FNCL 5.5 11/25
IFT - MONEY MARKET PORT
G2SF 5.5 11/25
Skipped to Distributions Section Content

Distributions & Tax

Distribution Frequency
MonthlyThis fund is an ex-Dividend fund
Capital Gain Distributions
December

Rates and Yields Read important information about results and other investment disclosures

Distribution Rate 3

As of 10/31/2025 (Updated Daily)
At Net Asset Value (NAV) 4.17%
At Market Price 4.16%

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
Distribution amounts may be estimates

10/02/2025

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.

Skipped to Pricing Section Content

Pricing

Pricing History

As of 10/31/2025 (Updated Daily)

Chart

Line chart with 2 lines.
The chart has 1 X axis displaying Time. Data ranges from 2025-08-26 00:00:00 to 2025-10-31 00:00:00.
The chart has 1 Y axis displaying [products.performance-value]. Data ranges from 25 to 25.42.
End of interactive chart.

Daily Fund Prices

As of 10/31/2025

Share Prices

As of 10/31/2025

NAV  1(Net Asset Value)
$25.28
NAV Change  1
$0.00
NAV Change (%)  1
0.00%
Market Price  1
$25.34
Market Price Change  1
$-0.01
Market Price Change (%)  1
-0.04%

52-Week Range

Highest NAV As of 10/28/2025
$25.36
Lowest NAV As of 08/26/2025
$25.00
Highest Market Price As of 09/15/2025
$25.42
Lowest Market Price As of 08/29/2025
$25.09

Premium / Discount

As of 10/31/2025

30-Day Median Bid/Ask Spread
0.20%
Bid / Ask Spread
$0.20
Avg. of Market Price vs. NAV since Inception
0.24%
Avg. of Market Price vs. NAV at Close 6
0.24%
Skipped to Documents Section Content

Documents

Fund Literature
 Name Download Add to Cart
Factsheet - Franklin Multisector Income ETFDownload Document
Regulatory Documents
 Name Download Add to Cart
Prospectus - Franklin Multisector Income ETF (MULT)Mailed hardcopies unavailable.Download Document
Summary Prospectus - Franklin Multisector Income ETF (MULT)Download Document
Statement of Additional Information - Franklin Multisector Income ETF (MULT)Mailed hardcopies unavailable.Download Document

Sign in to view documents

Risks

All investments involve risks, including possible loss of principal. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. 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. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Floating-rate loans and debt securities are typically rated below investment grade and are subject to greater risk of default, which could result in loss of principal. 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. The fund is newly organized, with a limited history of operations. When the fund’s size is small, the fund may experience low trading volume and wide bid/ask spreads. These and other risks are discussed in the fund's prospectus.

Sign in to view documents

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.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

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 Bloomberg US Aggregate Index is comprised of investment-grade, U.S. dollar-denominated government, corporate, and mortgage- and asset-backed issues having at least one year to maturity.
Source: Bloomberg Indices.

Footnotes

  1. Net Asset Value (NAV) returns are based on the NAV of the ETF/ETP. The fund’s NAV represents the per-share-value and is determined by dividing the total NAV of the fund by the number of shares outstanding; Market Price returns are based upon the official closing price of the ETF’s/ETP's shares. The fund calculates the NAV per share each business day and normally coincides with the close of trading on the exchange on which they are listed, typically 4 pm ET. The fund does not calculate the NAV on days the exchange is closed for trading. These returns do not represent investors’ returns had they traded shares at other times. 

  2. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  3. Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the closing market price or NAV as of the date indicated. The Distribution Rate calculation includes income and return of capital, and excludes special distributions. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance. 

  4. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.

  5. Net Expense Ratio represents the expense ratio applicable to investors. 

  6. Premiums or discounts are the differences between the NAV and the Market Price of the Fund on a given day, generally at the time the NAV is calculated. A premium is the amount that the Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the Fund is trading below the reported NAV, expressed as a percentage of the NAV. The since inception premium/discount average is calculated by averaging the daily premium/discount since the inception of the fund. The daily premium/discount is the difference between the daily market price for shares of the Fund and the Fund's net asset value. The Market Price is determined using the closing price as of 4 pm ET on each trading day (when NAV is normally determined for most funds).

  7. Premium / Discount reflects the difference between the NAV and the Market Price of the fund, and represents the amount that the fund is trading above or below its NAV, expressed as a percentage of the NAV. 

  8. Returns are average annualized total returns, except for those periods of less than one year, which are cumulative. Market Price returns are calculated using the closing price as of 4 pm ET on each trading day (when NAV is normally determined for most funds), and do not represent the returns you would receive if you traded shares at other times. Since shares of the fund did not trade in the secondary market until after the fund's inception, for the period from inception to the first day of secondary trading (8/28/25), the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Index returns are adjusted for withholding taxes. Performance for the ETF/ETP and its benchmark index are as of the ETF's/ETP's last trading day before the end of the period.

  9. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. 
    ©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

  10. Credit Quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security's rating as provided by S&P Global Ratings, Moody's Investors Service and/or Fitch Ratings, Inc. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, the manager assigns each security the middle rating from these three agencies. When only two agencies provide ratings, the lower of the two ratings will be assigned. When only one agency assigns a rating, that rating will be used. Foreign government bonds without a specific rating are assigned a country rating, if available. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the portfolio does not apply to the stability or safety of the portfolio. The methodology used for the calculation of credit quality ratings displayed may differ from the methodology for monitoring investment limits, if applicable. Please note, the portfolio itself has not been rated by an independent rating agency.