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Managed Fund Since 2025
Equity Active
FSML Franklin Small Cap Enhanced ETF
- Conviction-Driven - Harnesses deep fundamental expertise from Franklin Templeton Investment Solutions (FTIS), Putnam, Royce, Franklin, and ClearBridge to uncover high-conviction small-cap opportunities.
- Factor-Diversified - Employs a disciplined, multi-factor approach to drive consistency and support long-term growth by minimizing dependence on any single market driver.
- Team-Powered Innovation - Fueled by ongoing research, collaboration, and model refinement from a seasoned, investment team.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks long-term capital appreciation by investing in a portfolio of small cap equity securities selected from the fund's investible universe (as represented by the Russell 2000® Index). The fund pursues a multi-factor, quantitative investment approach that leverages the active convictions of the Specialist Investment Managers at Franklin Templeton including Putnam, Royce, Franklin and Clearbridge.
- Benchmark
- Russell 2000 Index
- Fund Inception Date
- 12/09/2025
- Listing Exchange
- NYSE Arca
- Dividend Frequency, if any
- Quarterly
- Distribution Rate at NAV
3 As of 02/09/2026 (Updated Daily) - 0.24%
Identifiers
- Ticker
- FSML
- CUSIP Code
- 35473P322
- ISIN Code
- US35473P3221
- Bloomberg Code
- FSML US
Average Annual Total Returns As of 01/31/2026
- —1 Year
- —3 Years
- —5 Years
- —10 Years
- 3.91%Since Inception
12/09/2025
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
- Small Blend
Trading Characteristics
- Shares Outstanding
- 3,800,000
- Daily Volume
- 787
- 20-Day Average Volume
- 136728.20
Manager and Commentary
About the Team
Franklin Templeton Investment Solutions
Franklin Templeton Investment Solutions (FTIS) is a leader in multi-asset, quantitative, and hedged solutions, leveraging a global network of investment teams to offer innovative and diversified strategies. With a focus on long-term investing, we combine deep research, active management, and data-driven insights to create solutions which seek to meet the evolving needs of investors worldwide.
Franklin Templeton Investment Solutions
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Managed Fund Since 2025
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Managed Fund Since 2025
Latest Insights
February 6, 2026
January 23, 2026
January 21, 2026
October 13, 2025
Performance
Average Annual Total Returns
As of 01/31/2026
Selected Month January 2026
Franklin Small Cap Enhanced ETF - Market Price Return (%)
Month End
As of 01/31/2026
Franklin Small Cap Enhanced ETF - NAV Return (%)
Month End
As of 01/31/2026
Russell 2000 Index (%)
Month End
As of 01/31/2026
Portfolio
Assets
As of02/10/2026 (Updated Daily)
- Total Net Assets
- $101.76 Million
Portfolio Statistics
As of 02/09/2026 (Updated Daily)
Weighted Average Market Capitalization (USD)
- Fund
- $5.08 Billion
- Benchmark
- $5.27 Billion
- Fund
- 2.39x
- Benchmark
- 2.40x
- Fund
- 15.92x
- Benchmark
- 17.51x
Asset Allocation
As of 01/31/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 99.62% |
Cash & Cash Equivalents | 0.38% |
Holdings
As of 02/09/2026 (Updated Daily)
BLOOM ENERGY CORP- A
VALARIS LTD
COMMERCIAL METALS CO
PRIMORIS SERVICES CORP
VALLEY NATIONAL BANCORP
GUARDANT HEALTH INC
KRATOS DEFENSE & SECURITY
KULICKE & SOFFA INDUSTRIE
BRIDGEBIO PHARMA INC
JACKSON FINANCIAL INC-A
Distributions & Tax
- Distribution Frequency
- QuarterlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 0.24%
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
12/31/2025
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
Pricing History
As of 02/10/2026 (Updated Daily)
Daily Fund Prices
As of 02/10/2026
Share Prices
As of 02/10/2026
52-Week Range
- Highest NAV
As of 02/09/2026 - $26.85
- Lowest NAV
As of 12/31/2025 - $24.64
- Highest Market Price
As of 02/09/2026 - $26.84
- Lowest Market Price
As of 12/31/2025 - $24.65
Premium / Discount
As of 02/10/2026
- 30-Day Median Bid/Ask Spread
- 0.38%
- Bid / Ask Spread
- $0.08
- Avg. of Market Price vs. NAV since Inception
- -0.02%
- Avg. of Market Price vs. NAV at Close
6 - -0.04%
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Small Cap Enhanced ETF |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Prospectus - Franklin Small Cap Enhanced ETF | |||
| Summary Prospectus - Franklin Small Cap Enhanced ETF | |||
| Statement of Aditional Information - Franklin Small Cap Enhanced ETF |
Risks
All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. There can be no assurance that the fund's multi-factor stock selection process will enhance performance. Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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 fund is newly organized, with a limited history of operations. 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.
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe.
Source: FTSE.