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Managed Fund Since 2019
Equity Active
YLDE Franklin ClearBridge Enhanced Income ETF
- Targets compelling dividends. Underlying equity portfolio seeks companies with the potential to pay a rising stream of dividends.
- Options overlay strategy. Pursues additional premium income by writing (selling) US exchange-traded call options based upon US large-cap indexes.
- Investment expertise. 30-year track record of options expertise coupled with a 20+ year track record on the underlying equity in the form of ClearBridge Dividend Strategy.
Popular Documents
Fund changes
The following changes went into effect February 28, 2025: name change from ClearBridge Dividend Strategy ESG ETF to Franklin ClearBridge Enhanced Income ETF; investment objective change to seek to provide income and long-term capital appreciation; dividend policy change to monthly; investment policy change to under normal market conditions, the fund will invest at least 80% of its net assets—plus borrowings for investment purposes, if any—in income-generating securities and investments, including dividend-paying equity securities and selling call options to generate income from premiums received, as well as other instruments with similar economic characteristics. Furthermore, Franklin Managed Options Strategies, LLC (“Franklin MOST”) will be appointed as an additional subadviser to the fund. If you have any questions, please contact your financial professional.
Overview
Fund Facts
Fund description
The fund seeks to pursue an enhanced equity income strategy by (1) investing primarily in dividend-paying equity securities and (2) “enhancing” income through the employment of an options overlay by writing (selling) U.S. exchange-traded call options based upon U.S. large capitalization equity indices (such as the S&P 500® Index).
- Benchmark
- S&P 500 Index
- Additional Benchmark
- CBOE S&P 500 BuyWrite Index
- Dividend Frequency, if any
- Monthly
- Fund Inception Date
- 05/22/2017
- Listing Exchange
- NASDAQ - XNMS
- Distribution Rate at NAV
6 As of 11/14/2025 (Updated Daily) - 6.32%
Identifiers
- Ticker
- YLDE
- Benchmark Ticker
- SPTR500N
- IOPV / IIV Ticker
9 - YLDE.IV
- CUSIP Code
- 524682309
Average Annual Total Returns As of 10/31/2025
Fund
- 10.13%1 Year
- 14.92%3 Years
- 13.34%5 Years
- —10 Years
- 11.57%Since Inception
05/22/2017
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 10/31/2025 Equity as a % of Total (Updated Monthly)
Additional Fund Info
- Fiscal Year End
- March 31
- Morningstar Category
- Derivative Income
- Trustee
- The Bank of New York Mellon
- Lipper Classification
- Options Arbitrage/Opt Strategies Funds
Trading Characteristics
- Creation/Redemption Fee (estimated)
- $250
- Creation Unit Size (Number of Shares)
- 50,000
- Shares Outstanding
- 2,000,000
- Daily Volume
- 5,551
- 20-Day Average Volume
- 22282.15
Manager and Commentary
About the Team
ClearBridge Investments
ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.
Commentary Highlights
September 30, 2025- Markets: The third quarter continued the post-Liberation Day rebound for U.S. equity markets, with animal spirits driving the S&P 500 Index to record highs. Investor optimism was fueled by better-than-feared tariff outcomes, the passing of the One Big Beautiful Bill Act in July, anticipated interest rate cuts — the Federal Reserve delivered with a 25 bps cut in September and signaled further easing — and robust corporate earnings.
- Contributors: Stock selection in the industrials, IT, health care and utilities sectors proved beneficial. The options overlay also made positive contributions.
- Detractors: An underweight to IT and an overweight to consumer staples detracted. Stock selection in the communication services and real estate sectors also detracted.
- Outlook: With investors continuing to be complacent in the face of historically high valuations, we continue to emphasize investments with more modest valuations. The gap between the valuation of our portfolio and the market remains as wide as it has ever been. We believe this positions us both for better potential appreciation and lower downside risk.
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Managed Fund Since 2017
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Managed Fund Since 2025
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Managed Fund Since 2025
Latest ClearBridge Insights
November 3, 2025
October 20, 2025
October 10, 2025
September 18, 2025
Performance
Average Annual Total Returns
As of 10/31/2025
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 October 2025
Franklin ClearBridge Enhanced Income ETF - Market Price Return (%)
Month End
As of 10/31/2025
Franklin ClearBridge Enhanced Income ETF - NAV Return (%)
Month End
As of 10/31/2025
S&P 500 Index (%)
Month End
As of 10/31/2025
CBOE S&P 500 BuyWrite Index (%)
Month End
As of 10/31/2025
Portfolio
Assets
As of11/14/2025 (Updated Daily)
- Total Net Assets
- $106.90 Million
Positions
As of 10/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 54
- Benchmark
- 503
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Price to Earnings (12-Month Forward)
- Fund
- 19.07x
- Benchmark
- 25.25x
- Fund
- 6.17x
- Benchmark
- 8.11x
- Fund
- 22.12x
- Benchmark
- 28.93x
- Fund
- $559.99 Billion
- Benchmark
- $1,442.44 Billion
- Fund
- $146.77 Billion
- Benchmark
- $415.43 Billion
Market Capitalization Allocation
As of 10/31/2025 % of Equity (Updated Monthly)
| Market Capitalization | Fund |
|---|---|
| 10-50 Billion | 10.81% |
| 50-250 Billion | 55.47% |
| 250-500 Billion | 12.36% |
| >500 Billion | 21.36% |
Holdings
As of 11/13/2025 (Updated Daily)
MICROSOFT CORP
EXXON MOBIL CORP
BROADCOM INC
WILLIAMS COS INC
NESTLE SA-SPONS ADR
ALPHABET INC-CL A
BECTON DICKINSON AND CO
SEMPRA
TEXAS INSTRUMENTS INC
JPMORGAN CHASE & CO
Portfolio holdings are based on total portfolio, and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security. Any negative allocations or allocations in excess of 100% are primarily due to unsettled trade activities.
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) 6.32%
At Market Price 6.33%
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
11/03/2025
10/01/2025
09/02/2025
08/01/2025
07/01/2025
06/02/2025
05/01/2025
04/01/2025
03/03/2025
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
Pricing History
As of 11/14/2025 (Updated Daily)
Daily Fund Prices
As of 11/14/2025
Share Prices
As of 11/14/2025
52-Week Range
- Highest NAV
- $54.59
- Lowest NAV
- $46.86
- Highest Market Price
- $54.69
- Lowest Market Price
- $46.94
Premium / Discount
As of 11/14/2025
- 30-Day Median Bid/Ask Spread
- 0.23%
- Bid / Ask Spread
- $0.21
- Avg. of Market Price vs. NAV at Close
10 - -0.04%
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin ClearBridge Enhanced Income ETF | |||
| Product Commentary - Franklin ClearBridge Enhanced Income ETF |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin ClearBridge Enhanced Income ETF | |||
| Annual Financial Statements and Other Information - ClearBridge ETF Funds | |||
| Semi-Annual Report - ClearBridge Dividend Strategy ESG ETF - Single Class | |||
| Semi-Annual Financial Statements and Other Information - ClearBridge Dividend Strategy ESG ETF | |||
| Prospectus - Franklin ClearBridge Enhanced Income ETF (previously known as ClearBridge Dividend Strategy ESG ETF) | |||
| Summary Prospectus - Franklin ClearBridge Enhanced Income ETF (previously known as ClearBridge Dividend Strategy ESG ETF) | |||
| Statement of Additional Information - Clearbridge ETFs | |||
| Fiscal Q1 Holdings - Clearbridge ETFs | |||
| Fiscal Q3 Holdings - Clearbridge ETFs | |||
| Distribution Reclassifications (2018) | |||
| Qualified Dividend Income Percentage for Individual Shareholders (2017) | |||
| Qualified Dividend Income Percentage for Individual Shareholders (2018) |
Risks
All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. Options (call writing) may limit the opportunity to participate fully from an increase in the market value of stocks and premiums received from option writing may not protect against market declines. Dividends may fluctuate and are not guaranteed, and a company may reduce or eliminate its dividend at any time. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. When the fund’s size is small, the fund may experience low trading volume and wide bid/ask spreads. 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 Cboe S&P 500 BuyWrite Index measures the total return of a covered call strategy applied to the S&P 500 Index. This strategy consists of a long position indexed to the S&P 500 Index, which is deemed sold with a succession of one month, at-the-money call options on the S&P 500 Index.
Source: Cboe Global Indices, LLC.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.
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.
Authorized participants ("APs") may acquire shares in the primary market directly from the ETFs and may tender their shares for redemption directly to the ETFs, at net asset value per share only in Creation Units or Creation Unit Aggregations. Once created, shares of the funds generally trade in the secondary market in amounts less than a Creation Unit.
Exchange Traded Funds (ETFs) — A type of investment company which is bought and sold on a securities exchange. ETFs generally represent a portfolio of securities, derivative instruments, currencies or commodities. The risks of owning an ETF generally reflect the risks of owning the underlying securities or commodities the ETF is designed to track. ETFs also have management fees and operating expenses that increase their costs.
Franklin Resources, Inc., its specialized investment managers, 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.