Equity Indexed

USPX Franklin U.S. Equity Index ETF

Cost-effective core allocation. Available for 3 basis points.
Passive index exposure. Tracks a market-cap weighted index comprised of large- and mid-sized companies.
Efficient. Low cost combined with the tax efficiency of an ETF.

Overview

See the risks and other important information.

Fund Facts

Fund description

The Fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Morningstar® US Target Market Exposure Index.

Benchmark⁴: Linked Morningstar US Target Market Exposure Index
Fund Inception Date: 06/01/2016
Listing Exchange: NYSE Arca
Dividend Frequency, if any: Quarterly

Expenses & Fees

As of 08/01/2025

Gross Expense Ratio⁵: 0.03%
Net Expense Ratio^5,6: 0.03%

Identifiers

Ticker: USPX
CUSIP Code: 35473P405
ISIN Code: US35473P4054
Bloomberg Code: USPX US

Average Annual Total Returns As of 02/28/2026

View performance section for additional info As of 02/28/2026

Market Price Return

NAV Return

15.33%1 Year
21.33%3 Years
12.33%5 Years
—10 Years
11.69%Since Inception
06/01/2016

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

View portfolio section for additional info

As of 04/01/2026 % of Total (Updated Daily)

Top Sectors
Information Technology32.78%
Financials12.59%
Communication Services10.62%
Consumer Discretionary9.88%
Health Care9.54%

Additional Fund Info

Morningstar Category⁷: Large Blend
Fiscal Year End: March 31
ETF Type: Indexed
Frequency of Index Reconstitution: Quarterly

Trading Characteristics

As of 04/01/2026 (Updated Daily)

Shares Outstanding: 28,900,000
Daily Volume: 36,588
20-Day Average Volume: 250583.95

Manager and Commentary

About the Team

Franklin ETF and Index Investments

At Franklin ETF and Index Investments, we believe that tracking global indices is a blend of art and science. Our Portfolio Managers collaborate for a rigorous assessment of the returns, risks, costs and tax implications of each transaction, all with the goal of delivering the highest tax-adjusted returns. Drawing on decades of deep expertise in global markets, our team is dedicated to providing world-class indexing solutions that offer cost-effective, competitive and consistent investment performance.

Franklin ETF and Index Investments

Managed Fund Since 2016

Managed Fund Since 2019

Managed Fund Since 2022

Performance

Calendar Year Returns

As of 02/28/2026

Month End

Quarter End

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 U.S. Equity Index ETF - Market Price Return (%)

Franklin U.S. Equity Index ETF - NAV Return (%)

Linked Morningstar US Target Market Exposure Index (%)

Overall Morningstar Rating: Overall Morningstar Rating: 3 out of 5 stars
As of 02/28/2026

3 Years: 3 Years: 4 out of 5 stars
1208 Funds in category

5 Years: 5 Years: 3 out of 5 stars
1120 Funds in category

10 Years: —

Rating Category: Large Blend

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

The number of funds in the category for the Overall Morningstar Rating are listed in the funds in category for the 3-year rating.

Morningstar Style Box

As of 02/28/2026

Current Historical
			Large
			Medium
			Small
Value	Blend	Growth
Style

Size

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©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.

Portfolio

Assets

As of04/01/2026 (Updated Daily)

Total Net Assets: $1.65 Billion

Positions

As of 04/01/2026 (Updated Daily)

Number of Holdings

Fund: 508

Portfolio Statistics

As of 04/01/2026 (Updated Daily)

Weighted Average Market Capitalization (USD)

Fund: $1,241.05 Billion

Price to Book

Fund: 5.17x

Price to Earnings (12-Month Trailing)

Fund: 26.60x

Sector Allocation

As of 04/01/2026 % of Total (Updated Daily)

Sector Allocation
Sector	% of Total
Information Technology	32.78%
Financials	12.59%
Communication Services	10.62%
Consumer Discretionary	9.88%
Health Care	9.54%
Industrials	9.22%
Consumer Staples	5.05%
Energy	3.87%
Utilities	2.48%
Materials	2.00%
Real Estate	1.85%
Cash & Cash Equivalents	0.12%

Holdings
As of 04/01/2026 (Updated Daily)

NVIDIA CORP

APPLE INC

MICROSOFT CORP

AMAZON.COM INC

ALPHABET INC-CL A

ALPHABET INC-CL C

BROADCOM INC

META PLATFORMS INC-CLASS

TESLA INC

BERKSHIRE HATHAWAY INC-CL

Distributions & Tax

Federal ID Number 81-1256615

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Year

Tax Information
Record Date	Ordinary Dividends Dividends paid by a fund that are derived from interest, dividends, net short-term capital gains and other types of ordinary income earned by the fund. For a fund that elects to pass through its foreign taxes paid (a non-cash item), a shareholder's allotted share of foreign taxes has been added to the “Ordinary Dividends” cash distributions received by the shareholder. If the fund passed through foreign taxes paid and later is refunded any portion of those taxes by a foreign tax authority, any interest paid to the fund on that refund is also required to be included in “Ordinary Dividends”.	Qualified Dividends The portion of a fund’s “Ordinary Dividends” that may be eligible for a reduced capital gain tax rate. To be eligible for the lower tax rates, certain holding periods apply and shareholders should consult their tax advisor to determine the amount eligible for the reduced rate. This amount represents both cash distributions and non-cash amounts, such as foreign taxes paid, that have been allocated to shareholders.	Capital Gain Distributions	Unrecaptured Section 1250 Gain	Non-Taxable Return Of Capital	Section 199a Dividends The portion of a fund’s “Ordinary Dividends” generated by a real estate investment trust or earned by a fund from its investments in real estate investment trusts, subject to limitations. Individual (non-corporate) shareholders may be entitled to a special deduction from gross income for “Section 199A Dividends” received from a fund. To qualify for this deduction certain holding periods apply and shareholders should consult their tax advisor.	Foreign Tax Paid	Exempt Interest Dividends	Interest on Tax Reclaim Refunds
Mar 21	0.114526	0.110838	—	—	—	—	—	—	—
Jun 20	0.147848	0.143087	—	—	—	—	—	—	—
Sep 19	0.16944	0.163984	—	—	—	—	—	—	—
Dec 19	0.20759	0.200906	—	—	—	—	—	—	—
	0.639404	0.618815	—	—	—	—	—	—	—

Mar 21

Jun 20

Sep 19

Dec 19

Supplemental Tax Information

Foreign Source Income: —
Foreign Source Qualified Dividends: —
Direct U.S. Government Obligations The portion of “Ordinary Dividends” attributable to earnings from US Treasury and certain other government securities may be categorized as a fund containing US government obligations. This income may be exempt from state personal income taxes. The percentage for direct US government obligation interests available for tax-exempt treatment may be limited in states that require the fund to meet certain minimum thresholds. Shareholders should consult their tax advisor to determine the availability of exemptions in their state.: —
Specified Private Activity Bond Interest: —
Dividends Received Deduction: 93.13%
Section 163(j): —
Indiana Resident Taxable Income: —
Utah Resident Taxable Income The portion of “Exempt-Interest Dividends” subject to Utah income tax. Subject to certain exceptions, the state of Utah provides that income earned from non-federal government entities outside of Utah (non-Utah municipal bonds) is taxable to Utah resident shareholders. Income earned from states that do not tax Utah obligations are also exempt. Shareholders should consult their tax advisor about applicability.: —

Franklin Templeton and 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. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Pricing

Pricing History

As of 04/01/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 04/01/2026

Share Prices

As of 04/01/2026

NAV ¹(Net Asset Value): $57.23
NAV Change ¹: $0.40
NAV Change (%) ¹: 0.70%
Market Price ¹: $57.26
Market Price Change ¹: $0.39
Market Price Change (%) ¹: 0.69%

52-Week Range

Highest NAV As of 01/27/2026: $60.93
Lowest NAV As of 04/08/2025: $43.47
Highest Market Price As of 01/27/2026: $60.96
Lowest Market Price As of 04/08/2025: $43.36

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Franklin U.S. Equity Index ETF	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Franklin U.S. Equity Index ETF - Single Class	Download Document
Checkbox	Annual Financial Statements and Other Information - Franklin U.S. Equity Index ETF	Download Document
Checkbox	Semi-Annual Report - Franklin U.S. Equity Index ETF - Single Class	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Franklin U.S. Equity Index ETF	Download Document
Checkbox	Prospectus - Franklin U.S. Equity Index ETF	Download Document
Checkbox	Summary Prospectus - Franklin U.S. Equity Index ETF	Download Document
Checkbox	Statement of Additional Information - Franklin U.S. Equity Index ETFMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q1 Holdings - Franklin Templeton ETF Trust Smart Beta FundsMailed hardcopies unavailable.	Download Document
Checkbox	Q3 Portfolio Holdings - Franklin U.S. Equity Index ETFMailed hardcopies unavailable.	Download Document

View Proxy Voting Records and Proxy Voting Policies

Risks

All investments involve risks, including possible loss of principal. Equity securities are subject to price fluctuation and possible loss of principal. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Performance of the fund may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. There can be no assurance that the underlying index's calculation methodology or sources of information will provide an accurate assessment of included issuers or that the included issuers will provide the fund with the market exposure it seeks. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. In seeking to track its underlying index, the fund may become non‑diversified as a result of a change in relative market capitalization or index weighting of one or more constituents of the underlying index. These and other risks are discussed in the fund’s prospectus.

Important Information

Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

The Linked Morningstar US Target Market Exposure Index measures the performance of large- and mid-cap U.S. stocks.
The Linked Morningstar US Target Market Exposure Index reflects the performance of LibertyQ Global Equity Index-NR from fund inception through 7/31/2022 and Morningstar US Target Market Exposure Index thereafter.
The Franklin U.S. Equity Index ETF is not sponsored, endorsed, sold or promoted by Morningstar, Inc. or any of its affiliates.

Footnotes

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.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
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.
On August 1, 2022, the Fund's benchmark was changed from the LibertyQ Global Equity Index-NR to the Morningstar® Linked Morningstar US Target Market Exposure Index. Fund performance prior to that date reflects the Fund seeking to track the performance of the LibertyQ Global Equity Index-NR.
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.
Net Expense Ratio represents the expense ratio applicable to investors.
©2026 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.
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 (6/3/16), the NAV of the Fund is used as a proxy for the Market Price to calculate market returns. 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.
Capitalization Rate is calculated without the deduction of fees and expenses.

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USPX Franklin U.S. Equity Index ETF

Popular Documents

Overview

Fund description

Expenses & Fees

Identifiers

Top Sectors

Additional Fund Info

Trading Characteristics

Manager and Commentary

About the Team

Performance

Calendar Year Returns

Ratings 3

Portfolio

Sector Allocation

Distributions & Tax

Federal ID Number 81-1256615

Pricing

Chart

Daily Fund Prices

Documents

Risks

Important Information

Footnotes

Ratings ³