Fixed Income Active

FLMB Franklin Municipal Green Bond ETF

Green bonds. Provides exposure to municipal securities that intend to use bond proceeds for projects and programs that promote environmental sustainability.
Proprietary approach. The team evaluates all labeled and unlabeled green bonds, ensuring they meet stringent environmental sustainability criteria and robust disclosure standards.
Muni expertise. Franklin Templeton is one of the largest muni bond managers in the nation. The team’s experience navigating through multiple market cycles helps them uncover opportunities and identify risks.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks to maximize income that is exempt from regular federal taxes consistent with prudent investing and the preservation of shareholders' capital by investing predominantly in municipal green bonds that promote environmental sustainability and pay interest that is exempt from federal income taxes, including the federal alternative minimum tax.

Benchmark: Bloomberg Municipal Bond Index
Fund Inception Date: 08/31/2017
Listing Exchange: NYSE Arca
Dividend Frequency, if any: Monthly
Distribution Rate at NAV⁴As of 03/31/2026 (Updated Daily): 2.64%
30-Day SEC Yield—With Waiver^5,6,7As of 02/28/2026 (Updated Monthly): 3.54%
30-Day SEC Yield—Without Waiver^6,7As of 02/28/2026 (Updated Monthly): 3.54%
Taxable Equivalent Yield—With WaiverAs of 02/28/2026 (Updated Monthly): 5.98%
Taxable Equivalent Yield—Without WaiverAs of 02/28/2026 (Updated Monthly): 5.98%

Expenses & Fees

As of 08/01/2025

Gross Expense Ratio⁸: 0.30%
Net Expense Ratio^8,9: 0.30%

Identifiers

Ticker: FLMB
CUSIP Code: 35473P850
ISIN Code: US35473P8501
Bloomberg Code: FLMB 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

4.93%1 Year
5.14%3 Years
1.24%5 Years
—10 Years
2.48%Since Inception
08/31/2017

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.

Credit Quality Allocation

View portfolio section for additional info

As of 02/28/2026 % of Total (Updated Monthly)

Credit Quality Allocation
AAA5.97%
AA39.32%
A26.79%
BBB14.02%
BB1.68%
Not Rated7.91%
Cash & Cash Equivalents4.32%

Additional Fund Info

Fiscal Year End: March 31
ETF Type: Active
Morningstar Category¹⁰: Muni National Long

Trading Characteristics

As of 03/31/2026 (Updated Daily)

Shares Outstanding: 3,650,000
Daily Volume: 5,707
20-Day Average Volume: 24913.55

Manager and Commentary

About the Team

Franklin Templeton Fixed Income

A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income

Managed Fund Since 2020

Managed Fund Since 2017

Latest Insights

March 23, 2026

Macro Views: AI tailwinds, geopolitical headwinds

March 18, 2026

Middle East escalation: Market impact and emerging market implications

March 12, 2026

On My Mind: Not partying like it’s 1979

March 9, 2026

Municipal bond market monthly brief

Performance

Average Annual Total Returns

¹²

As of 02/28/2026

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.

Month End

Quarter End

As of

Franklin Municipal Green Bond ETF - Market Price Return (%)

Month End

As of 02/28/2026

Franklin Municipal Green Bond ETF - NAV Return (%)

Month End

As of 02/28/2026

Bloomberg Municipal Bond Index (%)

Month End

As of 02/28/2026

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
152 Funds in category

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

10 Years: —

Rating Category: Muni National Long

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.

Morningstar Style Box

As of 02/28/2026

Current Historical
			High
			Medium
			Low
LTD	MOD	EXT
Duration

Quality

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 of03/31/2026 (Updated Daily)

Total Net Assets: $86.32 Million

Positions

As of 02/28/2026 (Updated Monthly)

Number of Holdings

Fund: 100

Portfolio Statistics

As of 02/28/2026 (Updated Monthly)

Average Weighted Maturity

Fund: 16.72 Years

Effective Duration

Fund: 7.50 Years

Sector Allocation

As of 02/28/2026 % of Total (Updated Monthly)

Sector Allocation
Sector	% of Total
Lease	16.06%
Transportation	15.92%
Industrial Dev. Revenue and Pollution Control	15.03%
Utilities	14.35%
Housing	10.47%
Special Tax	9.58%
Health Care	5.03%
Education	3.76%
Local	3.55%
Other Revenue Bonds	1.93%
Cash & Cash Equivalents	4.32%

Holdings
As of 03/31/2026 (Updated Daily)

CALIF CMNTY FIN- FRN 2/54

CALIFORNIA ST MUNI 4 5/39

CA CMNTY CHOICE FRN 1/54

SAN DIEGO CNTY CA- 5 7/51

INTERMOUNTAIN PWR 5 7/44

IL FIN AUTH 5.25 10/53

CNTRL VLY WTR REC- 4 3/47

ATLANTA-SER E-A 5.25 7/43

PORTLAND PORT 5.5 7/53

VT EDU HLTH BLDG 5 12/38

Portfolio holdings are based on the 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.

Distributions & Tax

Federal ID Number 82-2066659

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
Feb 03	0.000816	—	—	—	—	—	—	0.067193	—
Apr 01	0.000761	—	—	—	—	—	—	0.080233	—
May 01	0.000658	—	—	—	—	—	—	0.069301	—
Jun 02	0.000725	—	—	—	—	—	—	0.076373	—
Jul 01	0.000665	—	—	—	—	—	—	0.07012	—
Aug 01	0.00083	—	—	—	—	—	—	0.087486	—
Sep 02	0.000717	—	—	—	—	—	—	0.075532	—
Oct 01	0.000704	—	—	—	—	—	—	0.074206	—
Nov 03	0.00085	—	—	—	—	—	—	0.08961	—
Dec 01	0.000686	—	—	—	—	—	—	0.072304	—
Dec 19	0.000702	—	—	—	—	—	—	0.073968	—
	0.009005	—	—	—	—	—	—	0.90966	—

Feb 03

Apr 01

May 01

Jun 02

Jul 01

Aug 01

Sep 02

Oct 01

Nov 03

Dec 01

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: 18.74%
Dividends Received Deduction: —
Section 163(j): 100.00%
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.: —

Tax-Exempt Income By Jurisdiction

Alabama: 0.29%

Arizona: 0.49%

Arkansas: 0.80%

California: 31.21%

Colorado: 0.93%

Dist. of Columbia: 4.54%

Florida: 1.55%

Georgia: 2.42%

Illinois: 4.97%

Kentucky: 0.03%

Louisiana: 3.17%

Maine: 0.23%

Maryland: 3.85%

Massachusetts: 3.19%

Michigan: 0.02%

Minnesota: 1.94%

Mississippi: 0.34%

Missouri: 0.07%

New Jersey: 3.71%

New Mexico: 0.09%

New York: 6.31%

North Carolina: 0.01%

Ohio: 4.35%

Oregon: 3.72%

Pennsylvania: 2.60%

Puerto Rico: 0.64%

Rhode Island: 0.11%

Texas: 1.12%

Utah: 6.42%

Vermont: 3.53%

Virginia: 0.32%

Washington: 1.98%

Wisconsin: 5.05%

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 03/31/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 03/31/2026

Share Prices

As of 03/31/2026

NAV ¹(Net Asset Value): $23.65
NAV Change ¹: $0.09
NAV Change (%) ¹: 0.38%
Market Price ¹: $23.62
Market Price Change ¹: $0.07
Market Price Change (%) ¹: 0.30%

52-Week Range

Highest NAV As of 02/27/2026: $24.27
Lowest NAV As of 04/09/2025: $22.43
Highest Market Price As of 02/27/2026: $24.29
Lowest Market Price As of 04/11/2025: $22.56

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Franklin Municipal Green Bond ETF	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Franklin Municipal Green Bond ETF - Single Class	Download Document
Checkbox	Annual Financial Statements and Other Information - Franklin Templeton ETF Trust 2	Download Document
Checkbox	Semi-Annual Report - Franklin Municipal Green Bond ETF - Single Class	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Franklin Income Equity Focus ETF	Download Document
Checkbox	Prospectus - Franklin Templeton ETF Trust 2 Active Funds	Download Document
Checkbox	Summary Prospectus - Franklin Municipal Green Bond ETF Fund	Download Document
Checkbox	Statement of Additional Information - Franklin Templeton ETF Trust 2 Active FundsMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q1 Holdings - Franklin Templeton ETF Trust Smart Beta FundsMailed hardcopies unavailable.	Download Document
Checkbox	Q3 Portfolio Holdings - Franklin Templeton ETF TrustMailed hardcopies unavailable.	Download Document

View Proxy Voting Records and Proxy Voting Policies

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. 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. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Green bonds may not result in direct environmental benefits, and the issuer may not use proceeds as intended or to appropriate new or additional projects. The managers’ environmental, social and governance (ESG) strategies may limit the types and number of investments available and, as a result, may forgo favorable market opportunities or underperform strategies that are not subject to such criteria. There is no guarantee that the strategy's ESG directives will be successful or will result in better performance. An investor may be subject to the federal Alternative Minimum Tax, and state and local taxes may apply. 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 Bloomberg Municipal Bond Index is a broad measure of the municipal bond market with maturities of at least one year.
Source: Bloomberg Indices.

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.
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 excludes special distributions. The Distribution Rate is subject to change and is not guaranteed nor a quotation of fund performance.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.
30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.
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.
The Taxable Equivalent Yield assumes the maximum regular federal income tax rate and the Medicare tax. Dividends are general subject to state and local taxes, if any. For investors subject to the alternative minimum tax, a small portion of fund dividends may be taxable. Distributions of capital gains may be taxable.
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 09/05/17, 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.
Ratings shown are assigned by one or more Nationally Recognized Statistical Rating Organizations (NRSRO), such as S&P Global Ratings, Moody's Investors Service and Fitch Ratings, Inc. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO's opinion of an issuer's creditworthiness and typically range from AAA (highest) to D (lowest). The Refunded category consists of refunded bonds secured by the US government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. The Not Applicable category consists of third-party exchange-traded funds and securities that have only a short-term rating and are not cash equivalents. Cash includes equivalents, which may be rated. 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.

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FLMB Franklin Municipal Green Bond ETF

Popular Documents

Overview

Fund description

Expenses & Fees

Identifiers

Credit Quality Allocation

Additional Fund Info

Trading Characteristics

Manager and Commentary

About the Team

Latest Insights

Performance

Average Annual Total Returns

Ratings 3

Portfolio

Sector Allocation

Distributions & Tax

Federal ID Number 82-2066659

Pricing

Chart

Daily Fund Prices

Documents

Risks

Important Information

Footnotes

Ratings ³