Managed Fund Since 2023
FLCO Franklin Investment Grade Corporate ETF
- Differentiated portfolio construction approach. Strategic allocation to risk across ratings, sectors and maturity curves to take advantage of inefficient credit benchmark.
- Focus on risk management. Strategy implements risk-controlled approach with total portfolio beta managed to be in line with that of the benchmark and risk management incorporated in each stage of the investment process.
- Expertise. Team of seasoned portfolio managers supported by deep resources, leveraging a large and experienced global credit research analyst team.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks to provide a high level of current income as is consistent with prudent investing, while seeking preservation of capital, by investing at least 80% of its net assets in investment grade corporate debt securities and investments. The fund may invest up to 40% of its net assets in foreign securities, including those in developing markets, and up to 15% of its net assets in non-U.S. dollar denominated securities.
- Benchmark
- Bloomberg US Corporate - Investment Grade Index
- Fund Inception Date
- 10/03/2016
- Listing Exchange
- NYSE Arca
- Dividend Frequency, if any
- Monthly
- Distribution Rate at NAV
3 As of 08/07/2026 (Updated Daily) - 5.47%
Identifiers
- Ticker
- FLCO
- CUSIP Code
- 35473P603
- ISIN Code
- US35473P6034
- Bloomberg Code
- FLCO US
Average Annual Total Returns As of 06/30/2026
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.
- 3.98%1 Year
- 4.98%3 Years
- -0.01%5 Years
- —10 Years
- 2.21%Since Inception
10/03/2016
Top Sectors
As of 08/06/2026 % of Total (Updated Daily)
Finance38.88% | |
Health Care11.83% | |
Utility7.70% | |
Technology6.16% | |
Energy5.64% |
Additional Fund Info
- Fiscal Year End
- March 31
- ETF Type
- Active
- Morningstar Category
9 - Corporate Bond
Trading Characteristics
As of 08/07/2026 (Updated Daily)- Shares Outstanding
- 26,550,000
- Daily Volume
- 25,876
- 20-Day Average Volume
- 88552.95
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.
Commentary Highlights
June 30, 2026- Markets : In the second quarter of 2026, new issuance of municipal (muni) bonds continued at a pace of more than 8% ahead of last year. By quarter-end, the yield on the benchmark 10-year (UST) had risen by 15 basis points (bps) to 4.47%, and the yield on the 30-year UST bond stood four bps higher at 4.95%. The June Federal Open Market Committee (FOMC) meeting was the first held under new Federal Reserve Chair Kevin Warsh. The FOMC left the policy rate unchanged at 3.50%-3.75%, but the meeting delivered a notable split: the dot plot and Summary of Economic Projections turned more hawkish and the statement removed the prior easing guidance, while Chair Warsh's press conference leaned dovish.
- Contributors : Sector allocation and yield curve positioning contributed to relative performance.
- Detractors : Security selection detracted from relative performance.
- Outlook : Municipal bond valuations continue to appear attractive relative to other fixed income sectors, particularly for tax-sensitive investors seeking durable income in a normalized rate environment. In a more challenging environment, strong bottom-up research and disciplined security selection will be essential to identifying relative value and preserving portfolio quality.
Managed Fund Since 2024
Managed Fund Since 2024
Managed Fund Since 2016
Latest Insights
August 6, 2026
July 30, 2026
July 17, 2026
Performance
Average Annual Total Returns
As of 06/30/2026
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.
- 1 Year
- 3.98
- 3 Years
- 4.98
- 5 Years
- -0.01
- Since Inception(10/03/2016)
- 2.21
- 1 Year
- 4.12
- 3 Years
- 5.06
- 5 Years
- 0.00
- Since Inception(10/03/2016)
- 2.22
- 1 Year
- 4.34
- 3 Years
- 5.29
- 5 Years
- 0.34
- Since Inception(10/03/2016)
- 2.52
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Portfolio
Assets
As of08/09/2026 (Updated Daily)
- Total Net Assets
- $558.40 Million
Positions
As of 08/06/2026 (Updated Daily)
- Fund
- 226
Portfolio Statistics
As of 08/06/2026 (Updated Daily)
- Fund
- 6.68 Years
- Benchmark
- 6.62 Years
- Fund
- 80BPS
- Benchmark
- 76BPS
- Fund
- 10.34 Years
- Benchmark
- 10.25 Years
Geographic Allocation
As of 08/06/2026 % of Total (Updated Daily)
| Geography | Fund | Benchmark |
|---|---|---|
North America | 84.97% | 89.49% |
| United States | 83.77% | 86.43% |
| Canada | 1.20% | 3.06% |
Europe | 10.98% | 6.65% |
| United Kingdom | 3.60% | 3.79% |
| Switzerland | 1.62% | 0.18% |
| Germany | 1.23% | 0.38% |
| France | 0.98% | 0.29% |
| Ireland | 0.67% | 0.37% |
| Italy | 0.62% | 0.01% |
| Spain | 0.62% | 0.58% |
| Portugal | 0.56% | — |
| Belgium | 0.47% | 0.50% |
| Denmark | 0.37% | — |
| Norway | 0.24% | — |
Asia | 1.84% | 2.33% |
| Japan | 1.84% | 1.97% |
Australia/New Zealand | 1.77% | 0.91% |
| Australia | 1.77% | 0.91% |
Middle East/Africa | 0.41% | — |
| Israel | 0.41% | — |
Cash & Cash Equivalents | 0.03% | — |
| Cash & Cash Equivalents | 0.03% | — |
Holdings
As of 08/07/2026 (Updated Daily)
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
Federal ID Number 81-2321557
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Supplemental Tax Information
- Foreign Source Income
- —
- Foreign Source Qualified Dividends
- —
- Direct U.S. Government Obligations
- 1.68%
- Specified Private Activity Bond Interest
- —
- Dividends Received Deduction
- —
- Section 163(j)
- 100.00%
- Indiana Resident Taxable Income
- —
- Utah Resident Taxable Income
- —
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 08/07/2026 (Updated Daily)
Daily Fund Prices
As of 08/07/2026
Share Prices
As of 08/07/2026
52-Week Range
- Highest NAV
As of 10/28/2025 - $22.10
- Lowest NAV
As of 08/03/2026 - $20.95
- Highest Market Price
As of 10/27/2025 - $22.09
- Lowest Market Price
As of 08/03/2026 - $20.95
Premium / Discount
As of 08/07/2026
- 30-Day Median Bid/Ask Spread
- 0.05%
- Bid / Ask Spread
- $0.01
- Avg. of Market Price vs. NAV since Inception
- 0.03%
- Avg. of Market Price vs. NAV at Close
11 - -0.05%
Documents
Fund Literature
Regulatory 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. Distributions are not guaranteed and are subject to change. 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. 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. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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.
Bloomberg U.S. Corporate Investment Grade Index measures the investment-grade, fixed-rate, taxable corporate bond market. It includes U.S. dollar-denominated securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers.
Source: Bloomberg Indices.