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Managed Fund Since 2023
Fixed Income Active
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 11/13/2025 (Updated Daily) - 5.38%
Identifiers
- Ticker
- FLCO
- CUSIP Code
- 35473P603
- ISIN Code
- US35473P6034
- Bloomberg Code
- FLCO US
Average Annual Total Returns As of 10/31/2025
- 6.47%1 Year
- 7.25%3 Years
- 0.01%5 Years
- —10 Years
- 2.23%Since Inception
10/03/2016
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.
As of 11/13/2025 % of Total (Updated Daily)
Additional Fund Info
- Fiscal Year End
- March 31
- ETF Type
- Active
- Morningstar Category
- Corporate Bond
Trading Characteristics
- Shares Outstanding
- 25,750,000
- Daily Volume
- 37,592
- 20-Day Average Volume
- 117902.20
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
Franklin Templeton Fixed Income is a fixed income specialist with a measured "no surprises" approach that is committed to the goal of delivering clients consistent, predictable fixed income results. We pursue dimensional sources of potential alpha across all global fixed income securities, sectors, and markets.
Commentary Highlights
September 30, 2025- Markets: US investment-grade (IG) corporate credit market returns were driven by tighter credit spreads as well as lower US Treasury (UST) yields. Risk assets generally performed well in Q3, supporting sentiment in credit despite spreads testing new multidecade tights. IG corporates also benefited from a pull-forward demand ahead of the US Federal Reserve (Fed) lowering rates in late Q3. While uncertainty from tariffs and inflation persists and unemployment concerns have increased, positive sentiment in broader risk assets and the pull-forward demand in IG were enough to bring credit spreads to very tight levels. The benchmark 10-year US Treasury (UST) yield rose eight basis points (bps) to 4.15% and spreads on the Bloomberg US Agg Corporate Bond Index declined five bps to 74.
- Contributors: Security selection in capital goods and consumer cyclicals and non-cyclicals.
- Detractors: Security selection in banking-related issues.
- Outlook: We maintain our emphasis on diligent security selection and individual company fundamentals. While we believe IG corporate bonds continue to offer relatively attractive yield, spread levels offer little cushion for further economic, market or geopolitical surprises
Franklin Templeton Fixed Income
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Managed Fund Since 2024
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Managed Fund Since 2024
![[Marc Kremers avatar]](https://franklintempletonprod.widen.net/content/qlvdqgpevm/webp/Kremer_Marc_500x500.png){kind=avatar}
Managed Fund Since 2016
Latest Insights
November 12, 2025
October 30, 2025
October 28, 2025
October 9, 2025
Performance
Calendar Year 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.
Franklin Investment Grade Corporate ETF - Market Price Return (%)
Franklin Investment Grade Corporate ETF - NAV Return (%)
Bloomberg US Corporate - Investment Grade Index (%)
Ratings 14
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Portfolio
Assets
As of11/13/2025 (Updated Daily)
- Total Net Assets
- $558.86 Million
Positions
As of 11/13/2025 (Updated Daily)
Number of Holdings
- Fund
- 217
Portfolio Statistics
As of 11/13/2025 (Updated Daily)
Average Weighted Maturity 9
- Fund
- 10.07 Years
- Benchmark
- 10.30 Years
- Fund
- 6.79 Years
- Benchmark
- 6.82 Years
- Fund
- 81BPS
- Benchmark
- 82BPS
Geographic Allocation
As of 11/13/2025 % of Total (Updated Daily)
| Geography | Fund | Benchmark |
|---|---|---|
North America | 85.92% | 89.19% |
| United States | 85.03% | 86.08% |
| Canada | 0.89% | 3.12% |
Europe | 11.25% | 6.82% |
| Germany | 2.06% | 0.42% |
| United Kingdom | 1.96% | 3.83% |
| Switzerland | 1.62% | 0.19% |
| Ireland | 1.49% | 0.39% |
| France | 1.01% | 0.28% |
| Belgium | 0.70% | 0.54% |
| Italy | 0.60% | 0.01% |
| Norway | 0.58% | — |
| Denmark | 0.56% | — |
| Portugal | 0.46% | — |
| Spain | 0.23% | 0.59% |
Asia | 1.78% | 2.31% |
| Japan | 1.78% | 1.89% |
Australia/New Zealand | 0.55% | 1.00% |
| Australia | 0.55% | 1.00% |
Cash & Cash Equivalents | 0.51% | — |
| Cash & Cash Equivalents | 0.51% | — |
Holdings
As of 11/13/2025 (Updated Daily)
GOLDMAN SACHS G 2.64 2/28
BANK OF AMER C 5.202 4/29
WELLS FARGO CO 4.808 7/28
AT&T INC 3.5 6/41
MORGAN STANLEY 1.794 2/32
PNC FINANCIAL 6.615 10/27
T-MOBILE USA I 2.875 2/31
JPMORGAN CHAS 6.087 10/29
BANK OF AMER C 4.571 4/33
JPMORGAN CHASE 2.963 1/33
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
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 5.38%
At Market Price 5.38%
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
11/04/2025
10/02/2025
09/02/2025
08/01/2025
07/01/2025
06/02/2025
05/01/2025
04/01/2025
03/03/2025
02/03/2025
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 11/13/2025 (Updated Daily)
Daily Fund Prices
As of 11/13/2025
Share Prices
As of 11/13/2025
52-Week Range
- Highest NAV
As of 10/28/2025 - $22.10
- Lowest NAV
As of 04/11/2025 - $20.82
- Highest Market Price
As of 10/27/2025 - $22.09
- Lowest Market Price
As of 01/13/2025 - $20.83
Premium / Discount
As of 11/13/2025
- 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
10 - 0.00%
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Investment Grade Corporate ETF | |||
| Product Commentary - Franklin Investment Grade Corporate ETF |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Investment Grade Corporate ETF - Single Class | |||
| Annual Financial Statements and Other Information - Franklin Templeton ETF Trust 2 | |||
| Semi-Annual Report - Franklin Investment Grade Corporate ETF - Single Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Income Equity Focus ETF | |||
| Prospectus - Franklin Templeton ETF Trust 2 Active Funds | |||
| Summary Prospectus - Franklin Investment Grade Corporate ETF Fund | |||
| Statement of Additional Information - Franklin Templeton ETF Trust 2 Active Funds | |||
| Fiscal Q1 Holdings - Franklin Templeton ETF Trust Smart Beta Funds | |||
| Fiscal Q3 Holdings - Franklin Templeton ETF Trust Smart Beta Funds |
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.