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Equity Indexed

FLQL Franklin U.S. Large Cap Multifactor Index ETF

  • Seeks a smoother investor experience. Aims to participate in up-markets while minimizing drawdowns during downturns.
  • Rules-based approach. Tracks an underlying index with a weighted methodology anchored around three diversifying factors: 40% quality, 30% value and 30% momentum.
  • Core US equity exposure. Low tracking error relative to the investment universe.

Popular Documents

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NAV 1 $-0.03(-0.04%)
$76.38
As of 06/09/2026
YTD Total Returns At NAV 2
10.42%
As of 06/09/2026
Total Net Assets
$1.99B
As of 06/09/2026 (Updated Daily)
Morningstar Overall Rating™ 3
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.
As of 05/31/2026

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Franklin U.S. Large Cap Multifactor Index ETF - FLQL

  • Overview
  • Performance
  • Portfolio
  • Distributions & Tax
  • Pricing
  • Documents
Skipped to Overview Section Content

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 its corresponding underlying index, LibertyQ U.S. Large Cap Equity Index.

Fund Inception Date
04/26/2017
Listing Exchange
Cboe
Underlying Index
LibertyQ U.S. Large Cap Equity Index
Investment Universe
Russell 1000 Index
30-Day SEC Yield—With Waiver4,5,6As of 05/31/2026 (Updated Monthly)
1.13%
30-Day SEC Yield—Without Waiver5,6As of 05/31/2026 (Updated Monthly)
1.13%
Dividend Frequency, if any
Quarterly
Distribution Rate at NAV7As of 06/09/2026 (Updated Daily)
0.81%

Expenses & Fees

As of 08/01/2025
Gross Expense Ratio8
0.15%
Net Expense Ratio8,9
0.15%

Identifiers

Underlying Index Ticker
FLQL1TR
Ticker
FLQL
CUSIP Code
35473P801
ISIN Code
US35473P8014
Bloomberg Code
FLQL US

Average Annual Total Returns As of 05/31/2026

View performance section for additional info As of 05/31/2026

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.

  • 30.88%1 Year
  • 24.28%3 Years
  • 14.78%5 Years
  • —10 Years
  • 14.97%Since Inception
    04/26/2017

Top Sectors

Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

View portfolio section for additional info

As of 06/09/2026 % of Total (Updated Daily)

Top Sectors
Information Technology36.47%
Communication Services11.32%
Consumer Discretionary10.71%
Health Care10.38%
Financials10.14%

Additional Fund Info

Morningstar Category10
Large Blend
Fiscal Year End
March 31
ETF Type
Indexed
Frequency of Index Reconstitution
Quarterly

Trading Characteristics

As of 06/09/2026 (Updated Daily)
Shares Outstanding
26,050,000
Daily Volume
50,895
20-Day Average Volume
69888.22

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.

Commentary Highlights

March 31, 2026
  • Markets:  US equities endured a difficult first quarter of 2026 as investors reassessed the durability of the artificial intelligence (AI) trade and geopolitical risk intensified. Technology-focused shares came under pressure as rising AI-related capital expenditure (capex) spurred a rotation away from mega-capitalization growth toward value stocks. At its two meetings during the quarter, the US Federal Reserve left its benchmark interest rate on hold. March brought further strain as the Middle East conflict disrupted energy markets, lifting oil prices and adding to inflation risk. The Nasdaq Composite Index underperformed the S&P 500 Index, while the Dow Jones Industrial Average proved more resilient. By investment style, value investing surpassed growth across market-cap tiers, with small- and mid-cap stocks performing better than their large-cap counterparts.
  • Contributors:  Factor exposures had a neutral effect on relative returns overall.
  • Detractors:  There were no material detractors from relative performance during the period.

For complete information, please see the full commentary:

Franklin Templeton Investment Solutions
[Dina Tings avatar]

Managed Fund Since 2017

[Hailey Harriss avatar]

Managed Fund Since 2019

[Joe Diederichs avatar]

Managed Fund Since 2022

[Basit Amins avatar]

Managed Fund Since 2022

Portfolio Manager Profile
Years of Experience
Manager Location

[products.skip-performance]

Performance

Average Annual Total Returns

As of 05/31/2026

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.

Choose Month

2026

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2026
Selected Month May 2026
Created with Highcharts 12.6.0051015202530351 Year3 Years5 YearsSince Inception
Franklin U.S. Large Cap Multifactor Index ETF - Market Price Return (%)
Month End
As of 05/31/2026
Franklin U.S. Large Cap Multifactor Index ETF - NAV Return (%)
Month End
As of 05/31/2026
Russell 1000 Index (%)
Month End
As of 05/31/2026
LibertyQ U.S. Large Cap Equity Index (%)
Month End
As of 05/31/2026

Ratings 3

Morningstar logo
Overall Morningstar Rating
Overall Morningstar Rating: 5 out of 5 stars  
As of 05/31/2026
3 Years
3 Years: 4 out of 5 stars  
1201 Funds in category
5 Years
5 Years: 5 out of 5 stars  
1117 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 05/31/2026
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.

©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.

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Portfolio

Assets

As of06/09/2026 (Updated Daily)

Total Net Assets
$1.99 Billion

Positions

As of 06/09/2026 (Updated Daily)

Number of Holdings
Fund
212

Portfolio Statistics

As of 06/09/2026 (Updated Daily)

Return on Assets

An indicator of how profitable a company is relative to its total assets and often provides an indicator of how efficient management is at using its assets to generate earnings.

Fund
18.82%
Benchmark

Russell 1000 Index

16.93%
Return on Equity

Corporation's profitability that reveals how much profit a company generates with the money shareholders have invested.

Fund
32.42%
Benchmark

Russell 1000 Index

27.93%
Price to Earnings (12-Month Forward)

A measure of the price to earnings ratio for a stock using the forecasted earnings for the next 12 months. For a portfolio, the value represents a weighted average of the stocks it holds.

Fund
21.67x
Benchmark

Russell 1000 Index

21.96x
Price to Earnings (12-Month Trailing)

The share price of a stock, divided by its per-share earnings over the past year. For a portfolio, the value represents a weighted average of the stocks it holds.

Fund
26.36x
Benchmark

Russell 1000 Index

27.32x
Price to Book

The price per share of a stock divided by its book value (i.e., net worth) per share. For a portfolio, the ratio is the weighted average price/book ratio of the stocks it holds.

Fund
5.74x
Benchmark

Russell 1000 Index

5.30x
Weighted Average Market Capitalization (USD)

A determination of a company's value, calculated by multiplying the total number of company stock shares outstanding by the price per share. For a portfolio, the value represents a weighted average based on the stocks held.

Fund
$1,451.42 Billion
Benchmark

Russell 1000 Index

—

Sector Allocation

As of 06/09/2026 % of Total (Updated Daily)

Sector Allocation
Sector % of Total
Benchmark

Russell 1000 Index

Information Technology
36.47%35.49%
Communication Services
11.32%9.94%
Consumer Discretionary
10.71%9.57%
Health Care
10.38%8.97%
Financials
10.14%12.06%
Industrials
9.91%9.57%
Consumer Staples
4.40%4.64%
Real Estate
2.55%2.15%
Materials
1.66%2.12%
Utilities
1.48%2.12%
Energy
0.87%3.37%
Cash & Cash Equivalents
0.11%—

Holdings

As of 06/09/2026 (Updated Daily)

APPLE INC
NVIDIA CORP
MICROSOFT CORP
ALPHABET INC-CL A
ALPHABET INC-CL C
AMAZON.​COM INC
BROADCOM INC
CISCO SYSTEMS INC
META PLATFORMS INC-CLASS
LAM RESEARCH CORP

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. 

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Distributions & Tax

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Pricing

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Documents

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. 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.  There can be no assurance that the fund's multi-factor stock selection process will enhance performance. Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. Performance of the fund may vary significantly from the performance of an index, as a result of transaction costs, expenses and other factors. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. 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 LibertyQ U.S. Large Cap Equity Index is based on the Russell 1000 Index, its parent index, which measures the performance of the large-cap segment of the U.S. equity universe. The LibertyQ U.S. Large Cap Equity Index is designed to reflect the performance of a Franklin Templeton strategy that seeks exposure to three factors: Quality, Value and Momentum.
Source: FTSE Russell. The LibertyQ U.S. Large Cap Equity Index is calculated and maintained by FTSE Russell, which aims to reflect the performance of a Franklin Templeton strategy. The Franklin U.S. Large Cap Multifactor Index ETF is not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Franklin U.S. Large Cap Multifactor Index ETF is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the Franklin U.S. Large Cap Multifactor Index ETF. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Franklin Templeton or to its clients. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.  Russell® is a trademark of FTSE Russell.
Source: FTSE Russell. The LibertyQ U.S. Large Cap Equity Index is calculated and maintained by FTSE Russell which, which aims to reflect the performance of a Franklin Templeton strategy.  The Franklin U.S. Large Cap Multifactor Index ETF not in any way sponsored, endorsed, sold or promoted by FTSE Russell.

The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe.
Source: FTSE.

Diversification does not protect an investor from market risk and does not ensure a profit. We note that Smart Beta ETFs are not riskless investments, so investors can lose money. For additional risk considerations, please see the fund's prospectus.

Russell is a trademark of FTSE Russell. 

Daily data source: Calculated by FactSet. Important data provider notices and terms available at www.franklintempletondatasources.com

Footnotes

  1. 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. 

  2. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  3. 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.

  4. With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.

  5. During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.

  6. 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.

  7. 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.

  8. 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.

  9. Net Expense Ratio represents the expense ratio applicable to investors. 

  10. ©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.

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