Franklin Dynamic Municipal Bond ETF
$24.09+0.03 (+0.12%)
- 0.30%
- $2.39B
- +0.6%
- 4.11%
- 1.2M sh
- low $23.04high $25.46
The ETF.net FLMI Grade
A
Score 71 out of 100
- 15 of 63
Score 71 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C48 out of 100Rank 30 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B56 out of 100Rank 23 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A90 out of 100Rank 1 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B63 out of 100Rank 27 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 12 of 63
Our read on FLMI
In short
AFranklin's muni fund skips the index-hugging route: a hands-on book of roughly 1,300 tax-exempt bonds, paying out monthly. Federal-tax-free income is the entire job description, and it has been at it since 2017.
Stated mandate
The fund seeks high current income exempt from federal income taxes. It normally invests at least 80% of net assets in municipal securities whose interest is federally tax-exempt.
Why people hold it
Worth knowing
FLMI Holdings
- Bonds
- 1,454
- 18%
- Ky Pub Energy Auth 5 6/34
Geography
- United States99.45%
- Puerto Rico0.47%
- Turkey0.05%
- Canada0.03%
FLMI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
FLMI$10,059
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FLMI |
|---|---|
| Year to date | +0.1% |
| 1 month | +4.0% |
| 3 months | −1.0% |
| 1 year | +0.6% |
| 3 years | +6.4% |
| 5 years | +1.8% |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FLMI |
|---|---|---|
| 2026 YTD | +0.1% | |
| 2025 | +5.9% | |
| 2024 | +4.9% | |
| 2023 | +7.9% | |
| 2022 | −10.2% | |
| 2021 | +4.1% | |
| 2020 | +6.1% |
FLMI in the news
FLMI Dividends
- 4.11%
- $0.99
- $0.09 per share
- Monthly
FLMI Risk
- 6.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.33
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.89
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
FLMI Cost
Overpaying vs VTEB, tied cheapest in Other Municipal Bond
$5,511
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
FLMI 0.30%
$6,149
VTEB 0.03% Tied cheapest
$638
Cost over time
Year by year
| Year | FLMI | VTEB | Overpaying |
|---|---|---|---|
| 10 | $545 | $55 | $490 |
| 20 | $2,113 | $216 | $1,897 |
| 30 | $6,149 | $638 | $5,511 |
Other funds in Other Municipal Bond
- AGMUBGoldman Sachs Municipal Income ETFExpense ratio 0.18%1 year return +1.5%
- ATAXFAmerican Century Diversified Municipal Bond ETFExpense ratio 0.25%1 year return +0.2%
- BHMOPHartford Municipal Opportunities ETFExpense ratio 0.29%1 year return +0.6%
- BDFCADimensional California Municipal Bond ETFExpense ratio 0.19%1 year return +0.6%
- BPZAInvesco National AMT-Free Municipal Bond ETFExpense ratio 0.28%1 year return −2.0%
