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FTCA

GradeCNew York Stock Exchange Arca

Franklin California Municipal Income ETF

Municipal Bond · Franklin Templeton · Inception 1983-04-29 · SEC filings

$6.95−0.07 (−1.00%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Oct 27, 2025.History starts Oct 27, 2025.
Intraday session: down, 35 prints from 7.02 to 6.95. Range 6.95 to 7.03. Use the arrow keys to read each point.$6.96$6.98$7.00$7.02$7.0410 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$556M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
296
Volume · 30D
0.2M sh
NAV per share
$7.03
52W range
low $7.00high $7.47

The ETF.net FTCA Grade

C

51/ 100

Rank 43 of 63 in Other Municipal Bond⁠

Confidence High

Six-pillar profile for FTCA. Scores out of 100: Cost 36, Risk 39, Mission 73, Tradability 51, Holdings 58, Durability 68. Strongest: Mission (73). Weakest: Cost (36). Leans toward Mission and Durability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 51 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 36
    Category rank36/63 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 73
    Category rank43/57 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 39
    Category rank49/62 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 51
    Category rank30/63 · top 48%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 58
    Category rank30/63 · top 48%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 68
    Category rank21/63 · top 33%

Graded as of Sep 22, 2026

Our read on FTCA

ETF.net Research

CRoots back to 1983 and one job since: California muni income the fund seeks to keep exempt from both the federal and the state tax bill. About 300 investment-grade bonds, maturities of three years and up.

Stated mandate

The fund seeks high current income exempt from federal and California personal income taxes while preserving capital. It primarily invests in investment-grade municipal bonds with maturities of at least three years.

Why people hold it

  1. 01Goes for the double exemption: income the fund targets as free from federal and California personal income taxes, not just the federal side.
  2. 02The strategy's inception dates to 1983, decades before most of today's muni ETF shelf existed.
  3. 03Spread across roughly 300 investment-grade municipal bonds with maturities of at least three years, so no single issuer carries the portfolio.
  4. 04Run by Franklin Templeton and benchmarked to the Bloomberg Municipal Bond Index, so its results are measured against the broad muni market rather than a niche yardstick.

Worth knowing

  1. 01The 0.35% fee sits above the muni-ETF norm, and broad index rivals like VTEB (0.03%) and MUB (0.05%) charge a fraction of it. Single-state coverage costs more.
  2. 02One state, one credit story. California budgets and issuers drive it, without the geographic spread of a national muni fund.
  3. 03Current income is the stated goal, but the fund doesn't lock in a payout frequency, so distribution timing isn't on a fixed calendar.

FTCA Holdings

As of Sep 22, 2026, 9:33 PM
Asset class
Bonds
Holdings
296
Top-10 weight
14%
Largest holding
CA POLL CNTRL-AMT 5 11/451.8%
The fund’s holdings, weight-ordered — page 1 of 20.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CA POLL CNTRL-AMT 5 11/451.76%10,000,000$10M2
002PGLXXPUTNAM GOVT MMKT FND-P1.65%9,222,271$9M14
003—FRETE 2019-ML05 ACA 11/331.65%9,748,933$9M2
004—CHABOT-LAS POSI 5.25 8/481.31%7,000,000$7M1
005—SAN FRANCISCO CIT 5 11/531.27%7,000,000$7M1
006—CA CMNTY CHOICE FRN 2/551.26%6,830,000$7M1
007—LOS ANGELES CA DEP 5 7/461.26%7,000,000$7M2
008—MSR ENERGY 6.5 11/391.23%6,000,000$7M2
009—SAN DIEGO HSG AU 4.2 6/401.21%7,395,000$7M1
010—CA MUNI FIN AUTH 4.2 8/401.20%7,340,000$7M2
011—SWEETWATER UN HSD- 5 8/521.18%6,500,000$7M1
012—CALIFORNIA ST MUNI 3 5/511.16%9,250,000$6M1
013—CALIFORNIA ST 5 10/451.03%5,575,000$6M1
014—CALIFORNIA ST 5.25 11/521.02%6,000,000$6M1
015—ALAMEDA CA CO MULTI 10/491.02%10,000,000$6M1

Showing 1–15 of 291 holdings

FTCA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FTCA$9,849
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. FTCA $9,849. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for FTCA. Periods over one year show the average yearly return.
PeriodFTCA
Year to date−1.5%
1 month−2.7%
3 months−4.1%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FTCA
YearReturn barFTCA
2026 YTD−1.5%
2025+0.1%

History from Oct 27, 2025

FTCA in the news

ETF.net Research hasn’t filed on FTCA yet — coverage lands here as it’s written.

FTCA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 10 payments from 2025 to 2026 YTD. Dec 1, 2025 $0.02; Dec 19, 2025 $0.03; Feb 2, 2026 $0.02; Mar 2, 2026 $0.02; Apr 1, 2026 $0.02; May 1, 2026 $0.03; Jun 1, 2026 $0.02; Jul 1, 2026 $0.02; Aug 3, 2026 $0.03; Sep 1, 2026 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.02
Aug 3, 2026Aug 6, 2026$0.03
Jul 1, 2026Jul 7, 2026$0.02
Jun 1, 2026Jun 4, 2026$0.02
May 1, 2026May 6, 2026$0.03
Apr 1, 2026Apr 6, 2026$0.02
Mar 2, 2026Mar 5, 2026$0.02
Feb 2, 2026Feb 5, 2026$0.02
Dec 19, 2025Dec 24, 2025$0.03
Dec 1, 2025Dec 4, 2025$0.02

FTCA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
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.

The largest fall from a peak to the low that followed.
—
No data available
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.

How strongly the fund’s returns move with its asset-class index.
0.15
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FTCA Cost

Expense ratio0.35%
  • The middle half of Other Municipal Bond funds
  • Median 0.30%

35 of the 62 Other Municipal Bond funds charge less.

FTCA costs $35.00 a year on $10,000. The median Other Municipal Bond fund costs $30.00.