Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Putnam ETF Trust - Franklin Massachusetts Municipal Income ETF
$8.56+0.06 (+0.71%)
- 0.36%
- $284M
- 0.2M sh
- $8.49
- low $8.12high $9.21
The ETF.net FTMA Grade
B
Score 56 out of 100
- 34 of 63
Score 56 of 100 falls in the B 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.C41 out of 100Rank 33 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A78 out of 100Rank 45 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B59 out of 100Rank 17 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B58 out of 100Rank 24 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C43 out of 100Rank 46 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B60 out of 100Rank 31 of 63
FTMA Holdings
- Bonds
- 190
- 19%
- PGLXX
Sectors
- Municipal100.0%
FTMA 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.Not enough history yet.Not enough history yet.Not enough history yet.
FTMA$9,690
Returns run to the Oct 12, 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 | FTMA |
|---|---|
| Year to date | −3.1% |
| 1 month | −2.3% |
| 3 months | −5.4% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 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 | FTMA |
|---|---|---|
| 2026 YTD | −3.1% | |
| 2025 | 0.0% |
FTMA in the news
FTMA Dividends
- $0.03 per share
- Monthly
Distribution data unavailable.
Distribution history
FTMA Risk
- —
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.
- —
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.
- —
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.
- 0.13
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FTMA Cost
0.36%
FTMA0.36%
- The middle half of Other Municipal Bond funds
- Median 0.30%
37 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- BMINOPIMCO Municipal Income Opportunities Active Exchange-Traded FundExpense ratio 0.49%1 year return −2.2%
- BWTMUWisdomTree Core Laddered Municipal FundExpense ratio 0.25%1 year return −2.1%
- CFTMNPutnam ETF Trust - Franklin Minnesota Municipal Income ETFExpense ratio 0.36%1 year return —
- BJHMUJohn Hancock Investments - Dynamic Municipal Bond ETFExpense ratio 0.39%1 year return −1.1%
- BNUMINuveen Municipal IncomeExpense ratio 0.30%1 year return −2.7%