---
ticker: "FTMA"
name: "Putnam ETF Trust - Franklin Massachusetts Municipal Income ETF"
url: "https://etf.net/etf/FTMA"
grade: "B"
score: 56
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "34 of 63"
methodology: "https://etf.net/methodology"
---

# FTMA: Putnam ETF Trust - Franklin Massachusetts Municipal Income ETF

Grade **B**, Score 56 of 100. Rank 34 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 41 | 33 of 63 |
| Mission | 78 | 45 of 59 |
| Risk | 59 | 17 of 63 |
| Tradability | 58 | 24 of 63 |
| Holdings | 43 | 46 of 63 |
| Durability | 60 | 31 of 63 |

## Top holdings

The fund holds 190 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | PGLXX | Putnam Govt Mmkt Fnd-P | 4.48% |
| 2 | — | Ma Cmwlth-A 5 6/55 | 1.92% |
| 3 | — | Ma Dev Wgbh Edl 5.75 1/42 | 1.89% |
| 4 | — | Ma Bay Transprtn-A 5 7/51 | 1.70% |
| 5 | — | Massachusetts-C 5 6/53 | 1.70% |
| 6 | — | Massachusetts St-A 5 1/54 | 1.69% |
| 7 | — | Massachusetts Bay 5 7/46 | 1.54% |
| 8 | — | Ma Dev Fin Agy-Ref 5 8/37 | 1.51% |
| 9 | — | Ma Dev Fin Agy-A 5.5 8/50 | 1.41% |
| 10 | — | Massachusetts St 4 10/45 | 1.36% |
| 11 | — | Massachusetts Cmnw 5 6/50 | 1.33% |
| 12 | — | N Reading-Muni Pur 5 5/35 | 1.32% |
| 13 | — | Ma Hsg Fin Agy 3.3 12/59 | 1.26% |
| 14 | — | Brockton 5 8/39 | 1.17% |
| 15 | — | Ma Bay Trans Auth- 5 7/52 | 1.13% |
| 16 | — | Ma Dev Fin Agy-N 4.5 7/54 | 1.08% |
| 17 | — | Massachusetts St D 4 7/51 | 1.08% |
| 18 | — | Ma St Dev-Ff 5 10/48 | 1.06% |
| 19 | — | Net Current Assets | 1.03% |
| 20 | — | Massachusetts St 5 1/49 | 1.03% |
| 21 | — | Boston-A 5 6/45 | 1.02% |
| 22 | — | Massachusetts St D 5 7/50 | 1.02% |
| 23 | — | Massachusetts St P 4 7/44 | 1.01% |
| 24 | — | Ma St Dev Fin Agy- 5 7/34 | 0.99% |
| 25 | — | Ma St Dev Fin -J2 5 7/32 | 0.98% |
| 26 | — | Ma Wtr Resources-C 5 8/42 | 0.95% |
| 27 | — | Massachusetts’s 5.25 7/48 | 0.95% |
| 28 | — | Ma H/E-VAR-J2-MA Frn 7/31 | 0.95% |
| 29 | — | Ma Dev Fin Agy-B 5 2/34 | 0.95% |
| 30 | — | Guam Govt Business 4 1/42 | 0.91% |

Source: etf.net, https://etf.net/etf/FTMA. Please cite the page URL.