Franklin Municipal High Yield ETF
$10.89+0.08 (+0.74%)
- 0.35%
- $642M
- 0.3M sh
- $10.80
- low $10.69high $11.90
The ETF.net FTMH Grade
B
Score 64 out of 100
- 8 of 19
Score 64 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.B67 out of 100Rank 6 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A86 out of 100Rank 12 of 18Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D34 out of 100Rank 16 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 3 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D35 out of 100Rank 15 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A70 out of 100Rank 7 of 19
Our read on FTMH
BMost muni ETFs are cheap index trackers. FTMH works the other side of the street: an active hunt for tax-exempt income in the muni market's lower-rated corners, off a strategy whose track record starts in 1985.
The fund seeks high current income exempt from federal income tax.
Why people hold it
- One job, stated plainly in its own filings: high current income exempt from federal income tax. That is a different mandate than a broad investment-grade muni index fund.
- The strategy's record runs back to 1985, through multiple muni credit cycles, long before the ETF wrapper showed up.
- Roughly 500 bond positions, so one troubled issuer is a dent rather than a crater.
- In a crowded muni field, it lands in the upper half of the funds we review, which is respectable company for a credit-picking strategy.
Worth knowing
- 0.35% a year, above the muni-fund median of 0.30% and well above index staples like VTEB (0.03%) and MUB (0.05%). Active credit research is the thing you are paying for.
- High yield muni means lower-rated issuers. Credit risk and price swings run hotter here than in investment-grade muni index funds.
- Volume is moderate rather than firehose-level, and the underlying bonds trade thinly, so bid-ask spreads can be wider than the big index munis.
FTMH Holdings
- Bonds
- 535
- 19%
- PGLXX
FTMH Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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FTMH$9,677
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 | FTMH |
|---|---|
| Year to date | −3.2% |
| 1 month | −3.1% |
| 3 months | −7.2% |
| 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 | FTMH |
|---|---|---|
| 2026 YTD | −3.2% | |
| 2025 | +0.1% |
FTMH in the news
FTMH Dividends
- $0.05 per share
- Monthly
Distribution data unavailable.
Distribution history
FTMH 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.
- 0.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FTMH Cost
0.35%
FTMH0.35%
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
5 of the 19 High-Yield Municipal Bonds funds charge less.
Other funds in High-Yield Municipal Bonds
- BHIMUBlackrock ETF Trust II - Ishares High Yield Muni Active ETFExpense ratio 0.40%1 year return −1.8%
- BTHYMT. Rowe Price High Income Municipal ETFExpense ratio 0.32%1 year return —
- BFMHIFirst Trust Municipal High Income ETFExpense ratio 0.49%1 year return −2.3%
- BNHYMNuveen High Yield Municipal IncomeExpense ratio 0.35%1 year return −2.8%
- BIROCInvesco Rochester High Yield Municipal ETFExpense ratio 0.40%1 year return −0.9%