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Launched

Franklin Municipal High Yield ETF

FTMHNYSE ArcaFranklin TempletonB

$11.16+0.01 (+0.12%)

At close: Nov 2, 2026, 4:00 PM ET

B68/ 100

Rank 6 of 19 in High-Yield Municipal Bonds

B68/100Rank 6 of 19inHigh-Yield Municipal Bonds
Intraday session: up, 79 prints from 11.15 to 11.16. Range 11.14 to 11.19. Use the arrow keys to read each point.11.1411.1711.1811.1910 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$690M
1Y total return
+0.5%
Yield · Last 12 months
No data
Holdings
567
Avg volume · 30D
470K sh
52W range
low $10.69high $11.90
Launched

The ETF.net FTMH Grade

B

Score 68 out of 100

Category
High-Yield Municipal Bonds⁠
Rank
6 of 19
Six-pillar profile for FTMH. Scores out of 100: Cost 67, Risk 37, Mission 89, Tradability 72, Holdings 62, Durability 69. Strongest: Mission (89). Weakest: Risk (37). Leans toward Mission.

Score 68 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 100
    Rank 6 of 19

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A89 out of 100
    Rank 10 of 18

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D37 out of 100
    Rank 14 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A72 out of 100
    Rank 2 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B62 out of 100
    Rank 9 of 19

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B69 out of 100
    Rank 8 of 19

Our read on FTMH

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Sep 9, 1985

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.
FTMH$10,051
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FTMH $10,051. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

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.

Trailing total return for FTMH. Periods over one year show the average yearly return.
PeriodFTMH
Year to date+0.2%
1 month+3.5%
3 months−2.1%
1 year+0.5%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper yearNo data

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 FTMH
YearReturn barFTMH
2026 YTD+0.2%
2025+0.1%

History from Oct 27, 2025

FTMH in the news

FTMH Dividends

Last payment
$0.05 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. 11 payments from 2025 to 2026 YTD. Dec 1, 2025 $0.05; Dec 19, 2025 $0.06; Feb 2, 2026 $0.05; Mar 2, 2026 $0.04; Apr 1, 2026 $0.05; May 1, 2026 $0.05; Jun 1, 2026 $0.04; Jul 1, 2026 $0.04; Aug 3, 2026 $0.05; Sep 1, 2026 $0.04; Oct 1, 2026 $0.05. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.04
Oct 1, 2026Oct 6, 2026$0.05
Sep 1, 2026Sep 4, 2026$0.04
Aug 3, 2026Aug 6, 2026$0.05
Jul 1, 2026Jul 7, 2026$0.04
Jun 1, 2026Jun 4, 2026$0.04
May 1, 2026May 6, 2026$0.05
Apr 1, 2026Apr 6, 2026$0.05
Mar 2, 2026Mar 5, 2026$0.04
Feb 2, 2026Feb 5, 2026$0.05
Dec 19, 2025Dec 24, 2025$0.06
Dec 1, 2025Dec 4, 2025$0.05

$10,000 in FTMH 1 year ago paid $435 in dividends.

FTMH Risk

Risk pillarD37 out of 100Rank 14 of 19 in High-Yield Municipal Bonds
How much the fund’s monthly returns vary, scaled to a year.
8.2%
Annualised · 12 months to Oct 2026
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.
−0.36
vs 3-month T-bills · 12 months to Oct 2026
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.
−8.4%
12 months · trough Sep 2026
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.
0.19
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.

FMP measures it over up to five years of monthly returns.

FTMH Cost

Compare FTMH and FMUB

Overpaying vs FMUB, cheapest in High-Yield Municipal Bonds

$977

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FTMH 0.35%

    $7,126

  • FMUB 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • FTMH 0.35%
  • FMUB 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530FTMH $7,126FMUB $6,149

Year by year

YearFTMHFMUBOverpaying
10$634$545$89
20$2,454$2,113$341
30$7,126$6,149$977

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