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

# FTMN: Putnam ETF Trust - Franklin Minnesota Municipal Income ETF

Grade **C**, 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 | 85 | 37 of 59 |
| Risk | 42 | 44 of 63 |
| Tradability | 56 | 26 of 63 |
| Holdings | 52 | 38 of 63 |
| Durability | 60 | 31 of 63 |

## Top holdings

The fund holds 220 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | PGLXX | Putnam Govt Mmkt Fnd-P | 3.77% |
| 2 | — | Mn Muni Gas Agy-A 5 9/35 | 2.62% |
| 3 | — | St Cloud-Ref-Rev 5 5/54 | 2.14% |
| 4 | — | Wayzata ISD#284-B 5 2/39 | 2.07% |
| 5 | — | Rochester Pub Isd# 4 2/37 | 1.74% |
| 6 | — | Restructured-S 4.329 7/40 | 1.72% |
| 7 | — | Minneapolis 4 12/37 | 1.55% |
| 8 | — | Mn Hgr Edu Facs A 4 10/46 | 1.55% |
| 9 | — | Minneapolis 4 12/38 | 1.53% |
| 10 | — | Minneapolis -Rev 4 11/40 | 1.46% |
| 11 | — | Martin Co Isd #244 4 2/43 | 1.44% |
| 12 | — | Minnesota St-Cops 5 11/40 | 1.32% |
| 13 | — | Prior Lake Isd #71 0 2/27 | 1.30% |
| 14 | — | Wayzata ISD#284-B 5 2/38 | 1.30% |
| 15 | — | Mn Agric Econ D 5.25 1/54 | 1.24% |
| 16 | — | Minneapolis Spl Sd 5 2/29 | 1.23% |
| 17 | — | Minneapolis Mn 2.35 2/38 | 1.23% |
| 18 | — | Wstrn Mn Muni Pwr- 5 1/49 | 1.22% |
| 19 | — | Mn Agric & Econ-A 5 11/42 | 1.18% |
| 20 | — | Hennepin Co -C 5 12/35 | 1.14% |
| 21 | — | Hennepin Co Regl 5 12/35 | 1.13% |
| 22 | — | Rochester-Ser D Frn 11/64 | 1.13% |
| 23 | — | Minnesota St-Cops 5 11/41 | 1.13% |
| 24 | — | Minnesota St-A 5 8/44 | 1.12% |
| 25 | — | Shakopee Pub-C-Cab 0 2/30 | 1.08% |
| 26 | — | Met Council-C 4 3/38 | 1.06% |
| 27 | — | Anoka Hennepin Isd 3 2/45 | 1.06% |
| 28 | — | Met Council-C 4 3/37 | 1.04% |
| 29 | — | Met Council-C 4 3/36 | 1.01% |
| 30 | — | Minnesota Hgr Edu 5 3/53 | 0.97% |

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