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Launched

Franklin Short-Term Municipal Income ETF

FTMSNYSE ArcaB

$9.75+0.01 (+0.15%)

As of Oct 13, 2026, 3:59 PM

B63/ 100

Rank 13 of 28 in Short-Duration Municipal Bonds

B63/100Rank 13 of 28inShort-Duration Municipal Bonds
Intraday session: up, 39 prints from 9.73 to 9.75. Range 9.71 to 9.76. Use the arrow keys to read each point.9.719.729.739.7410 AM12 PM2 PM4 PM
Expense ratio
0.22%
Fund size
$218M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
260
Avg volume · 30D
0.2M sh
NAV per share
$9.73
52W range
low $9.68high $10.09
Launched

The ETF.net FTMS Grade

B

Score 63 out of 100

Category
Short-Duration Municipal Bonds⁠
Rank
13 of 28
Six-pillar profile for FTMS. Scores out of 100: Cost 56, Risk 54, Mission 100, Tradability 34, Holdings 58, Durability 65. Strongest: Mission (100). Weakest: Tradability (34). Leans toward Mission.

Score 63 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.
    B56 out of 100
    Rank 13 of 28

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C54 out of 100
    Rank 11 of 27

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D34 out of 100
    Rank 20 of 28

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B58 out of 100
    Rank 13 of 28

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B65 out of 100
    Rank 10 of 28

Our read on FTMS

ETF.net Research

BShort-maturity municipal bonds, built for income the IRS doesn't touch, with preserving capital written into the objective itself. Priced below the typical muni fund, though the category's index giants charge a fraction of that.

Stated mandate

The fund seeks a high level of current income exempt from federal income tax, consistent with preserving capital.

Why people hold it

  1. 01Costs 0.22% a year against a 0.30% median for muni bond funds. On tax-free income, every basis point of fee comes out of the same small yield.
  2. 02The mandate leaves little to interpretation: current income exempt from federal income tax, consistent with preserving capital, from short-maturity US municipals.
  3. 03Roughly 250 municipal positions, so the portfolio leans on breadth across issuers rather than a handful of big bets.
  4. 04Trading since 2013, which puts a full rate cycle behind it rather than a launch-week backtest.

Worth knowing

  1. 01The index heavyweights undercut it badly: VTEB and SCMB at 0.03%, MUB at 0.05%. Here you pay up for the short-maturity focus.
  2. 02Assets are modest by muni-ETF standards and volume is only moderate, which matters more on larger orders than on small ones.
  3. 03Distributions have not followed a fixed calendar, so the income shows up on an irregular rhythm.

FTMS Holdings

As of Oct 13, 2026
Asset class
Bonds
Holdings
260
Top-10 weight
15%
Largest holding
PGLXX3.7%
The fund’s holdings, weight-ordered — page 1 of 18.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PGLXXPutnam Govt Mmkt Fnd-P3.74%8,146,234$8M15
002—Net Current Assets2.14%0$5M157
003—Matching Fund Spl 5 10/301.32%2,810,000$3M5
004—S E Energy Auth- Frn 3/551.24%2,725,000$3M3
005—Jefferson Sales T 5 12/281.14%2,425,000$2M1
006—Selkirk Fire Dt-Ba 4 8/271.04%2,265,000$2M1
007—Il Fin Auth -Rem Frn 5/401.03%2,250,000$2M1
008—Owen Co-Var-Ref- Frn 6/401.03%2,250,000$2M1
009—Main Street Natu Frn 7/521.01%2,200,000$2M1
010—Ca St UNIV-B2 Frn 11/491.01%2,200,000$2M1
011—Centrl PUGET-S-1- 5 11/290.96%2,000,000$2M1
012—Austin -Elec Utl 5 11/270.96%2,050,000$2M1
013—Oro Grande Esd-Cop 4 9/280.95%2,095,000$2M1
014—New York B-1-REF 5 8/280.94%2,000,000$2M1
015—Tx TRANSPRTN-B1 Frn 10/440.93%2,000,000$2M1

Showing 1–15 of 260 holdings

FTMS Performance

Launched Mar 18, 2013

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.
FTMS$10,051
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. FTMS $10,051. SPY $11,500. Use the arrow keys to read each point.$9,149$10,419$11,689Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

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.

Trailing total return for FTMS. Periods over one year show the average yearly return.
PeriodFTMS
Year to date+0.5%
1 month−0.6%
3 months−1.1%
1 yearHistory unavailable—
3 yearsHistory unavailableper year—
5 yearsHistory unavailableper year—
10 yearsHistory unavailableper year—

As of the close, 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 FTMS
YearReturn barFTMS
2026 YTD+0.5%
2025+0.4%

History from Oct 27, 2025

FTMS in the news

Filtered to FTMS · Short-Duration Municipal Bonds

FTMS Dividends

Last payment
$0.03 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 $0.03; Dec 19, 2025 $0.03; Feb 2, 2026 $0.03; Mar 2, 2026 $0.03; Apr 1, 2026 $0.03; May 1, 2026 $0.03; Jun 1, 2026 $0.03; Jul 1, 2026 $0.03; Aug 3, 2026 $0.03; Sep 1, 2026 $0.03; Oct 1, 2026 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 1, 2026Oct 6, 2026$0.03
Sep 1, 2026Sep 4, 2026$0.03
Aug 3, 2026Aug 6, 2026$0.03
Jul 1, 2026Jul 7, 2026$0.03
Jun 1, 2026Jun 4, 2026$0.03
May 1, 2026May 6, 2026$0.03
Apr 1, 2026Apr 6, 2026$0.03
Mar 2, 2026Mar 5, 2026$0.03
Feb 2, 2026Feb 5, 2026$0.03
Dec 19, 2025Dec 24, 2025$0.03
Dec 1, 2025Dec 4, 2025$0.03

FTMS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.
0.07
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.

FTMS Cost

Expense ratio0.22%
  • The middle half of Short-Duration Municipal Bonds funds
  • Median 0.25%

12 of the 27 Short-Duration Municipal Bonds funds charge less.

FTMS costs $22.00 a year on $10,000. The median Short-Duration Municipal Bonds fund costs $25.00.

Other funds in Short-Duration Municipal Bonds

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