---
ticker: "FTMS"
name: "Franklin Short-Term Municipal Income ETF"
url: "https://etf.net/etf/FTMS"
grade: "B"
score: 63
graded_at: "2026-10-12"
category: "Short-Duration Municipal Bonds"
category_rank: "13 of 28"
methodology: "https://etf.net/methodology"
---

# FTMS: Franklin Short-Term Municipal Income ETF

Grade **B**, Score 63 of 100. Rank 13 of 28 in Short-Duration Municipal Bonds.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 56 | 13 of 28 |
| Mission | 100 | 1 of 27 |
| Risk | 54 | 11 of 27 |
| Tradability | 34 | 20 of 28 |
| Holdings | 58 | 13 of 28 |
| Durability | 65 | 10 of 28 |

## Top holdings

The fund holds 260 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | PGLXX | Putnam Govt Mmkt Fnd-P | 3.74% |
| 2 | — | Net Current Assets | 2.14% |
| 3 | — | Matching Fund Spl 5 10/30 | 1.32% |
| 4 | — | S E Energy Auth- Frn 3/55 | 1.24% |
| 5 | — | Jefferson Sales T 5 12/28 | 1.14% |
| 6 | — | Selkirk Fire Dt-Ba 4 8/27 | 1.04% |
| 7 | — | Il Fin Auth -Rem Frn 5/40 | 1.03% |
| 8 | — | Owen Co-Var-Ref- Frn 6/40 | 1.03% |
| 9 | — | Main Street Natu Frn 7/52 | 1.01% |
| 10 | — | Ca St UNIV-B2 Frn 11/49 | 1.01% |
| 11 | — | Centrl PUGET-S-1- 5 11/29 | 0.96% |
| 12 | — | Austin -Elec Utl 5 11/27 | 0.96% |
| 13 | — | Oro Grande Esd-Cop 4 9/28 | 0.95% |
| 14 | — | New York B-1-REF 5 8/28 | 0.94% |
| 15 | — | Tx TRANSPRTN-B1 Frn 10/44 | 0.93% |
| 16 | — | Los Angeles-Trans 5 6/27 | 0.93% |
| 17 | — | Philadelphia Sd-B 5 6/27 | 0.93% |
| 18 | — | Cleveland Muni Sd 5 12/29 | 0.93% |
| 19 | — | Frankfort Schuyler 4 7/27 | 0.92% |
| 20 | — | Rockland Csd-B-Ban 4 6/27 | 0.92% |
| 21 | — | Main STREET-B-2 Frn 9/34 | 0.92% |
| 22 | — | Energy Southeast Frn 4/34 | 0.92% |
| 23 | — | Newark-Bans 4.25 5/27 | 0.92% |
| 24 | — | Kentucky Pub Engy 5 12/33 | 0.91% |
| 25 | — | Main Street Nat Frn 8/52 | 0.91% |
| 26 | — | St John Baptist Frn 6/37 | 0.91% |
| 27 | — | Tx Muni Gas Acq V 5 4/36 | 0.91% |
| 28 | — | Ca Cmnty Choice Frn 11/55 | 0.90% |
| 29 | — | Newport News Red Frn 7/30 | 0.90% |
| 30 | — | Southeast Energ Frn 12/51 | 0.88% |

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