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FTMU

GradeBNew York Stock Exchange Arca

Franklin Municipal Income ETF

Municipal Bond · Franklin Templeton · Inception 1976-12-31 · SEC filings

$7.45−0.04 (−0.60%)

As of Sep 23, 2026, 3:07 PM EDT

History starts Oct 27, 2025.History starts Oct 27, 2025.
Intraday session: down, 36 prints from 7.49 to 7.45. Range 7.42 to 7.51. Use the arrow keys to read each point.$7.48$7.5210 AM12 PM2 PM4 PM
Expense ratio
0.30%
Fund size
$447M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
264
Volume · 30D
0.2M sh
NAV per share
$7.51
52W range
low $7.49high $8.00

The ETF.net FTMU Grade

B

61/ 100

Rank 25 of 63 in Other Municipal Bond⁠

Confidence High

Six-pillar profile for FTMU. Scores out of 100: Cost 51, Risk 52, Mission 81, Tradability 51, Holdings 70, Durability 64. Strongest: Mission (81). Weakest: Tradability (51). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 61 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 51
    Category rank32/63 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 81
    Category rank34/57 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank30/62 · top 48%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 51
    Category rank31/63 · top 49%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 70
    Category rank22/63 · top 35%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank26/63 · top 41%

Graded as of Sep 22, 2026

Our read on FTMU

ETF.net Research

BA municipal bond strategy with roots going back to 1976, now running inside an ETF. The job: income exempt from federal tax, spread across roughly 300 bonds, measured against the Bloomberg Municipal Bond Index, at a fee sitting right on the category median.

Stated mandate

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

Why people hold it

  1. 01Long lineage. The strategy dates to 1976, which puts decades of rate cycles behind the approach now delivered in an ETF wrapper.
  2. 02The mandate is refreshingly plain: a high level of current income exempt from federal income tax, consistent with preservation of capital, spread over roughly 300 municipal bonds.
  3. 03The 0.30% fee lands exactly at the muni-cohort median and undercuts Franklin's own FTCA (0.35%), which is measured against the same Bloomberg muni benchmark.

Worth knowing

  1. 01Hands-on bond picking has a price. Broad index muni funds like VTEB and SCMB charge 0.03%, so 0.30% is what the active seat costs here.
  2. 02Payouts have arrived on an irregular cadence rather than a fixed monthly rhythm, so income timing is less predictable than at some muni peers.
  3. 03The tax break in the objective is federal. It says nothing about state or local income tax, which varies by where you live.

FTMU Holdings

As of Sep 22, 2026, 9:40 PM
Asset class
Bonds
Holdings
264
Top-10 weight
14%
Largest holding
NY ST URBAN DEV-A 5 3/442.3%
The fund’s holdings, weight-ordered — page 1 of 18.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—NY ST URBAN DEV-A 5 3/442.26%10,000,000$10M1
002PGLXXPUTNAM GOVT MMKT FND-P2.16%9,659,066$10M14
003—MET WA ARPTS-CABS 0 10/371.40%11,000,000$6M1
004—PORT HOUSTON TX A 5 10/481.28%5,745,000$6M1
005—TRIBOROUGH BRID 5.25 5/571.26%5,600,000$6M1
006—FEDERAL HOME LO 2.55 6/351.22%6,485,000$5M1
007—SC JOBS-ECON DE 5.5 11/541.14%5,000,000$5M1
008—DT OF COLUMBIA 5 1/451.13%5,000,000$5M1
009—BLACK BELT ENERGY 5 10/351.13%5,000,000$5M2
010—PA TURNPIKE C MULTI 12/441.12%5,000,000$5M1
011—NEW YORK ST TWY -C 5 3/541.11%5,000,000$5M1
012—WI HLTH & EDU FAC 4 4/361.08%5,000,000$5M1
013—KY PUB ENERGY AUTH 5 6/341.07%4,750,000$5M2
014—DEKALB CNTY GA HSG 4 3/341.06%5,000,000$5M1
015—NH HLTH &EDU FACS 5 10/371.00%4,500,000$4M1

Showing 1–15 of 267 holdings

FTMU Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FTMU$9,849
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. FTMU $9,849. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 FTMU. Periods over one year show the average yearly return.
PeriodFTMU
Year to date−1.5%
1 month−2.8%
3 months−4.1%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per 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 FTMU
YearReturn barFTMU
2026 YTD−1.5%
2025−0.0%

History from Oct 27, 2025

FTMU in the news

ETF.net Research hasn’t filed on FTMU yet — coverage lands here as it’s written.

FTMU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
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. 10 payments from 2025 to 2026 YTD. Dec 1, 2025 $0.03; Dec 19, 2025 $0.03; Feb 2, 2026 $0.02; 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 $0.04; Sep 1, 2026 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.03
Aug 3, 2026Aug 6, 2026$0.04
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$0.02
Dec 19, 2025Dec 24, 2025$0.03
Dec 1, 2025Dec 4, 2025$0.03

FTMU 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.
0.16
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.

FTMU Cost

Expense ratio0.30%
  • The middle half of Other Municipal Bond funds
  • Median 0.30%

29 of the 62 Other Municipal Bond funds charge less.

FTMU costs $30.00 a year on $10,000. The median Other Municipal Bond fund costs $30.00.