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Launched · SEC filings

Franklin Municipal Income ETF

FTMUNYSE ArcaFranklin TempletonB

$7.55+0.01 (+0.13%)

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

B60/ 100

Rank 27 of 63 in Other Municipal Bond

B60/100Rank 27 of 63inOther Municipal Bond
Intraday session: up, 77 prints from 7.54 to 7.55. Range 7.54 to 7.57. Use the arrow keys to read each point.7.547.557.567.5710 AM12 PM2 PM4 PM
Expense ratio
0.30%
Fund size
$489M
1Y total return
+0.4%
Yield · Last 12 months
No data
Holdings
282
Avg volume · 30D
290K sh
52W range
low $7.23high $8.00
Launched
Filings
SEC EDGAR

The ETF.net FTMU Grade

B

Score 60 out of 100

Category
Other Municipal Bond⁠
Rank
27 of 63
Six-pillar profile for FTMU. Scores out of 100: Cost 48, Risk 45, Mission 84, Tradability 50, Holdings 73, Durability 63. Strongest: Mission (84). Weakest: Risk (45). Leans toward Mission.

Score 60 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.
    C48 out of 100
    Rank 30 of 63

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A84 out of 100
    Rank 43 of 59

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C45 out of 100
    Rank 31 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C50 out of 100
    Rank 33 of 63

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A73 out of 100
    Rank 18 of 63

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B63 out of 100
    Rank 26 of 63

Our read on FTMU

ETF.net Research

In short

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

  • Long lineage. The strategy dates to 1976, which puts decades of rate cycles behind the approach now delivered in an ETF wrapper.
  • The 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.
  • The 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

  • Hands-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.
  • Payouts have arrived on an irregular cadence rather than a fixed monthly rhythm, so income timing is less predictable than at some muni peers.
  • The tax break in the objective is federal. It says nothing about state or local income tax, which varies by where you live.

FTMU Performance

Launched Dec 31, 1976

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.
FTMU$10,038
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. FTMU $10,038. 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 FTMU. Periods over one year show the average yearly return.
PeriodFTMU
Year to date−0.1%
1 month+3.5%
3 months−1.3%
1 year+0.4%
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 FTMU
YearReturn barFTMU
2026 YTD−0.1%
20250.0%

History from Oct 27, 2025

FTMU in the news

FTMU 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 $0.02; 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; Oct 1, 2026 $0.03. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.03
Oct 1, 2026Oct 6, 2026$0.03
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

$10,000 in FTMU 1 year ago paid $386 in dividends.

FTMU Risk

Risk pillarC45 out of 100Rank 31 of 63 in Other Municipal Bond
How much the fund’s monthly returns vary, scaled to a year.
7.2%
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.
−0.44
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.
−7.6%
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.
0.16
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.

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

FTMU Cost

Compare FTMU and VTEB

Overpaying vs VTEB, tied cheapest in Other Municipal Bond

$5,511

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

  • FTMU 0.30%

    $6,149

  • VTEB 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • FTMU 0.30%
  • VTEB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530FTMU $6,149VTEB $638

Year by year

YearFTMUVTEBOverpaying
10$545$55$490
20$2,113$216$1,897
30$6,149$638$5,511

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