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FTPA

GradeCNew York Stock Exchange Arca

Franklin Pennsylvania Municipal Income ETF

Municipal Bond · Franklin Templeton · Inception 1989-07-21 · SEC filings

$8.20−0.10 (−1.20%)

As of Sep 23, 2026, 2:55 PM EDT

Intraday session: down, 29 prints from 8.30 to 8.20. Range 8.18 to 8.29. Use the arrow keys to read each point.$8.25$8.3010 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$110M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
115
Volume · 30D
0.1M sh
NAV per share
$8.30
52W range
low $8.28high $8.81

The ETF.net FTPA Grade

C

50/ 100

Rank 46 of 63 in Other Municipal Bond⁠

Confidence High

Six-pillar profile for FTPA. Scores out of 100: Cost 36, Risk 52, Mission 78, Tradability 40, Holdings 33, Durability 53. Strongest: Mission (78). Weakest: Holdings (33). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C 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.
    DScore 36
    Category rank41/63 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 78
    Category rank36/57 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank32/62 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 40
    Category rank42/63 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank57/63 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank36/63 · mid-pack

Graded as of Sep 22, 2026

Our read on FTPA

ETF.net Research

CA Pennsylvania muni portfolio with 1989 roots: run for decades as a Putnam mutual fund, rewrapped as an ETF in 2025. Actively managed, aiming at income exempt from federal and Pennsylvania income tax.

Stated mandate

The filing identifies Franklin Pennsylvania Municipal Income ETF as a fund with its own investment objective, policies, and principal investment strategies.

Why people hold it

  1. 01Most muni ETFs are national. This one buys Pennsylvania paper, so its income targets exemption from federal and Pennsylvania personal income tax for in-state holders.franklintempleton.com
  2. 02Not a startup fund. The strategy dates to 1989 and reached the ETF wrapper by converting an existing Putnam municipal bond mutual fund, same strategy, new structure.morningstar.com
  3. 03Active, not indexed: roughly 110 Pennsylvania bonds chosen by Franklin's muni team, now with intraday trading and daily holdings disclosure the mutual fund never gave you.franklintempleton.com

Worth knowing

  1. 01State-specific active work costs more: 0.35% a year, above the muni-ETF median of 0.30% and well above national index options like VTEB (0.03%) and MUB (0.05%).
  2. 02Small and thinly traded next to the national muni giants, so spreads can widen. Limit orders are the standard tool for funds in this volume range.
  3. 03One state carries the whole portfolio, so Pennsylvania's budget and credit story drives it, and the state-tax exemption only reaches Pennsylvania taxpayers.franklintempleton.com

FTPA Holdings

As of Sep 22, 2026, 9:39 PM
Asset class
Bonds
Holdings
115
Top-10 weight
24%
Largest holding
PGLXX10.1%
The fund’s holdings, weight-ordered — page 1 of 8.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PGLXXPUTNAM GOVT MMKT FND-P10.14%11,138,400$11M14
002—PHILADELPHIA GAS W 5 8/472.28%2,500,000$3M1
003—S ESTRN PA TRAN 5.25 6/521.61%1,750,000$2M1
004—ALLEGHENY HOSP DEV 4 4/441.55%2,000,000$2M1
005—PA TPK SER C CABS 0 12/381.54%3,000,000$2M1
006—PA TPK COMMISS 5.25 12/551.46%1,580,000$2M1
007—PA ECON DEV FING A 5 2/391.39%1,500,000$2M1
008—CUMBERLAND VLY SD 5 11/441.38%1,500,000$2M1
009—LEHIGH CO AUTH- 5.25 2/541.37%1,600,000$2M1
010—PA ECO DEV FIN 5.25 12/511.37%1,500,000$2M1
011—NORTH PENN SCH DT 5 3/511.37%1,500,000$2M1
012—BETHLEHEM REDEV 5.5 10/541.31%1,500,000$1M1
013—INTERBORO SD 5.5 8/631.17%1,250,000$1M1
014—LACKAWANNA CNTY P 4 11/401.16%1,500,000$1M1
015—ABINGTON HEIGHTS S 5 9/481.15%1,285,000$1M1

Showing 1–15 of 120 holdings

FTPA Performance

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

FTPA$9,867
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. FTPA $9,867. 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 FTPA. Periods over one year show the average yearly return.
PeriodFTPA
Year to date−1.3%
1 month−2.5%
3 months−4.0%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 years−2.5%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 FTPA
YearReturn barFTPA
2026 YTD−1.3%

FTPA in the news

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

FTPA 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
$0.02 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 $0.02; Dec 19, 2025 $0.02; 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 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.02
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$0.02
Dec 1, 2025Dec 4, 2025$0.02

FTPA 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.
−15.8%
28 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.

FTPA Cost

Expense ratio0.35%
  • The middle half of Other Municipal Bond funds
  • Median 0.30%

35 of the 62 Other Municipal Bond funds charge less.

FTPA costs $35.00 a year on $10,000. The median Other Municipal Bond fund costs $30.00.