Franklin California Municipal Income ETF (FTCA)

The Franklin California Municipal Income ETF (FTCA) is an actively managed exchange-traded fund sponsored by Franklin Templeton. Its objective is to provide income that is exempt from federal income tax and California personal income tax.

The fund invests primarily in municipal bonds issued by the state of California, its cities, counties and agencies, and other issuers whose interest is exempt from both federal and California taxes. Franklin's municipal bond team selects securities based on credit research and manages the portfolio's maturity, duration and credit quality, focusing mainly on investment-grade debt.

Shares trade on NYSE Arca throughout the day, combining the intraday liquidity of an exchange-traded fund with a portfolio managed in the style of a traditional single-state municipal bond fund.