Franklin Minnesota Municipal Income ETF (FTMN)

The Franklin Minnesota Municipal Income ETF (FTMN) is an actively managed exchange-traded fund from Franklin Templeton that seeks income exempt from federal income tax and Minnesota personal income tax.

The fund invests primarily in municipal bonds issued by the state of Minnesota, its local governments and public authorities, and other issuers whose interest qualifies for those exemptions. The portfolio emphasizes investment-grade debt, and Franklin's municipal team manages credit selection, maturity and duration.

Municipal bond interest may be subject to the federal alternative minimum tax for some investors, and the fund's distributions of capital gains are generally taxable. Shares trade on NYSE Arca throughout the day like a stock, while the portfolio is managed in the style of a traditional municipal bond fund.