Franklin Municipal Income ETF (FTMU)

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

The fund invests primarily in a diversified, nationwide portfolio of municipal bonds issued by states, cities, counties and public agencies. It focuses mainly on investment-grade securities across a range of maturities, with Franklin's municipal research team handling credit selection, sector allocation and duration management.

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.