Franklin New Jersey Municipal Income ETF (FTNJ)

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

The fund invests primarily in municipal bonds issued by the state of New Jersey, its municipalities and authorities, and other issuers whose interest qualifies for those exemptions. Franklin's municipal team manages credit quality, maturity and duration through fundamental research, with an emphasis on investment-grade debt.

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.