Franklin New York Municipal Income ETF (FTNY)

The Franklin New York Municipal Income ETF (FTNY) is an actively managed exchange-traded fund from Franklin Templeton that seeks income exempt from federal, New York State and New York City personal income taxes.

The fund invests primarily in municipal bonds issued by New York State, New York City, other local governments and public authorities in the state, and other issuers whose interest qualifies for the same exemptions. The portfolio emphasizes investment-grade securities, with Franklin's municipal team managing credit selection 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.