Franklin Short-Term Municipal Income ETF(AMEX:FTMS)

FTMS aims for high tax-advantaged current income exempt from federal income tax by investing in US municipal bonds believed to be consistent with capital preservation. The fund targets short-term bonds that pay interest that are exempt from federal income tax, which may include investments paying interest subject to the federal AMT for individuals. The portfolio generally consists of investment grade bonds with maturities of three years or less. Municipal bonds are selected from different states and market sectors, while relying on their bond managers experience to identify opportunities and risks over different market cycles. As an actively managed ETF, the fund manager has full discretion to make buy, sell, or hold decisions at any time, considering various factors, such as risks and market conditions. Prior to Oct. 27, 2025, the fund was called Putnam Short-Term Municipal Income Fund before converting to an ETF structure, starting with $162 million in assets.