Franklin Dynamic Municipal Bond ETF
FLMI
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- One Franklin Parkway San Mateo CA United States of America 94403
- IPO Date
- Sep 14, 2017
- CIK
- 0001655589
- Website
- franklintempleton.com
- Similar Companies
- Business
- Franklin Dynamic Municipal Bond ETF (FLMI) is an actively managed exchange-traded fund that seeks high current income exempt from federal income taxes by investing primarily in dynamic, relative-value opportunities among municipal bonds issued by U.S. states, territories, and political subdivisions; high-yield municipal bonds; variable rate demand obligations; and other tax-exempt securities. The fund employs a relative value investment approach, focusing on intermediate-term municipal bonds with durations typically between 5 and 12 years, while actively adjusting allocations to sectors such as general obligation bonds, revenue bonds, and insured municipals to optimize yield and minimize credit and interest rate risks. FLMI targets tax-sensitive investors, including high-net-worth individuals and institutions, operating exclusively within the U.S. fixed income market. Launched in 2018 by Franklin Templeton, FLMI is domiciled in the United States with its investment adviser, Franklin Advisers, Inc., headquartered in San Mateo, California. The fund is part of the broader Franklin Templeton ETF lineup, which leverages the firm's extensive municipal bond research and portfolio management expertise spanning over 50 years. In recent developments, FLMI benefited from Franklin Templeton's strategic acquisition of Putnam Investments in January 2024, enhancing its municipal bond capabilities through integrated research teams and expanded high-yield strategies; additionally, the fund adjusted its portfolio in response to 2024 Federal Reserve rate cuts by increasing exposure to longer-duration bonds to capture yield improvements.