Franklin Municipal High Yield ETF
FTMH
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
- Oct 24, 2025
- Website
- putnam.com
- Similar Companies
- Business
- Putnam ETF Trust - Putnam Franklin Municipal High Yield ETF (FTMH) is an actively managed exchange-traded fund that seeks a high level of current income exempt from federal income tax, with a secondary objective of capital preservation, by investing principally in higher-yielding municipal bonds rated below investment grade (junk bonds) and investment-grade securities with intermediate- to long-term maturities of three years or longer; under normal circumstances, the fund invests at least 80% of its net assets in such tax-exempt bonds, including general obligation bonds, revenue bonds, and tender option bonds that may be subject to the federal alternative minimum tax. The ETF offers monthly distributions, with a recent 30-day SEC yield of approximately 4.72%-4.73% and total net assets of around $543.52 million as of late 2025, holding approximately 458 securities with an effective duration of 7.79 years and average weighted maturity of 21.14 years; it trades on NYSE Arca and benchmarks against the Bloomberg Municipal Bond Index. FTMH targets individual and institutional investors seeking tax-advantaged fixed income exposure, with a focus on risk-managed selection of municipal bonds via fundamental research, leveraging the expertise of Franklin Templeton's municipal bond team, one of the largest active managers in the sector. The fund operates within the U.S. municipal bond market segment of the broader fixed income industry. Putnam ETF Trust, organized as part of Putnam Investments (founded in 1937 and headquartered in Boston, Massachusetts), was acquired by Franklin Resources, Inc. (operating as Franklin Templeton) in January 2024, integrating Putnam's ETF offerings into Franklin Templeton's platform, which now manages over 70 U.S. ETFs with approximately $32 billion in assets; this acquisition facilitated the rebranding and management transition of FTMH to Franklin Advisers, Inc. under the Franklin Templeton umbrella. In May 2025, Franklin Templeton announced plans to convert 10 legacy Putnam municipal bond mutual funds—including the Putnam Tax-Free High Yield Fund—into ETFs between Q4 2025 and Q1 2026, expanding its municipal ETF lineup and enhancing cost-efficiency, transparency, and intraday trading for these tax-exempt income strategies amid growing investor demand. These strategic shifts underscore Franklin Templeton's commitment to modernizing active fixed income products through the ETF structure, building on Putnam's prior launches of actively managed ETFs in fixed income and other asset classes since 2023.