Franklin Short-Term Municipal Income ETF
FTMS
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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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
- Franklin Short-Term Municipal Income ETF (FTMS) is an actively managed exchange-traded fund that seeks as high a level of current income exempt from federal income tax as is consistent with preservation of capital by investing primarily in investment-grade U.S. municipal bonds, including general obligation bonds and revenue obligation bonds, with maturities of three years or less; the portfolio emphasizes high credit quality securities selected from various states and market sectors to minimize interest rate sensitivity while potentially including bonds subject to the federal alternative minimum tax. FTMS lists on NYSE Arca and distributes dividends monthly, benchmarking performance against the Bloomberg 3-Year Municipal Bond Index. The ETF operates within the short-term municipal bond segment, targeting income-focused investors seeking tax-advantaged yields with low duration risk. Issued by Putnam ETF Trust under the management of Franklin Advisers, Inc., with distribution by Franklin Distributors LLC, FTMS leverages Franklin Templeton's extensive municipal bond expertise as one of the largest active managers in the sector. Headquartered in Boston, Massachusetts, the fund traces its strategy roots to the Putnam Short-Term Municipal Income Fund, originally incepted on March 18, 2013. Portfolio managers include Daniel Workman, Benjamin C. Barber, James Conn, Garrett L. Hamilton, and Francisco Rivera, focusing on a national portfolio of high-quality, short-term municipal securities. In a significant strategic development approved by the Putnam Funds Board of Trustees on May 16, 2025, the Putnam Short-Term Municipal Income Fund underwent conversion to the FTMS ETF structure, enhancing accessibility through an exchange-traded format while maintaining its core investment approach. This reorganization aligns with broader industry trends toward active ETFs, enabling intraday trading and improved liquidity for investors. No major acquisitions, partnerships, or new product launches specific to FTMS have been reported beyond this structural shift, positioning the fund with approximately $165 million in assets under management as of late 2025.