Putnam ETF Trust - Franklin Ohio Municipal Income ETF
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- Putnam ETF Trust—Franklin Ohio Municipal Income ETF is an actively managed, NYSE Arca-listed exchange-traded fund that seeks a high level of current income exempt from U.S. federal income tax and Ohio personal income tax, consistent with preservation of capital. The fund principally invests in investment-grade, tax-exempt municipal debt securities issued by or for U.S. states, territories and possessions, and their political subdivisions, agencies, authorities and other governmental entities, with an emphasis on Ohio-related issuers; eligible investments include general-obligation bonds, revenue bonds and tender-option bonds with intermediate- to long-term maturities of three years or more. It normally invests at least 80% of net assets in tax-exempt investments and may invest up to 25% of total assets in below-investment-grade securities rated no lower than BB or equivalent, or comparable unrated securities. The portfolio provides exposure to municipal-finance sectors including health care, local-government, education, utilities and housing, and is benchmarked against the Bloomberg Municipal Bond Index. Fund shares trade intraday in the secondary market under the ticker FTOH, while creation and redemption activity is conducted through authorized participants. Franklin Advisers, Inc. serves as investment manager; Putnam Investment Management, LLC and Franklin Templeton Investment Management Limited serve as sub-advisers. The fund traces its inception to October 23, 1989 and is sponsored through Putnam ETF Trust, which is headquartered at 100 Federal Street, Boston, Massachusetts. Effective November 7, 2025, the former Putnam Ohio Tax Exempt Income Fund reorganized into the Franklin Ohio Municipal Income ETF; the ETF commenced operations and listed on NYSE Arca on November 10, 2025, acquiring the predecessor fund’s assets and liabilities and adopting its Class R6 performance and financial history.