- Issuer
- Franklin Templeton
- Inception Date
- Aug 31, 2017
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $75M
Highlights
- Avg. Volume (1M)
- 8K
- Avg. Volume Value (1M)
- $195.54K
Share Price Chart
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Performance
FLMB Performance Chart
Franklin Liberty Federal Tax-Free Bond ETF (FLMB) is up 0.4% since the beginning of the year. FLMB is currently trading at $23 per share. Investors who bought $1,000 worth of FLMB shares 5 years ago would now be looking at an investment worth $1,005.
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Compare this symbol against anything
Returns By Period
Franklin Liberty Federal Tax-Free Bond ETF (FLMB) has returned 0.38% so far this year and 6.30% over the past 12 months.
Franklin Liberty Federal Tax-Free Bond ETF
- 1D
- -0.19%
- 1M
- -2.17%
- 6M
- -0.12%
- YTD
- 0.38%
- 1Y
- 6.30%
- 3Y*
- 3.54%
- 5Y*
- 0.10%
- 10Y*
- —
- ALL TIME*
- 2.12%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FLMB Monthly Returns History
Based on dividend-adjusted daily data since Sep 5, 2017, FLMB's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +7.7%, while the worst month was Sep 2022 at -4.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FLMB closed higher 46% of trading days. The best single day was Mar 25, 2020 with a return of +5.6%, while the worst single day was Mar 12, 2020 at -4.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.50% | 1.84% | -2.56% | 1.43% | 0.52% | 0.86% | -2.13% | 0.38% | |||||
| 2025 | -0.07% | 1.46% | -2.09% | -1.11% | -0.46% | 0.84% | -1.13% | 1.12% | 3.59% | 1.50% | 0.30% | 0.04% | 3.93% |
| 2024 | 0.15% | -0.14% | -0.26% | -0.79% | 0.00% | 1.64% | 1.46% | 0.06% | 1.79% | -1.45% | 1.71% | -1.65% | 2.47% |
| 2023 | 4.16% | -3.01% | 2.44% | 0.23% | -0.92% | 1.05% | 0.12% | -1.62% | -2.99% | -2.12% | 7.70% | 2.99% | 7.72% |
| 2022 | -3.22% | -0.68% | -3.78% | -3.72% | 1.12% | -2.43% | 3.41% | -3.08% | -4.81% | -0.87% | 6.15% | -0.39% | -12.16% |
| 2021 | 0.71% | -2.94% | 0.85% | 1.09% | 0.40% | 0.38% | 1.03% | -0.43% | -1.00% | -0.39% | 0.97% | 0.21% | 0.80% |
Benchmark Metrics
Franklin Liberty Federal Tax-Free Bond ETF has an annualized alpha of 1.51%, beta of 0.05, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since September 05, 2017.
- This ETF participated in 25.88% of S&P 500 Index downside but only 16.22% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.03 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.03 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.51%
- Beta
- 0.05
- R²
- 0.03
- Upside Capture
- 16.22%
- Downside Capture
- 25.88%
Expense Ratio
FLMB has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FLMB ranks 77 for risk / return — above 77% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Franklin Liberty Federal Tax-Free Bond ETF (FLMB) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLMB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.25 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 2.00 | +0.19 |
| Martin ratioReturn relative to average drawdown | 7.56 | 8.49 | -0.94 |
Dividends
Dividend History
Franklin Liberty Federal Tax-Free Bond ETF provided a 3.72% dividend yield over the last twelve months, with an annual payout of $0.87 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.87 | $0.92 | $0.90 | $0.84 | $0.65 | $0.45 | $0.57 | $0.62 | $0.66 | $0.14 |
Dividend yield | 3.72% | 3.86% | 3.79% | 3.49% | 2.80% | 1.66% | 2.07% | 2.40% | 2.68% | 0.54% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Liberty Federal Tax-Free Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.06 | $0.05 | $0.05 | $0.08 | $0.10 | $0.14 | $0.48 | |||||
| 2025 | $0.00 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.07 | $0.09 | $0.08 | $0.07 | $0.09 | $0.15 | $0.92 |
| 2024 | $0.00 | $0.08 | $0.07 | $0.07 | $0.08 | $0.08 | $0.07 | $0.08 | $0.07 | $0.07 | $0.08 | $0.15 | $0.90 |
| 2023 | $0.00 | $0.06 | $0.06 | $0.08 | $0.06 | $0.08 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.15 | $0.84 |
| 2022 | $0.00 | $0.08 | $0.04 | $0.06 | $0.04 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.10 | $0.65 |
| 2021 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.04 | $0.45 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Franklin Liberty Federal Tax-Free Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Franklin Liberty Federal Tax-Free Bond ETF was 17.90%, occurring on Oct 26, 2022. Recovery took 799 trading sessions.
The current Franklin Liberty Federal Tax-Free Bond ETF drawdown is 2.26%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-17.90%Oct 2022 | 1y 3mo | 3y 2mo | 4y 5moJul 2021 - Jan 2026 | Bear market2022 |
-13.94%Mar 2020 | 10d | 4mo 4d | 4mo 14dMar 2020 - Jul 2020 | COVID crash2020 |
-4.08%Oct 2018 | 10mo 26d | 2mo 6d | 1y 27dDec 2017 - Jan 2019 | Rate-hike selloffLate 2018 |
-3.52%Feb 2021 | 14d | 4mo 12d | 4mo 26dFeb 2021 - Jul 2021 | — |
-3.25%Mar 2026 | 25d | 3mo 4d | 3mo 29dMar 2026 - Jun 2026 | — |
Drawdown Indicators
| FLMB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -56.78% | +38.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -9.10% | +5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -6.44% | -18.90% | +12.46% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -25.43% | +7.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.26% | -1.58% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -10.70% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 2.14% | -1.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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