Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI)

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The chart shows the growth of an initial investment of $10,000 in Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) has returned 0.28% so far this year and 5.54% over the past 12 months.

Based on dividend-adjusted daily data since Sep 5, 2017, FLMI's average daily return is +0.01%, while the average monthly return is +0.25%. At this rate, your investment would double in approximately 23.1 years.

Historically, 62% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +5.0%, while the worst month was Mar 2020 at -5.0%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FLMI closed higher 47% of trading days. The best single day was Mar 25, 2020 with a return of +3.7%, while the worst single day was Mar 19, 2020 at -3.8%.

Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF has an annualized alpha of 2.40%, beta of 0.04, and R² of 0.03 versus S&P 500 Index. Calculated based on daily prices since September 06, 2017.

• This ETF participated in 19.64% of S&P 500 Index downside but only 16.26% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.04 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.

FLMI has an expense ratio of 0.30%, placing it in the medium range.

FLMI ranks 62 for risk / return — better than 62% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) and compare them to a chosen benchmark (S&P 500 Index).

Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF provided a 3.93% dividend yield over the last twelve months, with an annual payout of $0.97 per share.

The table displays the monthly dividend distributions for Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities 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 Intermediate Tax-Free Bond Opportunities ETF was 14.66%, occurring on Oct 25, 2022. Recovery took 442 trading sessions.

The current Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF drawdown is 2.31%.

The chart below shows the rolling one-month volatility.