- Issuer
- Franklin Templeton
- Inception Date
- Oct 27, 2025
- Region
- North America (United States)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $187M
Share Price Chart
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Performance
FTMS Performance Chart
Franklin Short-Term Municipal Income ETF (FTMS) is up 1.6% since the beginning of the year. FTMS is currently trading at $10 per share.
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Returns By Period
Franklin Short-Term Municipal Income ETF
- 1D
- 0.15%
- 1M
- 0.69%
- YTD
- 1.62%
- 6M
- 1.72%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.01%
- 1M
- -2.15%
- YTD
- 7.48%
- 6M
- 6.14%
- 1Y
- 20.77%
- 3Y*
- 19.34%
- 5Y*
- 11.44%
- 10Y*
- 13.91%
FTMS Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 2025, FTMS's average daily return is +0.01%, while the average monthly return is +0.23%. At this rate, an investment would double in approximately 25.1 years.
Historically, 78% of months were positive and 22% were negative. The best month was Jan 2026 with a return of +0.8%, while the worst month was Mar 2026 at -1.1%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.
On a daily basis, FTMS closed higher 51% of trading days. The best single day was May 26, 2026 with a return of +0.3%, while the worst single day was Nov 19, 2025 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.76% | 0.66% | -1.09% | 0.47% | 0.43% | 0.39% | 1.62% | ||||||
| 2025 | -0.15% | 0.30% | 0.32% | 0.47% |
Benchmark Metrics
Franklin Short-Term Municipal Income ETF has an annualized alpha of 3.09%, beta of 0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 27, 2025.
- This ETF captured 8.68% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.44%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R2 of 0.01 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 0.01 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
- 3.09%
- Beta
- 0.01
- R²
- 0.01
- Upside Capture
- 8.68%
- Downside Capture
- -3.44%
Expense Ratio
FTMS has an expense ratio of 0.21%, which is considered low.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Franklin Short-Term Municipal Income ETF (FTMS) 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.
| FTMS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.29 | — |
| Martin ratioReturn relative to average drawdown | — | 10.09 | — |
Dividends
Dividend History
Franklin Short-Term Municipal Income ETF provided a 1.97% dividend yield over the last twelve months, with an annual payout of $0.20 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.20 | $0.06 |
Dividend yield | 1.97% | 0.57% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin Short-Term Municipal Income 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.14 | ||||||
| 2025 | $0.06 | $0.06 |
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 Short-Term Municipal Income 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 Short-Term Municipal Income ETF was 1.24%, occurring on Mar 26, 2026. Recovery took 59 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -1.24%Mar 2026 | 24d | 2mo 28d | 3mo 22dMar 2026 - Jun 2026 |
2025 pullback2025 | -0.45%Nov 2025 | 0s | 14d | 14dNov 2025 - Dec 2025 |
2025 pullback2025 | -0.25%Oct 2025 | 2d | 18d | 20dOct 2025 - Nov 2025 |
2026 pullback2026 | -0.20%Jan 2026 | 2d | 4d | 6dJan 2026 - Jan 2026 |
2026 pullback2026 | -0.20%Jan 2026 | 0s | 4d | 4dJan 2026 - Jan 2026 |
Drawdown Indicators
| FTMS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.24% | -56.78% | +55.54% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.32% | +3.32% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -10.71% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.06% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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