FLMI — Franklin Dynamic Municipal Bond ETF
Data updated: 2026-08-27
FLMI — Franklin Dynamic Municipal Bond ETF. 0.30% expense ratio · since 2017 · Intermediate Municipal Bond. Holdings, fees, performance and SEC filings.
FLMI Fund Overview
FLMI — Franklin Dynamic Municipal Bond ETF is a US ETF managed by Franklin Advisers, Inc., categorised as Intermediate Municipal Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Adviser: Franklin Advisers, Inc.
- Trust: Franklin Templeton ETF Trust
- Category: Intermediate Municipal Bond
- Minimum investment: none, traded on an exchange
- Inception date: August 31, 2017
- Exchange: NYSE Arca
- Assets under management: $2,300,153,286
- 1-year return: 8.0%
- Ticker: FLMI
- SEC CIK: 0001655589
- SEC series ID: S000057879
- Share class ID: C000187842
- CUSIP: 35473P868
- ISIN: US35473P8683
- FIGI: BBG00HLJ4L24
- LEI: 549300RTD7Q8YMBA7Q25
About FLMI
Franklin Dynamic Municipal Bond ETF (FLMI) seeks a high level of current income that is exempt from federal income taxes. It invests at least 80% of its net assets in municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and may invest in securities of any maturity across all rating categories, including below investment grade. The fund actively selects securities and seeks to maintain an average effective duration of two to eight years. Listed on NYSE Arca since August 31, 2017, FLMI costs 0.30% a year and returned 8.0% in the 12 months to June 30, 2026, based on monthly returns reported to the SEC on Form N-PORT, with 4.2% volatility.
FLMI Holdings
Top 10 holdings of Franklin Dynamic Municipal Bond ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Southeast Energy Authority (al) | 1.78% |
| Public Energy Authority of Kentucky (ky) | 1.74% |
| Public Energy Authority of Kentucky (ky) | 1.60% |
| California Community Choice Financing Authority (ca) | 1.47% |
| Tennessee Energy Acquisition Corp. (tn) | 1.42% |
| Metropolitan Pier & Exposition Authority (il) | 1.34% |
| Southeast Energy Authority (al) | 1.34% |
| Black Belt Energy Gas District (the) (al) | 1.32% |
| Black Belt Energy Gas District (the) (al) | 1.27% |
| Texas Municipal Gas Acquisition and Supply Corp. V (tx) | 1.03% |
FLMI Portfolio Allocation
Asset-class allocation of Franklin Dynamic Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.9% |
FLMI Performance
Total returns for FLMI through June 2026, from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.88% |
| 1 year | 7.99% |
| 3 years (annualised) | 5.98% |
| 5 years (annualised) | 2.22% |
FLMI Risk Information
Risk metrics for FLMI, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.16%
FLMI Costs and Fees
FLMI costs about $30 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.30%
- Gross expense ratio: 0.30%
- Portfolio turnover: 34%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FLMI Cashflows
Over the 12 months to 2026-06, Franklin Dynamic Municipal Bond ETF had net inflows of $1,528,527,598, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $191,522,472 |
| 2026-05 | $115,403,492 |
| 2026-04 | $98,244,266 |
| 2026-03 | $95,349,897 |
| 2026-02 | $132,656,601 |
| 2026-01 | $301,148,738 |
FLMI Debt Constituents
Largest debt holdings of Franklin Dynamic Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Southeast Energy Authority (al) | 1.78% |
| Public Energy Authority of Kentucky (ky) | 1.74% |
| Public Energy Authority of Kentucky (ky) | 1.60% |
| California Community Choice Financing Authority (ca) | 1.47% |
| Tennessee Energy Acquisition Corp. (tn) | 1.42% |
| Metropolitan Pier & Exposition Authority (il) | 1.34% |
| Southeast Energy Authority (al) | 1.34% |
| Black Belt Energy Gas District (the) (al) | 1.32% |
| Black Belt Energy Gas District (the) (al) | 1.27% |
| Texas Municipal Gas Acquisition and Supply Corp. V (tx) | 1.03% |
FLMI Prospectus and SEC Filings
Official Franklin Dynamic Municipal Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-27
- Prospectus (485BPOS) — filed 2025-07-28
- Prospectus (485BPOS) — filed 2024-07-26
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-06-12
- Annual census (N-CEN) — filed 2025-06-12
FLMI Service Providers
Firms that manage, distribute, hold, administer and audit Franklin Dynamic Municipal Bond ETF, as reported on SEC Form N-CEN, fiscal year ending March 31, 2026.
- Adviser: Franklin Advisers, Inc.
- Distributor: Franklin Distributors, LLC
- Custodians: State Street Bank and Trust Company and The Bank of New York Mellon
- Transfer agents: State Street Bank and Trust Company and The Bank of New York Mellon
- Administrator: Franklin Templeton Services, LLC
- Auditor: PricewaterhouseCoopers LLP
Related Funds
Other Intermediate Municipal Bond funds tracked on ABC INVEST:
FLMI: Frequently Asked Questions
What is the expense ratio of Franklin Dynamic Municipal Bond ETF (FLMI)?
FLMI has a net expense ratio of 0.30%, about $30 a year for every $10,000 invested. FLMI fees and costs
What are FLMI's top holdings?
As of June 30, 2026, FLMI held 1,337 positions. The largest are Southeast Energy Authority (al) (1.78%), Public Energy Authority of Kentucky (ky) (1.74%), Public Energy Authority of Kentucky (ky) (1.60%), California Community Choice Financing Authority (ca) (1.47%) and Tennessee Energy Acquisition Corp. (tn) (1.42%). All FLMI holdings
Can I download the full list of FLMI holdings?
Yes. The complete FLMI holdings list as of June 30, 2026 can be downloaded as a CSV file from the Holdings page: holding, ticker, FIGI, sector, country, asset type, shares, value and share of net assets, from the fund's SEC N-PORT filing. Download FLMI holdings (CSV)
How has Franklin Dynamic Municipal Bond ETF performed?
FLMI returned +8.0% over the 12 months to June 2026, +6.0% a year over 3 years and +2.2% a year over 5 years. FLMI performance and risk
How large is FLMI?
FLMI manages $2,300,153,286 (SEC N-PORT, June 2026). Investors added a net $1,528,527,598 over the past 12 months.
Who manages FLMI and when did it launch?
FLMI is managed by Franklin Advisers, Inc.. It is a series of Franklin Templeton ETF Trust. It has traded on NYSE Arca since August 31, 2017.
How does FLMI compare with similar Intermediate Municipal Bond funds?
Among 209 Intermediate Municipal Bond funds with $100,000,000+ in assets, FLMI ranks #56 of 209 on net expense ratio (0.30%) and #41 of 209 by assets. The largest is Vanguard Intermediate-Term Tax-Exempt Fund (VWIUX). Compare FLMI with VWIUX
Where can I find FLMI's prospectus and SEC filings?
FLMI's latest prospectus (485BPOS) was filed July 27, 2026 and its latest N-PORT holdings report was filed August 27, 2026. All 49 filings are linked on ABC INVEST and on SEC EDGAR (series S000057879). FLMI SEC filings
What is the CUSIP and ISIN of FLMI?
Franklin Dynamic Municipal Bond ETF (FLMI) has CUSIP 35473P868 and ISIN US35473P8683. Brokers and trading platforms use these codes to look up the fund.
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, and annual data from Form N-CEN.
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.