FLMI Fees and Costs — Franklin Dynamic Municipal Bond ETF
Data updated: 2026-08-27
The net expense ratio is 0.30%. There are no sales loads or redemption fees. Portfolio turnover was 34%.
FLMI Fees and Expenses
Annual operating expenses and sales charges of FLMI. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.30% |
| Fee waiver | — |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FLMI Costs Over Time
On $10,000 invested in FLMI, assuming 5% a year before costs, total costs come to $190 over 5 years, cutting the return by 0.31% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.30%) | $32 | $99 | $173 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $190 |
| Value after costs | $10,468 | $11,472 | $12,573 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
FLMI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
FLMI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $531.5M | 36.27% |
| WELLS FARGO SECURITIES, LLC | $163.2M | 11.14% |
| RBC CAPITAL MARKETS, LLC | $142.7M | 9.74% |
| MORGAN STANLEY & CO. LLC | $140.9M | 9.61% |
| BOFA SECURITIES, INC. | $94.7M | 6.46% |
| BNY MELLON CAPITAL MARKETS, LLC | $94.5M | 6.45% |
| JEFFERIES LLC | $83.7M | 5.71% |
| TRUIST SECURITIES, INC. | $77.6M | 5.30% |
| FMSBONDS, INC. | $71.0M | 4.84% |
| PIPER SANDLER & CO. | $65.7M | 4.48% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.