Franklin U.S. Treasury Bond ETF FLGV

On April 17, 2026, Franklin Templeton announced several portfolio manager departures as part of a series of voluntary retirement offers extended to eligible employees in February 2026. Franklin fixed-income veteran Warren Keyser is among those departing. Keyser joined the firm in 1986 and managed Franklin U.S. Treasury Bond ETF since its inception in 2020. Comanagers Patrick Klein and Michael Salm, while less involved here, will remain on the portfolio roster, and the firm added Jesse Hurwitz to backfill Keyser’s day-to-day duties on this strategy. Hurwitz arrived at the firm in 2024 through the Putnam acquisition and has industry experience dating back to 2014, with a background in macroeconomics and rates trading. While he has worked closely with Keyser in recent years, most notably by contributing Treasury Inflation-protected security recommendations, Hurwitz has a limited public track record. The move represents Franklin’s continued efforts to rightsize investment teams, particularly those that have undergone changes amid the firm’s various acquisitions over the past several years, and it will likely create opportunities for the next generation of leaders across the business. These changes do not alter the strategy’s Average People or Process ratings or overall Morningstar Medalist Ratings.