FTNY – Franklin New York Municipal Income ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks high a level of current income exempt from federal income tax and New York State and City personal income taxes as the investment manager believes is consistent with preservation of capital. Under normal circumstances, the fund invests so that at least 90% of the fund's income distributions are exempt from federal income tax and New York State and City personal income taxes, except during times of adverse market conditions, when more than 10% of the fund's income distributions could be subject to these taxes.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FTNY	Franklin New York Municipal Income ETF	ETF	Open			May 22, 2018	$563.81M	0.360%	Average	—	−$63.82M

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