Franklin New York Municipal Income ETF

Franklin New York Municipal Income ETF is an actively managed exchange-traded fund that invests in municipal bonds issued within the state of New York. Its primary purpose is to provide investors with a high level of current income that is exempt from federal, New York State, and New York City personal income taxes, while maintaining a focus on capital preservation. The fund targets intermediate maturity municipal securities, aiming to balance income generation with moderate interest-rate risk. Managed by Franklin Advisers, Inc., this ETF employs a proprietary selection process rather than tracking a benchmark index, allowing for flexible portfolio adjustments based on market conditions and credit outlooks. As part of the fixed income asset class, it plays a specialized role in the market by catering to investors seeking tax-advantaged income and exposure to New York's municipal infrastructure sector. The fund distributes income, charges a competitive 0.35% expense ratio, and is structured to provide liquidity and transparency typical of modern ETFs.