Franklin Pennsylvania Municipal Income ETF

Franklin Pennsylvania Municipal Income ETF is an actively managed fixed income ETF focused on Pennsylvania municipal bonds. The fund seeks to provide current income that is exempt from federal income tax and Pennsylvania personal income tax while emphasizing capital preservation. It primarily invests in investment-grade municipal securities with intermediate- to long-term maturities, and it may also use a smaller allocation to lower-rated municipal issues within defined credit limits. The portfolio can include general obligation bonds, revenue bonds, and other municipal instruments used to finance public projects and essential services. Franklin Pennsylvania Municipal Income ETF serves investors looking for state-specific municipal bond exposure through a liquid, exchange-traded structure, making it a specialized tool within the tax-exempt fixed income market.