Franklin Dynamic Municipal Bond ETF

AMEX

2017

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One Franklin Parkway,Building 970, 1st Floor,San Mateo,California,United States

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94403

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Under normal market conditions, the fund invests at least 80% of its net assets in municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax. Although the fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of the fund's net assets may be in securities that pay interest that may be subject to the federal alternative minimum tax and, although not anticipated, in securities that pay interest subject to other federal or state income taxes.