Franklin New Jersey Municipal Income ETF

Franklin New Jersey Municipal Income ETF is an actively managed exchange-traded fund focused on providing current income that is exempt from both federal income tax and New Jersey personal income tax. Its primary purpose is to invest in a diversified portfolio of municipal bonds issued by entities within New Jersey, with a targeted approach toward preservation of capital and tax efficiency. The fund typically holds bonds with maturities of at least three years, and its credit quality allocation spans high-grade (AAA, AA, A) to investment-grade (BBB, BB) securities, aiming to maintain balanced risk while delivering predictable income. The ETF's effective duration, averaging 7.41 years, reflects its sensitivity to interest rate changes compared to the municipal bond market benchmark. With regular monthly distributions, the fund appeals to investors seeking steady, tax-advantaged income. Franklin New Jersey Municipal Income ETF plays a crucial role in the financial market by enabling residents and institutional investors to access New Jersey-specific municipal debt through a flexible, liquid vehicle, contributing to local infrastructure financing while offering transparent, professionally managed exposure to the municipal sector.