ATLASFranklin Dynamic Municipal Bond ETF (FLMI): outlook, holdings and fees
Franklin Dynamic Municipal Bond ETF (FLMI) is an exchange-traded fund and is managed by Franklin Templeton, Inc. The expense ratio is 0.31% and the yield is 4.23%. The ten largest holdings are 17% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on FLMI
| Last price | $24.11 (-0.2%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 65% |
| Likely 1-month range (50%) | $23.99 – $24.50 |
| Normal 1-day range (±1σ) | ±0.4% |
| Distribution yield | 4.23% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
FLMI fund facts
| Issuer | Franklin Templeton, Inc |
|---|---|
| Theme | Municipal bonds |
| Assets under management | $2.3B |
| Expense ratio | 0.31% |
| Number of holdings | 10 |
| Portfolio turnover | 61% |
| Inception | Aug 31, 2017 |
| Exchange | NYSE |
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.
FLMI top holdings
| Holding | Sector | Weight |
|---|---|---|
| CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV 0.375% | – | 2.66% |
| LA JOYA TEX INDPT SCH DIST 5% | – | 2.04% |
| LOWER COLO RIV AUTH TEX REV 5% | – | 1.71% |
| ILLINOIS ST SALES TAX REV 4% | – | 1.58% |
| TENNESSEE ENERGY ACQUISITION CORP COMMODITY PROJ REV 5% | – | 1.56% |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV 5% | – | 1.67% |
| LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST SWR & DRAIN SYS REV 4% | – | 1.63% |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV 4% | – | 1.59% |
| NEW JERSEY ST 4% | – | 1.58% |
| FLORIDA DEV FIN CORP HEALTHCARE FACS REV 5% | – | 1.46% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
FLMI returns and risk
| Year to date | -3.6% |
|---|---|
| 1 year | -1.9% |
| 3 years (annualised) | +4.7% |
| 5 years (annualised) | +1.0% |
| 10 years (annualised) | 0.0% |
| Volatility (3 years) | 5.6% |
| Sharpe ratio (3 years) | 0.03 |
Past returns do not guarantee future results.
FLMI: frequently asked questions
What does FLMI invest in?
Franklin Dynamic Municipal Bond ETF invests in a portfolio of securities. Its largest holdings are CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV 0.375% (2.7%), LA JOYA TEX INDPT SCH DIST 5% (2.0%), LOWER COLO RIV AUTH TEX REV 5% (1.7%), ILLINOIS ST SALES TAX REV 4% (1.6%), TENNESSEE ENERGY ACQUISITION CORP COMMODITY PROJ REV 5% (1.6%).
What is the FLMI expense ratio?
0.31% a year: about $31.00 for every $10,000 invested.
What is the FLMI dividend yield?
4.23%. ATLAS does not hold the exact distribution dates for ETFs.
Will FLMI go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 65%, with a likely range (50%) of $23.99 to $24.50 from $24.11 today. It is a probability, not a prediction.
How has FLMI performed?
Year to date -3.6%, one year -1.9%, three years +4.7% a year, five years +1.0% a year. Past returns do not guarantee future results.
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Educational information, not investment advice. Disclaimer