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Franklin Dynamic Municipal Bond ETF

FLMI

Market cap $2.3B

23.27 USD

+0.12

0.52%

At close Updated Oct 9, 4:00 PM EDT

1 day

0.52%

5 days

-0.34%

1 month

-3.36%

3 months

-6.88%

6 months

-6.73%

Year to date

-6.51%

1 year

-5.79%

5 years

-12.39%

10 years

-6.96%

News

Positive

Neutral

Negative

Sentiment 3-Months

Positive 50%

Neutral 50%

Negative 0%

What Midterm Elections Do – & Don't – Mean for Bonds

Midterm elections are increasingly taking over the headlines, and that includes coverage of markets. While inflation, rates, and geopolitics probably have more outright impact on portfolios, investors and market watchers still look to midterm elections as a major event.

What Midterm Elections Do – & Don't – Mean for Bonds

Adding Municipals? 3 Muni ETFs That Have Led Over 3 Years

Municipal bonds have seen an uptick in interest as more investors look to reduce tax exposures. Economic headwinds are putting pressure on overall portfolios, while shifting yield pictures are seeing portfolios refresh their debt holdings.

Adding Municipals? 3 Muni ETFs That Have Led Over 3 Years

FLMI: Not Too Much Signs Of Stress, But Inflation Coming Back

Franklin Dynamic Municipal Bond ETF (FLMI) faces headwinds from rising yields and inflation expectations, especially due to the Iran War's impact on energy prices. FLMI's 7-year duration heightens sensitivity to upward yield curve shifts, making it less attractive versus cash or ultra-short duration fixed income. The ETF's 0.3% expense ratio is good compared to active alternatives, but significantly more than passive, though there is historical outperformance on FLMI.

FLMI: Not Too Much Signs Of Stress, But Inflation Coming Back

NewYear Barron's Pro-Picks: 2 IDEAL January DiviDogs

Barron's NewYear 2026 Roundtable highlights 74 select stocks, emphasizing high-yield 'dogcatcher' analysis for dividend-focused investors. Annaly Capital Management and Rogers Communications stand out as 'safer' dividend dogcatcher ideal candidates based on free cash flow coverage. Top ten Barron's Pro Picks offer projected average net gains of 22.45% by January 2027, with risk/volatility 26% below the market average.

NewYear Barron's Pro-Picks: 2 IDEAL January DiviDogs

FLMI: High-Quality Muni Bond ETF, Solid Tax-Advantaged Yield, Outperformance Since Inception

The Franklin Dynamic Municipal Bond ETF is an active muni bond ETF. It focuses on investment-grade munis, with a tax-advantaged 3.9% dividend yield. Before-tax income is competitive, after-tax income should be above-average for most investors in taxable accounts.

FLMI: High-Quality Muni Bond ETF, Solid Tax-Advantaged Yield, Outperformance Since Inception

FLMI: Perfectly Sensible, Just Produces A Meagre Income

Franklin Dynamic Municipal Bond ETF offers diversified muni bond exposure but delivers an unimpressive 3.51% trailing yield. FLMI's strategy favors middle-to-short tenor and moderate credit risk, resulting in lower interest rate risk but only middling income. I believe more selective muni funds or those taking additional credit risk—without materially higher default risk—offer superior yields.

FLMI: Perfectly Sensible, Just Produces A Meagre Income

FLMI: Credit Spreads Historically Low

Credit spreads are at historically tight levels, which puts us off credit bets in fixed income. Munis may have relative value based on relative movements between their yields and Treasuries. It's unclear how much the possibility of short-term rate cuts will help this ETF, as its long maturity bonds are priced based on more structural factors.

FLMI: Credit Spreads Historically Low

45 Barron's 2025 Mid-Year Pro-Picks: 3 Ideal July DiviDogs

I analyze Barron's Mid-Year 2025 Roundtable Pro Picks using the yield-based 'dogcatcher' method to identify high-yield, safer dividend stocks. AT&T, Tegna, and Pitney Bowes stand out as 'safer' dividend dogs, with prices below annual dividends from $1,000 invested, signaling attractive entry points. The top ten high-yield picks offer projected 24.3% average net gains by July 2026, with lower-than-market volatility, but some face negative free cash flow margins.

45 Barron's 2025 Mid-Year Pro-Picks: 3 Ideal July DiviDogs

35 Barron's Pro-Picks: One Ideal May DiviDog

Barron's interviewed eleven financial industry Roundtable-pros who tapped 65 predictions. Six non-ADR foreign-stocks and four mutual funds were dropped by YCharts screens of active US listings, leaving 55. AT&T stands out as the only 'safer' ideal dividend dog, with its price well below annual dividends from a $1,000 investment. Top ten yield picks project average 28.12% total return by May 2026, with risk/volatility 12% below the market average.

35 Barron's Pro-Picks: One Ideal May DiviDog

Four High-Yield Muni ETFs, For Investors In Taxable Accounts

High-yield muni ETFs focus on investment-grade municipal bonds, leaning into those with weaker ratings. Dividend yields are good, in the 4.0% - 5.0%, tax-exempt, and provide higher after-tax income, making them attractive for taxable accounts and high-tax-rate investors. A quick look at four particularly good, high-yielding muni ETFs follows.

Four High-Yield Muni ETFs, For Investors In Taxable Accounts

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