Franklin New York Municipal Income ETF

Frequently Asked Questions About FTNY

What does FTNY invest in?

This fund is structured to provide investors with a substantial and consistent income stream, which is free from both federal and New York state personal income taxes. Its core objective is to maximize these tax-exempt earnings while diligently safeguarding the initial capital invested.

What is the expense ratio of FTNY?

Franklin New York Municipal Income ETF (FTNY) charges an expense ratio of 0.37%. This is the annual fee deducted from fund assets to cover management and operations.

What is FTNY's distribution yield?

FTNY's trailing-twelve-month yield is 3.44%, calculated from the sum of distributions over the past year divided by the current price.

How does FTNY's covered-call strategy work?

FTNY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

What is the duration of FTNY?

Effective duration measures FTNY's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FTNY's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of FTNY?

FTNY's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.