DIVI

Franklin International Core Dividend Tilt Index ETF seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Morningstar Developed Markets ex-North America Dividend Enhanced Select IndexSM. The fund invests at least 80% of its assets in the component securities of the index and in depositary receipts representing such securities. The index is based on the Morningstar Developed Markets ex-North America Target Market Exposure Index and is constructed by applying an optimization process to the Parent Index that aims to deliver a higher dividend yield than the Parent Index, while limiting expected tracking error to the Parent Index.