FTMN

Franklin Minnesota Municipal Income ETF seeks as high a level of current income exempt from federal income tax and Minnesota personal income tax as the adviser believes is consistent with preservation of capital. The fund invests mainly in bonds that pay interest that is exempt from federal income tax and Minnesota personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (i.e., three years or longer). It invests at least 80% of the fund's net assets in tax-exempt investments.