Franklin Multisector Income ETF

MULT aims to maximize current income by investing in a diverse mix of US and international debts. The fund uses a multisector approach that seeks to capture yield, manage risks, and respond to shifting market conditions. Security selection combines top-down macroeconomic analysis and bottom-up fundamental research, which evaluates sectors, issuers, and securities. The strategy is a total-return-oriented investment that capitalizes on the global bond universe. The fund may invest in both investment-grade and high-yield bonds, as well as emerging market debt with no maturity, duration, or currency limits. Investments include government and agency bonds, corporate bonds and loans, MBS, ABS, CLOs, and CDOs. The fund may also hold derivatives such as interest rate swaps, credit default swaps, futures, and currency contracts to manage risk, hedge, or enhance returns.