FLCB vs. FLUD ETF Comparison

Comparison of Franklin Liberty U.S. Core Bond ETF (FLCB) to Franklin Liberty Ultra Short Bond ETF (FLUD)

FLCB

Franklin Liberty U.S. Core Bond ETF

FLCB Description

The investment seeks total return. Under normal market conditions, the fund invests at least 80% of its net assets in bonds of U.S. issuers, including government, corporate debt, mortgage-backed and asset-backed securities. It invests predominantly in investment grade debt securities and, under normal market conditions, is generally expected to have sector, credit and duration exposures comparable to the Bloomberg Barclays U.S. Aggregate Bond Index, the fund's benchmark index. The fund may enter into various interest rate and credit-related derivatives, principally U.S. Treasury futures, interest rate swaps and credit default swaps.

Grade (RS Rating)

Last Trade

$21.32

Average Daily Volume

659,305

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FLUD

Franklin Liberty Ultra Short Bond ETF

FLUD Description

The investment seeks a high level of current income as is consistent with prudent investing, while seeking preservation of capital. Under normal market conditions, the fund invests at least 80% of its net assets in bonds and investments that provide exposure to bonds. It targets an estimated average portfolio duration of one (1) year or less. The fund invests predominantly in U.S. dollar denominated, investment grade debt securities and investments. It may invest in U.S. dollar denominated foreign securities, including emerging market securities.

Grade (RS Rating)

Last Trade

$24.84

Average Daily Volume

2,562

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FLCB	FLUD
30 Days	-1.47%	0.37%
60 Days	-2.43%	0.83%
90 Days	-0.66%	1.26%
12 Months	8.07%	3.79%

9 Overlapping Holdings

Symbol	Grade	Weight in FLCB	Weight in FLUD	Overlap
ABBV	A	0.37%	1.35%	0.37%
BA	D	0.3%	2.69%	0.3%
BAC	B	0.53%	1.35%	0.53%
C	B	0.34%	4.06%	0.34%
CAF	A	0.51%	4.02%	0.51%
ET	A	0.06%	1.38%	0.06%
GJS	A	0.39%	4.04%	0.39%
KMI	B	0.24%	1.45%	0.24%
RPRX	D	0.31%	1.34%	0.31%

FLCB Overweight 33 Positions Relative to FLUD

Symbol	Grade	Weight
VZ	D	0.51%
BABA	B	0.48%
FLEX	A	0.43%
DGX	B	0.42%
DUK	C	0.41%
MO	A	0.41%
MHK	D	0.4%
MPLX	A	0.39%
CF	B	0.35%
TAK	C	0.34%
DLTR	F	0.34%
NOW	A	0.33%
CARR	D	0.32%
XOM	A	0.31%
LVS	B	0.28%
SCCO	B	0.26%
RDN	D	0.24%
EXC	C	0.2%
NOC	D	0.19%
VOD	D	0.19%
NVR	D	0.19%
CNC	D	0.18%
EQNR	F	0.18%
CMCSA	A	0.14%
FDX	D	0.14%
ACGL	F	0.11%
GPJA	D	0.1%
MET	C	0.09%
WMB	A	0.08%
HCA	D	0.07%
PSX	F	0.06%
KIM	A	0.05%
CSX	F	0.05%

FLCB Underweight 11 Positions Relative to FLUD

Symbol	Grade	Weight
DD	D	-4.1%
GE	D	-4.08%
AZN	F	-4.07%
EBAY	D	-4.06%
MCHP	F	-3.98%
BIIB	F	-2.75%
TMO	F	-2.69%
HRL	F	-2.67%
COF	A	-1.38%
CM	A	-1.35%
BMO	B	-1.35%