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Putnam ETF Trust - Franklin Minnesota Municipal Income (FTMN) ETF Holdings & Analysis
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What FTMN does
FTMN aims for a high level of current income exempt from federal income tax and Minnesota personal income tax believed to be consistent with capital preservation. The fund invests mainly in investment grade municipal bonds with intermediate- to long-term maturities (three years or longer). Investments may include general obligation bonds, revenue obligation bonds, and tender option bonds. The fund targets at least 80% tax-exempt investments issued by the US government and its agencies. Interest income from private activity bonds may be subject to federal AMT for individuals. The fund may invest up to 25% in junk bonds but limits this exposure by avoiding bonds rated lower than BB. FTMN considers various factors, such as credit, interest rate, and prepayment risks, as well as general market conditions. Prior to Nov. 10, 2025, the fund was called Putnam Minnesota Tax Exempt Income Fund before converting to an actively managed ETF structure, starting with $165.01 million.
Fund profile
Top holdings
| Holding | Weight | |
|---|---|---|
| MN MUNI GAS AGY-A 5 9/35 | 3.08% | |
| ST CLOUD-REF-REV 5 5/54 | 2.81% | |
| ROCHESTER-SER D FRN 11/64 | 2.29% | |
| WAYZATA ISD#284-B 5 2/39 | 2.04% | |
| ROCHESTER PUB ISD# 4 2/37 | 1.77% | |
| RESTRUCTURED-S 4.329 7/40 | 1.69% | |
| MINNEAPOLIS 4 12/37 | 1.57% | |
| MINNEAPOLIS 4 12/38 | 1.56% | |
| MN HGR EDU FACS A 4 10/46 | 1.55% | |
| MINNEAPOLIS -REV 4 11/40 | 1.47% |
Sector allocation
| Municipal | 99.73% |
| Cash & Others | 0.27% |
Geographic allocation
| United States | 97.55% |
| Puerto Rico | 1.90% |
| Guam | 0.55% |
| Other | — |
PortView Portfolio Insights
PortView analyzes how FTMN fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.
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Frequently asked questions
- What does FTMN track?
- FTMN is the Putnam ETF Trust - Franklin Minnesota Municipal Income ETF, a Other ETF.
- What is the expense ratio of FTMN?
- Expense ratio data for FTMN is shown on the page when available from our data provider.
- What are the largest holdings in FTMN?
- Top holdings include MN MUNI GAS AGY-A 5 9/35, ST CLOUD-REF-REV 5 5/54, ROCHESTER-SER D FRN 11/64, WAYZATA ISD#284-B 5 2/39, ROCHESTER PUB ISD# 4 2/37.
- How can PortView analyze FTMN overlap with other ETFs?
- PortView computes the holdings overlap between FTMN and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.
The information provided by PortView is for informational and educational purposes only and does not constitute investment advice. Market data may be delayed. Past performance does not guarantee future results.