Franklin Dynamic Municipal Bond ETF
Franklin Dynamic Municipal Bond ETF (AMEX: FLMI) is an exchange-traded fund listed on NYSE Arca, trading at $23.27 (about ₹2,243 a unit) as of 5 Oct 2026, 11:06 AM ET. It has an expense ratio of 0.3% and holds 1,424 securities. Indian residents can buy FLMI through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$23.27
Today's high
$23.40
52 week low
$23.10
52 week high
$25.46
FLMI opened at $23.35, closed previously at $23.31, and has traded between $23.10 and $25.46 over the past 52 weeks.
About
The main goal of this ETF is to deliver a significant amount of ongoing income, structured in a way that these earnings are not subject to ordinary federal income taxes.
Key statistics
Expense ratio
0.3%
Assets (AUM)
$2.3B
Holdings
1,424
NAV
$23.34
Avg. volume
—
1-year price change
-5.70%
5-year price change
-12.67%
Price change excludes dividends.
Top 10 holdings
FLMI holds 1,424 securities in total. These 10 are 17.5% of the fund.
Where the money is invested
Countries
How to buy FLMI from India
Indian residents can buy FLMI units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search FLMI and buy
Find the fund by its ticker, FLMI, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in FLMI from India
Trading and taxes when buying FLMI from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the FLMI price today?
Franklin Dynamic Municipal Bond ETF (FLMI) last traded at $23.27 on NYSE Arca, as of 5 Oct 2026, 11:06 AM ET. That is ₹2,243 a unit at the 4 Oct 2026 USD/INR rate.
When does FLMI trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is FLMI, and what does it cost to hold?
Franklin Dynamic Municipal Bond ETF manages about $2.3B. Its expense ratio is 0.3% a year, deducted inside the fund. It launched in 2017.
What are FLMI's largest holdings?
The top three are KY PUB ENERGY AUTH 5 6/34 (2.8%), BLACK BELT ENERGY 5 10/35 (2.1%) and TX MUNI GAS ACQ V 5 4/36 (1.9%). FLMI's 10 largest positions make up 17.5% of the fund.
Does FLMI pay dividends?
Yes. FLMI is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on FLMI taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of FLMI?
Yes. You can buy FLMI by amount rather than by whole unit, and there is no minimum trade size.
How has FLMI performed?
FLMI's price is down 5.7% over the past year and down 12.7% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.