Franklin Short-Term Municipal Income ETF
Franklin Short-Term Municipal ETF (AMEX: FTMS) is an exchange-traded fund listed on NYSE Arca, trading at $9.84 (about ₹926 a unit) as of 12 Nov 2026, 4:00 PM ET. It has an expense ratio of 0.22% and holds 286 securities. Indian residents can buy FTMS through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$9.82
Today's high
$9.88
52 week low
$9.68
52 week high
$10.09
FTMS opened at $9.88, closed previously at $9.86, and has traded between $9.68 and $10.09 over the past 52 weeks.
About
The fund's core objective is to generate a substantial stream of income, which is exempt from federal taxation. This aim is pursued with a strong emphasis on safeguarding the initial investment.
Key statistics
Expense ratio
0.22%
Assets (AUM)
$266.2M
Holdings
286
NAV
$9.84
Avg. volume
253.33K
1-year price change
-1.01%
5-year price change
—
Price change excludes dividends.
Top 10 holdings
FTMS holds 286 securities in total. These 10 are 16.7% of the fund.
Where the money is invested
Sectors
Countries
How to buy FTMS from India
Indian residents can buy FTMS units through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers. Read the full guide: how to invest in FTMS from India
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 FTMS and buy
Find the fund by its ticker, FTMS, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Track holdings and download tax reports
Follow your FTMS position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Trading and taxes when buying FTMS 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
FAQs
What is the FTMS price today?
Franklin Short-Term Municipal ETF (FTMS) last traded at $9.84 on NYSE Arca, as of 12 Nov 2026, 4:00 PM ET. That is ₹926 a unit at the 12 Nov 2026 USD/INR rate.
When does FTMS trade, in Indian time?
NYSE Arca trades 8:00 pm – 2:30 am IST, so the close lands after midnight. The window shifts to 7:00 pm – 1:30 am IST when the US is on daylight time. Orders can only execute during that window.
How big is FTMS, and what does it cost to hold?
Franklin Short-Term Municipal ETF manages about $266.2M. Its expense ratio is 0.22% a year, deducted inside the fund. It launched in 2013.
What are FTMS's largest holdings?
The top three are PUTNAM GOVT MMKT FND-P (4.5%), VANGUARD SH TERM TAX-EX B (2.8%) and FRANKLIN DYNAMIC MUNICIPA (2.6%). FTMS's 10 largest positions make up 16.7% of the fund.
Does FTMS pay dividends?
Yes. FTMS 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 FTMS 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 FTMS?
Yes. You can buy FTMS by amount rather than by whole unit, and there is no minimum trade size.
How has FTMS performed?
FTMS' price is down 1.0% over the past year. These figures are price change only and exclude dividends; past performance does not guarantee future returns.