Franklin Income Focus ETF

INCM seeks high current income by investing in a broad, multi-asset portfolio using a dynamic allocation approach that adapts to changing market conditions. The portfolio includes dividend-yielding stocks, convertible preferred securities, secured and unsecured bonds, senior floating rate loans, mortgage-backed securities, debentures, and shorter-term instruments. The fund may hold up to 30% of its assets in equity index-linked notes and up to 25% in junk bonds. It may invest up to 25% in foreign issuers. Investments in bonds may include both US and foreign corporate and government debt. In selecting investments, the fund adviser utilizes a bottom-up, value-oriented, long-term approach focusing on price relative to long-term earnings, asset value, and cash flow potential. The adviser has full discretion to buy, hold, or sell securities at any time. The fund may utilize a variety of derivatives to enhance returns, increase liquidity, gain exposure, and hedge risks.