Franklin U.S. Core Bond ETF
Actively managed U.S. bond ETF
As of its 2026 Q2 report, Franklin U.S. Core Bond ETF held 599 positions with $3.06B in net assets. Its ten largest holdings made up 21.6% of the fund. The FLCB share class costs 0.15% a year. Over the 12 months to May 2026, FLCB returned 5.2%, with dividends reinvested. In 2026 Q2 it added 136 new positions and exited 67.
Total return.
The fund invests at least 80% of its net assets in investment-grade bonds issued by U.S. entities, including government, corporate, mortgage-backed and asset-backed securities, with sector, credit and duration exposures generally comparable to the Bloomberg U.S. Aggregate Index. The investment manager conducts fundamental analysis to select securities, which causes the fund's exposures to vary from the benchmark. Because investment decisions rest on the manager's own analysis rather than index replication, the fund's returns may diverge from those of its benchmark index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.25% · due 2027-06-30 | 3.16% | $96.66M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 4.13% · due 2033-04-30 | 3.04% | $92.94M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.50% · due 2056-08-15 | 2.73% | $83.59M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 6.00% · due 2056-08-15 | 2.13% | $65.02M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 1.38% · due 2028-12-31 | 2.04% | $62.51M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.00% · due 2056-08-15 | 2.04% | $62.45M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 4.13% · due 2028-07-31 | 1.93% | $59.06M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.50% · due 2056-08-15 | 1.64% | $50.29M | — |
INFXXINSTITUTIONAL FIDUCIARY TRUST | 1.58% | $48.31M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.50% · due 2056-08-15 | 1.34% | $40.95M | — |
The 200 largest of 599 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 63.63% |
| Securitized | 45.75% |
| Cash & short-term | 3.92% |
| Stocks | 0.40% |
These positions come to 113.71% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
By sector
- Securitized
- 40.2%
- Government
- 29.0%
- Other
- 6.7%
- Financials
- 4.7%
- 12 other sectors
- 19.4%
- Securitized
- 40.2%
- Government
- 29.0%
- Other
- 6.7%
- Financials
- 4.7%
- Utilities
- 3.6%
- Cash
- 3.5%
- International
- 3.4%
- Health Care
- 1.7%
- Information Technology
- 1.7%
- Consumer Discretionary
- 1.2%
- Communication Services
- 1.2%
- Industrials
- 0.9%
- Consumer Staples
- 0.9%
- Energy
- 0.7%
- Real Estate
- 0.4%
- Materials
- 0.3%
How it has done
FLCB share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.28%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
Franklin U.S. Core Bond ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.15%· FLCB 0.15%
- Portfolio turnover
- 35.11% a year · as of 2025 Q3
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
136 new· the largest 2
67 exited· the largest 4
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 86.9% |
| Floating rate | 13.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.9% |
| 1-3y | 10.7% |
| 3-5y | 12.3% |
| 5-10y | 20.4% |
| 10y+ | 52.7% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 60% |
| Credit spreads | 40% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.76 yr |
| High yield | +0.07 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.62 yr | 11% |
| 5 yr | 1.65 yr | 29% |
| 10 yr | 2.26 yr | 39% |
| 30 yr | 1.21 yr | 21% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.40 yr | 11% |
| 5 yr | 2.52 yr | 66% |
| 10 yr | 0.87 yr | 23% |
| 30 yr | 0.03 yr | 1% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.01 | +0.00 | $1.7k | $0 |
| 1 yr | +0.62 | +0.40 | +0.01 | $121.1k | $2.4k |
| 5 yr | +1.65 | +2.48 | +0.04 | $759.0k | $11.8k |
| 10 yr | +2.26 | +0.85 | +0.02 | $260.6k | $6.2k |
| 30 yr | +1.21 | +0.03 | +0.00 | $7.8k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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