FLCO vs. FLCB ETF Comparison

Comparison of Franklin Liberty Investment Grade Corporate ETF (FLCO) to Franklin Liberty U.S. Core Bond ETF (FLCB)

FLCO

Franklin Liberty Investment Grade Corporate ETF

FLCO Description

The fund seeks to provide a high level of current income as is consistent with prudent investing, while seeking preservation of capital, by investing at least 80% of its net assets in investment grade corporate debt securities and investments. The Fund may invest up to 40% of its net assets in foreign securities, including those in developing markets, and up to 15% of its net assets in non-U.S. dollar denominated securities.

Grade (RS Rating)

Last Trade

$21.29

Average Daily Volume

375,043

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FLCB

Franklin Liberty U.S. Core Bond ETF

FLCB Description

The investment seeks total return. Under normal market conditions, the fund invests at least 80% of its net assets in bonds of U.S. issuers, including government, corporate debt, mortgage-backed and asset-backed securities. It invests predominantly in investment grade debt securities and, under normal market conditions, is generally expected to have sector, credit and duration exposures comparable to the Bloomberg Barclays U.S. Aggregate Bond Index, the fund's benchmark index. The fund may enter into various interest rate and credit-related derivatives, principally U.S. Treasury futures, interest rate swaps and credit default swaps.

Grade (RS Rating)

Last Trade

$21.22

Average Daily Volume

656,961

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FLCO	FLCB
30 Days	-3.18%	-3.04%
60 Days	-1.31%	-1.58%
90 Days	-0.77%	-1.81%
12 Months	10.51%	8.14%

31 Overlapping Holdings

Symbol	Grade	Weight in FLCO	Weight in FLCB	Overlap
ABBV	A	0.92%	0.37%	0.37%
ACGL	F	0.61%	0.11%	0.11%
BA	F	1.38%	0.3%	0.3%
BABA	B	1.24%	0.48%	0.48%
BAC	B	2.39%	0.53%	0.53%
C	A	0.75%	0.34%	0.34%
CAF	A	1.87%	0.51%	0.51%
CARR	D	0.9%	0.32%	0.32%
CF	B	0.6%	0.35%	0.35%
CMCSA	A	0.82%	0.14%	0.14%
DLTR	F	0.46%	0.34%	0.34%
DUK	C	0.51%	0.41%	0.41%
ET	A	0.73%	0.06%	0.06%
EXC	C	1.11%	0.2%	0.2%
FDX	C	0.86%	0.14%	0.14%
FLEX	A	0.56%	0.43%	0.43%
GJS	A	1.13%	0.39%	0.39%
GPJA	D	0.63%	0.1%	0.1%
GPJA	D	0.4%	0.1%	0.1%
HCA	D	0.88%	0.07%	0.07%
LVS	B	1.81%	0.28%	0.28%
MET	C	0.61%	0.09%	0.09%
MHK	D	0.8%	0.4%	0.4%
NOC	D	0.66%	0.19%	0.19%
NOW	A	0.92%	0.33%	0.33%
PSX	F	0.35%	0.06%	0.06%
RPRX	D	0.4%	0.31%	0.31%
TAK	C	1.02%	0.34%	0.34%
VZ	D	1.64%	0.51%	0.51%
WMB	A	0.3%	0.08%	0.08%
XOM	C	0.55%	0.31%	0.31%

FLCO Overweight 22 Positions Relative to FLCB

Symbol	Grade	Weight
CI	D	0.96%
PNC	B	0.93%
AAPL	C	0.85%
AFL	D	0.79%
TFC	C	0.77%
UNH	C	0.72%
AL	B	0.68%
KR	A	0.6%
AMZN	A	0.6%
JBL	A	0.58%
JWN	C	0.57%
NWG	A	0.54%
HII	F	0.49%
AON	A	0.49%
LMT	D	0.48%
CVX	A	0.44%
ALL	C	0.38%
AZO	D	0.37%
MSFT	D	0.35%
DHI	D	0.33%
DVN	F	0.31%
STZ	F	0.29%

FLCO Underweight 12 Positions Relative to FLCB

Symbol	Grade	Weight
DGX	B	-0.42%
MO	A	-0.41%
MPLX	A	-0.39%
SCCO	B	-0.26%
RDN	F	-0.24%
KMI	B	-0.24%
VOD	D	-0.19%
NVR	D	-0.19%
CNC	D	-0.18%
EQNR	F	-0.18%
KIM	B	-0.05%
CSX	F	-0.05%