FLMIvsJCALETF Comparison
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Franklin Dynamic Municipal Bond ETF (FLMI) and JPMorgan California Tax Free Bond ETF (JCAL) belong to the same industry segment: Municipal Bonds. FLMI's top 3 sector exposures are Municipal, Consumer Services and Healthcare. In contrast, JCAL's top sector exposures are Municipal and Sovereign. FLMI is less expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.44% for JCAL. Run a side-by-side ETF comparison of FLMI and JCAL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FLMI vs JCAL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FLMI JCAL | +1.21%+1.44% | -2.59%-0.89% | -3.16%n/a | -3.27%n/a | +15.37%n/a | +0.32%n/a |
| Flows | FLMI JCAL | +$30M+$19M | +$164M+$19M | +$1.13B- | +$1.42B- | +$2.32B- | +$2.40B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FLMI JCAL | +6.05%+4.62% | +3.83%n/a | +3.94%n/a | +3.85%n/a |
| Max drawdown | FLMI JCAL | -6.74%-5.04% | -8.90%n/a | -8.90%n/a | -16.26%n/a |
| Max drawdown duration | FLMI JCAL | 71d71d | 236dn/a | 236dn/a | 1340dn/a |
Trading data
FLMI | JCAL | |
Last sale 10/23/2026 at 1:30 PM | $23.93 | $48.35 |
| Previous close 10/22/2026 | $23.89 | $48.35 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
FLMI | JCAL | |
|---|---|---|
| Last price | $23.93 | $48.35 |
| 1D performance | +0.17% | +0.00% |
| AuM | $2.38 B | $512.35 M |
| E/R | 0.3% | 0.44% |
Characteristics
FLMI | JCAL | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 214 | 106 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 31, 2017 | June 12, 2026 |
| ESG | No | No |
Exposure
Countries
FLMI
USA
38.36%
Other
61.64%
JCAL
USA
37.65%
Other
62.35%
Sectors
FLMI
Municipal
38.03%
Other
61.97%
JCAL
Municipal
36.62%
Other
63.38%
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Diversification
FLMI
Total weight of top 15 holdings out of 15
19.5%
JCAL
Total weight of top 15 holdings out of 15
16.11%
Top 15 holdings
Data as of August 31, 2026
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.08%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.67%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.66%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.56%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.53%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.51%
US09182TGL52
1.44%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.33%
US592250EW01
1.21%
US771902HS55
1.09%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.96%
US292723DZ39
0.93%
US717901CC45
0.89%
US60637AFM99
0.85%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.80%
JCAL
US072024ZH86
2.06%
US072024C758
1.77%
US568087BK56
1.12%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.10%
California, FRN 1may2033, USD (2003A-1)
1.03%
US13063EGP51
1.03%
US91412HTJ22
1.03%
USA, Bills 0% 10sep2026, USD (182D)
1.03%
US13032U7S16
0.99%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.96%
US13013JHG40
0.83%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.80%
US13034A3Y44
0.79%
Alvord Unified School District, 0% 1aug2036, USD (2011B, 9179D)
0.79%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.78%
Frequently asked questions about FLMI and JCAL
Which ETF is bigger: FLMI or JCAL?
As of October 23, 2026, FLMI holds $2.38 B in assets under management (AUM), while JCAL manages $512.35 M.
What sectors do the FLMI and JCAL ETFs invest in?
FLMI leans toward sectors like Municipal. Meanwhile, JCAL focuses on Municipal.
What are the top holdings of the FLMI ETF and JCAL ETF?
FLMI top holdings include Black Belt Energy Gas District, 5% 1oct2035, USD (2025), Southeast Energy Authority, 5% 1nov2035, USD (2024A) and Kentucky Public Energy Authority, 5% 1may2036, USD (2025). JCAL holds in its top three: US072024ZH86, US072024C758 and US568087BK56.
Which ETF is more diversified: FLMI or JCAL?
FLMI holds 1414 securities with 19.5% of its assets in the top 15. JCAL has 306 securities and a top 15 weight of 16.11%.
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Latest news about FLMI & JCAL
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