PSQAvsFTMNETF Comparison
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Palmer Square CLO Senior Debt ETF (PSQA) and Franklin Minnesota Municipal Income ETF (FTMN) have similar underlying exposures to countries and sectors. PSQA's top 1 sector exposures are Industrials. In contrast, FTMN's top sector exposures are Municipal. PSQA is less expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.35% for FTMN. PSQA is up 3.4% year-to-date (YTD) with +$136M in YTD flows. FTMN performs worse with -2.55% YTD performance, and +$122M in YTD flows. Run a side-by-side ETF comparison of PSQA and FTMN 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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PSQA vs FTMN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQA FTMN | +0.43%-1.22% | +1.23%-3.29% | +3.40%-2.55% | +5.21%n/a | n/an/a | n/an/a |
| Flows | PSQA FTMN | +$32M+$99M | +$70M+$97M | +$136M+$122M | +$166M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQA FTMN | +0.22%+3.48% | +0.45%n/a | n/an/a | n/an/a |
| Max drawdown | PSQA FTMN | n/a-3.90% | -0.24%n/a | n/an/a | n/an/a |
| Max drawdown duration | PSQA FTMN | n/a65d | 20dn/a | n/an/a | n/an/a |
Trading data
PSQA | FTMN | |
Last sale 9/4/2026 at 1:30 PM | $20.70 | $8.56 |
| Previous close 09/03/2026 | $20.70 | $8.57 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FTMN
is actively managed and doesn’t replicate an indexPSQA | FTMN | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
PSQA | FTMN | |
|---|---|---|
| Last price | $20.70 | $8.56 |
| 1D performance | -0.02% | -0.18% |
| AuM | $209.61 M | $288.03 M |
| E/R | 0.21% | 0.35% |
Characteristics
PSQA | FTMN | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Palmer Square | Franklin Templeton |
| Benchmark | Palmer Square CLO Senior Debt Index | - |
| N° of holdings | 18 | 24 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | November 10, 2025 |
| ESG | No | No |
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Exposure
Countries
PSQA
USA
16.83%
Other
83.17%
FTMN
USA
15.9%
Other
84.1%
Sectors
PSQA
Industrials
16.83%
Other
83.17%
FTMN
Municipal
15.9%
Other
84.1%
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Diversification
PSQA
Total weight of top 15 holdings out of 15
24.88%
FTMN
Total weight of top 15 holdings out of 15
26.6%
Top 15 holdings
Data as of July 31, 2026
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.38%
US75884YAK47
2.26%
US12553DAS62
1.70%
US03768UAG40
1.70%
US64132TAU79
1.70%
US74971CAU71
1.70%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.70%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.70%
US75884EAN22
1.70%
US675949AQ45
1.56%
US67402CBU99
1.42%
US03990HAA68
1.41%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.41%
Octagon Investment Partners 2019-1A, FRN 22jan2035, USD (ABS, A1R)
1.30%
US381929AN88
1.26%
FTMN
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
2.72%
US60416JDA51
2.47%
Minneapolis, 4% 15nov2040, USD
2.23%
US604140XU23
1.97%
US603767PE84
1.86%
US958697KL75
1.85%
US0363034T98
1.71%
US604140XV06
1.69%
US425507LC26
1.66%
US425533CN48
1.64%
US819190VY24
1.54%
US60416JHN37
1.49%
Minnesota Agricultural and Economic Development Board, 5.25% 1jan2054, USD (2024)
1.33%
US852297DB34
1.22%
Minneapolis, 5% 15nov2034, USD
1.20%
Frequently asked questions about PSQA and FTMN
How have the PSQA and FTMN ETFs performed in 2026?
As of September 3, 2026, PSQA is up 3.4% year-to-date (YTD), while FTMN has lost -2.55%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: PSQA or FTMN?
Year-to-date, the PSQA ETF saw +$136M in flows, compared to +$122M for FTMN.
Which ETF is bigger: PSQA or FTMN?
As of September 3, 2026, PSQA holds $209.61 M in assets under management (AUM), while FTMN manages $288.03 M.
What sectors do the PSQA and FTMN ETFs invest in?
PSQA leans toward sectors like Industrials. Meanwhile, FTMN focuses on Municipal.
What are the top holdings of the PSQA ETF and FTMN ETF?
PSQA top holdings include Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12553DAS62. FTMN holds in its top three: Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A), US60416JDA51 and Minneapolis, 4% 15nov2040, USD.
Which ETF is more diversified: PSQA or FTMN?
PSQA holds 125 securities with 24.88% of its assets in the top 15. FTMN has 191 securities and a top 15 weight of 26.6%.
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