FLQM
Franklin U.S. Mid Cap Multifactor Index ETF
The Franklin LibertyQ U.S. Mid Cap Equity ETF tracks a US-listed midcap equity index that selects and weights constituents based on four factors: quality, value, momentum, and volatility.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
30 bp
EXPENSES
$746.9 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Franklin ETF Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 26, 2017 |
| Assets (mns) | $747 |
| Expense ratio | 30 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TRANE TECHNOLOGIES PLC | 1.3 % |
| MONOLITHIC POWER SYSTEMS INC | 1.2 % |
| NETAPP INC | 1.2 % |
| TRACTOR SUPPLY COMPANY | 1.2 % |
| FAIR ISAAC CORP | 1.1 % |
| CINTAS CORP | 1.1 % |
| DIAMONDBACK ENERGY INC | 1.0 % |
| WOLSELEY PLC | 1.0 % |
| DISCOVER FINANCIAL SERVICES | 1.0 % |
| METTLER-TOLEDO INTERNATIONAL | 1.0 % |
Constituent Breakdown
| Number of holdings | 206 |
| Herfindahl-Hirschman Index | 67 |
| Wgt avg mkt cap (mns) | $24,086 |
| Large cap (>$10bn) | 85.4% |
| Mid cap ($2-10bn) | 13.8% |
| Small cap (<$2bn) | 0.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 91.7 % |
 |
BRITAIN | 2.0 % |
 |
IRELAND | 1.7 % |
 |
SWITZERLAND | 1.0 % |
 |
BERMUDA | 0.8 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.1% | 16.2% | 17.0% | 6.8% | 12.1% | -- | 11.8% | Volatility | 11.6% | 12.6% | 16.8% | 17.0% | 21.3% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 89% |
| MSCI EAFE | 0.98 | 82% |
| MSCI Emg Mkts | 0.66 | 38% |
Liquidity Measures
| Avg. volume (000) | 149 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $52,639 |
Technical Indicators
| Recent close | $52.60 |
| 30d moving avg. | $51.78 |
| Annualized volatility | 18.9% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 3.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FLQM |
Expenses vs. FLQM |
ALTAR Score™ vs. FLQM |
|---|---|---|---|---|
| ONEV | SPDR Russell 1000 Low Volatility Focus ETF | 35.8% | -10 bp | -0.1% |
| JPME | JPMorgan Diversified Return U.S. Mid Cap Equity ETF | 34.9% | -6 bp | -0.3% |
| ONEY | SPDR Russell 1000 Yield Focus ETF | 33.0% | -10 bp | +1.9% |
| DEUS | Xtrackers Russell US Multifactor ETF | 31.5% | -13 bp | -0.9% |
| ONEO | SPDR Russell 1000 Momentum Focus ETF | 30.7% | -10 bp | -0.8% |
| JHMM | John Hancock Multifactor Mid Cap ETF | 30.2% | +12 bp | -1.6% |
| VOE | Vanguard Mid-Cap Value ETF | 26.7% | -23 bp | -0.7% |
| IWR | iShares Russell Midcap ETF | 26.5% | -11 bp | -2.4% |
| TPLC | Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund | 26.4% | +22 bp | -2.6% |
| TPLE | Timothy Plan Us Large/Mid Cap Core Enhanced ETF | 26.3% | +28 bp | -2.7% |
Risk and Returns: FLQM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FLQM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
FLQM
8.0%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.0% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. FLQM's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places FLQM in the 83rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FLQM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| FLQM (30 bp) Percentile rank | 31 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FLQM | 30.0 | 9.3 | 39.3 |
| Peer Avg. | 29.1 | 14.0 | 43.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .