FTMN bid-ask spread and liquidity

Franklin Minnesota Municipal Income ETF
BondsFranklin$276m net assets0.35% fee
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Ask IQ about FTMN bid-ask spread and liquidity

Answers cite the figures on this page.

OverviewHoldingsDividendsTradingFlowsCompare

IQ Liquidity Score

1 of 6 measured · Aug 13, 2026
·
Not scored
0 · Hard to trade100 · Trades like a giant

The IQ Liquidity Score: a fixed 0 to 100 scale of trading conditions, the same anchors for every fund; 100 is the easiest to trade. It measures how cheaply and reliably the fund trades, not whether to own it. Method →

Cost to trade
Not measured · the issuer's 30-day median spread is not read for this fund
·
Capacity
Not measured · its holdings are bonds, which have no volume source here
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Price fidelity
Not measured · no closing premium is held for this fund
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Primary market
6 active dealers of 20; largest 33% of creations and redemptions, N-CEN to May 31, 2026
85.0
Bad-day behaviour
Not measured · no daily closing premium is held for this fund
·
Depth
Not measured · needs trade and quote data (Phase 2)
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Capacity

What the holdings can absorb a day

Not measured: its holdings are bonds, which have no volume source here.

Dealers

Authorized participants · N-CEN, the year to May 31, 2026
Active dealers
6
of 20 authorized
Largest
33%
of creations and redemptions
One dealer
No
6 active

6 of 20 authorized participants created or redeemed FTMN shares in the year to May 31, 2026. From the fund’s Form N-CEN, filed Aug 13, 2026.

The active authorized participants, largest first, by share of the dollars created and redeemed: Goldman Sachs & Co. LLC (33.5%), Jane Street Capital, LLC (21.5%), Virtu Americas LLC (16.9%), Macquarie Capital (USA) Inc. (14.0%), BofA Securities, Inc. (9.5%), RBC Capital Markets, LLC (4.7%). 14 more were listed and created or redeemed nothing.

How to trade FTMN

To buy or to sell, up to $100,000
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Phase 2 · drawn now, filled when trade data arrives
Spread through the dayComing with trade data

Median spread by half hour, 30 days.

Buyers against sellersComing with trade data

Share of volume at the ask against at the bid.

Retail flow, estimatedComing with trade data

Sub-penny prints as a share of volume.

Large tradesComing with trade data

Prints above $500k, count and share.

Closing auctionComing with trade data

Share of the day’s volume at the close.

Questions people ask

Who is the AP for FTMN?

FTMN’s latest Form N-CEN, for the period ending May 31, 2026, lists 20 authorized participants (APs), and 6 created or redeemed shares. The largest were Goldman Sachs & Co. LLC (33.5%), Jane Street Capital, LLC (21.5%), Virtu Americas LLC (16.9%) of the dollars its APs created and redeemed.

Who is the LMM for FTMN?

FTMN’s lead market maker (LMM) on NYSE Arca is RBC Capital Markets, LLC. Lead market maker per NYSE Arca, as of Oct 23, 2026.
Sources and dates
DealersForm N-CEN · the year to May 31, 2026
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →FTMN fund page→
Cite this pageCitation, APA and Markdown

ETFIQ, FTMN trading: cost, capacity, premium and dealers, data as of Aug 13, 2026. https://etfiq.com/funds/ftmn/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.