Franklin Templeton ESG ETF Goes Transparent

Franklin Templeton ESG ETF Goes Transparent

The fund will retain its strategy and fees.

Reviewed by: Shubham Saharan
Edited by: Shubham Saharan

Franklin Templeton’s only so-called nontransparent exchange-traded fund is set to begin publishing its holdings by the end of the year.  

The $3.2 million ClearBridge Focus Value ESG ETF (CFCV), which invests in large cap value companies that subscribe to environmental, social and governance guidelines, will transition from an ActiveShares nontransparent ETF to a conventional transparent ETF on or about Dec. 16, the California-based firm said in a statement to  

A spokesperson did not respond to a request for comment on what spurred the change. San Mateo, California-based Franklin Templeton manages $1.4 trillion in assets and 56 ETFs. 

“The portfolio managers at ClearBridge Investments are confident they can manage the fund efficiently and effectively while publicly disclosing portfolio holdings on a daily basis,’’ the statement read. “There will be no changes to the fund’s investment management team or investment objective.”  

CFCV, which initially launched in 2020 under a different name, will maintain its 0.49% expense ratio.  

Franklin Templeton is changing the fund amid a downturn in nontransparent ETF performances, with the segment benchmark down 15.8%, according to data.  

Other ActiveShares funds such as the Fidelity Sustainable U.S. Equity ETF (FSST) and the Putnam Sustainable Future ETF (PFUT) have fallen as much as 36% year to date.  



Meanwhile, CFCV has dropped 22.7% compared with this time last year, data shows.  




Contact Shubham Saharanat[email protected] 

Shubham Saharan is a markets reporter at Before joining the company, she reported for Bloomberg and the Financial Times. Saharan is a graduate of Barnard College of Columbia University.