ETF2 P1 09/24
Effective
September 30, 2024, the following changes are made to the Fund’s Summary Prospectus, Prospectus and
SAI:
1. The following replaces all references to Thomas Runkel and Pururav Thoutireddy in the section titled “Fund Summary – Portfolio Managers” in the Fund’s Summary Prospectus and Prospectus:
Bryant Dieffenbacher, CFA
Portfolio Manager
of Advisers and portfolio manager of the Fund since September 2024.
2. The following replaces all references to Thomas Runkel and Pururav Thoutireddy in the section titled “Fund Details – Management” in the Fund’s Prospectus:
Bryant Dieffenbacher, CFA Portfolio Manager
of Advisers
Mr. Dieffenbacher has been a portfolio manager of the Fund since September 2024.
He joined Franklin Templeton in 2010.
3. The following replaces all references to Thomas Runkel and Pururav Thoutireddy in the section titled “Management and Other Services – Portfolio managers” in the Fund’s SAI:
Name | Type of | Number of Accounts Managed | Total Assets Managed (x $1 million) | Number of Accounts Managed for which Advisory Fee is Performance-Based | Assets Managed for which Advisory Fee is Performance-Based (x $1 million) |
Bryant Dieffenbacher* | Registered Investment Companies | 1 | 1,057.5 | None | None |
Other Pooled Investment Vehicles | 1 | 2,758.7 | None | None | |
Other Accounts | None | None | None | None |
*Information is provided as of August 31, 2024.
4. The following replaces all references to Thomas Runkel and Pururav Thoutireddy in the section titled “Management and Other Services – Portfolio managers – Ownership of Fund shares” in the Fund’s SAI:
Portfolio Manager | Dollar Range of Fund Shares Beneficially Owned |
Bryant Dieffenbacher* | None |
*Information is provided as of August 31, 2024 |
Please retain this supplement for future reference.