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<link:linkbase xmlns:tsr="http://tsr/20260331" xmlns:deprecated="http://www.xbrl.org/2009/role/deprecated" xmlns:oef="http://xbrl.sec.gov/oef/2025" xmlns:dtr="http://www.xbrl.org/2009/dtr" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:oef-pre="http://xbrl.sec.gov/oef-pre/2025" xmlns="http://www.w3.org/2001/XMLSchema" xmlns:oef-lab="http://xbrl.sec.gov/oef-lab/2025" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:oef-def="http://xbrl.sec.gov/oef-def/2025" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2022-03-31" xmlns:srt="http://fasb.org/srt/2025" xmlns:oef02="http://oef02/20321031" xmlns:oef-sr="http://xbrl.sec.gov/oef-sr/2025" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:srt-types="http://fasb.org/srt-types/2025">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000167259Member" xlink:label="C000167259Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167259Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Emerging Market Core Dividend Tilt Index ETF - C000167259</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000167259Member" xlink:to="label_tsr_C000167259Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167259Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Emerging Market Core Dividend Tilt Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000167258Member" xlink:label="C000167258Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167258Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin International Core Dividend Tilt Index ETF - C000167258</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000167258Member" xlink:to="label_tsr_C000167258Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167258Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin International Core Dividend Tilt Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000255929Member" xlink:label="C000255929Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000255929Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin International Dividend Booster Index ETF - C000255929</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000255929Member" xlink:to="label_tsr_C000255929Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000255929Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin International Dividend Booster Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000167260Member" xlink:label="C000167260Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167260Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Core Dividend Tilt Index ETF - C000167260</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000167260Member" xlink:to="label_tsr_C000167260Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167260Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Core Dividend Tilt Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000255930Member" xlink:label="C000255930Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000255930Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Dividend Booster Index ETF - C000255930</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000255930Member" xlink:to="label_tsr_C000255930Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000255930Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Dividend Booster Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000181968Member" xlink:label="C000181968Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181968Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Large Cap Multifactor Index ETF - C000181968</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000181968Member" xlink:to="label_tsr_C000181968Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181968Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Large Cap Multifactor Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000181969Member" xlink:label="C000181969Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181969Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Mid Cap Multifactor Index ETF - C000181969</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000181969Member" xlink:to="label_tsr_C000181969Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181969Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Mid Cap Multifactor Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000181970Member" xlink:label="C000181970Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181970Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Small Cap Multifactor Index ETF - C000181970</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000181970Member" xlink:to="label_tsr_C000181970Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000181970Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Small Cap Multifactor Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000216719Member" xlink:label="C000216719Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216719Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Disruptive Commerce ETF - C000216719</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000216719Member" xlink:to="label_tsr_C000216719Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216719Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Disruptive Commerce ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000263376Member" xlink:label="C000263376Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000263376Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Dividend Growth ETF - C000263376</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000263376Member" xlink:to="label_tsr_C000263376Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000263376Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Dividend Growth ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000187842Member" xlink:label="C000187842Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000187842Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Dynamic Municipal Bond ETF - C000187842</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000187842Member" xlink:to="label_tsr_C000187842Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000187842Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Dynamic Municipal Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000223928Member" xlink:label="C000223928Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000223928Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Exponential Data ETF - C000223928</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000223928Member" xlink:to="label_tsr_C000223928Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000223928Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Exponential Data ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000241824Member" xlink:label="C000241824Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000241824Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Focused Growth ETF - C000241824</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000241824Member" xlink:to="label_tsr_C000241824Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000241824Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Focused Growth ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000216720Member" xlink:label="C000216720Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216720Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Genomic Advancements ETF - C000216720</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000216720Member" xlink:to="label_tsr_C000216720Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216720Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Genomic Advancements ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000200689Member" xlink:label="C000200689Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200689Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin High Yield Corporate ETF - C000200689</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000200689Member" xlink:to="label_tsr_C000200689Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200689Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin High Yield Corporate ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000169124Member" xlink:label="C000169124Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000169124Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Income Equity Focus ETF - C000169124</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000169124Member" xlink:to="label_tsr_C000169124Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000169124Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Income Equity Focus ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000242870Member" xlink:label="C000242870Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000242870Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Income Focus ETF - C000242870</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000242870Member" xlink:to="label_tsr_C000242870Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000242870Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Income Focus ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000216721Member" xlink:label="C000216721Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216721Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Intelligent Machines ETF - C000216721</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000216721Member" xlink:to="label_tsr_C000216721Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000216721Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Intelligent Machines ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000200690Member" xlink:label="C000200690Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200690Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin International Aggregate Bond ETF - C000200690</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000200690Member" xlink:to="label_tsr_C000200690Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200690Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin International Aggregate Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000169125Member" xlink:label="C000169125Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000169125Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Investment Grade Corporate ETF - C000169125</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000169125Member" xlink:to="label_tsr_C000169125Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000169125Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Investment Grade Corporate ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000262830Member" xlink:label="C000262830Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000262830Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Multisector Income ETF - C000262830</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000262830Member" xlink:to="label_tsr_C000262830Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000262830Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Multisector Income ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000187843Member" xlink:label="C000187843Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000187843Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Municipal Green Bond ETF - C000187843</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000187843Member" xlink:to="label_tsr_C000187843Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000187843Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Municipal Green Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000200691Member" xlink:label="C000200691Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200691Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Senior Loan ETF - C000200691</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000200691Member" xlink:to="label_tsr_C000200691Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000200691Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Senior Loan ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000215016Member" xlink:label="C000215016Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000215016Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Systematic Style Premia ETF - C000215016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000215016Member" xlink:to="label_tsr_C000215016Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000215016Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Systematic Style Premia ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000214198Member" xlink:label="C000214198Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000214198Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Core Bond ETF - C000214198</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000214198Member" xlink:to="label_tsr_C000214198Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000214198Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Core Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000219501Member" xlink:label="C000219501Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000219501Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Treasury Bond ETF - C000219501</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000219501Member" xlink:to="label_tsr_C000219501Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000219501Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Treasury Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000218231Member" xlink:label="C000218231Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000218231Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Ultra Short Bond ETF - C000218231</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000218231Member" xlink:to="label_tsr_C000218231Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000218231Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Ultra Short Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194934Member" xlink:label="C000194934Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194934Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Asia Ex Japan ETF - C000194934</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194934Member" xlink:to="label_tsr_C000194934Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194934Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Asia Ex Japan ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194942Member" xlink:label="C000194942Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194942Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Australia ETF - C000194942</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194942Member" xlink:to="label_tsr_C000194942Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194942Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Australia ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194935Member" xlink:label="C000194935Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194935Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Brazil ETF - C000194935</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194935Member" xlink:to="label_tsr_C000194935Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194935Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Brazil ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194943Member" xlink:label="C000194943Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194943Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Canada ETF - C000194943</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194943Member" xlink:to="label_tsr_C000194943Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194943Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Canada ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194936Member" xlink:label="C000194936Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194936Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE China ETF - C000194936</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194936Member" xlink:to="label_tsr_C000194936Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194936Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE China ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194929Member" xlink:label="C000194929Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194929Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Europe ETF - C000194929</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194929Member" xlink:to="label_tsr_C000194929Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194929Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Europe ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194940Member" xlink:label="C000194940Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194940Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Eurozone ETF - C000194940</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194940Member" xlink:to="label_tsr_C000194940Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194940Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Eurozone ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194945Member" xlink:label="C000194945Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194945Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Germany ETF - C000194945</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194945Member" xlink:to="label_tsr_C000194945Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194945Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Germany ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194937Member" xlink:label="C000194937Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194937Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE India ETF - C000194937</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194937Member" xlink:to="label_tsr_C000194937Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194937Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE India ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194948Member" xlink:label="C000194948Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194948Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Japan ETF - C000194948</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194948Member" xlink:to="label_tsr_C000194948Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194948Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Japan ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194930Member" xlink:label="C000194930Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194930Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Japan Hedged ETF - C000194930</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194930Member" xlink:to="label_tsr_C000194930Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194930Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Japan Hedged ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000204491Member" xlink:label="C000204491Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000204491Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Latin America ETF - C000204491</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000204491Member" xlink:to="label_tsr_C000204491Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000204491Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Latin America ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194938Member" xlink:label="C000194938Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194938Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Mexico ETF - C000194938</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194938Member" xlink:to="label_tsr_C000194938Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194938Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Mexico ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000204487Member" xlink:label="C000204487Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000204487Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Saudi Arabia ETF - C000204487</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000204487Member" xlink:to="label_tsr_C000204487Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000204487Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Saudi Arabia ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194931Member" xlink:label="C000194931Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194931Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE South Korea ETF - C000194931</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194931Member" xlink:to="label_tsr_C000194931Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194931Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE South Korea ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194932Member" xlink:label="C000194932Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194932Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Switzerland ETF - C000194932</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194932Member" xlink:to="label_tsr_C000194932Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194932Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Switzerland ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194941Member" xlink:label="C000194941Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194941Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Taiwan ETF - C000194941</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194941Member" xlink:to="label_tsr_C000194941Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194941Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Taiwan ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194933Member" xlink:label="C000194933Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194933Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE United Kingdom ETF - C000194933</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194933Member" xlink:to="label_tsr_C000194933Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194933Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE United Kingdom ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000235080Member" xlink:label="C000235080Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000235080Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class BrandywineGLOBAL-Dynamic US Large Cap Value ETF - C000235080</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000235080Member" xlink:to="label_tsr_C000235080Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000235080Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">BrandywineGLOBAL-Dynamic US Large Cap Value ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000243296Member" xlink:label="C000243296Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000243296Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class BrandywineGLOBAL - U.S. Fixed Income ETF - C000243296</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000243296Member" xlink:to="label_tsr_C000243296Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000243296Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">BrandywineGLOBAL - U.S. Fixed Income ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000194939Member" xlink:label="C000194939Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194939Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin FTSE Russia ETF - C000194939</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000194939Member" xlink:to="label_tsr_C000194939Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000194939Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin FTSE Russia ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000266461Member" xlink:label="C000266461Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000266461Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin Small Cap Enhanced ETF - C000266461</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000266461Member" xlink:to="label_tsr_C000266461Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000266461Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin Small Cap Enhanced ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000167261Member" xlink:label="C000167261Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167261Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Franklin U.S. Equity Index ETF - C000167261</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000167261Member" xlink:to="label_tsr_C000167261Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000167261Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Franklin U.S. Equity Index ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000264308Member" xlink:label="C000264308Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000264308Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Putnam International Stock ETF - C000264308</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000264308Member" xlink:to="label_tsr_C000264308Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000264308Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Putnam International Stock ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000268200Member" xlink:label="C000268200Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000268200Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Templeton Emerging Markets Debt ETF - C000268200</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000268200Member" xlink:to="label_tsr_C000268200Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000268200Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Templeton Emerging Markets Debt ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000264307Member" xlink:label="C000264307Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000264307Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Templeton International Insights ETF - C000264307</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000264307Member" xlink:to="label_tsr_C000264307Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000264307Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Templeton International Insights ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_C000243867Member" xlink:label="C000243867Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000243867Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class Western Asset Bond ETF - C000243867</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="C000243867Member" xlink:to="label_tsr_C000243867Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_C000243867Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Western Asset Bond ETF</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_bench202605317823_7121Member" xlink:label="bench202605317823_7121Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_bench202605317823_7121Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Broad Based Index:1SINGLCLASS-Morningstar Emerging Markets Target Market Exposure Index-NR_1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bench202605317823_7121Member" xlink:to="label_tsr_bench202605317823_7121Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_bench202605317823_7121Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Morningstar Emerging Markets Target Market Exposure Index-NR [Member]</link:label>
    <link:loc xlink:type="locator" xlink:href="tsr-20260331.xsd#tsr_benchmarkHB10776_7121Member" xlink:label="benchmarkHB10776_7121Member"/>
    <link:label xlink:type="resource" xlink:label="label_tsr_benchmarkHB10776_7121Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Index:2SINGLCLASS-Linked Morningstar Emerging Markets Target Market Exposure Index-NR2</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="benchmarkHB10776_7121Member" xlink:to="label_tsr_benchmarkHB10776_7121Member"/>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DowJonesIndustrialAverageMember" xlink:label="DowJonesIndustrialAverageMember"/>
    <link:label xlink:type="resource" xlink:label="label_DowJonesIndustrialAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dow Jones Industrial Average [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DowJonesIndustrialAverageMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Dow Jones Industrial Average</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DowJonesIndustrialAverageMember" xlink:to="label_DowJonesIndustrialAverageMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionSectorMember" xlink:label="ConstructionSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_ConstructionSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Construction Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSectorMember" xlink:to="label_ConstructionSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_ConstructionSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Construction Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionSectorMember" xlink:to="label_ConstructionSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AutomotiveSectorMember" xlink:label="AutomotiveSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_AutomotiveSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Automotive Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AutomotiveSectorMember" xlink:to="label_AutomotiveSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_AutomotiveSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Automotive Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AutomotiveSectorMember" xlink:to="label_AutomotiveSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TransportationSectorMember" xlink:label="TransportationSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_TransportationSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transportation Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationSectorMember" xlink:to="label_TransportationSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_TransportationSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Transportation Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationSectorMember" xlink:to="label_TransportationSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AerospaceSectorMember" xlink:label="AerospaceSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_AerospaceSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Aerospace Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AerospaceSectorMember" xlink:to="label_AerospaceSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_AerospaceSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Aerospace Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AerospaceSectorMember" xlink:to="label_AerospaceSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConsumerSectorMember" xlink:label="ConsumerSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_ConsumerSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsumerSectorMember" xlink:to="label_ConsumerSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_ConsumerSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Consumer Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsumerSectorMember" xlink:to="label_ConsumerSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ChemicalsSectorMember" xlink:label="ChemicalsSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_ChemicalsSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chemicals Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChemicalsSectorMember" xlink:to="label_ChemicalsSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_ChemicalsSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Chemicals Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChemicalsSectorMember" xlink:to="label_ChemicalsSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InsuranceSectorMember" xlink:label="InsuranceSectorMember"/>
    <link:label xlink:type="resource" xlink:label="label_InsuranceSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceSectorMember" xlink:to="label_InsuranceSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_InsuranceSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Insurance Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceSectorMember" xlink:to="label_InsuranceSectorMember_3" priority="1"/>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashMember" xlink:label="CashMember"/>
    <link:label xlink:type="resource" xlink:label="label_CashMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashMember" xlink:to="label_CashMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_CashMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Cash</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetBackedSecuritiesMember" xlink:label="AssetBackedSecuritiesMember"/>
    <link:label xlink:type="resource" xlink:label="label_AssetBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Asset Backed Securities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetBackedSecuritiesMember" xlink:to="label_AssetBackedSecuritiesMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_AssetBackedSecuritiesMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Asset Backed Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetBackedSecuritiesMember" xlink:to="label_AssetBackedSecuritiesMember_3" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_ContainerAndPackagingSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Container And PackagingSector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContainerAndPackagingSectorMember" xlink:to="label_ContainerAndPackagingSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_ContainerAndPackagingSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Container And PackagingSector</link:label>
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    <link:label xlink:type="resource" xlink:label="label_USTreasurySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">US Treasury Securities [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_MortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage Backed Securities [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_EntertainmentSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Entertainment Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntertainmentSectorMember" xlink:to="label_EntertainmentSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_EntertainmentSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Entertainment Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntertainmentSectorMember" xlink:to="label_EntertainmentSectorMember_3" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_FoodAndBeverageSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Food And Beverage Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FoodAndBeverageSectorMember" xlink:to="label_FoodAndBeverageSectorMember" priority="1"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FoodAndBeverageSectorMember" xlink:to="label_FoodAndBeverageSectorMember_3" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_FinancialServicesSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financial Services Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialServicesSectorMember" xlink:to="label_FinancialServicesSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_FinancialServicesSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Financial Services Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialServicesSectorMember" xlink:to="label_FinancialServicesSectorMember_3" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_HealthcareSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Healthcare Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HealthcareSectorMember" xlink:to="label_HealthcareSectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_HealthcareSectorMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Healthcare Sector</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HealthcareSectorMember" xlink:to="label_HealthcareSectorMember_3" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_EnergySectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Energy Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnergySectorMember" xlink:to="label_EnergySectorMember" priority="1"/>
    <link:label xlink:type="resource" xlink:label="label_EnergySectorMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Energy Sector</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TechnologySectorMember" xlink:to="label_TechnologySectorMember" priority="1"/>
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    <link:label xlink:type="resource" xlink:label="label_GovernmentSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government Sector [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentSectorMember" xlink:to="label_GovernmentSectorMember" priority="1"/>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentSectorMember" xlink:to="label_GovernmentSectorMember_3" priority="1"/>
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