ETF Evaluator:
Franklin ClearBridge Enhanced Inc ETF ()
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(as of Nov 13)
Best Performing in Derivative Income - Diversified Over the Last Year
| 24.9% | Federated Hermes Enhanced Income ETF (PAYR) |
| 21.1% | Amplify COWS Covered Call ETF (HCOW) |
| 20.5% | Parametric Equity Premium Income ETF (PAPI) |
| 20.2% | First Trust Small Cp BuyWrt Inc ETF (FTKI) |
| 19.9% | Cullen Enhanced Equity Income ETF (DIVP) |
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ETF Details
Franklin ClearBridge Enhanced Inc ETF Overview
Franklin ClearBridge Enhanced Inc ETF (YLDE) is an actively managed Nontraditional Equity Derivative Income - Diversified exchange-traded fund (ETF). Franklin Templeton, Inc launched the ETF in 2017.
The investment seeks to provide income and long-term capital appreciation.
Under normal market conditions, the fund will pursue an enhanced equity income strategy by investing primarily in dividend-paying equity securities and “enhancing” income through the employment of an options overlay by writing (selling) U.S. exchange-traded call options based upon U.S. large capitalization equity indices (such as the S&P 500® Index).
About Franklin ClearBridge Enhanced Inc ETF (YLDE)
There are 4 members of the management team with an average tenure of 5.08 years: Jonathan Orseck (2025), Michael Clarfeld (2017), Bradley Berggren (2025) and John Baldi (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Franklin ClearBridge Enhanced Inc ETF has 54 securities in its portfolio. The top 10 holdings constitute 31.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Franklin ClearBridge Enhanced Inc ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Franklin ClearBridge Enhanced Inc ETF has 13.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.6% There is 13.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Franklin ClearBridge Enhanced Inc ETF has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $180 million in total assets, which is below the $1 billion average for the Derivative Income - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
YLDE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin ClearBridge Enhanced Inc ETF expense ratio is average compared to funds in the Derivative Income - Diversified category. Franklin ClearBridge Enhanced Inc ETF has an expense ratio of 0.48%, which is 34% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin ClearBridge Enhanced Inc ETF has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Derivative Income - Diversified category.
Recently, in the month of October 2026, Franklin ClearBridge Enhanced Inc ETF returned 6.0%, which earned it a grade of A, as the Derivative Income - Diversified category had an average return of -2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Franklin ClearBridge Enhanced Inc ETF has a trailing yield of 3.10%, which is below the 6.26% category average.
The fund normally distributes its income monthly and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin ClearBridge Enhanced Inc ETF Grades
Year to date, the ETF has returned 12.0%, 3.1 percentage points better than the category, which translates into a grade of B. The fund has returned 16.3% over the past year (grade of A), 18.0% over the past three years (grade of B) and 10.1% per year over the past five years (grade of B).
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YLDE Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| YLDE Return (NAV) | 6.0% | 2.5% | 16.3% | 18.0% | 10.1% | na |
| YLDE Return (Price) | 5.7% | 2.3% | 16.1% | 18.0% | 10.0% | na |
| NAV +/- Price Return | 0.321% | 0.183% | 0.206% | 0.028% | 0.035% | na |
| Derivative Income - Diversified Avg | -2.0% | 0.9% | 10.1% | 16.5% | 8.1% | 8.1% |
| YLDE Grade (NAV) | A | A | A | B | B | na |
| +/- Category (NAV) | 7.9% | 1.6% | 6.2% | 1.5% | 2.0% | na |
| YLDE Tax-Cost Ratio | na | na | 1.2% | 1.1% | 1.0% | na |
YLDE Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| YLDE Return (NAV) | 12.0% | 13.0% | 16.6% | 15.6% | -8.6% | 22.3% | 11.0% | 29.4% | -3.9% | na | na |
| YLDE Return (Price) | 11.9% | 13.1% | 16.4% | 15.7% | -8.6% | 22.1% | 10.3% | 32.5% | -5.8% | na | na |
| NAV +/- Price Ret | -0.011% | 0.010% | -0.009% | 0.007% | -0.009% | -0.010% | -0.061% | 10.3% | 45.9% | na | na |
| Derivative Income - Diversified Avg | 8.9% | 13.8% | 15.9% | 16.3% | -11.8% | 19.1% | 3.7% | 19.2% | -5.9% | 14.0% | 7.1% |
| YLDE Grade (NAV) | B | C | C | C | B | B | A | A | B | na | na |
| +/- Category | 3.1% | -0.9% | 0.6% | -0.7% | 3.2% | 3.2% | 7.3% | 10.2% | 2.0% | na | na |
| Risk Measures | |
| Beta: | 0.54 |
| R-Squared: | 43% |
| Standard Deviation: | 10.4% |
| Category Risk Index: | 1.00 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.86 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.1% |
| Total Assets: | $ 181 Mil |
| Share Class Assets: | $ 181 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.48% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Semi-Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 9.5 years | |||
| Average Tenure: 5.1 years | |||
| Managers (Year): Clarfeld Michael (2017), Baldi John (2019), Orseck Jonathan (2025), Berggren Bradley (2025) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 31.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.3% |
Portfolio Allocation |
|
| Domestic Stock: | 85.6% |
| Foreign Stock: | 13.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Franklin Templeton, Inc |
| Phone Number: | 877-721-1926 |
| Website: | www.leggmason.com/individualinvestors |
| Inception Date: | May 22, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.48% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.73% |
