Form EFFECT Putnam ETF Trust

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August 7, 2025 6:09 AM EDT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Notice of Effectiveness
Effectiveness Date:	August 6, 2025 4:30 P.M.

Form:

N-14

CIK:

0001845809

Company Name:

Putnam ETF Trust

File Number:

333-288406

SERIES/CLASSES (CONTRACTS) MERGERS

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094549		Franklin California Municipal Income ETF
		C000263082	Franklin California Municipal Income ETF
Target:
0000711402			PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
	S000005498		PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST
		C000014969	Class A Shares
Target:
0000711402			PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
	S000005498		PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST
		C000014971	Class C Shares
Target:
0000711402			PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
	S000005498		PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST
		C000060520	CLASS Y
Target:
0000711402			PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND
	S000005498		PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST
		C000202778	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094550		Franklin Pennsylvania Municipal Income ETF
		C000263083	Franklin Pennsylvania Municipal Income ETF
Target:
0000794615			PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
	S000006567		PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
		C000017915	Class A Shares
Target:
0000794615			PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
	S000006567		PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
		C000039842	Class C Shares
Target:
0000794615			PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
	S000006567		PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
		C000060576	CLASS Y
Target:
0000794615			PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
	S000006567		PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND
		C000202936	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094551		Franklin Municipal Income ETF
		C000263084	Franklin Municipal Income ETF
Target:
0000205802			PUTNAM TAX EXEMPT INCOME FUND
	S000006568		PUTNAM TAX EXEMPT INCOME FUND
		C000017917	Class C Shares
Target:
0000205802			PUTNAM TAX EXEMPT INCOME FUND
	S000006568		PUTNAM TAX EXEMPT INCOME FUND
		C000017918	Class A Shares
Target:
0000205802			PUTNAM TAX EXEMPT INCOME FUND
	S000006568		PUTNAM TAX EXEMPT INCOME FUND
		C000060417	CLASS Y
Target:
0000205802			PUTNAM TAX EXEMPT INCOME FUND
	S000006568		PUTNAM TAX EXEMPT INCOME FUND
		C000202806	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094552		Franklin Municipal High Yield ETF
		C000263085	Franklin Municipal High Yield ETF
Target:
0000771951			PUTNAM TAX FREE INCOME TRUST
	S000003861		Putnam Tax-Free High Yield Fund
		C000010821	Class C Shares
Target:
0000771951			PUTNAM TAX FREE INCOME TRUST
	S000003861		Putnam Tax-Free High Yield Fund
		C000010822	Class A Shares
Target:
0000771951			PUTNAM TAX FREE INCOME TRUST
	S000003861		Putnam Tax-Free High Yield Fund
		C000060536	CLASS Y
Target:
0000771951			PUTNAM TAX FREE INCOME TRUST
	S000003861		Putnam Tax-Free High Yield Fund
		C000202841	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094553		Franklin New York Municipal Income ETF
		C000263086	Franklin New York Municipal Income ETF
Target:
0000719712			PUTNAM NEW YORK TAX EXEMPT INCOME FUND
	S000006345		PUTNAM NEW YORK TAX EXEMPT INCOME FUND
		C000017441	Class C Shares
Target:
0000719712			PUTNAM NEW YORK TAX EXEMPT INCOME FUND
	S000006345		PUTNAM NEW YORK TAX EXEMPT INCOME FUND
		C000017443	Class A Shares
Target:
0000719712			PUTNAM NEW YORK TAX EXEMPT INCOME FUND
	S000006345		PUTNAM NEW YORK TAX EXEMPT INCOME FUND
		C000060413	CLASS Y
Target:
0000719712			PUTNAM NEW YORK TAX EXEMPT INCOME FUND
	S000006345		PUTNAM NEW YORK TAX EXEMPT INCOME FUND
		C000202782	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094554		Franklin Short-Term Municipal Income ETF
		C000263087	Franklin Short-Term Municipal Income ETF
Target:
0001005942			PUTNAM FUNDS TRUST
	S000039833		Putnam Short-Term Municipal Income Fund
		C000123516	CLASS A
Target:
0001005942			PUTNAM FUNDS TRUST
	S000039833		Putnam Short-Term Municipal Income Fund
		C000123518	CLASS C
Target:
0001005942			PUTNAM FUNDS TRUST
	S000039833		Putnam Short-Term Municipal Income Fund
		C000123520	CLASS Y
Target:
0001005942			PUTNAM FUNDS TRUST
	S000039833		Putnam Short-Term Municipal Income Fund
		C000202822	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094555		Franklin Massachusetts Municipal Income ETF
		C000263088	Franklin Massachusetts Municipal Income ETF
Target:
0000792288			PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/
	S000006210		PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND
		C000017118	Class C Shares
Target:
0000792288			PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/
	S000006210		PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND
		C000017120	Class A Shares
Target:
0000792288			PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/
	S000006210		PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND
		C000060571	CLASS Y
Target:
0000792288			PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/
	S000006210		PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND
		C000202927	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094556		Franklin Minnesota Municipal Income ETF
		C000263089	Franklin Minnesota Municipal Income ETF
Target:
0000794612			PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
	S000006218		PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
		C000017144	Class A Shares
Target:
0000794612			PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
	S000006218		PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
		C000039836	Class C Shares
Target:
0000794612			PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
	S000006218		PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
		C000060573	CLASS Y
Target:
0000794612			PUTNAM MINNESOTA TAX EXEMPT INCOME FUND
	S000006218		PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
		C000202929	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094557		Franklin New Jersey Municipal Income ETF
		C000263090	Franklin New Jersey Municipal Income ETF
Target:
0000857463			PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
	S000006252		PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
		C000017198	Class A Shares
Target:
0000857463			PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
	S000006252		PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
		C000039838	Class C Shares
Target:
0000857463			PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
	S000006252		PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
		C000060575	CLASS Y
Target:
0000857463			PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
	S000006252		PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND
		C000202931	Class R6 Shares

CIK
	Series ID
		Class/Contract	Name
Acquiring:
0001845809			Putnam ETF Trust
	S000094558		Franklin Ohio Municipal Income ETF
		C000263091	Franklin Ohio Municipal Income ETF
Target:
0000794616			PUTNAM OHIO TAX EXEMPT INCOME FUND
	S000006390		PUTNAM OHIO TAX EXEMPT INCOME FUND II
		C000017547	Class A Shares
Target:
0000794616			PUTNAM OHIO TAX EXEMPT INCOME FUND
	S000006390		PUTNAM OHIO TAX EXEMPT INCOME FUND II
		C000039840	Class C Shares
Target:
0000794616			PUTNAM OHIO TAX EXEMPT INCOME FUND
	S000006390		PUTNAM OHIO TAX EXEMPT INCOME FUND II
		C000060574	CLASS Y
Target:
0000794616			PUTNAM OHIO TAX EXEMPT INCOME FUND
	S000006390		PUTNAM OHIO TAX EXEMPT INCOME FUND II
		C000202934	Class R6 Shares

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