Franklin Templeton ETF Trust

04/17/2026 | Press release | Distributed by Public on 04/17/2026 07:36

Summary Prospectus by Investment Company (Form 497K)

FLSP-P2 04/26

SUPPLEMENT DATED APRIL 17, 2026

TO THE SUMMARY PROSPECTUS, AS APPLICABLE, PROSPECTUS AND

STATEMENT OF ADDITIONAL INFORMATION ("SAI")

OF EACH FUND LISTED IN SCHEDULE A and SCHEDULE B

All changes described below are effective June 1, 2026.

1. The following supersedes any and all disclosure to the contrary in the Summary Prospectus, Prospectus and SAI of each fund listed in Schedule A:

The portfolio managers primarily responsible for the day-to-day management of the fund are Vaneet Chadha, CFA, Robert Christian, and Christopher W. Floyd, CFA.

2. The following changes are made to the Prospectus and SAI of each fund listed in Schedule B:

a. The following replaces the references to Sundaram Chettiappan and Christopher W. Floyd in the section titled "Fund Summary - Portfolio Managers" in each fund's Prospectus:

Brett E. Risser
Portfolio Manager of Advisers and portfolio manager of the Fund since June 2026.

b. The following replaces the references to Sundaram Chettiappan and Christopher W. Floyd in the section titled "Fund Details - Management" in each fund's Prospectus:

Brett E. Risser Portfolio Manager of Advisers

Mr. Risser has been a portfolio manager of the Fund since June 2026. He joined Franklin Templeton in 2023. Prior to joining Franklin Templeton, Mr. Risser was a portfolio manager for Putnam Investment Management, LLC ("Putnam Management"). He joined Putnam Management in 2003.

c. The following replaces references to Sundaram Chettiappan and Christopher W. Floyd in the table in the section titled "Management and Other Services - Portfolio managers" in each fund's SAI:

Name

Type of
Account

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)

Brett E. Risser*

Registered

Investment

Companies

8

5,409.5

None

None

Other Pooled

Investment

Vehicles

9

1,935.6

None

None

Other

Accounts

4

1,506.0

1

638.8

*Information is provided as of February 28, 2026.

d. The following replaces references to Sundaram Chettiappan and Christopher W. Floyd in the table in the section titled "Management and Other Services - Portfolio managers - Ownership of Fund shares" in each fund's SAI:

Portfolio Manager

Dollar Range of Fund Shares Beneficially Owned

Brett E. Risser*

None

*Information is provided as of March 31, 2026

SCHEDULE A

Fund

Date of Summary

Prospectus, Prospectus and SAI

FRANKLIN TEMPLETON ETF TRUST

Franklin Systematic Style Premia ETF

August 1, 2025

SCHEDULE B

Fund

Date of

Prospectus and SAI

Franklin Fund Allocator Series

Franklin U.S. Core Equity (IU) Fund

December 1, 2025

Franklin International Core Equity (IU) Fund

December 1, 2025

Franklin Emerging Market Core Equity (IU) Fund

December 1, 2025

Please retain this supplement for future reference.

Franklin Templeton ETF Trust published this content on April 17, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 17, 2026 at 13:36 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]