Franklin Templeton has trimmed the net expense ratios on three of its exchange-traded funds, the company announced today.

The discounts take effect on August 1, and include its two largest ETFs—the Franklin LibertyQ U.S. Equity ETF (FLQL) and Franklin LibertyQ Emerging Markets ETF (FLQE).

FLQL has nearly $1.2 billion in assets and tracks a multi-factor index with exposure to four factors: quality (50% of the weighting); value (30%); and momentum and low volatility (both at 10%). Its expense ratio was trimmed 40%, from 0.25% to 0.15%.

FLQE, which has more than $352 million in assets, targets the same four factors and weighing as FLQL but with a focus on emerging markets. Its fee was cut from 0.55% to 0.45%.

The third fund, the Franklin Liberty International Aggregate Bond ETF (FLIA), is an actively managed product that invests in government, sovereign and corporate bonds in both developed and emerging markets. Its expense ratio was reduced from 0.35% to 0.25%.