Fixed Income Active

WINC Western Asset Short Duration Income ETF

  • Flexible, high-quality, short-duration exposure. Invests primarily in US investment-grade corporate bonds, supplemented by below-investment-grade fixed income securities such as high yield bonds, emerging market debt and structured securities where the investment manager expects credit quality to improve over time.
  • Limited interest rate risk. Portfolio managers typically seek to maintain an average effective duration of approximately two years.
  • Industry expertise. Leverages Western Asset’s global investment capabilities and strong risk management program, employing an active process that is both top-down and bottom-up to help identify attractive credit and income opportunities while actively managing risk.

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NAV 1 $0.00(0.00%)
$24.22
As of 08/28/2025
YTD Total Returns At NAV 2
3.94%
As of 08/28/2025
Total Net Assets
$0.00M
As of 08/28/2025 (Updated Daily)
Morningstar Overall Rating™ 3
As of 07/31/2025

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Fund liquidated

This fund was liquidated on August 29, 2025.

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Overview

Fund Facts

Fund description

The Fund seeks current income by investing primarily in US investment grade corporate bonds, supplemented by below investment grade fixed income securities such as high yield bonds, emerging market debt, and structured securities. Portfolio managers typically seek to maintain an average effective duration of approximately 2 years.

Benchmark
Bloomberg US Corporate 1-3 Year Index
Dividend Frequency, if any
N/A
Fund Inception Date
N/A
Listing Exchange
N/A
30-Day SEC Yield—With Waiver 4,5,6As of 07/31/2025 (Updated Monthly)
3.83%
30-Day SEC Yield—Without Waiver 4,6As of 07/31/2025 (Updated Monthly)
3.83%
Distribution Rate at NAV 7 (Updated Daily)
—

Expenses & Fees

As of N/A
Gross Expense Ratio8
N/A
Net Expense Ratio8,9
N/A

Identifiers

Ticker
N/A
Benchmark Ticker
N/A
IOPV / IIV Ticker10
N/A
CUSIP Code
N/A

Average Annual Total Returns

View performance section for additional info As of 07/31/2025

Fund

  • 5.37%1 Year
  • 4.55%3 Years
  • 2.49%5 Years
  • —10 Years
  • 3.22%Since Inception
    02/07/2019

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Additional Fund Info

Fiscal Year End
N/A
Trustee
N/A
Morningstar Category
Short-Term Bond
Lipper Classification
N/A

Trading Characteristics

As of 08/28/2025 (Updated Daily)
Creation/Redemption Fee (estimated)
N/A
Creation Unit Size (Number of Shares)
N/A
Shares Outstanding
500,000
Daily Volume
0
20-Day Average Volume
938.25

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Manager and Commentary

About the Team

Western Asset

Western Asset Management is one of the world's leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.

Western Asset logo
Portfolio Manager Profile
Years of Experience
Manager Location

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Ratings 3

Morningstar logo
Overall Morningstar Rating
Overall Morningstar Rating: 4 out of 5 stars  
As of 07/31/2025
3 Years
3 Years: 3 out of 5 stars  
525 Funds in category
5 Years
5 Years: 4 out of 5 stars  
483 Funds in category
10 Years
—
Rating Category
Short-Term Bond

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. 

Morningstar Style Box
As of 07/31/2025
Current Historical
High
Medium
Low
LTD MOD EXT
Duration
Quality

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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Distributions & Tax

Distribution Frequency
MonthlyThis fund is an ex-Dividend fund
Capital Gain Distributions
December

Distributions are not guaranteed and are subject to change.

Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.

Distributions Per Share
Distribution amounts may be estimates

08/01/2025
07/01/2025
06/02/2025
05/01/2025
04/01/2025
03/03/2025
02/03/2025

Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.

The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.

Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.

Skipped to Documents Section Content

Documents

Regulatory Documents
 Name Download Add to Cart
Annual Report - Western Asset Short Duration Income ETF - Single ClassMailed hardcopies unavailable.Download Document
Annual Financial Statements and Other Information - Western Asset ETF FundsDownload Document
Semi-Annual Report - Western Asset Short Duration Income ETF - Single ClassMailed hardcopies unavailable.Download Document
Semi-Annual Financial Statements and Other Information - Western Asset Total Return ETF (WBND)Download Document
Prospectus - Western Asset Short Duration Income ETFMailed hardcopies unavailable.Download Document
Summary Prospectus - Western Asset Short Duration Income ETFMailed hardcopies unavailable.Download Document
Statement of Additional Information - Western Asset ETFsMailed hardcopies unavailable.Download Document
Fiscal Q1 Holdings - Western Asset ETFsMailed hardcopies unavailable.Download Document
Fiscal Q3 Holdings - Western Asset ETFsMailed hardcopies unavailable.Download Document
Distribution Reclassifications (2018)Mailed hardcopies unavailable.Download Document
Qualified Dividend Income Percentage for Individual Shareholders (2018)Mailed hardcopies unavailable.Download Document
Western Asset Short Duration Income ETF Prospectus SupplementMailed hardcopies unavailable.Download Document

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Risks

All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Leverage increases the volatility of investment returns and subjects investments to magnified losses and a decline in value. Active and frequent trading may increase a shareholder’s tax liability and transaction costs. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. When the fund’s size is small, the fund may experience low trading volume and wide bid/ask spreads. Active management does not ensure gains or protect against market declines. These and other risks are discussed in the fund’s prospectus.

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Important Information

Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results. 

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 

All investments involve risk, including possible loss of principal. Please see each product's web page for specific details regarding investment objective, risks, performance, and other important information. Review this information carefully before you make any investment decision. Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully.

Franklin Templeton, its affiliated companies, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor. 

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below their net asset value. Brokerage commissions and ETF expenses will reduce returns. ETF shares may be bought or sold throughout the day at their market price (MP), not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market. Prior to trading in the secondary market, shares of the fund are "created" at NAV by market makers, large investors and institutions only in block-size Creation Units. Each "creator" or "Authorized Participant" enters into an authorized participant agreement with Franklin Distributors, LLC. Only an Authorized Participant may create or redeem Creation Units directly with the fund. Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.

Franklin Distributors, LLC serves as the distributor of Creation Units for the ETFs on an agency basis. Franklin Distributors, LLC does not maintain a secondary market in the funds' shares. 

Redemption payments will be effected within the specified number of calendar days following the date on which a request for redemption in proper form is made. For more information, please see the ETF’s statement of additional information (SAI) which can be found on the fund’s webpage.

The Bloomberg U.S. Corporate 1-3 Year Index measures the performance of the U.S. dollar-denominated, investment-grade, fixed-rate, taxable one- to three-year maturity corporate (industrial, financial institutions, utility) bond market. Source: Bloomberg Indices.

Authorized participants ("APs") may acquire shares in the primary market directly from the ETFs and may tender their shares for redemption directly to the ETFs, at net asset value per share only in Creation Units or Creation Unit Aggregations. Once created, shares of the funds generally trade in the secondary market in amounts less than a Creation Unit.

Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.

Exchange Traded Funds (ETFs) — A type of investment company which is bought and sold on a securities exchange. ETFs generally represent a portfolio of securities, derivative instruments, currencies or commodities. The risks of owning an ETF generally reflect the risks of owning the underlying securities or commodities the ETF is designed to track. ETFs also have management fees and operating expenses that increase their costs.

Franklin Resources, Inc., its specialized investment managers, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

Footnotes

  1. Net Asset Value (NAV) returns are based on the NAV of the ETF/ETP. The fund’s NAV represents the per-share-value and is determined by dividing the total NAV of the fund by the number of shares outstanding; Market Price returns are based upon the official closing price of the ETF’s/ETP's shares. The fund calculates the NAV per share each business day and normally coincides with the close of trading on the exchange on which they are listed, typically 4 pm ET. The fund does not calculate the NAV on days the exchange is closed for trading. These returns do not represent investors’ returns had they traded shares at other times. 

  2. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  3. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. 
    ©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

  4. During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.

  5. With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.

  6. 30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.

  7. Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the closing market price or NAV as of the date indicated. The Distribution Rate calculation includes income and return of capital, and excludes special distributions. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance.

  8. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.

  9. Net Expense Ratio represents the expense ratio applicable to investors. 

  10. Trading prices of a fund's shares in the secondary market generally differ from a fund's daily NAV and are affected by market forces such as supply and demand, economic conditions and other factors. Information regarding the intraday value of a fund’s shares, also known as the "indicative optimized portfolio value" ("IOPV"), are disseminated every 15 seconds throughout the trading day by the national securities exchange on which the fund's shares are listed or by market data vendors or other information providers. Therefore, the IOPV should not be viewed as a "real-time" update of the fund's NAV, which is computed only once a day.