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Name

As of 04/30/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

WESTERN ASSET SHORT DURATION INCOME ETF

WINC | Active ETF

$23.76

$10.7 M

4.83%

$1.15

0.29%

Vitals

YTD Return

0.6%

1 yr return

5.7%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

2.0%

Net Assets

$10.7 M

Holdings in Top 10

44.3%

52 WEEK LOW AND HIGH

$23.8
$23.14
$24.00

Expenses

OPERATING FEES

Expense Ratio 0.29%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 28.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/30/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

WESTERN ASSET SHORT DURATION INCOME ETF

WINC | Active ETF

$23.76

$10.7 M

4.83%

$1.15

0.29%

WINC - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.69%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    WESTERN ASSET SHORT DURATION INCOME ETF
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Feb 07, 2019
  • Shares Outstanding
    1150000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Blanton Keh

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in fixed income securities. Corporate debt securities, including notes, bonds, debentures and commercial paper, are fixed income securities usually issued by businesses to finance their operations. These securities may be secured or unsecured, may be issued by U.S. or foreign entities and may carry variable or floating rates of interest. The fund may invest in Rule 144A securities. The fund may also invest in other short-duration fixed-income securities, such as floating rate loans and structured debt and in cash or cash equivalents such as money market securities. Securities in which the fund will invest will be U.S. dollar-denominated although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation, or a foreign government or its agencies and instrumentalities, including those in emerging markets.
Although the fund may invest in securities of any maturity, the fund will normally maintain an effective duration, as estimated by the subadviser, of approximately two years. Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of structural complexities (for example, some bonds can be prepaid by the issuer). Generally, the longer a fund’s effective duration, the more sensitive it will be to changes in interest rates. For example, if interest rates rise by 1%, a fund with a two-year effective duration would expect the value of its portfolio to decrease by 2% and a fund with a ten-year effective duration would expect the value of its portfolio to decrease by 10%, all other factors being equal.
The fund may invest in investment grade securities. Investment grade securities are those rated by a rating agency at the time of purchase in one of the top four ratings categories (e.g., BBB- or higher by S&P Global Ratings (“S&P”) or Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, are judged by the subadviser to be of comparable credit quality. The fund may also invest up to 35% of its assets in fixed income securities that are below investment grade (e.g., BB+ or lower by S&P or Ba1 or lower by Moody’s or, if unrated, are judged by the subadviser to be of comparable credit quality), including up to 5% of its assets in fixed income securities whose highest rating is rated below BB- by S&P or Ba3 by Moody’s or, if unrated, are judged by the subadviser to be of comparable credit quality. Below investment grade securities are commonly known as “junk bonds” or “high yield securities.”
The fund may also invest up to 15% of its assets in mortgage-backed securities (“MBS”) and asset-backed securities (“ABS”), including collateralized debt obligations (“CDOs”).
The fund may use derivatives, including options, forwards, interest rate swaps and other swaps (including buying and selling credit default swaps and options on credit default swaps) and futures contracts that are intended to provide economic exposure to the securities or issuer or to be used as a hedging technique, in order to change the investment characteristics of its portfolio (such as shortening or lengthening duration) and/or for other purposes.
Read More

WINC - Performance

Return Ranking - Trailing

Period WINC Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -4.4% 11.2% 33.45%
1 Yr 5.7% -3.5% 25.7% 8.56%
3 Yr -0.1%* -6.8% 4.0% 58.29%
5 Yr 2.0%* -4.5% 4.3% 16.73%
10 Yr N/A* -19.2% 169.6% 4.92%

* Annualized

Return Ranking - Calendar

Period WINC Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -5.4% 7.6% 49.09%
2022 -9.5% -17.7% -2.6% 89.61%
2021 -1.2% -4.0% 4.4% 17.43%
2020 1.5% -8.3% 7.6% 59.80%
2019 N/A -2.3% 9.3% N/A

Total Return Ranking - Trailing

Period WINC Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -4.4% 11.2% 33.45%
1 Yr 5.7% -3.5% 25.7% 8.56%
3 Yr -0.1%* -6.8% 4.0% 58.29%
5 Yr 2.0%* -4.5% 4.3% 16.73%
10 Yr N/A* -19.2% 169.6% N/A

* Annualized

Total Return Ranking - Calendar

Period WINC Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -1.1% 15.2% 20.99%
2022 -7.3% -17.3% -1.3% 89.24%
2021 0.7% -2.7% 7.7% 26.63%
2020 5.7% -4.4% 14.5% 17.06%
2019 N/A 0.6% 12.6% N/A

WINC - Holdings

Concentration Analysis

WINC Category Low Category High WINC % Rank
Net Assets 10.7 M 14.5 K 57.3 B 97.83%
Number of Holdings 175 2 9251 80.87%
Net Assets in Top 10 4.76 M 993 K 6.33 B 97.29%
Weighting of Top 10 44.30% 1.8% 108.7% 14.80%

Top 10 Holdings

  1. BNY CASH RESERVE 25.05%
  2. UBS Group AG 2.48%
  3. Halcyon Loan Advisors Funding 2017-2 Ltd 2.33%
  4. CIFC Funding 2017-II Ltd 2.32%
  5. ZF North America Capital Inc 2.30%
  6. Melco Resorts Finance Ltd 2.17%
  7. Neuberger Berman Loan Advisers Clo 42 Ltd 1.95%
  8. Enel Finance International NV 1.91%
  9. BNP Paribas SA 1.90%
  10. Swedbank AB 1.90%

Asset Allocation

Weighting Return Low Return High WINC % Rank
Bonds 		95.33% 0.00% 130.36% 24.73%
Cash 		25.05% -20.59% 62.18% 0.90%
Convertible Bonds 		5.34% 0.00% 27.71% 12.48%
Other 		0.32% -0.97% 72.36% 68.59%
Stocks 		0.21% 0.00% 103.64% 19.68%
Preferred Stocks 		0.00% 0.00% 22.27% 53.43%

Stock Sector Breakdown

Weighting Return Low Return High WINC % Rank
Utilities 		0.00% 0.00% 81.48% N/A
Technology 		0.00% 0.00% 24.45% N/A
Real Estate 		0.00% 0.00% 8.31% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 23.11% N/A
Financial Services 		0.00% 0.00% 100.00% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 65.64% N/A
Consumer Defense 		0.00% 0.00% 21.37% N/A
Consumer Cyclical 		0.00% 0.00% 10.75% N/A
Basic Materials 		0.00% 0.00% 22.71% N/A

Stock Geographic Breakdown

Weighting Return Low Return High WINC % Rank
US 		0.21% 0.00% 103.64% 19.68%
Non US 		0.00% 0.00% 0.02% 47.11%

Bond Sector Breakdown

Weighting Return Low Return High WINC % Rank
Corporate 		89.20% 0.00% 100.00% 5.24%
Cash & Equivalents 		25.05% 0.00% 62.18% 0.72%
Securitized 		3.62% 0.00% 97.27% 89.33%
Government 		2.49% 0.00% 73.63% 86.98%
Municipal 		0.11% 0.00% 17.46% 38.34%
Derivative 		0.10% -0.55% 28.01% 22.74%

Bond Geographic Breakdown

Weighting Return Low Return High WINC % Rank
US 		95.33% 0.00% 130.36% 23.47%
Non US 		0.00% 0.00% 83.16% 56.68%

WINC - Expenses

Operational Fees

WINC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.29% 0.01% 3.24% 89.98%
Management Fee 0.29% 0.00% 1.19% 38.45%
12b-1 Fee 0.00% 0.00% 1.00% 7.32%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

WINC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

WINC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

WINC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 2.00% 500.00% 11.34%

WINC - Distributions

Dividend Yield Analysis

WINC Category Low Category High WINC % Rank
Dividend Yield 4.83% 0.00% 10.20% 8.30%

Dividend Distribution Analysis

WINC Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

WINC Category Low Category High WINC % Rank
Net Income Ratio 1.69% -1.27% 4.98% 20.85%

Capital Gain Distribution Analysis

WINC Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

WINC - Fund Manager Analysis

Managers

Blanton Keh

Start Date

Tenure

Tenure Rank

Feb 07, 2019

3.31

3.3%

Blanton Y. Keh, CFA, is a Portfolio Manager at Western Asset and has more than 18 years of experience. Prior to joining Western Asset in 2004, Mr. Keh was a Portfolio Manager at Banc of America Capital Management, and Market Risk Manager at Bank of America. Mr. Keh holds a B.S. from California State Polytechnic University, Pomona, a M.S. from the University of California, and an M.B.A. from the Anderson Graduate School of Management, UCLA. He also holds the Chartered Financial Analyst designation.

Michael Buchanan

Start Date

Tenure

Tenure Rank

Feb 07, 2019

3.31

3.3%

– Western Asset Management Company, LLC – Deputy Chief Investment Officer, 2005– – Credit Suisse Asset Management – Managing Director, Head of U.S. Credit Products, 2003–2005 – Janus Capital Management – Executive Vice President, Portfolio Manager, 2003 – BlackRock Financial Management – Managing Director, Portfolio Manager, 1998–2003 – Conseco Capital Management – Vice President, Portfolio Manager, 1990–1998 – Brown University, B.A. – Chartered Financial Analyst

Ryan Brist

Start Date

Tenure

Tenure Rank

Feb 07, 2019

3.31

3.3%

– Western Asset Management Company, LLC – Head of Global Investment Grade Credit/Portfolio Manager, 2009- – Logan Circle Partners, L.P. – Chief Investment Officer, Portfolio Manager, 2007-2009 – Delaware Investment Advisors – Co-Chief Investment Officer, Sr. Portfolio Manager, 2000-2007 – Conseco Capital Management – Vice President, Corporate Bond Trading, 1995-2000 – Dean Witter Reynolds – Analyst, Corporate Finance, Retail Products Group, 1993-1995 – Indiana University, B.S. Finance – Chartered Financial Analyst

Kurt Halvorson

Start Date

Tenure

Tenure Rank

Feb 07, 2019

3.31

3.3%

Kurt D. Halvorson, CFA, is a Portfolio Manager at Western Asset and has more than 17 years of experience. Prior to joining Western Asset in 2010, Mr. Halvorson was a Senior Corporate Bond Manager at Aegon USA Investment Management, Senior Trader at 40/86 Advisors, LLC and was an Associate in Corporate Bond Trading at Banc of America Securities, LLC. Mr. Halvorson holds a B.A. in Business from Covenant College. He also holds the Chartered Financial Analyst designation.

S. Leech

Start Date

Tenure

Tenure Rank

Feb 07, 2019

3.31

3.3%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Dan Alexander

Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Portfolio Manager and has been employed by Western Asset as an investment professional for at least the past five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.14 2.41

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