Western Asset Bond ETF

C000243867 Fund Overview

Western Asset Bond ETF is a US ETF managed by Franklin Templeton ETF Trust, categorised as Long Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Franklin Templeton ETF Trust
• Category: Long Total / Aggregate Bond
• Assets under management: $16.23M
• 1-year return: 3.9%
• SEC CIK: 0001655589
• SEC series ID: S000081195
• Share class ID: C000243867

C000243867 Investment Objective and Strategy

Western Asset Bond ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Franklin Templeton ETF Trust.

Investment objective

To maximize total return consistent with prudent investment management and liquidity needs.

Principal investment strategy

The Fund invests in a portfolio comprised of debt instruments and fixed income securities of various maturities. As used in the Funds name, the Fund defines bonds as debt and fixed income securities of all types. Under normal market conditions, the Fund will seek its investment objective by investing at least 80% of its net assets, including the amount of borrowing for investment purposes, if any, in debt and fixed income securities (Principal Investments). Securities that have economic characteristics and provide investment exposure similar to debt and fixed income securities will be counted towards the Funds 80% investment policy. As part of its 80% policy, the Fund intends to invest in derivatives that (i) provide exposure to the Principal Investments, (ii) are used to risk manage the Funds holdings, and/or (iii) are used to enhance returns.

The risk management uses of derivatives will include managing (i) investment-related risks, (ii) risks due to fluctuations in securities prices or interest rates, (iii) risks due to the credit-worthiness of an issuer, and (iv) the effective duration of the Funds portfolio. The types of derivatives in which the Fund will invest include swaps and security-based swaps, futures and options on futures, swaptions and security options. The Fund may also hold U.S. Treasury securities, cash and cash equivalents. Although the Fund may invest in debt and fixed income securities of any maturity, under normal market conditions, the target dollar-weighted average effective duration for the Fund is expected to range within 20% of the average duration of the domestic bond market as a whole as estimated by the sub-advisor (generally, this range is 3-7 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). The types of fixed income securities in which the Fund may invest include corporate debt securities, U.S. and non-U.S. government securities, asset-backed securities (ABS), mortgage-backed securities (MBS) (including commercial MBS (CMBS), residential MBS (RMBS) and non-agency collateralized mortgage obligations (CMOs)), collateralized debt obligations (CDOs) and mortgage dollar rolls. The fixed income securities and debt instruments in which the Fund may invest may pay fixed, variable or floating rates of interest. The Fund will not invest more than 10% of the Funds total assets in CDOs.

The Fund will also not invest more than 20% of its total assets in bank loans including junior loans (e.g., debt instruments that are unsecured and subordinated). The Fund may also invest in credit-linked securities. Credit-linked securities, which may be considered to be a type of structured investment, are debt securities that represent an interest in a pool of, or are otherwise collateralized by, one or more corporate debt obligations or credit default swaps on corporate debt or bank loan obligations. The Fund may invest up to 20% of its assets in below investment grade fixed income securities or debt instruments. For these purposes, investment grade is defined as investments with a rating at the time of purchase in one of the four highest categories of at least one nationally recognized statistical rating organization (NRSRO) (e.g., BBB- or higher or Baa3 or higher) or, if unrated, securities of comparable quality at the time of purchase (as determined by the sub-advisor).

Securities rated below investment grade (e.g., BB+ to D or Baa1 to C) or, if unrated, securities of comparable quality at the time of purchase (as determined by the sub-advisor) are commonly known as junk bonds or high yield securities. The Fund may invest in securities issued by both U.S. and non-U.S. issuers (including issuers in emerging markets) but the Fund will not invest more than 25% of its total assets in the securities or debt instruments of non-U.S. issuers. The Fund presently intends to limit its investments to U.S. dollar denominated securities. The Fund may engage in active and frequent trading as part of its investment strategies. The Fund may also hold equity securities of any type acquired in reorganizations of issuers of fixed income securities or debt instruments (work out securities), non-convertible preferred securities, warrants and exchange-traded funds (ETFs).

Western Assets investment process combines top-down and bottom-up analyses. The Funds portfolio managers, with support from a broad investment management team (collectively, the Investment Professionals) conduct bottom-up fundamental research and provide input into the top-down perspectives. This top-down view translates into a set of strategies regarding duration, yield curve, country, currency and sector. The Investment Professionals provide fundamental analysis at sector and subsector levels. The Investment Professionals use a security-specific process in order to assess whether securities are mispriced or undervalued in their opinion and select securities for the Funds portfolio. The Investment Professionals also conduct an ongoing assessment of changing credit characteristics and of securities with characteristics such as assets perceived to be overlooked or under-appreciated, floating or fixed interest rates, credit quality and securities issued in mergers, as well as newly-issued securities.

Using sector and issue analyses, the Investment Professionals select issues opportunistically in order to exploit perceived mispricings versus long-term fundamental value that exist in the market. The subadviser monitors a broad set of factors that may prompt it to consider selling or reducing a position focused on the risk/reward characteristics of a credit.

C000243867 Holdings

Top 10 holdings of Western Asset Bond ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000243867 holdings

C000243867 Portfolio Allocation

Asset-class allocation of Western Asset Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000243867 Performance

Total returns for C000243867 (as of 2026-10-01), from SEC filings.

C000243867 Risk Information

Risk metrics for C000243867, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 3.3%

C000243867 Costs and Fees

C000243867 costs about $35 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.35%
• Gross expense ratio: 0.35%
• Portfolio turnover: 336%
• Brokerage commissions: 1.47 bps of average net assets (SEC N-CEN)

C000243867 Cashflows

Over the 12 months to 2026-06, Western Asset Bond ETF had net inflows of $0, from monthly SEC N-PORT filings.

C000243867 Debt Constituents

Largest debt holdings of Western Asset Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000243867 Prospectus and SEC Filings

Official Western Asset Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-07-27
• Prospectus (485BPOS) — filed 2025-07-28
• Prospectus (485BPOS) — filed 2024-07-26
• Portfolio holdings (N-PORT) — filed 2026-08-27
• Portfolio holdings (N-PORT) — filed 2026-05-21
• Portfolio holdings (N-PORT) — filed 2026-02-26
• Annual census (N-CEN) — filed 2026-06-12
• Annual census (N-CEN) — filed 2025-06-12

Related Funds

Other Long Total / Aggregate Bond funds tracked on ABC INVEST:

• Dodge & Cox Income Fund (DODIX)
• Bond Fund Of America (ABNDX)
• Fidelity U.S. Bond Index Fund (FUBFX)
• Baird Aggregate Bond Fund (BAGIX)
• PGIM Total Return Bond Fund (PDBAX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.