Western Asset Total Return ETF

Frequently Asked Questions About WBND

What does WBND invest in?

Under normal market conditions, the fund will seek its investment objective by investing at least 80% of its assets in a portfolio comprised of fixed income securities, debt instruments, derivatives, 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, cash and cash equivalents, foreign currencies, and exchange-traded funds ("ETFs") that provide exposure to these investments.

What is the expense ratio of WBND?

Western Asset Total Return ETF (WBND) charges an expense ratio of 0.69%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of WBND?

Effective duration measures WBND's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. WBND's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of WBND?

WBND's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of WBND?

Yield to maturity (YTM) is the total return you'd earn from WBND if every bond in the portfolio is held to maturity at the current price. WBND's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.

How big is WBND?

Western Asset Total Return ETF (WBND) manages $10.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.