ETF Evaluator:
Western Asset Bond ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 8.9% | Infrastructure Capital Bond Income ETF (BNDS) |
| 5.2% | Monarch Ambassador Income ETF (MAMB) |
| 4.1% | SanJac Alpha Core Plus Bond ETF (SJCP) |
| 4.1% | F/m Opportunistic Income ETF (ZHOG) |
| 3.9% | PIMCO Active Bond ETF (BOND) |
Risk
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Risk
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ETF Details
Western Asset Bond ETF Overview
Western Asset Bond ETF (WABF) is an actively managed Taxable Bond Intermediate Core-Plus Bond exchange-traded fund (ETF). Franklin Templeton Investments launched the ETF in 2023.
The investment seeks to maximize total return consistent with prudent investment management and liquidity needs.
The fund invests in a portfolio comprised of debt instruments and fixed income securities of various maturities. The fund may also invest in credit-linked securities.
About Western Asset Bond ETF (WABF)
There are 7 members of the management team with an average tenure of 2.06 years: Julien Scholnick (2023), Amit Chopra (2026), Nicholas Mastroianni (2023), Rafael Zielonka (2026), Mark Lindbloom (2023), Michael Buchanan (2024) and Frederick Marki (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Western Asset Bond ETF has 478 securities in its portfolio. The top 10 holdings constitute 28.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Western Asset Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Western Asset Bond ETF has 15.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 108.8% (93.7% domestic bond, 15.0% foreign bond and 0.1% convertible bond). Western Asset Bond ETF has 2.8% of the portfolio in cash.
Assets Under Management
The fund has $15 million in total assets, which is below the $2 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
WABF Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Western Asset Bond ETF expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Western Asset Bond ETF has an expense ratio of 0.35%, which is 20% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Western Asset Bond ETF has a portfolio turnover rate of 336%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Western Asset Bond ETF returned -1.5%, which earned it a grade of F, as the Intermediate Core-Plus Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Western Asset Bond ETF has a trailing yield of 5.26%, which is above the 4.67% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Western Asset Bond ETF Grades
Year to date, the ETF has returned -0.9%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.8% over the past year (grade of D).
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WABF Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WABF Return (NAV) | -1.5% | -1.0% | 2.8% | na | na | na |
| WABF Return (Price) | -1.5% | -0.9% | 2.9% | na | na | na |
| NAV +/- Price Return | 0.006% | -0.114% | -0.143% | na | na | na |
| Intermediate Core-Plus Bond Avg | -1.2% | -0.6% | 3.2% | 4.6% | 0.4% | 2.1% |
| WABF Grade (NAV) | F | F | D | na | na | na |
| +/- Category (NAV) | -0.3% | -0.4% | -0.4% | na | na | na |
| WABF Tax-Cost Ratio | na | na | 2.1% | na | na | na |
WABF Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WABF Return (NAV) | -0.9% | 7.8% | 1.2% | na | na | na | na | na | na | na | na |
| WABF Return (Price) | -0.8% | 7.9% | 1.3% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.079% | 0.010% | 0.092% | na | na | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.2% | 7.5% | 3.0% | 6.6% | -13.2% | -0.7% | 8.0% | 9.8% | -0.2% | 4.3% | 4.9% |
| WABF Grade (NAV) | F | B | F | na | na | na | na | na | na | na | na |
| +/- Category | -0.6% | 0.4% | -1.8% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 5.3% |
| Total Assets: | $ 16 Mil |
| Share Class Assets: | $ 16 Mil |
| Turnover: | 336.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 7 | |||
| Longest Tenure: 2.9 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Scholnick Julien (2023), Mastroianni Nicholas (2023), Lindbloom Mark (2023), Marki Frederick (2023), Buchanan Michael (2024), Zielonka Rafael (2026), Chopra Amit (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 478 |
| % in Top 10 Holdings: | 28.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.3% |
| Domestic Bond: | 93.7% |
| Foreign Bond: | 15.0% |
| Convertible Bond: | 0.1% |
| Other: | -12.0% |
| Cash: | 2.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | etf.franklintempleton.com |
| Inception Date: | September 19, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.44% |
