If You Invested in Western Asset Short Duration Inc ETF (WINC)

Western Asset Short Duration Income ETF, trading under the symbol WINC, was an exchange-traded fund listed on the Nasdaq Stock Market LLC. WINC was part of the Legg Mason ETF Investment Trust and was associated with Western Asset, an investment management brand within the Franklin Templeton family. According to available regulatory filings, WINC’s shares were listed and registered on Nasdaq and later removed from listing and registration through a formal delisting process.

Fund structure and listing

WINC was issued by Legg Mason ETF Investment Trust, as identified in its Form 25 filing with the U.S. Securities and Exchange Commission (SEC). The fund’s shares traded on Nasdaq, giving investors intraday access to its portfolio through standard brokerage accounts. As an ETF, WINC was organized under an investment trust structure and was overseen by a board of trustees, which had authority over key decisions affecting the fund.

Liquidation and delisting

Franklin Templeton announced that Western Asset Short Duration Income ETF (WINC) would be liquidated and dissolved following approval by the fund’s board of trustees. The announcement stated that the liquidation was anticipated to occur on or about August 29, 2025. Trading in WINC on Nasdaq was scheduled to be halted prior to the market open on August 23, 2025, with the fund’s shares no longer trading on Nasdaq after the market close on August 22, 2025.

A subsequent Form 25 filing with the SEC, submitted by Nasdaq Stock Market LLC, provided formal notice of the removal of Western Asset Short Duration Income ETF from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934. The filing confirmed that the exchange had complied with its rules to strike the class of securities from listing and that the issuer had complied with applicable requirements for voluntary withdrawal from listing and registration.

Process for shareholders during liquidation

According to Franklin Templeton’s announcement, shareholders of WINC could sell their shares on Nasdaq up to the market close on August 22, 2025, and would incur the usual brokerage commissions associated with such sales. After this date, the shares would no longer trade on Nasdaq and would be subsequently delisted. At the time the liquidation of the fund was completed, any remaining shares would be individually redeemed.

Shareholders who did not sell their shares before the trading halt were expected to receive cash equal to the net asset value of their shares, including any capital gains and dividends, on or about August 29, 2025. The announcement also noted that, as the fund’s portfolio was liquidated, WINC would hold cash and securities that might not be consistent with its stated investment objectives and strategies during the wind-down period.

Tax considerations highlighted in the announcement

The liquidation notice explained that, for shareholders with taxable accounts and for Federal, state, and local income tax purposes, liquidation proceeds would generally be treated as received in exchange for their shares. As a result, shareholders would typically recognize a taxable gain or loss. It was also noted that, in connection with the liquidation, the fund might declare taxable distributions of its income and/or capital gains. The announcement advised shareholders to consult their tax advisers regarding the implications of the liquidation in light of their individual circumstances.

Relationship to Franklin Templeton

Franklin Templeton, through its subsidiaries, is described in the announcement as a global investment management organization operating under the Franklin Templeton name. The company states that it offers capabilities in equity, fixed income, alternatives, and multi-asset solutions, and that it operates through specialist investment managers. Western Asset-branded ETFs such as WINC were part of this broader investment management platform.

How investors may use this information

For investors researching WINC, the key points from the available information are that Western Asset Short Duration Income ETF was an exchange-traded fund of Legg Mason ETF Investment Trust, listed on Nasdaq, and that its board approved a plan of liquidation and dissolution. The fund’s trading on Nasdaq was scheduled to cease in August 2025, followed by delisting and cash distributions to remaining shareholders based on net asset value. The SEC Form 25 filing documents the regulatory step of removing the fund’s shares from listing and registration.

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