Fund Description: Western Asset Short Duration Income ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Legg Mason ETF Investment Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Western Asset Short Duration Income ETF seeks current income. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Rather, the Adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. FUND STRATEGY: Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in investment grade 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 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. Although the fund may invest in securities of any maturity, the fund will normally maintain an effective duration, as estimated by the subadviser, of three years or less. The fund may also invest up to 15% of its assets in mortgage-backed securities and asset-backed securities, including collateralized debt obligations. FUND MANAGEMENT: Legg Mason Partners Fund Advisor serves as the Adviser to the Fund. Harvest Western Asset Management Company, LLC serves as the Sub-Advisor to the Fund.