Key Highlights

  • The fund is actively managed and holds 496 companies and issuers.
  • Bonds make up 95.46% of the portfolio, spread across Australia, the United Kingdom, France and the United States.
  • The management fee is 0.50%, which is the highest among the fixed income funds in this series.
  • The top ten holdings make up 6.97% of the fund, reflecting a very broad portfolio.

Western Asset Enhanced Income Fund Active ETF (ASX:FEIF) is an actively managed fixed income fund that seeks higher risk-adjusted returns by combining top-down economic views with issuer-level analysis. The units were listed at $1.11, and the management fee is 0.50%. The fund was admitted to the ASX on 10 June 2026, so it has a short trading history on the exchange, and its portfolio can range widely across Credit sectors.

Ticker

ASX:FEIF

Listed price

$1.11

Management fee

0.50%

Benchmark

Bloomberg AusBond Bank 0+Y TR AUD

Holdings

496 companies

Portfolio make-up

Bonds make up 95.46% of the fund, with cash at 3.02% and other Assets at 3.04%. Australia accounts for 66.46%, the United Kingdom 8.20%, France 7.71%, the United States 7.69% and Germany 3.29%. The top ten holdings make up 6.97%, including subordinated and hybrid issues from banks and insurers, such as UBS Group and National Australia Bank.

The listing gives an unusual sector split, with basic materials and industrials each near 50%, which reflects how the bonds are classified rather than a sector bet by the manager.

Income and costs

The management fee is 0.50%, which is higher than the broad index funds. The listing does not show an annual yield, so investors should look to the fund's distribution details for income information. The monthly distribution on the most recent listing was small in dollar terms.

Risks to weigh

Unconstrained funds can take wide positions across credit, duration and currency, so their risks can change over time. Results depend on the manager's decisions, and an active approach can underperform its benchmark. The listed benchmark is a bank bond index, which may not reflect how the fund is managed. Investors should check how the fund's mandate fits their own needs.

Final Word

The Western Asset Enhanced Income Fund Active ETF offers an actively managed, broadly diversified fixed income portfolio at a higher fee. Its short listing history and flexible mandate mean investors will rely heavily on the manager's decisions over time.