WESTERN ASSET HIGH YIELD DEF, ETF

Western Asset High Yield Defined Opportunity Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund’s primary investment objective is to provide high income. As a secondary investment objective, the Fund will seek capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in a portfolio of high-yield corporate fixed-income securities with varying maturities. The Fund may also invest up to 20% of its net assets in fixed income securities issued by the United States or foreign governments, agencies and instrumentalities and/or fixed income securities that are of investment grade quality. It invests in various sectors, including Consumer Cyclical, Communications, Energy, Consumer Non-Cyclical, Capital Goods, Finance, Technology, Transportation, EM Government, Basic Industry, and Other. Franklin Templeton Fund Adviser, LLC is the Fund’s investment manager. more