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SHMMX Western Asset Managed Municipals A

  • Fund
  • SHMMX
  • Price as of: Jun 19, 2018
  • $16.04
  • + $0.02
  • + 0.13%
  • Category
  • National Munis

SHMMX - Profile

Vitals

  • YTD Return -2.0%
  • 3 Yr Annualized Return 2.5%
  • 5 Yr Annualized Return 2.7%
  • Net Assets $4.76 B
  • Holdings in Top 10 10.5%

52 WEEK LOW AND HIGH

$16.04
$15.90
$16.48

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.68%

SALES FEES

  • Front Load 4.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return -2.0%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.83%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Western Asset Managed Municipals Fund
  • Fund Family Name Legg Mason
  • Inception Date Mar 04, 1981
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager David T. Fare

SHMMX - Performance

Return Ranking - Trailing

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.0% -13.2% 99.4% 56.80% 5
1 Yr 1.8% -5.8% 10.7% 21.01% 2
3 Yr 2.5% * -4.5% 7.0% 29.21% 2
5 Yr 2.7% * -0.6% 5.8% 25.44% 2
10 Yr 4.5% * -0.6% 5.9% 11.88% 1

* Annualized


Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.5% -5.3% 5.6% 32.43% 3
2016 -3.5% -8.5% 7.3% 60.17% 5
2015 -1.1% -10.9% 8.8% 55.21% 5
2014 6.6% -10.3% 12.0% 13.13% 1
2013 -8.1% -11.9% 8.7% 64.88% 5

Total Return Ranking - Trailing

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.0% -13.2% 99.4% 56.63% 5
1 Yr -2.5% -8.9% 8.9% 80.78% 5
3 Yr 1.0% * -5.4% 7.0% 64.26% 4
5 Yr 1.8% * -1.6% 5.8% 49.65% 3
10 Yr 4.0% * -0.6% 5.9% 21.25% 2

* Annualized


Total Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.5% -5.3% 5.6% 32.43% 3
2016 -3.5% -8.2% 7.3% 63.93% 5
2015 -1.1% -9.7% 9.3% 64.10% 5
2014 6.6% -10.3% 17.0% 17.51% 2
2013 -8.1% -11.9% 8.9% 67.75% 5

NAV & Total Return History

SHMMX - Holdings

Filings data as of: Mar 31, 2018

Concentration Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Net Assets 4.76 B 491 K 58 B 4.19% 1
Number of Holdings 677 1 7665 9.03% 2
Net Assets in Top 10 516 M -281 M 1.45 B 2.58% 1
Weighting of Top 10 10.5% 0.0% 100.0% 26.61% 4

Top 10 Holdings

  1. M-S-R ENERGY AUTH CALIF GAS REV BDS 2009B 1.71%
  2. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY SR LIEN REF REV BDS 20 1.41%
  3. PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR NATURAL GAS REV BDS 2008 1.30%
  4. JEFFERSON CNTY ALA SWR REV WTS F 1.19%
  5. ATLANTA GA REF REV BDS 2009A 1.12%
  6. NEW YORK ST DORM AUTH REV BDS 2010 0.78%
  7. M-S-R ENERGY AUTH CALIF GAS REV BDS 2009B 0.78%
  8. CALIFORNIA HEALTH FACS FING AUTH REF REV BDS 2010-B 0.77%
  9. PORT AUTH N Y & N J CONSOLIDATED BONDS SER 194 0.75%
  10. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN REV BDS 2009-E 0.74%

Asset Allocation

Weighting Category Low Category High SHMMX % Rank Quintile
Bonds
99.96% 0.00% 202.21% 1.45% 1
Cash
0.04% -110.85% 100.00% 31.45% 5
Stocks
0.00% 0.00% 1.01% 1.13% 2
Preferred Stocks
0.00% 0.00% 10.38% 0.81% 2
Other
0.00% -2.77% 27.17% 5.97% 2
Convertible Bonds
0.00% 0.00% 2.36% 0.65% 2

Bond Sector Breakdown

Weighting Category Low Category High SHMMX % Rank Quintile
Municipal
99.96% 0.00% 121.37% 1.77% 1
Cash & Equivalents
0.04% -110.85% 100.00% 30.16% 5
Derivative
0.00% -5.91% 4.93% 0.65% 2
Securitized
0.00% 0.00% 37.31% 2.26% 2
Corporate
0.00% 0.00% 35.99% 4.52% 2
Government
0.00% -22.20% 117.34% 5.16% 2

Bond Geographic Breakdown

Weighting Category Low Category High SHMMX % Rank Quintile
US
99.96% 0.00% 202.21% 1.13% 1
Non US
0.00% 0.00% 25.10% 12.74% 3

SHMMX - Expenses

Operational Fees

SHMMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.68% 0.08% 4.60% 18.52% 2
Management Fee 0.45% 0.00% 1.00% 2.25% 4
12b-1 Fee 0.15% 0.00% 1.00% 5.38% 1
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

SHMMX Fees (% of AUM) Category Low Category High SHMMX Rank Quintile
Front Load 4.25% 0.50% 5.75% 2.60% 4
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

SHMMX Fees (% of AUM) Category Low Category High SHMMX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SHMMX Fees (% of AUM) Category Low Category High SHMMX Rank Quintile
Turnover 14.00% 0.42% 504.54% 15.46% 1

SHMMX - Distributions

Dividend Yield Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Dividend Yield 0.7% 0.00% 1.01% 0.65% 1

Dividend Distribution Analysis

SHMMX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Net Income Ratio 3.83% -0.41% 5.26% 4.35% 1

Capital Gain Distribution Analysis

SHMMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SHMMX - Managers

David T. Fare

Manager

Start Date

Dec 31, 2004

Tenure

13.42

Tenure Rank

5.3%

David T. Fare is a Portfolio Manager at Western Asset. He has been with Western Asset since 2005.


Robert E. Amodeo

Manager

Start Date

Feb 02, 2007

Tenure

11.33

Tenure Rank

7.2%

Robert E. Amodeo is the Head of Municipals at Western Asset. He has been with Western Asset since 2005.


S. Kenneth Leech

Manager

Start Date

Mar 31, 2014

Tenure

4.17

Tenure Rank

14.6%

S. Kenneth Leech is the Chief Investment Officer of Western Asset. He has been with Western Asset since 1990.


Tenure Analysis

Category Low

0.0

Category High

38.7

Category Average

7.92

Category Mode

0.1