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SHMMX Western Asset Managed Municipals A

  • Fund
  • SHMMX
  • Price as of: Dec 05, 2016
  • $16.02
  • + $0.01
  • + 0.06%
  • Category
  • National Munis

SHMMX - Profile

Vitals

  • YTD Return -4.1%
  • 3 Yr Annualized Return 5.3%
  • 5 Yr Annualized Return 4.8%
  • Net Assets $5.11 B
  • Holdings in Top 10 11.4%

52 WEEK LOW AND HIGH

$16.02
$16.00
$17.13

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.66%

SALES FEES

  • Front Load 4.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 5.00%

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 -4.1%
  • 3 Yr Annualized Total Return 3.8%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.77%
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 -4.1% -6.1% 99.4% 56.26% 5
1 Yr 3.9% -5.8% 10.7% 31.12% 2
3 Yr 5.3% * -4.5% 7.7% 20.62% 2
5 Yr 4.8% * -0.6% 7.0% 20.11% 2
10 Yr 5.0% * -0.4% 5.5% 2.14% 1

* Annualized


Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -10.9% 2.6% 53.72% 5
2014 6.6% -2.2% 12.0% 13.96% 1
2013 -8.1% -11.9% 0.1% 62.74% 5
2012 5.9% -7.1% 10.2% 9.72% 1
2011 7.7% -1.8% 15.2% 2.78% 1

Total Return Ranking - Trailing

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -4.1% -6.1% 99.4% 57.89% 5
1 Yr -0.5% -8.9% 10.0% 80.55% 5
3 Yr 3.8% * -5.4% 7.7% 38.30% 2
5 Yr 3.9% * -0.6% 7.0% 32.22% 2
10 Yr 4.6% * -0.4% 5.5% 8.76% 1

* Annualized


Total Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -9.7% 5.1% 62.50% 5
2014 6.6% -0.9% 17.0% 19.02% 2
2013 -8.1% -11.9% 2.1% 65.78% 5
2012 5.9% -0.6% 17.8% 15.18% 1
2011 7.7% -1.1% 16.2% 13.49% 1

NAV & Total Return History

SHMMX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Net Assets 5.11 B 491 K 53 B 3.54% 1
Number of Holdings 585 1 6199 8.87% 2
Net Assets in Top 10 588 M -179 M 1.27 B 1.61% 1
Weighting of Top 10 11.4% 0.0% 100.0% 20.32% 3

Top 10 Holdings

  1. M-S-R Engy Auth 6.5% 1.68%
  2. Texas Mun Gas Acquisition & Su Sr 6.25% 1.44%
  3. Public Auth 6.5% 1.29%
  4. Atlanta Ga Wtr & Waste Wtr Rev Ref 6.25% 1.14%
  5. North Tex Twy Auth 0.02% 1.12%
  6. Jefferson Cnty Ala Swr Rev Swr Rev W 1.06%
  7. Harris Cnty Tex Indl Dev Corp Rev Bds 5% 0.95%
  8. Bay Area Toll Auth 5.125% 0.93%
  9. Birmingham Ala Wtrwks Brd Wtr Rev Ref 5% 0.92%
  10. Port Auth 5% 0.83%

Asset Allocation

Weighting Category Low Category High SHMMX % Rank Quintile
Bonds
100.73% 0.00% 202.21% 0.32% 1
Other
0.00% -2.77% 27.54% 6.94% 2
Preferred Stocks
0.00% 0.00% 11.46% 1.45% 2
Stocks
0.00% 0.00% 1.40% 1.13% 2
Convertible Bonds
0.00% 0.00% 2.79% 0.81% 2
Cash
-0.73% -110.85% 100.00% 30.32% 5

Bond Sector Breakdown

Weighting Category Low Category High SHMMX % Rank Quintile
Municipal
100.73% 0.00% 140.62% 0.81% 1
Securitized
0.00% 0.00% 41.81% 2.74% 2
Government
0.00% -42.63% 117.34% 7.58% 2
Derivative
0.00% -0.43% 4.79% 0.48% 2
Corporate
0.00% 0.00% 34.61% 4.35% 2
Cash & Equivalents
-0.73% -110.85% 100.00% 30.48% 5

Bond Geographic Breakdown

Weighting Category Low Category High SHMMX % Rank Quintile
US
100.73% 0.00% 202.21% 0.32% 1
Non US
0.00% 0.00% 20.62% 0.81% 2

SHMMX - Expenses

Operational Fees

SHMMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.66% 0.10% 4.60% 19.48% 2
Management Fee 0.45% 0.00% 1.00% 2.25% 4
12b-1 Fee 0.15% 0.00% 1.00% 5.65% 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 5.00% 0.00% 783.51% 17.39% 1

SHMMX - Distributions

Dividend Yield Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Dividend Yield 0.7% 0.00% 2.86% 0.82% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SHMMX Category Low Category High SHMMX % Rank Quintile
Net Income Ratio 3.77% -0.60% 5.26% 6.28% 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

11.84

Tenure Rank

5.7%

Fare is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was with Citigroup Asset Management or one of its affiliates since 1989.


Robert E. Amodeo

Manager

Start Date

Feb 02, 2007

Tenure

9.75

Tenure Rank

7.3%

Amodeo is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was a managing director and portfolio manger with Salomon Brothers Asset Management Inc. from 1992 to 2005. Amodeo holds the Chartered Financial Analyst designation.


S. Kenneth Leech

Manager

Start Date

Mar 31, 2014

Tenure

2.59

Tenure Rank

14.8%

Leech transitioned into a CIO Emeritus role in September 2008 and joined Western Asset as Chief Investment Officer in 1990. Prior to joining Western in 1990, he was a portfolio manager with Greenwich Capital Markets from 1988 to 1990; the First Boston Corporation from 1980 to 1988; and the National Bank of Detroit from 1977 to 1980. He has over 32 years of investment experience.


Tenure Analysis

Category Low

0.0

Category High

37.1

Category Average

7.32

Category Mode

4.8