Western Asset Macro Opportunities A2
Name
As of 06/24/2021Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-1.9%
1 yr return
7.7%
3 Yr Avg Return
5.7%
5 Yr Avg Return
5.7%
Net Assets
$1.69 B
Holdings in Top 10
40.8%
52 WEEK LOW AND HIGH
$11.5
$10.64
$11.73
Expenses
OPERATING FEES
Expense Ratio 1.65%
SALES FEES
Front Load 4.25%
Deferred Load N/A
TRADING FEES
Turnover 138.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 06/24/2021Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
LAATX - Profile
Distributions
- YTD Total Return -1.9%
- 3 Yr Annualized Total Return 4.1%
- 5 Yr Annualized Total Return 4.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.98%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameWestern Asset Macro Opportunities Fund
-
Fund Family NameFranklin Templeton Investments
-
Inception DateDec 14, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
div style="margin-top: 2pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"Under normal circumstances, the fund seeks to achieve its investment objective by implementing an opportunistic investing strategy. The fund attempts to identify and capitalize on attractive relative-value opportunities principally in fixed income markets around the globe by investing in a variety of securities and other instruments (for example, by comparing spreads with a subadviser’s assessment of an issuer’s creditworthiness or by seeking to profit from the relative values of two related financial instruments by taking a single long or short position or by taking a long position with respect to one and a short position with respect to the other). Although the fund does not expect to invest in individual equities it may also invest in equity-related strategies, such as equity index futures and swaps, to the extent a subadviser believes those strategies are consistent with the fund’s overall objective and strategy. The fund’s trading strategy is expected to include positions based on longer-term outlooks, such as the subadvisers’ views on long-term macroeconomic themes, and shorter-term circumstances. The fund has fewer restrictions than other fixed income funds and expects to trade actively./div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"The fund may enter into various derivative transactions for both hedging and non‑hedging purposes, including for purposes of enhancing returns. These derivative transactions include, but are not limited to, futures, options, swaps and foreign currency futures, forwards and options./div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"In particular, the fund may use certain derivatives, including bond and interest rate futures, options on bonds, options on bond and interest rate futures, interest rate options, interest rate swaps, credit default swaps (on individual securities and/or baskets of securities), other options (including options on credit default swaps and options on currency forwards, futures and swaps), other futures, swaps, forwards, options on swaps, options on forwards, and mortgage-backed securities to a significant extent, although the amounts invested in these instruments may change from time to time./div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"Non‑dollar securities may be held on a currency-hedged or -unhedged basis. The fund may engage (although it may choose not to) in currency exchange transactions to protect against uncertainty in the level of future exchange rates or to enhance returns. The fund may also engage in short sales or may otherwise hold short positions./div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"The derivatives used by the fund may represent a form of investment leverage in that the potential exposure of the fund may exceed its net assets. See “Leveraging Risk” below for further discussion of related risks./div div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt;" /div div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"Although the fund may invest in securities of any maturity, the fund will normally maintain a dollar-weighted average effective duration (including futures positions), as estimated by the fund’s subadvisers, within the range of ‑5 to 10 years. Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of structural complexities (for example, some bonds can be prepaid by the issuer). The fund may invest in debt and fixed income securities of any credit quality, including securities that are in default. /div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"In addition, under normal circumstances, at the time of purchase: /div table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 1%; vertical-align: top; text-align: left;"span style="font-family: times new roman; font-size: 7pt;"•/span/td td style="width: 1%; vertical-align: top;" /td td style="text-align: left; vertical-align: top;" div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 10pt; text-align: left;"No more than 75% of the fund’s net assets may be invested in non‑dollar denominated securities. /div /td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 1%; vertical-align: top; text-align: left;"span style="font-family: times new roman; font-size: 7pt;"•/span/td td style="width: 1%; vertical-align: top;" /td td style="text-align: left; vertical-align: top;" div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 10pt; text-align: left;"No more than 50% of the fund’s net assets may be invested in un‑hedged non‑U.S. dollar denominated securities, currency futures, forwards, or options measured at notional value, excluding instruments used for hedging purposes. /div /td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 1%; vertical-align: top; text-align: left;"span style="font-family: times new roman; font-size: 7pt;"•/span/td td style="width: 1%; vertical-align: top;" /td td style="text-align: left; vertical-align: top;" div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 10pt; text-align: left;"No more than 50% of the fund’s net assets may be invested in debt and other fixed income securities rated below the Baa or BBB categories at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (“NRSROs”) or unrated securities of comparable quality at the time of purchase (as determined by the subadvisers). Securities rated below investment grade (i.e., securities rated below the Baa/BBB categories) are commonly known as “junk bonds” or “high yield securities.” /div /td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 1%; vertical-align: top; text-align: left;"span style="font-family: times new roman; font-size: 7pt;"•/span/td td style="width: 1%; vertical-align: top;" /td td style="text-align: left; vertical-align: top;" div style="margin-top: 0pt; margin-bottom: 0pt; font-family: arial; font-size: 10pt; text-align: left;"No more than 50% of the fund’s net assets may be invested in securities of issuers in emerging markets. /div /td /tr /table div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"The fund considers a country to be an emerging market country if, at the time of investment, it is represented in the J.P. Morgan Emerging Market Bond Index Global or the J.P. Morgan Corporate Emerging Market Bond Index Broad or categorized by the World Bank in its annual categorization as middle- or low‑income. /div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"The fund is permitted to invest in securities issued or guaranteed by the government of the United States or any of the G‑7 countries, including their agencies, instrumentalities and political sub‑divisions, without limit; however, (i) no more than 10% of the fund’s net assets may be invested in securities issued or guaranteed by a single government that is a non‑G‑7 country, including its agencies, instrumentalities and sub‑divisions; and (ii) other than as described above, no more than 5% of the fund’s net assets may be invested in the obligations of any single issuer, excluding investments in commingled investment vehicles. /div div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: arial;"The fund is “non‑diversified” within the meaning of the Investment Company Act of 1940, as amended. As a result, the value of its shares will be more susceptible to any single economic, political or regulatory event affecting one or a small number of issuers than shares of a diversified fund. Because the fund may focus a significant portion of its investments in a single country or currency, it will be more susceptible to factors adversely affecting such currency or issuers within that country than would a more diversified portfolio of securities. The fund’s likely focus on a limited number of investment strategies at any given time subjects it to similar risks. /div
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LAATX - Performance
Return Ranking - Trailing
Period | LAATX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -34.4% | 25.4% | 90.75% |
1 Yr | 7.7% | -43.4% | 54.3% | 60.70% |
3 Yr | 5.7%* | -15.5% | 11.8% | 34.29% |
5 Yr | 5.7%* | -17.0% | 14.5% | 17.60% |
10 Yr | N/A* | -1.6% | 12.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | LAATX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.4% | -49.2% | 314.3% | 9.48% |
2022 | 5.2% | -35.1% | 15.3% | 40.92% |
2021 | -7.9% | -48.0% | 3.4% | 86.04% |
2020 | N/A | -14.8% | 11.2% | N/A |
2019 | N/A | -11.2% | 10.7% | N/A |
Total Return Ranking - Trailing
Period | LAATX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -34.4% | 25.4% | 90.75% |
1 Yr | 3.2% | -46.7% | 54.3% | 84.87% |
3 Yr | 4.1%* | -17.1% | 13.4% | 58.64% |
5 Yr | 4.8%* | -18.0% | 14.5% | 34.12% |
10 Yr | N/A* | -1.6% | 12.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | LAATX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.4% | -49.2% | 314.3% | 9.48% |
2022 | 5.2% | -35.1% | 15.3% | 42.56% |
2021 | -5.7% | -48.0% | 8.0% | 70.61% |
2020 | N/A | -14.8% | 15.2% | N/A |
2019 | N/A | -11.2% | 17.7% | N/A |
NAV & Total Return History
LAATX - Holdings
Concentration Analysis
LAATX | Category Low | Category High | LAATX % Rank | |
---|---|---|---|---|
Net Assets | 1.69 B | 10 | 140 B | 31.75% |
Number of Holdings | 919 | 3 | 8055 | 25.86% |
Net Assets in Top 10 | 317 M | -3.15 B | 5.97 B | 27.34% |
Weighting of Top 10 | 40.80% | 4.2% | 100.0% | 31.49% |
Top 10 Holdings
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
- Fx Fut Jpn Yen Curr Fut Dec20 6.62%
Asset Allocation
Weighting | Return Low | Return High | LAATX % Rank | |
---|---|---|---|---|
Bonds | 89.07% | -146.87% | 302.14% | 42.61% |
Cash | 5.61% | -210.92% | 259.83% | 53.20% |
Convertible Bonds | 5.08% | 0.00% | 129.09% | 20.57% |
Other | 0.21% | -45.66% | 106.30% | 23.28% |
Stocks | 0.03% | -54.77% | 184.68% | 64.78% |
Preferred Stocks | 0.00% | 0.00% | 31.40% | 95.32% |
Stock Sector Breakdown
Weighting | Return Low | Return High | LAATX % Rank | |
---|---|---|---|---|
Energy | 100.00% | 0.00% | 100.00% | 11.54% |
Utilities | 0.00% | 0.00% | 100.00% | 98.17% |
Technology | 0.00% | 0.00% | 51.27% | 97.44% |
Real Estate | 0.00% | 0.00% | 100.00% | 96.89% |
Industrials | 0.00% | 0.00% | 100.00% | 97.62% |
Healthcare | 0.00% | 0.00% | 100.00% | 97.99% |
Financial Services | 0.00% | 0.00% | 100.00% | 97.25% |
Communication Services | 0.00% | 0.00% | 100.00% | 98.90% |
Consumer Defense | 0.00% | 0.00% | 99.98% | 95.97% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 97.99% |
Basic Materials | 0.00% | 0.00% | 52.35% | 97.07% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | LAATX % Rank | |
---|---|---|---|---|
US | 0.03% | -50.06% | 184.68% | 59.61% |
Non US | 0.00% | -4.71% | 25.18% | 92.61% |
Bond Sector Breakdown
Weighting | Return Low | Return High | LAATX % Rank | |
---|---|---|---|---|
Derivative | 36.71% | 0.00% | 67.54% | 4.68% |
Government | 27.57% | 0.00% | 99.63% | 17.00% |
Corporate | 20.63% | 0.00% | 100.00% | 73.40% |
Cash & Equivalents | 11.22% | 0.00% | 100.00% | 38.79% |
Securitized | 3.70% | 0.00% | 98.90% | 79.93% |
Municipal | 0.16% | 0.00% | 55.87% | 29.19% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LAATX % Rank | |
---|---|---|---|---|
Non US | 50.44% | -225.98% | 105.85% | 7.88% |
US | 38.63% | -147.15% | 292.53% | 83.99% |
LAATX - Expenses
Operational Fees
LAATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.65% | 0.02% | 5.53% | 28.48% |
Management Fee | 1.15% | 0.00% | 2.25% | 87.91% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 55.38% |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
LAATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.25% | 0.00% | 5.75% | 35.87% |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
LAATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.40% | 2.00% | N/A |
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.
LAATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 138.00% | 0.00% | 498.00% | 75.37% |
LAATX - Distributions
Dividend Yield Analysis
LAATX | Category Low | Category High | LAATX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 3.35% | 94.13% |
Dividend Distribution Analysis
LAATX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
LAATX | Category Low | Category High | LAATX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.98% | -1.28% | 11.44% | 57.71% |
Capital Gain Distribution Analysis
LAATX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |