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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.21

$2.31 B

15.82%

$1.46

1.25%

Vitals

YTD Return

6.1%

1 yr return

-15.4%

3 Yr Avg Return

-4.3%

5 Yr Avg Return

-3.8%

Net Assets

$2.31 B

Holdings in Top 10

55.2%

52 WEEK LOW AND HIGH

$9.2
$8.07
$10.94

Expenses

OPERATING FEES

Expense Ratio 1.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 51.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.21

$2.31 B

15.82%

$1.46

1.25%

LBORX - Profile

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return -4.3%
  • 5 Yr Annualized Total Return -3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.44%
DIVIDENDS
  • Dividend Yield 15.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    BrandywineGLOBAL - Global Opportunities Bond Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Sep 30, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    David Hoffman

Fund Description

Under normal market conditions, the fund will invest at least 80% of its net assets in fixed income securities of issuers located in developed market countries. Any country that, at the time of purchase, has a sovereign debt rating of A- or better from at least one nationally recognized statistical ratings organization (“NRSRO”) or is included in the FTSE World Government Bond Index will be considered a developed country. The fund will invest in both investment grade and below investment grade fixed income securities, and intends to invest less than 35% of its net assets in below investment grade fixed income securities (commonly known as “high yield debt” or “junk bonds”). The portfolio managers intend to maintain an average weighted portfolio quality of A- or better, whether composed of rated securities or unrated securities deemed by the portfolio managers to be of comparable quality. The fund’s investments may include securities of sovereign governments and supranational organizations. The fund may invest up to 25% of its net assets in convertible debt securities.
The fund may invest in currency forwards in order to hedge its currency exposure in bond positions or to gain currency exposure. In addition, the fund may invest in bond futures, interest rate futures, swaps (including interest rate and total return swaps), credit default swaps (including buying and selling credit default swaps), and options. The fund may use derivatives to enhance total return, to hedge against fluctuations in securities prices,
  
interest rates or currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks and/or as a substitute for the purchase or sale of securities or currencies. These investments may be significant at times. Although the portfolio managers have the flexibility to use these instruments for hedging purposes, they may choose not to for a variety of reasons, even under very volatile market conditions. Derivative instruments are taken into account when determining compliance with the fund’s 80% investment policy. 
The fund will normally hold a portfolio of fixed income securities of issuers located in a minimum of six countries. 
Although the fund invests primarily in issuers in developed market countries as defined above, the fund may also invest in issuers in emerging market countries, and some of the countries that the fund considers to be developed may still have certain economic or other characteristics that are considered developing and are similar to emerging market countries. 
The fund may invest in securities of any maturity. The weighted average effective duration of the fund’s portfolio, including derivatives, is expected to range from 1 to 10 years but for individual markets may be greater or lesser depending on the portfolio managers’ view of the prospects for lower interest rates and the potential for capital gains. 
The fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund. 
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LBORX - Performance

Return Ranking - Trailing

Period LBORX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -59.5% 0.9% 38.35%
1 Yr -15.4% -15.5% 19.7% 26.92%
3 Yr -4.3%* -4.3% 4.2% 6.47%
5 Yr -3.8%* -2.5% 4.1% 17.55%
10 Yr -2.4%* -3.0% 2.7% 15.43%

* Annualized

Return Ranking - Calendar

Period LBORX Return Category Return Low Category Return High Rank in Category (%)
2022 -20.9% -15.2% 0.9% 37.50%
2021 -3.8% -10.9% 12.2% 2.58%
2020 3.8% -10.8% 14.8% 11.46%
2019 1.8% -15.3% 0.6% 90.75%
2018 -1.7% -44.4% 14.4% 31.29%

Total Return Ranking - Trailing

Period LBORX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -59.5% 0.9% 36.41%
1 Yr -15.4% -16.6% 30.5% 24.17%
3 Yr -4.3%* -5.2% 10.9% 8.70%
5 Yr -3.4%* -2.8% 7.4% 18.04%
10 Yr -1.0%* -3.0% 3.6% 14.36%

* Annualized

Total Return Ranking - Calendar

Period LBORX Return Category Return Low Category Return High Rank in Category (%)
2022 -20.9% -15.2% 0.9% 37.50%
2021 -3.8% -10.9% 12.2% 2.58%
2020 3.8% -10.8% 14.8% 11.46%
2019 1.8% -15.3% 3.8% 89.02%
2018 -1.4% -44.4% 14.4% 5.52%

NAV & Total Return History


LBORX - Holdings

Concentration Analysis

LBORX Category Low Category High LBORX % Rank
Net Assets 2.31 B 74.5 K 14.7 B 22.06%
Number of Holdings 148 4 4562 81.52%
Net Assets in Top 10 1.38 B -112 M 3.66 B 13.74%
Weighting of Top 10 55.19% 4.7% 100.0% 26.92%

Top 10 Holdings

  1. United States Treasury Notes 0.65493% 17.91%
  2. United States Treasury Notes 0.64093% 8.88%
  3. United States Treasury Notes 0.63493% 8.11%
  4. United States Treasury Notes 0.14002% 5.74%
  5. The Republic of Korea 2% 5.12%
  6. United States Treasury Notes 0.09% 3.63%
  7. China(Peoples Rep) 3.81% 3.03%
  8. Mexico (United Mexican States) 7.75% 3.00%
  9. Republic of Colombia 6% 2.71%
  10. United States Treasury Notes 0.13% 2.69%

Asset Allocation

Weighting Return Low Return High LBORX % Rank
Bonds
94.38% 0.00% 220.33% 33.18%
Convertible Bonds
4.87% 0.00% 11.19% 9.00%
Stocks
0.69% 0.00% 7.47% 9.00%
Cash
0.06% -130.07% 95.62% 85.31%
Preferred Stocks
0.00% 0.00% 2.87% 40.28%
Other
0.00% -9.71% 100.00% 40.76%

Stock Sector Breakdown

Weighting Return Low Return High LBORX % Rank
Utilities
0.00% 0.00% 91.33% N/A
Technology
0.00% 0.00% 21.64% N/A
Real Estate
0.00% 0.00% 3.17% N/A
Industrials
0.00% 0.00% 11.80% N/A
Healthcare
0.00% 0.00% 9.46% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 56.19% N/A
Consumer Defense
0.00% 0.00% 34.30% N/A
Consumer Cyclical
0.00% 0.00% 27.00% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High LBORX % Rank
US
0.69% 0.00% 6.55% 8.06%
Non US
0.00% 0.00% 1.77% 37.44%

Bond Sector Breakdown

Weighting Return Low Return High LBORX % Rank
Derivative
57.53% 0.00% 74.77% 4.33%
Government
32.82% 0.30% 99.47% 71.15%
Corporate
8.33% 0.00% 98.62% 78.37%
Cash & Equivalents
0.82% 0.00% 95.62% 94.71%
Securitized
0.50% 0.00% 52.02% 74.52%
Municipal
0.00% 0.00% 7.95% 59.13%

Bond Geographic Breakdown

Weighting Return Low Return High LBORX % Rank
US
53.74% -5.52% 107.53% 8.06%
Non US
40.64% 0.00% 112.80% 89.57%

LBORX - Expenses

Operational Fees

LBORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.25% 0.02% 3.65% 21.53%
Management Fee 0.50% 0.00% 2.08% 36.10%
12b-1 Fee 0.50% 0.00% 1.00% 60.61%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

LBORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LBORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

LBORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 51.00% 6.00% 354.00% 26.63%

LBORX - Distributions

Dividend Yield Analysis

LBORX Category Low Category High LBORX % Rank
Dividend Yield 15.82% 0.00% 17.40% 45.97%

Dividend Distribution Analysis

LBORX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

LBORX Category Low Category High LBORX % Rank
Net Income Ratio 1.44% -1.08% 5.77% 59.31%

Capital Gain Distribution Analysis

LBORX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

LBORX - Fund Manager Analysis

Managers

David Hoffman


Start Date

Tenure

Tenure Rank

Nov 01, 2006

15.59

15.6%

David is co-lead portfolio manager for the Firm's Global Fixed Income and related strategies. He joined the Firm in 1995. Previously, David was president of Hoffman Capital, a global financial futures investment firm (1991-1995); head of fixed income investments at Columbus Circle Investors (1983-1990); senior vice president and portfolio manager at INA Capital Management (1979-1982), and fixed income portfolio manager at Provident National Bank (1975-1979).

Jack McIntyre


Start Date

Tenure

Tenure Rank

Feb 22, 2012

10.28

10.3%

John(Jack) P. McIntyre, CFA is Associate Portfolio Manager/Senior Research Analyst and is responsible for research and market insight. Mr. McIntyre has been employed at Brandywine Global since 1998. Previously, he held positions as market strategist with McCarthy, Crisanti & Maffei, Inc. (1995-1998); senior fixed income analyst with Technical Data (1992-1995); quantitative associate with Brown Brothers Harriman & Co. (1990), and investment analyst with the Public Employee Retirement Administration of Massachusetts (1987-1989).

Anujeet Sareen


Start Date

Tenure

Tenure Rank

Jan 31, 2017

5.33

5.3%

Anujeet Sareen is a portfolio manager for the Firm’s Global Fixed Income and related strategies. Prior to joining the Firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.

Brian Kloss


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).

Tracy Chen


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.31 6.8 3.67