LMSMX: Western Asset SMASh Series M

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LMSMX Western Asset SMASh Series M


Profile

LMSMX - Profile

Vitals

  • YTD Return 4.8%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return 0.9%
  • Net Assets $2.52 B
  • Holdings in Top 10 34.0%

52 WEEK LOW AND HIGH

$11.27
$10.41
$11.44

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.02%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 303.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.71%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Western Asset SMASh Series M Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Dec 27, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    S. Leech

Fund Description

The fund primarily invests in a combination of U.S. dollar denominated and non-U.S. dollar denominated investment grade debt obligations of U.S. and non-U.S. issuers and in derivatives and other instruments relating to such investments. The advisor intends to invest in asset-backed and inflation-protected securities and to engage in dollar rolls on mortgage-related securities.


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Categories

Performance

LMSMX - Performance

Return Ranking - Trailing

Period LMSMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -12.1% 14.0% 61.11%
1 Yr 1.6% -11.9% 11.3% 81.53%
3 Yr 0.9%* -7.6% 5.2% 81.82%
5 Yr 0.9%* -6.3% 25.6% 68.79%
10 Yr N/A* -4.7% 11.6% 1.55%

* Annualized

Return Ranking - Calendar

Period LMSMX Return Category Return Low Category Return High Rank in Category (%)
2019 0.4% -1.3% 13.9% 97.26%
2018 -1.7% -10.3% 2.7% 20.11%
2017 2.7% -2.2% 8.1% 15.20%
2016 -0.7% -22.1% 192.8% 88.13%
2015 -0.6% -12.2% -0.4% 1.32%

Total Return Ranking - Trailing

Period LMSMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -12.1% 14.0% 61.11%
1 Yr 1.6% -11.9% 11.3% 81.53%
3 Yr 2.4%* -7.6% 5.2% 48.30%
5 Yr 3.9%* -6.3% 28.5% 9.55%
10 Yr N/A* -4.7% 16.1% 1.55%

* Annualized

Total Return Ranking - Calendar

Period LMSMX Return Category Return Low Category Return High Rank in Category (%)
2019 0.4% -1.2% 13.9% 96.80%
2018 1.5% -10.3% 3.9% 5.29%
2017 6.2% -2.2% 8.4% 3.51%
2016 4.5% -22.1% 204.3% 13.75%
2015 3.7% -12.2% 3.7% 0.66%

NAV & Total Return History


Holdings

LMSMX - Holdings

Concentration Analysis

LMSMX Category Low Category High LMSMX % Rank
Net Assets 2.52 B 3.17 M 70.6 B 19.03%
Number of Holdings 512 5 7322 54.47%
Net Assets in Top 10 579 M -1.26 B 27.3 B 21.14%
Weighting of Top 10 34.00% 5.8% 94.9% 46.55%

Top 10 Holdings

  1. United States Treasury Bonds 1% 8.22%
  2. Federal National Mortgage Association 2% 5.28%
  3. Federal National Mortgage Association 2% 4.17%
  4. Ir Swap 1.55% Fixed 3.23%
  5. United States Treasury Notes 0.62% 3.15%
  6. United States Treasury Bonds 1% 2.37%
  7. Federal National Mortgage Association 4.5% 2.17%
  8. United States Treasury Notes 0.5% 1.88%
  9. United States Treasury Bonds 1% 1.83%
  10. Ir Swap 1.4% Fixed 1.71%

Asset Allocation

Weighting Return Low Return High LMSMX % Rank
Bonds
93.06% -62.81% 231.56% 62.75%
Cash
6.94% -137.69% 168.59% 28.86%
Stocks
0.00% -0.03% 12.20% 33.60%
Preferred Stocks
0.00% 0.00% 7.73% 45.53%
Other
0.00% -7.84% 7.38% 30.89%
Convertible Bonds
0.00% 0.00% 4.38% 86.18%

Bond Sector Breakdown

Weighting Return Low Return High LMSMX % Rank
Securitized
59.45% 0.00% 87.00% 4.47%
Government
24.59% 0.00% 85.82% 40.65%
Cash & Equivalents
14.56% 0.00% 58.89% 19.51%
Corporate
1.25% 0.00% 83.87% 94.72%
Derivative
0.16% 0.00% 30.18% 52.44%
Municipal
0.00% 0.00% 27.42% 72.36%

Bond Geographic Breakdown

Weighting Return Low Return High LMSMX % Rank
US
88.92% -63.01% 239.68% 27.24%
Non US
4.14% -140.55% 83.99% 86.59%

Expenses

LMSMX - Expenses

Operational Fees

LMSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.02% 0.02% 18.96% 99.57%
Management Fee 0.00% 0.00% 0.96% 0.82%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.50% N/A

Sales Fees

LMSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LMSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

LMSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 303.00% 7.12% 438.00% 83.65%

Distributions

LMSMX - Distributions

Dividend Yield Analysis

LMSMX Category Low Category High LMSMX % Rank
Dividend Yield 0.00% 0.00% 3.49% 25.91%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

LMSMX Category Low Category High LMSMX % Rank
Net Income Ratio 2.71% -0.35% 10.54% 53.25%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

LMSMX - Fund Manager Analysis

Managers

S. Leech


Start Date

Tenure

Tenure Rank

Mar 31, 2014

6.34

6.3%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Julien Scholnick


Start Date

Tenure

Tenure Rank

Mar 01, 2017

3.42

3.4%

Julien Scholnick is the portfolio manager of Western Asset Management Company. Mr. Scholnick joined the firm in 2003.

Sean Johnson


Start Date

Tenure

Tenure Rank

Jun 29, 2018

2.09

2.1%

Greg Handler


Start Date

Tenure

Tenure Rank

Jan 04, 2019

1.57

1.6%

Greg E. Handler is the Portfolio Manager of Legg Mason Partners Fund Advisor, LLC.

Harris Trifon


Start Date

Tenure

Tenure Rank

Jan 04, 2019

1.57

1.6%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 27.6 5.8 5.85