SHDAX: Western Asset Short Duration Muni Inc A

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SHDAX Western Asset Short Duration Muni Inc A


Profile

SHDAX - Profile

Vitals

  • YTD Return -1.9%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $820 M
  • Holdings in Top 10 18.5%

52 WEEK LOW AND HIGH

$5.03
$4.86
$5.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 40.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -1.9%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency Daily
  • Net Income Ratio 1.46%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Western Asset Short Duration Municipal Income Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Mar 17, 2003
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    David Fare

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in municipal securities and in participation or other interests in municipal securities issued by banks, insurance companies or other financial institutions. Municipal securities are securities and other investments with similar economic characteristics the interest on which is exempt from regular federal income tax.


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Categories

Performance

SHDAX - Performance

Return Ranking - Trailing

Period SHDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -25.7% 196.2% 51.10%
1 Yr -1.2% -24.6% 191.4% 70.78%
3 Yr -0.3%* -7.9% 8.6% 64.26%
5 Yr -0.5%* -6.0% 11.4% 51.02%
10 Yr -0.2%* -5.4% 3.9% 74.31%

* Annualized

Return Ranking - Calendar

Period SHDAX Return Category Return Low Category Return High Rank in Category (%)
2019 1.6% -4.3% 18.3% 89.41%
2018 -0.4% -11.7% 4.6% 5.15%
2017 0.2% -6.0% 8.3% 77.19%
2016 -1.0% -7.8% 7.7% 53.86%
2015 -0.8% -18.3% 3.0% 43.76%

Total Return Ranking - Trailing

Period SHDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -25.7% 196.2% 51.10%
1 Yr -1.2% -24.6% 191.4% 70.78%
3 Yr -0.3%* -7.9% 10.7% 69.25%
5 Yr -0.5%* -6.0% 11.4% 59.73%
10 Yr -0.2%* -5.4% 6.7% 81.83%

* Annualized

Total Return Ranking - Calendar

Period SHDAX Return Category Return Low Category Return High Rank in Category (%)
2019 1.6% -4.3% 18.3% 89.67%
2018 -0.4% -11.7% 6.5% 10.88%
2017 0.2% -6.0% 10.4% 80.90%
2016 -1.0% -7.8% 10.7% 57.15%
2015 -0.8% -12.6% 4.2% 51.44%

NAV & Total Return History


Holdings

SHDAX - Holdings

Concentration Analysis

SHDAX Category Low Category High SHDAX % Rank
Net Assets 820 M 640 K 259 B 43.59%
Number of Holdings 241 1 17723 56.66%
Net Assets in Top 10 163 M -216 M 24.5 B 44.42%
Weighting of Top 10 18.54% 2.4% 100.0% 56.84%

Top 10 Holdings

  1. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 2.76%
  2. ILLINOIS ST 5% 2.19%
  3. BURKE CNTY GA DEV AUTH POLLUTN CTL REV 2.4% 2.09%
  4. KANSAS ST DEPT TRANSN HWY REV 1.65% 1.82%
  5. NEW JERSEY ST TRANSN TR FD AUTH 2.14% 1.80%
  6. SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 1.59% 1.70%
  7. WISE CNTY VA INDL DEV AUTH SOLID WASTE & SEW DISP REV 2.15% 1.58%
  8. PENNSYLVANIA ST TPK COMMN TPK REV 1.82% 1.57%
  9. BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV 4% 1.53%
  10. NEW JERSEY ST TPK AUTH TPK REV 1.95% 1.49%

Asset Allocation

Weighting Return Low Return High SHDAX % Rank
Bonds
99.26% 80.16% 159.74% 28.15%
Cash
0.74% -59.74% 19.74% 67.67%
Stocks
0.00% -0.38% 24.73% 10.30%
Preferred Stocks
0.00% 0.00% 7.43% 17.67%
Other
0.00% -4.02% 28.26% 14.54%
Convertible Bonds
0.00% 0.00% 7.24% 46.04%

Bond Sector Breakdown

Weighting Return Low Return High SHDAX % Rank
Municipal
99.04% 0.00% 100.11% 21.02%
Cash & Equivalents
0.96% -29.57% 39.95% 70.59%
Derivative
0.00% -0.83% 31.05% 15.55%
Securitized
0.00% 0.00% 98.30% 54.28%
Corporate
0.00% 0.00% 99.29% 62.20%
Government
0.00% -2.21% 122.41% 58.68%

Bond Geographic Breakdown

Weighting Return Low Return High SHDAX % Rank
US
99.26% 61.83% 156.78% 16.45%
Non US
0.00% -26.61% 26.76% 81.75%

Expenses

SHDAX - Expenses

Operational Fees

SHDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.01% 34.57% 56.07%
Management Fee 0.30% 0.00% 1.10% 22.78%
12b-1 Fee 0.15% 0.00% 1.00% 21.16%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

SHDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.50% 5.75% 77.67%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

SHDAX 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.

SHDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.00% 0.00% 489.00% 47.34%

Distributions

SHDAX - Distributions

Dividend Yield Analysis

SHDAX Category Low Category High SHDAX % Rank
Dividend Yield 0.00% 0.00% 3.70% 25.02%

Dividend Distribution Analysis

SHDAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

SHDAX Category Low Category High SHDAX % Rank
Net Income Ratio 1.46% -0.20% 6.30% 93.11%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

SHDAX - Fund Manager Analysis

Managers

David Fare


Start Date

Tenure

Tenure Rank

Mar 17, 2003

17.05

17.1%

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

Robert Amodeo


Start Date

Tenure

Tenure Rank

May 17, 2007

12.88

12.9%

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

S. Leech


Start Date

Tenure

Tenure Rank

Mar 31, 2014

6.01

6.0%

– 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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.35 7.41 0.25