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SHMMX Western Asset Managed Municipals A

  • Fund
  • SHMMX
  • Price as of: May 22, 2019
  • $16.23 - $0.01 - 0.06%
  • Category
  • National Munis

SHMMX - Profile

Vitals

  • YTD Return 2.6%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $4.71 B
  • Holdings in Top 10 11.3%

52 WEEK LOW AND HIGH

$16.23
$15.64
$16.27

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

  • Front Load 4.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 23.00%

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 2.6%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.86%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 (%)
YTD 2.6% -3.2% 4.3% 42.89%
1 Yr 1.6% -3.1% 5.2% 64.62%
3 Yr -1.4%* -3.1% 1.8% 89.00%
5 Yr -0.5%* -2.2% 2.0% 89.83%
10 Yr 0.6%* -8.8% 2.8% 38.96%

* Annualized


Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.3% -4.8% 0.8% 90.67%
2017 1.5% -0.9% 5.6% 49.40%
2016 -3.5% -6.1% 7.3% 87.98%
2015 -1.1% -10.9% 2.6% 91.24%
2014 6.6% -60.4% 12.0% 21.01%

Total Return Ranking - Trailing

Period SHMMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -3.2% 4.8% 45.85%
1 Yr 1.6% -3.1% 7.2% 67.00%
3 Yr -1.4%* -3.0% 3.1% 91.24%
5 Yr -0.5%* -1.9% 3.8% 92.12%
10 Yr 0.6%* -8.8% 4.8% 50.31%

* Annualized


Total Return Ranking - Calendar

Period SHMMX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.3% -4.8% 1.7% 91.87%
2017 1.5% -0.9% 6.2% 56.43%
2016 -3.5% -6.1% 7.3% 90.22%
2015 -1.1% -9.6% 3.9% 92.87%
2014 6.6% -60.4% 12.0% 23.32%

NAV & Total Return History

SHMMX - Holdings

Concentration Analysis

SHMMX Category Low Category High SHMMX % Rank
Net Assets 4.71 B 770 K 66.2 B 12.65%
Number of Holdings 689 3 8426 22.57%
Net Assets in Top 10 526 M -122 M 1.81 B 9.11%
Weighting of Top 10 11.27% 2.5% 100.0% 64.75%

Top 10 Holdings

  1. M-S-R ENERGY AUTH CALIF GAS REV 6.5% 1.85%

  2. PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR REV 6.5% 1.43%

  3. JEFFERSON CNTY ALA SWR REV 0% 1.37%

  4. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV 6.25% 1.14%

  5. ATLANTA GA WTR & WASTE WTR REV 6.25% 1.13%

  6. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 1.06%

  7. M-S-R ENERGY AUTH CALIF GAS REV 7% 0.85%

  8. MAIN STR NAT GAS INC GA GAS SUPPLY REV 2.11% 0.83%

  9. PORT AUTH N Y & N J 5% 0.80%

  10. NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT 5.5% 0.80%


Asset Allocation

Weighting Return Low Return High SHMMX % Rank
Bonds
101.83% 66.80% 103.87% 1.58%
Stocks
0.00% 0.00% 0.01% 38.81%
Preferred Stocks
0.00% 0.00% 9.32% 39.01%
Other
0.00% -3.88% 30.00% 45.15%
Convertible Bonds
0.00% 0.00% 2.58% 39.60%
Cash
-1.83% -2.12% 31.82% 98.61%

Bond Sector Breakdown

Weighting Return Low Return High SHMMX % Rank
Municipal
101.83% 0.00% 112.93% 1.78%
Derivative
0.00% 0.00% 0.01% 39.21%
Securitized
0.00% 0.00% 25.65% 41.39%
Corporate
0.00% 0.00% 39.31% 48.91%
Government
0.00% -13.64% 71.35% 39.60%
Cash & Equivalents
-1.83% -7.72% 31.82% 98.02%

Bond Geographic Breakdown

Weighting Return Low Return High SHMMX % Rank
US
101.37% 53.15% 103.17% 0.79%
Non US
0.46% 0.00% 25.08% 36.83%

SHMMX - Expenses

Operational Fees

SHMMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.08% 4.80% 58.70%
Management Fee 0.45% 0.00% 0.65% 69.96%
12b-1 Fee 0.15% 0.00% 1.00% 22.67%
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

SHMMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 0.50% 5.75% 20.74%
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

SHMMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 23.00% 0.00% 504.54% 39.72%

SHMMX - Distributions

Dividend Yield Analysis

SHMMX Category Low Category High SHMMX % Rank
Dividend Yield 0.03% 0.00% 0.94% 25.89%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SHMMX Category Low Category High SHMMX % Rank
Net Income Ratio 3.86% 0.01% 4.95% 4.35%

Capital Gain Distribution Analysis

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

SHMMX - Managers

David T. Fare

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2004

14.34

14.3%

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


Robert E. Amodeo

Manager

Start Date

Tenure

Tenure Rank

Feb 02, 2007

12.25

12.3%

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


S. Kenneth Leech

Manager

Start Date

Tenure

Tenure Rank

Mar 31, 2014

5.08

5.1%

S. Kenneth Leech serves as Chairman of Western Asset's Global Investment Strategy Committee, oversees the Legg Mason's Global Bond Portfolios and leads the US Broad Strategy Committee. His 39 year money management career has emphasised fixed-income strategy and interst-rates analaysis. from 2002 to 2004, He served as a member of the US Treasury Borrowing Committee. He has been with Western Asset since 1990.


Tenure Analysis

Category Low

0.0

Category High

39.6

Category Average

7.67

Category Mode

4.15