Western Asset Inflation Indexed Plus Bond Fund
Name
As of 12/18/2024Price
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
1.2%
1 yr return
1.4%
3 Yr Avg Return
-3.0%
5 Yr Avg Return
0.8%
Net Assets
$59.3 M
Holdings in Top 10
74.2%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.94%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 80.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/18/2024Price
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
WATPX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return -3.0%
- 5 Yr Annualized Total Return 0.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.89%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameWestern Asset Inflation Indexed Plus Bond Fund
-
Fund Family NameFRANKLIN TEMPLETON
-
Inception DateJul 23, 2001
-
Shares OutstandingN/A
-
Share ClassF
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerS. Leech
Fund Description
Under normal market conditions, the fund invests at least 80% of its net assets, including the amount of borrowing for investment purposes, if any, in inflation-indexed fixed income securities and at least 70% of its net assets in U.S. Treasury Inflation Protected Securities.
The subadvisers use fundamental investment techniques to select issues. Although the fund may invest in securities of any maturity, the fund normally expects to maintain a dollar-weighted average effective duration, as estimated by the fund’s subadvisers, within 3 years of that of its benchmark, the Bloomberg U.S. Treasury: U.S. TIPS. 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 sell protection in connection with credit default swaps relating to corporate debt securities. It is currently expected that the notional amount of the credit default swaps will not exceed 40% of the fund’s net assets, although such exposure may exceed 40% from time to time.
The fund is expected to maintain a dollar-weighted average credit quality of at least A/A.
In addition, under normal market conditions, at the time of purchase:
| • | no more than 20% of the fund’s net assets may be invested in non-U.S. dollar denominated inflation-indexed securities |
| • | no more than 10% of the fund’s net assets may be invested in un-hedged non-U.S. dollar denominated securities |
| • | no more than 20% of the fund’s net assets may be invested in a combination of securities rated below investment grade, emerging market securities and loan participations and assignments |
| • | no more than 10% of the fund’s net assets may be invested in securities rated below investment grade |
| • | no more than 10% of the fund’s net assets may be invested in emerging market securities |
| • | no more than 10% of the fund’s net assets may be invested in loan participations and assignments |
The fund considers a security to be rated below investment grade if it is not rated in the Baa/BBB categories or above by at least one Nationally Recognized Statistical Rating Organization (“NRSRO”) or is unrated and of comparable quality as determined by the subadvisers. Securities rated below investment grade are commonly known as “junk bonds” or “high yield securities.”
The fund may also enter into various exchange-traded and over-the-counter 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, foreign currency futures and forwards.
In particular, the fund may use interest rate swaps, credit default swaps (including buying and selling credit default swaps on individual securities and/or baskets of securities), options (including options on credit default swaps) and futures contracts to a significant extent, although the amounts invested in these instruments may change from time to time. Other instruments may also be used to a significant extent from time to time.
WATPX - Performance
Return Ranking - Trailing
| Period | WATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -12.5% | 7.8% | 75.12% |
| 1 Yr | 1.4% | -11.5% | 8.7% | 63.68% |
| 3 Yr | -3.0%* | -17.1% | 4.4% | 82.14% |
| 5 Yr | 0.8%* | -7.7% | 4.6% | 86.77% |
| 10 Yr | 1.2%* | -2.4% | 3.4% | 84.73% |
* Annualized
Return Ranking - Calendar
| Period | WATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.3% | -8.7% | 5.1% | 56.78% |
| 2022 | -18.1% | -52.3% | -4.0% | 73.47% |
| 2021 | -7.0% | -7.9% | 7.7% | 97.92% |
| 2020 | 8.3% | -29.4% | 23.0% | 49.74% |
| 2019 | 7.4% | 0.8% | 16.7% | 8.51% |
Total Return Ranking - Trailing
| Period | WATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -12.5% | 7.8% | 75.12% |
| 1 Yr | 1.4% | -11.5% | 8.7% | 63.68% |
| 3 Yr | -3.0%* | -17.1% | 4.4% | 82.14% |
| 5 Yr | 0.8%* | -7.7% | 4.6% | 86.77% |
| 10 Yr | 1.2%* | -2.4% | 3.4% | 84.73% |
* Annualized
Total Return Ranking - Calendar
| Period | WATPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.7% | -5.2% | 9.5% | 76.38% |
| 2022 | -12.8% | -40.1% | 9.2% | 86.22% |
| 2021 | 4.6% | -2.7% | 37.6% | 81.25% |
| 2020 | 9.4% | -0.5% | 27.5% | 55.03% |
| 2019 | 9.5% | 2.8% | 19.3% | 6.91% |
NAV & Total Return History
WATPX - Holdings
Concentration Analysis
| WATPX | Category Low | Category High | WATPX % Rank | |
|---|---|---|---|---|
| Net Assets | 59.3 M | 963 K | 54.3 B | 96.02% |
| Number of Holdings | 63 | 2 | 1463 | 61.69% |
| Net Assets in Top 10 | 38.6 M | 913 K | 25.5 B | 93.53% |
| Weighting of Top 10 | 74.18% | 9.4% | 100.0% | 19.00% |
Top 10 Holdings
- United States Treasury Inflation Indexed Bonds 11.83%
- United States Treasury Inflation Indexed Bonds 10.31%
- United States Treasury Inflation Indexed Bonds 10.15%
- United States Treasury Inflation Indexed Bonds 9.65%
- United States Treasury Inflation Indexed Bonds 7.25%
- United States Treasury Inflation Indexed Bonds 6.03%
- United States Treasury Inflation Indexed Bonds 5.94%
- United States Treasury Inflation Indexed Bonds 5.48%
- United States Treasury Inflation Indexed Bonds 4.41%
- United States Treasury Inflation Indexed Bonds 3.14%
Asset Allocation
| Weighting | Return Low | Return High | WATPX % Rank | |
|---|---|---|---|---|
| Bonds | 99.73% | 0.00% | 206.20% | 18.91% |
| Cash | 0.27% | -42.00% | 15.77% | 68.66% |
| Stocks | 0.00% | 0.00% | 100.03% | 46.27% |
| Preferred Stocks | 0.00% | 0.00% | 1.89% | 44.78% |
| Convertible Bonds | 0.00% | 0.00% | 3.96% | 60.20% |
| Other | -0.01% | -58.58% | 66.48% | 92.04% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | WATPX % Rank | |
|---|---|---|---|---|
| Government | 91.94% | 6.70% | 112.97% | 31.84% |
| Corporate | 4.61% | 0.00% | 50.64% | 21.39% |
| Securitized | 1.32% | 0.00% | 58.03% | 64.18% |
| Cash & Equivalents | 0.00% | 0.00% | 15.13% | 83.58% |
| Municipal | 0.00% | 0.00% | 1.28% | 53.73% |
| Derivative | -0.01% | -26.67% | 16.13% | 90.55% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | WATPX % Rank | |
|---|---|---|---|---|
| US | 99.23% | 0.00% | 184.29% | 31.84% |
| Non US | 0.50% | 0.00% | 42.19% | 34.83% |
WATPX - Expenses
Operational Fees
| WATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.94% | 0.03% | 22.29% | 28.64% |
| Management Fee | 0.20% | 0.00% | 0.99% | 18.91% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 39.33% |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| WATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| WATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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.
| WATPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 80.00% | 0.00% | 246.00% | 68.75% |
WATPX - Distributions
Dividend Yield Analysis
| WATPX | Category Low | Category High | WATPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.57% | 0.00% | 14.25% | 68.66% |
Dividend Distribution Analysis
| WATPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Annual |
Net Income Ratio Analysis
| WATPX | Category Low | Category High | WATPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.89% | -0.06% | 6.71% | 46.97% |
Capital Gain Distribution Analysis
| WATPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.036 | OrdinaryDividend |
| Jun 28, 2024 | $0.163 | OrdinaryDividend |
| Mar 28, 2024 | $0.046 | OrdinaryDividend |
| Dec 19, 2023 | $0.026 | OrdinaryDividend |
| Sep 29, 2023 | $0.052 | OrdinaryDividend |
| Jun 30, 2023 | $0.123 | OrdinaryDividend |
| Mar 31, 2023 | $0.017 | OrdinaryDividend |
| Dec 20, 2022 | $0.088 | OrdinaryDividend |
| Sep 30, 2022 | $0.213 | OrdinaryDividend |
| Jun 30, 2022 | $0.219 | OrdinaryDividend |
| Mar 31, 2022 | $0.085 | OrdinaryDividend |
| Dec 20, 2021 | $0.103 | OrdinaryDividend |
| Dec 20, 2021 | $0.786 | CapitalGainShortTerm |
| Sep 30, 2021 | $0.271 | OrdinaryDividend |
| Jun 30, 2021 | $0.180 | OrdinaryDividend |
| Mar 31, 2021 | $0.044 | OrdinaryDividend |
| Dec 18, 2020 | $0.058 | OrdinaryDividend |
| Sep 30, 2020 | $0.039 | OrdinaryDividend |
| Mar 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 19, 2019 | $0.057 | OrdinaryDividend |
| Sep 30, 2019 | $0.058 | OrdinaryDividend |
| Jun 26, 2019 | $0.096 | DailyAccrualFund |
| Dec 18, 2018 | $0.045 | DailyAccrualFund |
| Jun 26, 2018 | $0.090 | DailyAccrualFund |
| Mar 26, 2018 | $0.034 | DailyAccrualFund |
| Dec 19, 2017 | $0.079 | DailyAccrualFund |
| Sep 27, 2017 | $0.009 | DailyAccrualFund |
| Jun 28, 2017 | $0.072 | DailyAccrualFund |
| Dec 08, 2016 | $0.007 | CapitalGainShortTerm |
| Dec 08, 2016 | $0.012 | CapitalGainLongTerm |
| Dec 11, 2014 | $0.005 | CapitalGainLongTerm |
| Dec 27, 2012 | $0.101 | CapitalGainLongTerm |
| Oct 04, 2012 | $0.045 | CapitalGainLongTerm |
| May 28, 2008 | $0.121 | CapitalGainShortTerm |
| May 28, 2008 | $0.078 | CapitalGainLongTerm |
WATPX - Fund Manager Analysis
Managers
S. Leech
Start Date
Tenure
Tenure Rank
Mar 31, 2014
8.17
8.2%
– 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
Frederick Marki
Start Date
Tenure
Tenure Rank
Aug 01, 2016
5.83
5.8%
Frederick R. Marki is a Portfolio manager of Western since 2005. He began his investment career in 1983 and has a BS from the Massachusetts Institute of Technology. Marki joined Western Asset in 2006. Prior to this, Marki was a director of Citigroup Asset Management and investment officer of the manager. and its predecessor companies.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 20.51 | 6.56 | 11.1 |