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Western Asset Ultra-Short Income Fund
mutual fund
LWAIX
Payout Change
Pending
Price as of:
$9.25
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
LWAIX (Mutual Fund)
Western Asset Ultra-Short Income Fund
Payout Change
Pending
Price as of:
$9.25
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
LWAIX (Mutual Fund)
Western Asset Ultra-Short Income Fund
Payout Change
Pending
Price as of:
$9.25
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
Name
As of 10/11/2024Price
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
4.4%
1 yr return
6.1%
3 Yr Avg Return
2.5%
5 Yr Avg Return
2.0%
Net Assets
$435 M
Holdings in Top 10
13.8%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.43%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 47.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
LWAIX - Profile
Distributions
- YTD Total Return 4.4%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.20%
- Dividend Yield 2.7%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameWestern Asset Ultra-Short Income Fund
-
Fund Family NameFRANKLIN TEMPLETON
-
Inception DateAug 01, 2012
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerS. Leech
Fund Description
Under normal circumstances, the fund will invest its assets in debt obligations, other fixed income securities and related investments. The fund may invest in all types of U.S. dollar denominated short-term debt instruments, including bank obligations, commercial paper and asset-backed securities, mortgage-backed securities (including U.S. government and privately issued mortgage-backed securities, collateralized mortgage obligations and mortgage-related derivative securities), U.S. government agency or instrumentality securities, corporate loans, corporate debt securities, structured instruments and repurchase agreements.
The fund focuses on investment grade bonds (that is, securities rated in the Baa/BBB categories or above or, if unrated, determined to be of comparable credit quality by the fund’s subadviser), but may invest up to 10% of its assets in below investment grade bonds (commonly known as “high yield” or “junk” bonds).
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 subadviser of less than or equal to one year. 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 invest up to 25% of its assets in U.S. dollar-denominated securities of foreign issuers, including mortgage-backed securities and asset-backed securities issued by foreign entities.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use instruments such as derivatives, including options and futures contracts, and other synthetic instruments that are intended to provide economic exposure to the securities or the issuer or to be used as a
hedging technique. The fund may use one or more types of these instruments without limit, subject to applicable regulatory requirements. For additional information regarding derivatives, see “More on the fund’s investment strategies, investments and risks—Derivatives” in the fund’s Prospectus.
The fund may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio (such as shortening or lengthening duration) and for other purposes.
The fund may borrow money to buy additional securities or for other purposes.
LWAIX - Performance
Return Ranking - Trailing
| Period | LWAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.4% | 0.0% | 7.2% | 80.56% |
| 1 Yr | 6.1% | 3.7% | 10.4% | 68.52% |
| 3 Yr | 2.5%* | -1.2% | 6.7% | 88.94% |
| 5 Yr | 2.0%* | -0.8% | 4.8% | 84.90% |
| 10 Yr | 1.7%* | -4.2% | 27.9% | 72.36% |
* Annualized
Return Ranking - Calendar
| Period | LWAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.9% | -2.3% | 4.3% | 7.87% |
| 2022 | -2.9% | -6.5% | 0.5% | 70.81% |
| 2021 | -0.9% | -2.1% | 0.3% | 87.19% |
| 2020 | 1.2% | -3.1% | 1.8% | 3.61% |
| 2019 | 1.0% | -1.2% | 6.1% | 19.57% |
Total Return Ranking - Trailing
| Period | LWAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.4% | 0.0% | 7.2% | 80.56% |
| 1 Yr | 6.1% | 3.7% | 10.4% | 68.52% |
| 3 Yr | 2.5%* | -1.2% | 6.7% | 88.94% |
| 5 Yr | 2.0%* | -0.8% | 4.8% | 84.90% |
| 10 Yr | 1.7%* | -4.2% | 27.9% | 72.36% |
* Annualized
Total Return Ranking - Calendar
| Period | LWAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.9% | 0.8% | 12.1% | 42.59% |
| 2022 | -1.7% | -5.1% | 2.5% | 87.08% |
| 2021 | -0.6% | -2.1% | 14.5% | 96.06% |
| 2020 | 2.6% | -1.0% | 3.6% | 17.53% |
| 2019 | 3.2% | 0.3% | 9.6% | 40.22% |
NAV & Total Return History
LWAIX - Holdings
Concentration Analysis
| LWAIX | Category Low | Category High | LWAIX % Rank | |
|---|---|---|---|---|
| Net Assets | 435 M | 26.3 K | 22.6 B | 64.81% |
| Number of Holdings | 471 | 2 | 1258 | 17.59% |
| Net Assets in Top 10 | 61.7 M | 23.7 K | 20 B | 72.69% |
| Weighting of Top 10 | 13.84% | 6.3% | 159.6% | 70.83% |
Top 10 Holdings
- United States Treasury Bill 3.03%
- Morgan Stanley 1.64%
- Wells Fargo Co 1.37%
- Bank of America Corp 1.23%
- Western Asset Premier Institutional Government Reserves 1.18%
- GM Financial Revolving Receivables Trust 2021-1 1.12%
- RABOBANK NEDERLAND 0 CP 05/06/2024 1.12%
- SVENSKA HANDELSBANKEN 0 CP 11/06/2024 1.12%
- United States Treasury Note/Bond 1.05%
- Goldman Sachs Group Inc/The 0.98%
Asset Allocation
| Weighting | Return Low | Return High | LWAIX % Rank | |
|---|---|---|---|---|
| Bonds | 84.08% | 0.00% | 129.63% | 39.35% |
| Other | 14.13% | -8.85% | 99.91% | 38.43% |
| Convertible Bonds | 2.66% | 0.00% | 15.25% | 52.09% |
| Cash | 1.80% | 0.00% | 110.60% | 73.61% |
| Stocks | 0.00% | 0.00% | 97.16% | 28.70% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 13.43% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | LWAIX % Rank | |
|---|---|---|---|---|
| Corporate | 46.91% | 0.00% | 99.91% | 37.21% |
| Securitized | 34.86% | 0.00% | 100.00% | 33.02% |
| Government | 8.81% | 0.00% | 100.00% | 32.56% |
| Cash & Equivalents | 1.18% | 0.00% | 110.60% | 69.91% |
| Municipal | 0.05% | 0.00% | 70.39% | 37.67% |
| Derivative | 0.00% | -8.85% | 16.56% | 77.31% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | LWAIX % Rank | |
|---|---|---|---|---|
| US | 84.08% | 0.00% | 129.63% | 37.96% |
| Non US | 0.00% | 0.00% | 20.18% | 27.31% |
LWAIX - Expenses
Operational Fees
| LWAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.43% | 0.02% | 29.63% | 5.61% |
| Management Fee | 0.30% | 0.00% | 1.19% | 68.06% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 96.47% |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| LWAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.50% | 5.75% | N/A |
| Deferred Load | 1.00% | 0.25% | 1.00% | 7.14% |
Trading Fees
| LWAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 1.00% | 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.
| LWAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 47.00% | 0.00% | 369.54% | 20.88% |
LWAIX - Distributions
Dividend Yield Analysis
| LWAIX | Category Low | Category High | LWAIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.69% | 0.00% | 8.76% | 95.83% |
Dividend Distribution Analysis
| LWAIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| LWAIX | Category Low | Category High | LWAIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.20% | -1.30% | 14.86% | 96.15% |
Capital Gain Distribution Analysis
| LWAIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.021 | OrdinaryDividend |
| Aug 30, 2024 | $0.025 | OrdinaryDividend |
| Jul 31, 2024 | $0.023 | OrdinaryDividend |
| Apr 30, 2024 | $0.022 | OrdinaryDividend |
| Mar 28, 2024 | $0.022 | OrdinaryDividend |
| Feb 29, 2024 | $0.020 | OrdinaryDividend |
| Jan 31, 2024 | $0.021 | OrdinaryDividend |
| Dec 29, 2023 | $0.023 | OrdinaryDividend |
| Nov 30, 2023 | $0.024 | OrdinaryDividend |
| Oct 31, 2023 | $0.020 | OrdinaryDividend |
| Sep 29, 2023 | $0.019 | OrdinaryDividend |
| Aug 31, 2023 | $0.022 | OrdinaryDividend |
| Jul 31, 2023 | $0.019 | OrdinaryDividend |
| Jun 30, 2023 | $0.021 | OrdinaryDividend |
| May 31, 2023 | $0.019 | OrdinaryDividend |
| Apr 28, 2023 | $0.017 | OrdinaryDividend |
| Mar 31, 2023 | $0.020 | OrdinaryDividend |
| Feb 28, 2023 | $0.016 | OrdinaryDividend |
| Jan 31, 2023 | $0.016 | OrdinaryDividend |
| Dec 30, 2022 | $0.018 | OrdinaryDividend |
| Nov 30, 2022 | $0.018 | OrdinaryDividend |
| Oct 31, 2022 | $0.013 | OrdinaryDividend |
| Sep 30, 2022 | $0.013 | OrdinaryDividend |
| Aug 31, 2022 | $0.011 | OrdinaryDividend |
| Jul 29, 2022 | $0.009 | OrdinaryDividend |
| Jun 30, 2022 | $0.007 | OrdinaryDividend |
| May 31, 2022 | $0.006 | OrdinaryDividend |
| Apr 29, 2022 | $0.004 | OrdinaryDividend |
| Mar 31, 2022 | $0.003 | OrdinaryDividend |
| Feb 28, 2022 | $0.002 | OrdinaryDividend |
| Jan 31, 2022 | $0.002 | OrdinaryDividend |
| Dec 31, 2021 | $0.002 | OrdinaryDividend |
| Nov 30, 2021 | $0.002 | OrdinaryDividend |
| Oct 29, 2021 | $0.000 | OrdinaryDividend |
| Sep 30, 2021 | $0.001 | OrdinaryDividend |
| Aug 31, 2021 | $0.001 | OrdinaryDividend |
| Jul 30, 2021 | $0.001 | OrdinaryDividend |
| Jun 30, 2021 | $0.000 | OrdinaryDividend |
| May 28, 2021 | $0.001 | OrdinaryDividend |
| Apr 30, 2021 | $0.002 | OrdinaryDividend |
| Mar 31, 2021 | $0.002 | OrdinaryDividend |
| Feb 26, 2021 | $0.003 | OrdinaryDividend |
| Jan 29, 2021 | $0.003 | OrdinaryDividend |
| Dec 31, 2020 | $0.005 | OrdinaryDividend |
| Nov 30, 2020 | $0.042 | OrdinaryDividend |
| Oct 30, 2020 | $0.003 | OrdinaryDividend |
| Sep 30, 2020 | $0.002 | OrdinaryDividend |
| Aug 31, 2020 | $0.002 | OrdinaryDividend |
| Jul 31, 2020 | $0.006 | OrdinaryDividend |
| Jun 30, 2020 | $0.005 | OrdinaryDividend |
| May 29, 2020 | $0.007 | OrdinaryDividend |
| Apr 30, 2020 | $0.010 | OrdinaryDividend |
| Mar 31, 2020 | $0.011 | OrdinaryDividend |
| Feb 28, 2020 | $0.009 | OrdinaryDividend |
| Jan 31, 2020 | $0.010 | OrdinaryDividend |
| Dec 31, 2019 | $0.010 | OrdinaryDividend |
| Nov 29, 2019 | $0.046 | OrdinaryDividend |
| Oct 31, 2019 | $0.011 | OrdinaryDividend |
| Sep 30, 2019 | $0.011 | OrdinaryDividend |
| Aug 30, 2019 | $0.013 | OrdinaryDividend |
| Jul 31, 2019 | $0.014 | OrdinaryDividend |
| Dec 18, 2015 | $0.027 | ExtraDividend |
LWAIX - 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
John Bellows
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
– Western Asset Management Company, LLC – Portfolio Manager, 2012- – U.S. Department of the Treasury – Acting Assistant Secretary for Economic Policy; Deputy Assistant Secretary for Microeconomic Analysis; Senior Advisor in the Office of Economic Policy, 2009-2011 – University of California, Berkeley, PhD Economics – Dartmouth College, B.A. Economics, magna cum laude – Chartered Financial Analyst
Nicholas Mastroianni
Start Date
Tenure
Tenure Rank
Sep 01, 2021
0.75
0.8%
Portfolio Manager and has been employed by Western Asset as an investment professional for at least the past five years
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 32.44 | 6.56 | 7.92 |
