Morningstar

Western Asset Ultra-Short Income Fund Class I SBAYX

Morningstar Medalist Rating
Unlock
Medalist Rating as of See Franklin Templeton Investment Hub
  • NAV / 1-Day Return$9.18  /  −0.11%
  • Fund Size$539.6M
  • Adjusted Expense Ratio0.380%
  • Net Expense Ratio0.380%
  • Fee Level: DistributionAbove Average
  • Share Class TypeInstitutional
  • Morningstar CategoryUltrashort Bond
  • Fixed-Income Style Box (Funds)Medium/Limited
  • Minimum Initial Investment$1M
  • Investment StatusOpen
  • TTM Yield4.22%
  • Average Effective Duration0.69 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis SBAYX

Will SBAYX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable SBAYX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the SBAYX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of SBAYX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Western Asset Ultra-Short Income I holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings SBAYX

More SBAYX Holdings
  • Current Portfolio Date
  • Equity Holdings—
  • Bond Holdings—
  • Other Holdings—
  • % Assets in Top 10 Holdings9.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Western Asset Prem Instl Govtt Rsrv Pref

3.7119M
Cash and Equivalents

United States Treasury Notes 4%

2.9415M
Government

United States Treasury Notes 3.75%

2.4212M
Government

United States Treasury Bills 0%

1.719M
Government

ING Bank N.V. 0%

0.975M
Cash and Equivalents

Australia & New Zealand Banking Group Ltd. 0%

0.975M
Cash and Equivalents

Citigroup Inc. 4.643%

0.945M
Corporate

Wells Fargo & Co. 5.707%

0.884M
Corporate

Federal Home Loan Banks 0%

0.854M
Government

Mars Inc. 4.6%

0.834M
Corporate

Sponsor Center

Site Index
United States Flag United States

© Copyright 2026 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.