Morningstar

Western Asset Short Duration Municipal Income Fund Class A SHDAX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 5.07  /  0.00
  • Total Assets 273.9M
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.59%
  • Effective Duration 2.15 years

USD | NAV as of Jun 10, 2026 | 1-Day Return as of Jun 10, 2026, 12:38 AM GMT+0

Morningstar’s Analysis SHDAX

Will SHDAX 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 SHDAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the SHDAX 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 SHDAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An experienced team makes ample use of evolving proprietary muni technology.

Associate Analyst Joe Bullard

Joe Bullard

Associate Analyst

Summary

Western Asset Short Duration Municipal Income’s experienced team and repeatable process are largely unaffected by allegations against former Chief Investment Officer Ken Leech.

by Joe Bullard
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings SHDAX

More SHDAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 21.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

INDIANAPOLIS IND LOC PUB IMPT BD BK 5%

2.71 7M
municipal

CONNECTICUT ST 4%

2.67 7M
municipal

DENVER COLO CITY & CNTY ARPT REV 5%

2.49 7M
municipal

TRIBOROUGH BRDG & TUNL AUTH N Y PAYROLL MOBILITY TAX 5%

2.42 7M
municipal

NEW JERSEY ST TRANSN TR FD AUTH 0%

2.03 6M
municipal

LONG IS PWR AUTH N Y ELEC SYS REV 3%

1.91 5M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5%

1.90 5M
municipal

NEW JERSEY ECONOMIC DEV AUTH MTR VEH SURCHARGES REV 5%

1.87 5M
municipal

ST JOHN BAPTIST PARISH LA REV 2.375%

1.82 5M
municipal

LOS ANGELES CALIF DEPT ARPTS REV 5%

1.78 5M
municipal

Sponsor Center