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Morningstar

Western Asset Massachusetts Muni C SMALX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 11.60  /  0.02 %
  • Total Assets 66.1 Mil
  • Adj. Expense Ratio
    1.300%
  • Expense Ratio 1.300%
  • Distribution Fee Level Low
  • Share Class Type Level Load
  • Category Muni Massachusetts
  • Credit Quality / Interest Rate Sensitivity Medium / Extensive
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 1.59%
  • Effective Duration 8.32 years

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:16 PM GMT+00:00

Morningstar’s Analysis SMALX

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

People Pillar

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

Summary

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A middling Parent Pillar and a subpar Process Pillar help limit Western Asset Massachusetts Muni C to a Morningstar Quantitative Rating of Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

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