Morningstar

Western Asset Short Duration Municipal Income Fund Class I SMDYX

Medalist Rating as of Aug 25, 2026 See Franklin Templeton Investment Hub

Will SMDYX outperform in the future?

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

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Process Pillar

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

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

A transition awaits.

Associate Analyst Joe Bullard

Joe Bullard

Associate Analyst

Summary

Uncertainty raised from the merging of municipal-bond teams between Western Asset and Franklin Templeton Fixed Income leads to the resetting of Western Asset Short Duration Municipal Income’s People and Process rating to Average from Above Average.

by Joe Bullard

Rated on Aug 25, 2026 Published on Aug 25, 2026

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