Morningstar

Western Asset Short Duration Municipal Income Fund Class I SMDYX

Morningstar Medalist Rating
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Medalist Rating as of See Franklin Templeton Investment Hub
  • NAV / 1-Day Return$5.04  /  0.00
  • Fund Size$271.6M
  • Adjusted Expense Ratio0.400%
  • Net Expense Ratio0.400%
  • Fee Level: DistributionAverage
  • Share Class TypeInstitutional
  • Morningstar CategoryMuni National Short
  • Fixed-Income Style Box (Funds)Medium/Limited
  • Minimum Initial Investment$1M
  • Investment StatusOpen
  • TTM Yield2.83%
  • Average Effective Duration2.23 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis SMDYX

Will SMDYX 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 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 Published on

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Portfolio Holdings SMDYX

More SMDYX Holdings
  • Current Portfolio Date
  • Equity Holdings—
  • Bond Holdings—
  • Other Holdings—
  • % Assets in Top 10 Holdings20.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

INDIANAPOLIS IND LOC PUB IMPT BD BK 5%

2.767M
municipal

DENVER COLO CITY & CNTY ARPT REV 5%

2.547M
municipal

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

2.476M
municipal

NEW JERSEY ST TRANSN TR FD AUTH 0%

2.136M
municipal

LONG IS PWR AUTH N Y ELEC SYS REV 3%

1.955M
municipal

NEW JERSEY ECONOMIC DEV AUTH MTR VEH SURCHARGES REV 5%

1.945M
municipal

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

1.915M
municipal

LOS ANGELES CALIF DEPT ARPTS ARPT REV 5%

1.825M
municipal

CONNECTICUT ST 5%

1.674M
municipal

DENTON TEX INDPT SCH DIST 4%

1.584M
municipal

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