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Western Asset Mortgage Total Return Fund

mutual fund
LWMSX
Payout Change
Pending
Price as of:
$8.13 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
A (SGVAX) Other (SGVSX) I (LMBSX) C (LWMSX) C1 (SGSLX) I (SGSYX)
LWMSX (Mutual Fund)

Western Asset Mortgage Total Return Fund

Payout Change
Pending
Price as of:
$8.13 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
A (SGVAX) Other (SGVSX) I (LMBSX) C (LWMSX) C1 (SGSLX) I (SGSYX)
LWMSX (Mutual Fund)

Western Asset Mortgage Total Return Fund

Payout Change
Pending
Price as of:
$8.13 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
A (SGVAX) Other (SGVSX) I (LMBSX) C (LWMSX) C1 (SGSLX) I (SGSYX)

Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Western Asset Mortgage Total Return Fund

LWMSX | Fund

$8.13

$388 M

4.25%

$0.35

1.64%

Vitals

YTD Return

1.8%

1 yr return

2.0%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

-1.8%

Net Assets

$388 M

Holdings in Top 10

30.9%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.64%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 52.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Western Asset Mortgage Total Return Fund

LWMSX | Fund

$8.13

$388 M

4.25%

$0.35

1.64%

LWMSX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return -1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.30%
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Western Asset Mortgage Total Return Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Aug 01, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    S. Leech

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in mortgage-backed securities. Mortgage-backed securities may be issued by private issuers, U.S. government-sponsored entities such as the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) and by agencies of the U.S. government, such as the Government National Mortgage Association (Ginnie Mae). Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by real property. These securities may or may not be backed by the full faith and credit of the U.S. government. Even when the U.S. government guarantees principal and interest payments on securities, this guarantee does not apply to losses resulting from declines in the market value of these securities. The fund may invest in government stripped mortgage-backed securities and other stripped securities. The fund may invest in securities of any maturity or duration, and the securities may have fixed, floating or variable rates. The fund may enter into dollar rolls (sometimes referred to as mortgage dollar rolls).
The fund will not invest more than 25% of its assets in mortgage-backed securities that are not issued or guaranteed by, or comprised of mortgage-backed securities issued or guaranteed by, a U.S. government agency or U.S. government-sponsored entity.
The fund focuses on securities rated investment grade (that is, securities rated in the Baa/BBB categories or above, or, if unrated, determined to be of comparable credit quality by the subadviser). The fund may invest up to 20% of its assets in securities rated below investment grade, or, if unrated, determined to be below investment grade by the subadviser.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use instruments such as derivatives, including options, swaps, interest rate swaps, futures contracts, and other synthetic instruments that are intended to provide economic exposure to the securities or the issuer or to be used as a hedging technique. The fund may use one or more types of these instruments without limit, subject to applicable regulatory requirements. For additional information regarding derivatives, see “More on the fund’s investment strategies, investments and risks-Derivatives” in the Prospectus. These instruments are taken into account when determining compliance with the fund’s 80% policy.
The fund may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio (such as shortening or lengthening duration) and for other purposes.
Read More

LWMSX - Performance

Return Ranking - Trailing

Period LWMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -7.8% 11.6% 41.60%
1 Yr 2.0% -7.5% 11.7% 43.05%
3 Yr -3.5%* -11.0% 27.4% 87.21%
5 Yr -1.8%* -7.6% 58.4% 96.66%
10 Yr 0.3%* -3.0% 73.8% 95.22%

* Annualized

Return Ranking - Calendar

Period LWMSX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.6% -16.2% 8.1% 95.63%
2022 -16.9% -34.7% 131.9% 75.43%
2021 -1.9% -11.6% 4.4% 5.67%
2020 -1.2% -9.9% 946.1% 98.16%
2019 1.6% -1.7% 16.9% 97.72%

Total Return Ranking - Trailing

Period LWMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -7.8% 11.6% 41.60%
1 Yr 2.0% -7.5% 11.7% 43.05%
3 Yr -3.5%* -11.0% 27.4% 87.21%
5 Yr -1.8%* -7.6% 58.4% 96.66%
10 Yr 0.3%* -3.0% 73.8% 95.22%

* Annualized

Total Return Ranking - Calendar

Period LWMSX Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -11.3% 11.9% 96.36%
2022 -14.3% -32.2% 131.9% 72.98%
2021 0.3% -9.4% 9.2% 17.69%
2020 1.8% -1.9% 1009.0% 98.85%
2019 5.4% 1.1% 21668.0% 96.88%

NAV & Total Return History

LWMSX - Holdings

Concentration Analysis

LWMSX Category Low Category High LWMSX % Rank
Net Assets 388 M 2.9 M 314 B 71.71%
Number of Holdings 578 1 17880 57.42%
Net Assets in Top 10 126 M 1.62 M 35.1 B 68.95%
Weighting of Top 10 30.90% 4.7% 3984.6% 28.15%

Top 10 Holdings

  1. Western Asset Premier Institutional Government Reserves 8.24%
  2. Fannie Mae or Freddie Mac 4.37%
  3. Fannie Mae or Freddie Mac 4.30%
  4. Fannie Mae or Freddie Mac 3.40%
  5. Fannie Mae or Freddie Mac 2.76%
  6. Freddie Mac Gold Pool 1.88%
  7. Fannie Mae or Freddie Mac 1.72%
  8. Fannie Mae or Freddie Mac 1.58%
  9. Fannie Mae or Freddie Mac 1.37%
  10. Fannie Mae Pool 1.26%

Asset Allocation

Weighting Return Low Return High LWMSX % Rank
Bonds 		103.36% 0.00% 9231.88% 17.31%
Other 		12.55% -27.25% 1695.17% 19.73%
Cash 		8.24% -54.51% 237.69% 20.56%
Preferred Stocks 		1.12% 0.00% 72.34% 5.19%
Stocks 		0.00% 0.00% 99.98% 78.86%
Convertible Bonds 		0.00% 0.00% 7.93% 95.92%

Bond Sector Breakdown

Weighting Return Low Return High LWMSX % Rank
Securitized 		93.87% 0.00% 98.40% 1.36%
Cash & Equivalents 		8.24% 0.00% 237.69% 21.08%
Corporate 		0.68% 0.00% 100.00% 94.67%
Derivative 		0.02% -6.56% 43.84% 29.60%
Municipal 		0.00% 0.00% 100.00% 91.11%
Government 		0.00% 0.00% 86.23% 99.16%

Bond Geographic Breakdown

Weighting Return Low Return High LWMSX % Rank
US 		103.36% 0.00% 9042.62% 15.99%
Non US 		0.00% 0.00% 189.26% 80.79%

LWMSX - Expenses

Operational Fees

LWMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.64% 0.01% 39.64% 7.31%
Management Fee 0.50% 0.00% 1.76% 91.40%
12b-1 Fee 1.00% 0.00% 1.00% 94.97%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

LWMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load 1.00% 1.00% 4.00% 68.09%

Trading Fees

LWMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LWMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 52.00% 2.00% 493.39% 20.75%

LWMSX - Distributions

Dividend Yield Analysis

LWMSX Category Low Category High LWMSX % Rank
Dividend Yield 4.25% 0.00% 10.11% 45.80%

Dividend Distribution Analysis

LWMSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Quarterly

Net Income Ratio Analysis

LWMSX Category Low Category High LWMSX % Rank
Net Income Ratio 0.30% -1.28% 4.79% 98.36%

Capital Gain Distribution Analysis

LWMSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

LWMSX - Fund Manager Analysis

Managers

S. Leech

Start Date

Tenure

Tenure Rank

Mar 31, 2014

8.17

8.2%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Sean Johnson

Start Date

Tenure

Tenure Rank

May 01, 2018

4.08

4.1%

Greg Handler

Start Date

Tenure

Tenure Rank

Jan 31, 2019

3.33

3.3%

Greg E. Handler is the Portfolio Manager of Legg Mason Partners Fund Advisor, LLC.

Ion Dan

Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Vice President, Portfolio Manager, Senior Structured Products Analyst, Trader Ion Dan is a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. He is lead co-portfolio manager for the Absolute Return MBS strategy, and senior analyst and trader for agency mortgage-backed securities (MBS). Dan joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in April 2011 as part of the firm’s integration of Macquarie Allegiance Capital, with responsibility for evaluating and trading agency MBS. Previously, he spent 10 years with Macquarie Allegiance, most recently as MBS sector manager and portfolio manager. Dan started his career as a junior options trader on the PCX Exchange. He earned bachelor’s degrees in both business administration and economics from the University of California at Berkeley.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16

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