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Trending ETFs

Name

As of 03/26/2024

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

$9.70

$300 M

0.00%

$0.00

2.30%

Vitals

YTD Return

-4.4%

1 yr return

7.9%

3 Yr Avg Return

-2.5%

5 Yr Avg Return

-0.2%

Net Assets

$300 M

Holdings in Top 10

39.5%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.30%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 70.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$9.70

$300 M

0.00%

$0.00

2.30%

LAACX - Profile

Distributions

  • YTD Total Return -4.4%
  • 3 Yr Annualized Total Return -2.5%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.77%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Western Asset Macro Opportunities Fund
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Aug 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    S. Leech

Fund Description

Under normal circumstances, the fund seeks to achieve its investment objective by implementing an opportunistic investing strategy. The fund attempts to identify and capitalize on attractive relative-value opportunities principally in fixed income markets around the globe by investing in a variety of securities and other instruments (for example, by comparing spreads with a subadviser’s assessment of an issuer’s creditworthiness or by seeking to profit from the relative values of two related financial instruments by taking a single long or short position or by taking a long position with respect to one and a short position with respect to the other). Although the fund does not expect to invest in individual equities it may also invest in equity-related strategies, such as equity index futures and swaps, to the extent a subadviser believes those strategies are consistent with the fund’s overall objective and strategy. The fund’s trading strategy is expected to include positions based on longer-term outlooks, such as the subadvisers’ views on long-term macroeconomic themes, and shorter-term circumstances. The fund has fewer restrictions than other fixed income funds and expects to trade actively.
The fund may enter into various derivative transactions for both hedging and non-hedging purposes, including for purposes of enhancing returns. These derivative transactions include, but are not limited to, futures, options, swaps and foreign currency futures, forwards and options.
In particular, the fund may use certain derivatives, including bond and interest rate futures, options on bonds, options on bond and interest rate futures, interest rate options, interest rate swaps, credit default swaps (on individual securities and/or baskets of securities), other options (including options on credit default swaps and options on currency forwards, futures and swaps), other futures, swaps, forwards, options on swaps, options on forwards, and mortgage-backed securities to a significant extent, although the amounts invested in these instruments may change from time to time.
Non-dollar securities may be held on a currency-hedged or -unhedged basis. The fund may engage (although it may choose not to) in currency exchange transactions to protect against uncertainty in the level of future exchange rates or to enhance returns. The fund may also engage in short sales or may otherwise hold short positions.
The derivatives used by the fund may represent a form of investment leverage in that the potential exposure of the fund may exceed its net assets. See “Leverage Risk” below for further discussion of related risks.
Although the fund may invest in securities of any maturity, the fund normally expects to maintain a dollar-weighted average effective duration (including futures positions), as estimated by the fund’s subadvisers, within the range of -5 to 10 years. Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of structural complexities (for example, some bonds can be prepaid by the issuer). The fund may invest in debt and fixed income securities of any credit quality, including securities that are in default.
In addition, under normal circumstances, at the time of purchase:
No more than 75% of the fund’s net assets may be invested in non-dollar denominated securities.
No more than 50% of the fund’s net assets may be invested in un-hedged non-U.S. dollar denominated securities, currency futures, forwards, or options measured at notional value, excluding instruments used for hedging purposes.
No more than 50% of the fund’s net assets may be invested in debt and other fixed income securities rated below the Baa or BBB categories at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (“NRSROs”) or unrated securities of comparable quality at the time of purchase (as determined by the subadvisers). Securities rated below investment grade (i.e., securities rated below the Baa/BBB categories) are commonly known as “junk bonds” or “high yield securities.”
No more than 50% of the fund’s net assets may be invested in securities of issuers in emerging markets.
The fund considers a country to be an emerging market country if, at the time of investment, it is represented in the J.P. Morgan Emerging Market Bond Index Global or the J.P. Morgan Corporate Emerging Market Bond Index Broad or categorized by the World Bank in its annual categorization as middle- or low-income.
The fund is permitted to invest in securities issued or guaranteed by the government of the United States or any of the G-7 countries, including their agencies, instrumentalities and political sub-divisions, without limit; however, (i) no more than 10% of the fund’s net assets may be invested in securities issued or guaranteed by a single government that is a non-G-7 country, including its agencies, instrumentalities and sub-divisions; and (ii) other than as described above, no more than 5% of the fund’s net assets may be invested in the obligations of any single issuer, excluding investments in commingled investment vehicles.
The fund is “non-diversified” within the meaning of the Investment Company Act of 1940, as amended. As a result, the value of its shares will be more susceptible to any single economic, political or regulatory event affecting one or a small number of issuers than shares of a diversified fund. Because the fund may focus a significant portion of its investments in a single country or currency, it will be more susceptible to factors adversely affecting such currency or issuers within that country than would a more diversified portfolio of securities. The fund’s likely focus on a limited number of investment strategies at any given time subjects it to similar risks.
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LAACX - Performance

Return Ranking - Trailing

Period LAACX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.4% -6.5% 5.7% 99.85%
1 Yr 7.9% -9.3% 24.0% 40.49%
3 Yr -2.5%* -16.7% 18.1% 90.73%
5 Yr -0.2%* -13.0% 15.2% 89.12%
10 Yr 1.8%* -13.4% 6.7% 70.66%

* Annualized

Return Ranking - Calendar

Period LAACX Return Category Return Low Category Return High Rank in Category (%)
2023 14.8% -12.0% 15.7% 0.77%
2022 -21.8% -31.8% 18.4% 95.25%
2021 -3.2% -26.6% 25.7% 77.29%
2020 5.8% -49.2% 18.7% 11.66%
2019 5.1% -35.1% 15.3% 42.86%

Total Return Ranking - Trailing

Period LAACX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.4% -6.5% 5.7% 99.85%
1 Yr 7.9% -9.3% 24.0% 40.49%
3 Yr -2.5%* -16.7% 18.1% 90.73%
5 Yr -0.2%* -13.0% 15.2% 89.12%
10 Yr 1.8%* -13.4% 6.7% 70.66%

* Annualized

Total Return Ranking - Calendar

Period LAACX Return Category Return Low Category Return High Rank in Category (%)
2023 14.8% -7.0% 22.2% 1.39%
2022 -21.8% -31.8% 21.1% 97.63%
2021 -1.5% -13.5% 49.9% 89.05%
2020 5.8% -28.6% 24.1% 48.41%
2019 15.5% -4.8% 19.1% 2.48%

NAV & Total Return History


LAACX - Holdings

Concentration Analysis

LAACX Category Low Category High LAACX % Rank
Net Assets 300 M 2.32 M 127 B 57.83%
Number of Holdings 313 2 10577 54.48%
Net Assets in Top 10 129 M -1.57 B 65.8 B 52.35%
Weighting of Top 10 39.47% 0.7% 170.6% 26.23%

Top 10 Holdings

  1. Mexican Bonos 5.47%
  2. United States Treasury Note/Bond 5.40%
  3. IRS USD 4.88%
  4. Inter-American Development Bank 4.52%
  5. Republic of Poland Government Bond 4.18%
  6. US TREASURY LONG BOND 3.47%
  7. United States Treasury Note/Bond 3.34%
  8. Republic of South Africa Government Bond 2.83%
  9. Indonesia Treasury Bond 2.77%
  10. Indonesia Treasury Bond 2.60%

Asset Allocation

Weighting Return Low Return High LAACX % Rank
Bonds
94.93% -150.81% 203.29% 18.82%
Other
12.72% -72.32% 100.00% 89.53%
Convertible Bonds
1.68% 0.00% 33.50% 43.46%
Cash
0.34% -94.66% 258.91% 64.19%
Stocks
0.09% -1.60% 99.88% 59.94%
Preferred Stocks
0.00% 0.00% 30.46% 91.50%

Stock Sector Breakdown

Weighting Return Low Return High LAACX % Rank
Financial Services
68.77% 0.00% 100.00% 10.67%
Energy
31.23% 0.00% 100.00% 31.46%
Utilities
0.00% 0.00% 100.00% 91.57%
Technology
0.00% 0.00% 28.30% 90.73%
Real Estate
0.00% 0.00% 100.00% 92.42%
Industrials
0.00% 0.00% 100.00% 92.42%
Healthcare
0.00% 0.00% 18.60% 90.73%
Communication Services
0.00% 0.00% 100.00% 92.98%
Consumer Defense
0.00% 0.00% 99.97% 90.17%
Consumer Cyclical
0.00% 0.00% 89.95% 92.70%
Basic Materials
0.00% 0.00% 100.00% 91.85%

Stock Geographic Breakdown

Weighting Return Low Return High LAACX % Rank
US
0.09% -1.47% 99.88% 57.51%
Non US
0.00% -0.13% 17.73% 89.68%

Bond Sector Breakdown

Weighting Return Low Return High LAACX % Rank
Government
23.06% 0.00% 99.43% 25.35%
Corporate
16.55% 0.00% 96.66% 73.08%
Derivative
12.06% -72.32% 37.37% 95.43%
Securitized
4.90% 0.00% 99.65% 75.59%
Cash & Equivalents
0.34% 0.00% 88.14% 57.99%
Municipal
0.20% 0.00% 54.26% 29.89%

Bond Geographic Breakdown

Weighting Return Low Return High LAACX % Rank
US
62.13% -151.11% 203.29% 64.64%
Non US
32.80% 0.00% 67.77% 9.26%

LAACX - Expenses

Operational Fees

LAACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.30% 0.01% 20.67% 12.86%
Management Fee 1.15% 0.00% 2.29% 89.01%
12b-1 Fee 1.00% 0.00% 1.00% 97.47%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

LAACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 87.06%

Trading Fees

LAACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

LAACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 70.00% 0.00% 632.00% 41.58%

LAACX - Distributions

Dividend Yield Analysis

LAACX Category Low Category High LAACX % Rank
Dividend Yield 0.00% 0.00% 18.15% 100.00%

Dividend Distribution Analysis

LAACX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Quarterly

Net Income Ratio Analysis

LAACX Category Low Category High LAACX % Rank
Net Income Ratio 1.77% -1.55% 11.51% 83.20%

Capital Gain Distribution Analysis

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

Distributions History

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LAACX - Fund Manager Analysis

Managers

S. Leech


Start Date

Tenure

Tenure Rank

Aug 30, 2013

8.76

8.8%

– 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

Prashant Chandran


Start Date

Tenure

Tenure Rank

Aug 30, 2013

8.76

8.8%

– Western Asset Management Company, LLC – Portfolio Manager, 2007- – Tahoma Capital – 2005-2007 – Western Asset Management Company – Research Analyst, 2005 – Microsoft Corporation – Director, Capital Markets, 1999-2005 – University of Chicago, Graduate School of Business, M.B.A – University of Toledo, M.Sc. – Indian Institute of Technology, Bombay, B.Sc. – Chartered Financial Analyst

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19