Western Asset Short Duration High Income Fund
Fund
LWHIX
Price as of:
$4.84
+ $0.01
+ 0.21%
Primary Theme
fund company
Name
As of 01/16/2025Price
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
Vitals
YTD Return
0.7%
1 yr return
9.1%
3 Yr Avg Return
3.3%
5 Yr Avg Return
3.6%
Net Assets
$460 M
Holdings in Top 10
10.8%
52 WEEK LOW AND HIGH
$4.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.69%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 88.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 01/16/2025Price
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
LWHIX - Profile
Distributions
- YTD Total Return 0.7%
- 3 Yr Annualized Total Return 3.3%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.74%
- Dividend Yield 6.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameWestern Asset Short Duration High Income Fund
-
Fund Family NameFRANKLIN TEMPLETON
-
Inception DateAug 01, 2012
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Buchanan
Fund Description
Under normal circumstances, the fund invests at least 80% of its assets in high yield debt securities. High yield securities are rated below investment grade (that is, securities rated below the Baa/BBB categories, or, if unrated, determined to be of comparable credit quality by the subadviser) and are commonly known as “high yield” or “junk” bonds.
The fund’s investments may include, but will not be limited to, high yield corporate debt securities and adjustable rate bank loans.
Although the fund may invest in securities of any maturity, the fund normally expects to maintain a dollar-weighted average effective duration, as estimated by the subadviser, of three years or less. Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of particular features of a security (for example, some bonds can be prepaid by the issuer).
Subject to its 80% investment policy, the fund may also invest in investment grade fixed income securities, including, but not limited to, corporate debt securities, mortgage- and asset-backed securities and securities issued by foreign issuers, including securities issued by issuers in emerging market countries. The fund’s investments in foreign securities may either be denominated in U.S. dollars or foreign currencies.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use instruments such as derivatives, including options, forwards, interest rate swaps and other swaps (including buying and selling credit default swaps and options on credit default swaps), foreign currency futures, forwards and options, and 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.
LWHIX - Performance
Return Ranking - Trailing
| Period | LWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.7% | -0.9% | 2.5% | 52.31% |
| 1 Yr | 9.1% | -9.1% | 18.9% | 43.89% |
| 3 Yr | 3.3%* | -14.6% | 21.5% | 35.34% |
| 5 Yr | 3.6%* | -12.2% | 36.7% | 40.07% |
| 10 Yr | 3.4%* | -4.8% | 20.2% | 80.42% |
* Annualized
Return Ranking - Calendar
| Period | LWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 0.8% | -9.4% | 11.8% | 49.67% |
| 2023 | 2.8% | -25.4% | 12.2% | 90.41% |
| 2022 | -11.7% | -33.4% | 3.6% | 12.88% |
| 2021 | 1.3% | -8.4% | 8.2% | 20.14% |
| 2020 | -1.3% | -13.2% | 302.7% | 74.29% |
Total Return Ranking - Trailing
| Period | LWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.7% | -0.9% | 2.5% | 52.31% |
| 1 Yr | 9.1% | -9.1% | 18.9% | 43.89% |
| 3 Yr | 3.3%* | -14.6% | 21.5% | 35.34% |
| 5 Yr | 3.6%* | -12.2% | 36.7% | 40.07% |
| 10 Yr | 3.4%* | -4.8% | 20.2% | 80.42% |
* Annualized
Total Return Ranking - Calendar
| Period | LWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 8.3% | -9.4% | 18.9% | 42.08% |
| 2023 | 10.5% | -12.7% | 18.7% | 80.50% |
| 2022 | -6.8% | -33.4% | 47.8% | 14.38% |
| 2021 | 5.8% | -8.4% | 12.4% | 36.46% |
| 2020 | 3.7% | -9.6% | 325.6% | 76.43% |
NAV & Total Return History
LWHIX - Holdings
Concentration Analysis
| LWHIX | Category Low | Category High | LWHIX % Rank | |
|---|---|---|---|---|
| Net Assets | 460 M | 3.13 M | 25.3 B | 57.33% |
| Number of Holdings | 345 | 2 | 3879 | 52.15% |
| Net Assets in Top 10 | 52.8 M | -492 M | 5.25 B | 65.23% |
| Weighting of Top 10 | 10.76% | 4.2% | 143.3% | 71.69% |
Top 10 Holdings
- American Airlines Inc 1.20%
- Carnival Corp 1.19%
- Venture Global LNG Inc 1.17%
- NCL Corp Ltd 1.11%
- First Quantum Minerals Ltd 1.10%
- LifePoint Health Inc 1.06%
- CoreCivic Inc 1.01%
- SPDR Bloomberg Short Term High Yield Bond ETF 1.00%
- GEO Group Inc/The 0.96%
- CHS/Community Health Systems Inc 0.96%
Asset Allocation
| Weighting | Return Low | Return High | LWHIX % Rank | |
|---|---|---|---|---|
| Bonds | 96.59% | 0.00% | 145.36% | 33.94% |
| Cash | 2.14% | -52.00% | 93.65% | 76.99% |
| Convertible Bonds | 2.07% | 0.00% | 17.89% | 22.02% |
| Stocks | 1.07% | 0.00% | 97.54% | 31.96% |
| Other | 0.19% | -39.08% | 99.86% | 32.45% |
| Preferred Stocks | 0.00% | 0.00% | 4.00% | 77.65% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LWHIX % Rank | |
|---|---|---|---|---|
| Financial Services | 83.96% | 0.00% | 100.00% | 5.95% |
| Consumer Cyclical | 15.35% | 0.00% | 100.00% | 17.26% |
| Energy | 0.69% | 0.00% | 100.00% | 68.75% |
| Utilities | 0.00% | 0.00% | 100.00% | 68.15% |
| Technology | 0.00% | 0.00% | 33.17% | 71.43% |
| Real Estate | 0.00% | 0.00% | 86.71% | 66.67% |
| Industrials | 0.00% | 0.00% | 93.12% | 70.24% |
| Healthcare | 0.00% | 0.00% | 22.17% | 65.18% |
| Communication Services | 0.00% | 0.00% | 99.99% | 81.55% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 66.67% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 68.15% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LWHIX % Rank | |
|---|---|---|---|---|
| US | 1.06% | 0.00% | 97.54% | 31.95% |
| Non US | 0.02% | -0.01% | 2.00% | 13.58% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | LWHIX % Rank | |
|---|---|---|---|---|
| Corporate | 87.35% | 0.00% | 100.00% | 85.24% |
| Securitized | 7.02% | 0.00% | 97.24% | 5.64% |
| Cash & Equivalents | 0.36% | 0.00% | 47.28% | 85.76% |
| Government | 0.24% | 0.00% | 99.07% | 24.88% |
| Derivative | 0.06% | -14.58% | 42.26% | 20.36% |
| Municipal | 0.00% | 0.00% | 1.17% | 61.69% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | LWHIX % Rank | |
|---|---|---|---|---|
| US | 96.59% | 0.00% | 126.57% | 26.49% |
| Non US | 0.00% | 0.00% | 97.54% | 75.50% |
LWHIX - Expenses
Operational Fees
| LWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.69% | 0.02% | 38.33% | 16.03% |
| Management Fee | 0.55% | 0.00% | 1.75% | 49.83% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 91.97% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| LWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 5.00% | 65.38% |
Trading Fees
| LWHIX 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.
| LWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 88.00% | 1.00% | 255.00% | 81.56% |
LWHIX - Distributions
Dividend Yield Analysis
| LWHIX | Category Low | Category High | LWHIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.42% | 0.00% | 11.76% | 26.64% |
Dividend Distribution Analysis
| LWHIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| LWHIX | Category Low | Category High | LWHIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.74% | -2.39% | 9.30% | 79.93% |
Capital Gain Distribution Analysis
| LWHIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 31, 2024 | $0.026 | OrdinaryDividend |
| Nov 29, 2024 | $0.027 | OrdinaryDividend |
| Oct 31, 2024 | $0.027 | OrdinaryDividend |
| Sep 30, 2024 | $0.024 | OrdinaryDividend |
| Aug 30, 2024 | $0.029 | OrdinaryDividend |
| Jul 31, 2024 | $0.027 | OrdinaryDividend |
| Apr 30, 2024 | $0.026 | OrdinaryDividend |
| Mar 28, 2024 | $0.027 | OrdinaryDividend |
| Feb 29, 2024 | $0.025 | OrdinaryDividend |
| Jan 31, 2024 | $0.027 | OrdinaryDividend |
| Dec 29, 2023 | $0.027 | OrdinaryDividend |
| Nov 30, 2023 | $0.026 | OrdinaryDividend |
| Oct 31, 2023 | $0.025 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.028 | OrdinaryDividend |
| Jul 31, 2023 | $0.026 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.027 | OrdinaryDividend |
| Apr 28, 2023 | $0.024 | OrdinaryDividend |
| Mar 31, 2023 | $0.029 | OrdinaryDividend |
| Feb 28, 2023 | $0.023 | OrdinaryDividend |
| Jan 31, 2023 | $0.025 | OrdinaryDividend |
| Dec 30, 2022 | $0.027 | OrdinaryDividend |
| Nov 30, 2022 | $0.024 | OrdinaryDividend |
| Oct 31, 2022 | $0.021 | OrdinaryDividend |
| Sep 30, 2022 | $0.024 | OrdinaryDividend |
| Aug 31, 2022 | $0.021 | OrdinaryDividend |
| Jul 29, 2022 | $0.021 | OrdinaryDividend |
| Jun 30, 2022 | $0.019 | OrdinaryDividend |
| May 31, 2022 | $0.017 | OrdinaryDividend |
| Apr 29, 2022 | $0.019 | OrdinaryDividend |
| Mar 31, 2022 | $0.017 | OrdinaryDividend |
| Feb 28, 2022 | $0.016 | OrdinaryDividend |
| Jan 31, 2022 | $0.017 | OrdinaryDividend |
| Dec 31, 2021 | $0.019 | OrdinaryDividend |
| Nov 30, 2021 | $0.017 | OrdinaryDividend |
| Oct 29, 2021 | $0.017 | OrdinaryDividend |
| Sep 30, 2021 | $0.017 | OrdinaryDividend |
| Aug 31, 2021 | $0.017 | OrdinaryDividend |
| Jul 30, 2021 | $0.017 | OrdinaryDividend |
| Jun 30, 2021 | $0.015 | OrdinaryDividend |
| May 28, 2021 | $0.016 | OrdinaryDividend |
| Apr 30, 2021 | $0.018 | OrdinaryDividend |
| Mar 31, 2021 | $0.019 | OrdinaryDividend |
| Feb 26, 2021 | $0.017 | OrdinaryDividend |
| Jan 29, 2021 | $0.016 | OrdinaryDividend |
| Dec 31, 2020 | $0.020 | OrdinaryDividend |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Oct 30, 2020 | $0.018 | OrdinaryDividend |
| Sep 30, 2020 | $0.018 | OrdinaryDividend |
| Aug 31, 2020 | $0.017 | OrdinaryDividend |
| Jul 31, 2020 | $0.022 | OrdinaryDividend |
| Jun 30, 2020 | $0.018 | OrdinaryDividend |
| May 29, 2020 | $0.019 | OrdinaryDividend |
| Apr 30, 2020 | $0.020 | OrdinaryDividend |
| Mar 31, 2020 | $0.020 | OrdinaryDividend |
| Feb 28, 2020 | $0.018 | OrdinaryDividend |
| Jan 31, 2020 | $0.020 | OrdinaryDividend |
| Dec 31, 2019 | $0.020 | OrdinaryDividend |
| Nov 29, 2019 | $0.021 | OrdinaryDividend |
| Oct 31, 2019 | $0.021 | OrdinaryDividend |
| Sep 30, 2019 | $0.019 | OrdinaryDividend |
| Aug 30, 2019 | $0.022 | OrdinaryDividend |
| Jul 31, 2019 | $0.021 | OrdinaryDividend |
LWHIX - Fund Manager Analysis
Managers
Michael Buchanan
Start Date
Tenure
Tenure Rank
Feb 10, 2006
16.31
16.3%
– Western Asset Management Company, LLC – Deputy Chief Investment Officer, 2005– – Credit Suisse Asset Management – Managing Director, Head of U.S. Credit Products, 2003–2005 – Janus Capital Management – Executive Vice President, Portfolio Manager, 2003 – BlackRock Financial Management – Managing Director, Portfolio Manager, 1998–2003 – Conseco Capital Management – Vice President, Portfolio Manager, 1990–1998 – Brown University, B.A. – Chartered Financial Analyst
Walter Kilcullen
Start Date
Tenure
Tenure Rank
Sep 01, 2012
9.75
9.8%
-Western Asset Management Company, LLC - Head of US High Yield, 2002-Present -Seix Investment Advisors - Head High Yield Trader, 1998-2002 -University of Massachusetts, Amherst, B.A. Economics
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
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.33 | 8.17 |