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Name

As of 10/04/2024

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 SMASh SERIES CORE COMPLETION FUND

WAADX | Fund

$6.17

$322 M

6.08%

$0.38

0.07%

Vitals

YTD Return

4.9%

1 yr return

12.7%

3 Yr Avg Return

-9.8%

5 Yr Avg Return

N/A

Net Assets

$322 M

Holdings in Top 10

36.9%

52 WEEK LOW AND HIGH

$6.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 408.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/04/2024

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 SMASh SERIES CORE COMPLETION FUND

WAADX | Fund

$6.17

$322 M

6.08%

$0.38

0.07%

WAADX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return -9.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.24%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    WESTERN ASSET SMASh SERIES CORE COMPLETION FUND
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Aug 17, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ryan Brist

Fund Description

The fund has a flexible investment strategy and invests in a variety of securities and instruments and uses a variety of investment techniques in pursuing its objective. The fund presently intends to limit its investments to U.S. dollar denominated securities and currently anticipates that it will generally only purchase debt securities that are rated in the Baa or BBB categories or above 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 subadviser). These securities are known as “investment grade securities.” The fund may invest a substantial portion of its assets in mortgage-backed and asset-backed securities.
Currently the fund does not contemplate investing 25% or more of its assets in a single country or a small number of countries, except in the United States. The fund may invest in issuers located in emerging market countries. The subadviser may invest a significant portion of the fund’s assets in various industry sectors, to the extent consistent with the fund’s fundamental investment restrictions.
In purchasing debt obligations for the fund, the subadviser may take full advantage of the entire range of maturities and durations, and may adjust the average maturity or duration of the fund’s investments from time to time.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use instruments such as derivatives, including options, interest rate swaps, credit default swaps and options on credit default 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 funds’ investment strategies, investments and risks—Derivatives” in the Prospectus.
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.
The fund may borrow money to increase portfolio holdings, to the extent consistent with the fund’s fundamental investment restrictions.
The fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
Read More

WAADX - Performance

Return Ranking - Trailing

Period WAADX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -2.4% 11.7% 13.16%
1 Yr 12.7% -6.9% 24.6% 36.73%
3 Yr -9.8%* -9.8% 28.4% 100.00%
5 Yr N/A* -7.3% 58.8% N/A
10 Yr N/A* -2.6% 74.1% N/A

* Annualized

Return Ranking - Calendar

Period WAADX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.9% -16.2% 8.1% 99.38%
2022 -34.7% -34.7% 131.9% 100.00%
2021 -3.5% -11.6% 4.4% 51.64%
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period WAADX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -2.4% 11.7% 13.16%
1 Yr 12.7% -6.9% 24.6% 36.73%
3 Yr -9.8%* -9.8% 28.4% 100.00%
5 Yr N/A* -7.3% 58.8% N/A
10 Yr N/A* -2.6% 74.1% N/A

* Annualized

Total Return Ranking - Calendar

Period WAADX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -11.3% 11.9% 97.03%
2022 -32.2% -32.2% 131.9% 100.00%
2021 -1.8% -9.4% 9.2% 81.14%
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History

WAADX - Holdings

Concentration Analysis

WAADX Category Low Category High WAADX % Rank
Net Assets 322 M 2.9 M 314 B 75.31%
Number of Holdings 371 1 17787 73.72%
Net Assets in Top 10 122 M 1.62 M 36.1 B 68.51%
Weighting of Top 10 36.89% 4.4% 432.9% 22.28%

Top 10 Holdings

  1. Ginnie Mae 5.71%
  2. Ginnie Mae 4.42%
  3. Fannie Mae Pool 3.85%
  4. Fannie Mae or Freddie Mac 3.81%
  5. United States Treasury Note/Bond 3.72%
  6. BNY MELLON CASH RESERVE EOD FUND 3.39%
  7. United States Treasury Note/Bond 3.29%
  8. Fannie Mae or Freddie Mac 3.19%
  9. Morgan Stanley Capital I Trust 2018-MP 2.77%
  10. Colombia Government International Bond 2.74%

Asset Allocation

Weighting Return Low Return High WAADX % Rank
Bonds 		124.96% 0.00% 993.61% 5.51%
Cash 		3.39% -54.51% 237.69% 44.38%
Other 		3.15% -16.55% 52.94% 58.18%
Stocks 		0.00% 0.00% 99.99% 62.45%
Preferred Stocks 		0.00% 0.00% 71.02% 56.75%
Convertible Bonds 		0.00% 0.00% 7.93% 92.79%

Bond Sector Breakdown

Weighting Return Low Return High WAADX % Rank
Securitized 		70.48% 0.00% 98.40% 6.08%
Government 		12.02% 0.00% 86.23% 81.67%
Corporate 		8.03% 0.00% 100.00% 92.58%
Cash & Equivalents 		3.39% -0.46% 237.69% 43.35%
Derivative 		2.27% -1.41% 44.82% 3.89%
Municipal 		0.00% 0.00% 100.00% 84.35%

Bond Geographic Breakdown

Weighting Return Low Return High WAADX % Rank
US 		124.96% 0.00% 993.61% 4.09%
Non US 		0.00% 0.00% 35.41% 62.27%

WAADX - Expenses

Operational Fees

WAADX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.07% 0.01% 39.64% 97.43%
Management Fee 0.00% 0.00% 1.76% 1.03%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

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

Trading Fees

WAADX 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.

WAADX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 408.00% 2.00% 493.39% 90.45%

WAADX - Distributions

Dividend Yield Analysis

WAADX Category Low Category High WAADX % Rank
Dividend Yield 6.08% 0.00% 10.11% 1.33%

Dividend Distribution Analysis

WAADX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Quarterly

Net Income Ratio Analysis

WAADX Category Low Category High WAADX % Rank
Net Income Ratio 1.24% -1.28% 4.79% 78.56%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WAADX - Fund Manager Analysis

Managers

Ryan Brist

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

– Western Asset Management Company, LLC – Head of Global Investment Grade Credit/Portfolio Manager, 2009- – Logan Circle Partners, L.P. – Chief Investment Officer, Portfolio Manager, 2007-2009 – Delaware Investment Advisors – Co-Chief Investment Officer, Sr. Portfolio Manager, 2000-2007 – Conseco Capital Management – Vice President, Corporate Bond Trading, 1995-2000 – Dean Witter Reynolds – Analyst, Corporate Finance, Retail Products Group, 1993-1995 – Indiana University, B.S. Finance – Chartered Financial Analyst

Julien Scholnick

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

– Western Asset Management Company, LLC – Portfolio Manager, 2003- – Salomon Smith Barney – Associate, Private Client Group, 2000-2001 – Digital Coast Partners – Senior Analyst, 1999-2000 – Arthur Andersen, LLP – Senior Analyst, 1997-1999 – Cornell University, M.B.A. – University of California, Los Angeles, B.A., magna cum laude – Chartered Financial Analyst

S. Leech

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

– 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

Chia-Liang Lian

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

Chia-Liang Lian is currently Head of Emerging Markets Debt at Western Asset. Mr. Lian joined Western Asset in 2011 after approximately six years with Pacific Investment Management Company (PIMCO), where he served as Head of Emerging Asia Portfolio Management. Mr. Lian also spent eight years as a sovereign debt strategist at JPMorgan Chase and Merrill Lynch, and four years at the Monetary Authority of Singapore (MAS) as a senior economist responsible for formulating exchange rate policy. Under his leadership, Western Asset received Benchmark Magazine’s Best-In-Class House Award in Asia Fixed Income in 2012. Mr. Lian holds the Chartered Financial Analyst designation and has an undergraduate degree in Economics from the National University of Singapore where he graduated as part of the MAS scholars program.

Michael Buchanan

Start Date

Tenure

Tenure Rank

Aug 17, 2020

1.79

1.8%

– 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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16

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