Fund
WAYAX
Price as of:
$7.07
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 10/01/2024Price
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
7.9%
1 yr return
14.8%
3 Yr Avg Return
1.3%
5 Yr Avg Return
3.7%
Net Assets
$234 M
Holdings in Top 10
9.1%
52 WEEK LOW AND HIGH
$7.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.99%
SALES FEES
Front Load 4.25%
Deferred Load N/A
TRADING FEES
Turnover 101.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/01/2024Price
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
WAYAX - Profile
Distributions
- YTD Total Return 7.9%
- 3 Yr Annualized Total Return 1.3%
- 5 Yr Annualized Total Return 3.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.80%
- Dividend Yield 8.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameWestern Asset High Yield Fund
-
Fund Family NameFRANKLIN TEMPLETON
-
Inception DateApr 30, 2012
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Buchanan
Fund Description
Under normal market conditions, the fund will invest at least 80% of its net assets in U.S. dollar denominated debt or fixed income securities that are rated below investment grade at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (“NRSROs”) or are of a comparable quality as determined by the subadviser. The fund considers securities that are rated below the Baa or BBB categories to be rated below investment grade. Securities rated below investment grade are commonly known as “junk bonds” or “high yield securities.”
In deciding among the securities in which the fund may invest, the subadviser takes into account the credit quality, country of issue, interest rate, liquidity, maturity and yield of a security as well as other factors, including the fund’s effective duration and prevailing and anticipated market conditions. 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.) The fund may invest in securities of any maturity. The maturity of a fixed income security is a measure of the time remaining until the final payment on the security is due. The fund is permitted to invest up to 20% of its total assets in non‑U.S. dollar denominated non‑U.S. securities.
As part of its principal investment strategies, the fund may invest in asset- and mortgage-backed securities, which includes privately-issued and non‑investment grade mortgage-backed securities, asset-backed securities and collateralized debt obligations, as well as loans, including senior loans, junior (or other subordinated loans) and covenant-lite loans, and inflation-indexed securities.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use derivatives, including futures, such as bond and interest rate futures, options on bond and interest rate futures, swaps, foreign currency futures, forwards and options. In particular, the fund may use interest rate swaps, credit default swaps (including buying and selling credit default swaps on individual securities and/or baskets of securities), options (including options on credit default swaps), and/or futures contracts to a significant extent, although the amounts invested in these instruments may change from time to time. To the extent that the fund counts derivatives towards compliance with its 80% policy, such instruments are valued based on their market value or fair value (determined in accordance with the fund’s valuation procedures) or, when the subadviser determines that the
notional value of such instruments is a more appropriate measure of the fund’s exposure to economic characteristics of investments that are consistent with the fund’s 80% policy, at such notional value. The fund may use currency related transactions involving futures contracts, options on futures contracts, indexed securities and other derivative instruments (collectively, “Financial Instruments”). These Financial Instruments may be used without limit, subject to applicable regulatory requirements, for either hedging purposes, or to implement a currency investment strategy.
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.
WAYAX - Performance
Return Ranking - Trailing
| Period | WAYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.9% | -5.3% | 15.1% | 30.81% |
| 1 Yr | 14.8% | -1.6% | 18.7% | 59.52% |
| 3 Yr | 1.3%* | -14.9% | 21.2% | 81.68% |
| 5 Yr | 3.7%* | -11.9% | 37.4% | 57.79% |
| 10 Yr | 3.5%* | -5.1% | 20.2% | 67.37% |
* Annualized
Return Ranking - Calendar
| Period | WAYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.1% | -4.7% | 14.3% | 77.67% |
| 2022 | -18.9% | -33.4% | 3.6% | 90.20% |
| 2021 | 0.7% | -8.4% | 8.2% | 29.49% |
| 2020 | 0.7% | -13.2% | 302.7% | 31.59% |
| 2019 | 8.7% | -4.4% | 13.3% | 33.93% |
Total Return Ranking - Trailing
| Period | WAYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.9% | -5.3% | 15.1% | 30.81% |
| 1 Yr | 14.8% | -1.6% | 18.7% | 59.52% |
| 3 Yr | 1.3%* | -14.9% | 21.2% | 81.68% |
| 5 Yr | 3.7%* | -11.9% | 37.4% | 57.79% |
| 10 Yr | 3.5%* | -5.1% | 20.2% | 67.37% |
* Annualized
Total Return Ranking - Calendar
| Period | WAYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.7% | -4.7% | 18.7% | 35.28% |
| 2022 | -13.3% | -33.4% | 47.8% | 88.56% |
| 2021 | 6.0% | -8.4% | 12.4% | 30.68% |
| 2020 | 6.7% | -9.6% | 325.6% | 26.70% |
| 2019 | 14.7% | -3.8% | 19.4% | 30.52% |
NAV & Total Return History
WAYAX - Holdings
Concentration Analysis
| WAYAX | Category Low | Category High | WAYAX % Rank | |
|---|---|---|---|---|
| Net Assets | 234 M | 3.13 M | 23.6 B | 70.00% |
| Number of Holdings | 389 | 2 | 3879 | 42.14% |
| Net Assets in Top 10 | 20.3 M | -492 M | 5.25 B | 81.52% |
| Weighting of Top 10 | 9.07% | 4.2% | 146.0% | 83.95% |
Top 10 Holdings
- Ford Motor Co 1.51%
- CCO Holdings LLC / CCO Holdings Capital Corp 1.18%
- PM General Purchaser LLC 0.96%
- Venture Global LNG Inc 0.82%
- First Quantum Minerals Ltd 0.82%
- American Airlines Inc/AAdvantage Loyalty IP Ltd 0.80%
- Berry Petroleum Co LLC 0.79%
- NCL Finance Ltd 0.75%
- Southwestern Energy Co 0.73%
- Carnival Holdings Bermuda Ltd 0.71%
Asset Allocation
| Weighting | Return Low | Return High | WAYAX % Rank | |
|---|---|---|---|---|
| Bonds | 97.19% | 0.00% | 145.36% | 26.13% |
| Convertible Bonds | 2.84% | 0.00% | 17.89% | 11.02% |
| Cash | 1.74% | -52.00% | 78.84% | 83.14% |
| Other | 0.41% | -39.08% | 99.96% | 20.42% |
| Preferred Stocks | 0.38% | 0.00% | 4.97% | 18.80% |
| Stocks | 0.29% | 0.00% | 99.64% | 50.16% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | WAYAX % Rank | |
|---|---|---|---|---|
| Energy | 83.70% | 0.00% | 100.00% | 19.59% |
| Financial Services | 13.25% | 0.00% | 100.00% | 14.62% |
| Consumer Cyclical | 3.05% | 0.00% | 100.00% | 26.02% |
| Utilities | 0.00% | 0.00% | 100.00% | 58.19% |
| Technology | 0.00% | 0.00% | 33.17% | 60.82% |
| Real Estate | 0.00% | 0.00% | 86.71% | 54.97% |
| Industrials | 0.00% | 0.00% | 93.12% | 61.99% |
| Healthcare | 0.00% | 0.00% | 22.17% | 52.63% |
| Communication Services | 0.00% | 0.00% | 99.99% | 76.02% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 55.56% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 57.89% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | WAYAX % Rank | |
|---|---|---|---|---|
| US | 0.25% | 0.00% | 99.64% | 50.41% |
| Non US | 0.03% | -0.01% | 0.83% | 8.59% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | WAYAX % Rank | |
|---|---|---|---|---|
| Corporate | 92.90% | 0.00% | 100.00% | 69.97% |
| Securitized | 5.96% | 0.00% | 97.24% | 7.31% |
| Government | 0.47% | 0.00% | 99.07% | 18.51% |
| Cash & Equivalents | 0.44% | 0.00% | 78.84% | 82.17% |
| Derivative | 0.41% | -14.19% | 42.26% | 7.29% |
| Municipal | 0.00% | 0.00% | 1.17% | 47.40% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | WAYAX % Rank | |
|---|---|---|---|---|
| US | 96.43% | 0.00% | 126.57% | 26.74% |
| Non US | 0.75% | 0.00% | 96.91% | 34.20% |
WAYAX - Expenses
Operational Fees
| WAYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.99% | 0.02% | 38.33% | 48.71% |
| Management Fee | 0.55% | 0.00% | 1.75% | 46.69% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 34.97% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| WAYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.25% | 2.25% | 5.75% | 39.58% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| WAYAX 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.
| WAYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 101.00% | 1.00% | 255.00% | 88.14% |
WAYAX - Distributions
Dividend Yield Analysis
| WAYAX | Category Low | Category High | WAYAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.01% | 0.00% | 11.76% | 10.47% |
Dividend Distribution Analysis
| WAYAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| WAYAX | Category Low | Category High | WAYAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.80% | -2.39% | 9.30% | 28.05% |
Capital Gain Distribution Analysis
| WAYAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Aug 30, 2024 | $0.047 | OrdinaryDividend |
| Jul 31, 2024 | $0.043 | OrdinaryDividend |
| Apr 30, 2024 | $0.041 | OrdinaryDividend |
| Mar 28, 2024 | $0.045 | OrdinaryDividend |
| Feb 29, 2024 | $0.040 | OrdinaryDividend |
| Jan 31, 2024 | $0.041 | OrdinaryDividend |
| Dec 29, 2023 | $0.044 | OrdinaryDividend |
| Nov 30, 2023 | $0.043 | OrdinaryDividend |
| Oct 31, 2023 | $0.039 | OrdinaryDividend |
| Sep 29, 2023 | $0.042 | OrdinaryDividend |
| Aug 31, 2023 | $0.043 | OrdinaryDividend |
| Jul 31, 2023 | $0.039 | OrdinaryDividend |
| Jun 30, 2023 | $0.043 | OrdinaryDividend |
| May 31, 2023 | $0.042 | OrdinaryDividend |
| Apr 28, 2023 | $0.036 | OrdinaryDividend |
| Mar 31, 2023 | $0.046 | OrdinaryDividend |
| Feb 28, 2023 | $0.038 | OrdinaryDividend |
| Jan 31, 2023 | $0.039 | OrdinaryDividend |
| Dec 30, 2022 | $0.042 | OrdinaryDividend |
| Nov 30, 2022 | $0.040 | OrdinaryDividend |
| Oct 31, 2022 | $0.039 | OrdinaryDividend |
| Sep 30, 2022 | $0.043 | OrdinaryDividend |
| Aug 31, 2022 | $0.040 | OrdinaryDividend |
| Jul 29, 2022 | $0.039 | OrdinaryDividend |
| Jun 30, 2022 | $0.034 | OrdinaryDividend |
| May 31, 2022 | $0.034 | OrdinaryDividend |
| Apr 29, 2022 | $0.034 | OrdinaryDividend |
| Mar 31, 2022 | $0.035 | OrdinaryDividend |
| Feb 28, 2022 | $0.030 | OrdinaryDividend |
| Jan 31, 2022 | $0.031 | OrdinaryDividend |
| Dec 31, 2021 | $0.034 | OrdinaryDividend |
| Nov 30, 2021 | $0.031 | OrdinaryDividend |
| Oct 29, 2021 | $0.032 | OrdinaryDividend |
| Sep 30, 2021 | $0.031 | OrdinaryDividend |
| Aug 31, 2021 | $0.032 | OrdinaryDividend |
| Jul 30, 2021 | $0.035 | OrdinaryDividend |
| Jun 30, 2021 | $0.031 | OrdinaryDividend |
| May 28, 2021 | $0.000 | ReturnOfCapital |
| May 28, 2021 | $0.029 | OrdinaryDividend |
| Apr 30, 2021 | $0.000 | ReturnOfCapital |
| Apr 30, 2021 | $0.030 | OrdinaryDividend |
| Mar 31, 2021 | $0.000 | ReturnOfCapital |
| Mar 31, 2021 | $0.033 | OrdinaryDividend |
| Feb 26, 2021 | $0.000 | ReturnOfCapital |
| Feb 26, 2021 | $0.029 | OrdinaryDividend |
| Jan 29, 2021 | $0.000 | ReturnOfCapital |
| Jan 29, 2021 | $0.028 | OrdinaryDividend |
| Dec 31, 2020 | $0.037 | OrdinaryDividend |
| Nov 30, 2020 | $0.032 | OrdinaryDividend |
| Oct 30, 2020 | $0.034 | OrdinaryDividend |
| Sep 30, 2020 | $0.033 | OrdinaryDividend |
| Aug 31, 2020 | $0.030 | OrdinaryDividend |
| Jul 31, 2020 | $0.034 | OrdinaryDividend |
| Jun 30, 2020 | $0.032 | OrdinaryDividend |
| May 29, 2020 | $0.003 | ReturnOfCapital |
| May 29, 2020 | $0.031 | OrdinaryDividend |
| Apr 30, 2020 | $0.003 | ReturnOfCapital |
| Apr 30, 2020 | $0.031 | OrdinaryDividend |
| Mar 31, 2020 | $0.003 | ReturnOfCapital |
| Mar 31, 2020 | $0.032 | OrdinaryDividend |
| Feb 28, 2020 | $0.003 | ReturnOfCapital |
| Feb 28, 2020 | $0.029 | OrdinaryDividend |
| Jan 31, 2020 | $0.003 | ReturnOfCapital |
| Jan 31, 2020 | $0.032 | OrdinaryDividend |
| Dec 31, 2019 | $0.036 | OrdinaryDividend |
| Nov 29, 2019 | $0.035 | OrdinaryDividend |
| Oct 31, 2019 | $0.036 | OrdinaryDividend |
| Sep 30, 2019 | $0.032 | OrdinaryDividend |
| Aug 30, 2019 | $0.036 | OrdinaryDividend |
| Jul 31, 2019 | $0.035 | OrdinaryDividend |
| Oct 28, 2012 | $0.050 | DailyAccrualFund |
| Sep 26, 2012 | $0.160 | DailyAccrualFund |
WAYAX - Fund Manager Analysis
Managers
Michael Buchanan
Start Date
Tenure
Tenure Rank
Aug 01, 2005
16.84
16.8%
– 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
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 | 7.29 | 8.17 |