Performance
Trailing returns
| 1 day | +0.01% |
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| 1 week | +0.08% |
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| 4 week | +0.66% |
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| 3 month | +0.89% |
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| YTD | +2.12% |
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| 1 year | +7.51% |
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| 3 years* | +8.30% |
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| 5 years* | +6.44% |
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| *annualized | |||||
| Best 3 month return | +11.08% | |
| Worst 3 month return | -14.78% |
Morningstar statistics
Morningstar category: High Yield Muni
| Return | Risk | Rating | |
| 3 years | Below Average | Average |
 
|
| 5 years | Average | Below Average |
|
| 10 years | Above Average | Below Average |
|
| Overall | Average | Below Average |
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Key statistics
| Total assets | 1.09B | |
| Front load | 4.25% | |
| Deferred load | - | |
| Expense ratio | 0.78% | |
| Management fee | - | |
| Fund family | Legg Mason |
Asset allocation
| Cash | 0.17% | |
| Stocks | 0.00% | |
| Bonds | 103.73% | |
| Other | -3.90% |
Purchase information
| Initial | US$1,000 | |
| Additional | US$50 | |
| IRA Initial | US$250 | |
| AIP Initial | US$50 | |
| AIP Additional | US$50 |
15.25+0.01(0.07%)
May 17, 4:00PM EDT
Overall Morningstar RatingTM
Description
The investment seeks to maximize current income exempt from regular federal income tax. The fund will normally invest primarily in municipal securities rated at the time of purchase in the lowest investment grade category (that is, securities rated in the Baa/BBB categories) or rated below investment grade (that is, securities rated below the Baa/BBB categories) or, if unrated, determined by the subadviser to be of comparable credit quality. It may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio and for other purposes.
Fund filings (PDF) »
Fund filings (PDF) »
Asset managers:
Dennis McNamara (Started: Sep 1, 2012)
Stephen Walsh (Started: May 17, 2007)
David Fare (Started: Jan 3, 2006)
Robert Amodeo (Started: May 17, 2007)
Dennis McNamara (Started: Sep 1, 2012)
Stephen Walsh (Started: May 17, 2007)
David Fare (Started: Jan 3, 2006)
Robert Amodeo (Started: May 17, 2007)
Risk
| 1 year | 3 years | 5 years | 10 years | ||
| Alpha* | 3.15 | 1.83 | -0.55 | 1.34 | |
| Beta* | 0.90 | 1.01 | 1.21 | 0.87 | |
| Mean annual return | 0.65 | 0.67 | 0.56 | 0.50 | |
| R-squared* | 82.28 | 71.51 | 52.01 | 42.77 | |
| Standard deviation | 2.82 | 4.50 | 7.98 | 6.10 | |
| Sharpe ratio | 2.72 | 1.75 | 0.80 | 0.69 | |
| * Against standard index | |||||
Top 10 holdings
| Security | Net Assets | |
| Brooklyn Arena Loc Dev Corp N Rev 6.25% | 3.72% | |
| Texas Private Activity Bd Surf Sr Lie 7% | 3.46% | |
| Texas Private Activity Bd Surf Sr 6.875% | 3.23% | |
| Delaware St Econ Dev Auth 5.375% | 3.05% | |
| M-S-R Engy Auth 7% | 2.86% | |
| Maryland St Econ Dev Corp Rev Bds 5.75% | 2.39% | |
| Public Auth 6.5% | 2.38% | |
| Miami-Dade Cnty Fla Health Fac Var Rate | 1.80% | |
| Kentucky Econ Dev Fin Auth 6.375% | 1.73% | |
| New Jersey Econ Dev Auth | 1.70% |