Western Asset Ultra-Short Income Fund (ARMGX)
Under normal circumstances, the fund will invest its assets in debt obligations, other fixed income securities and related investments. It may invest in all types of U.S. dollar denominated short-term debt instruments, including bank obligations, commercial paper and asset-backed securities, mortgage-backed securities, U.S. government agency or instrumentality securities, corporate loans, corporate debt securities, structured instruments and repurchase agreements.
Fund Info
US52468A8062
Jun 22, 1992
$1,000
Expense Ratio
ARMGX has a high expense ratio of 1.32%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Western Asset Ultra-Short Income Fund (ARMGX) returned 1.29% year-to-date (YTD) and 4.49% over the past 12 months. Over the past 10 years, ARMGX returned 1.96% annually, underperforming the S&P 500 benchmark at 10.84%.
ARMGX
1.29%
0.35%
1.81%
4.49%
4.28%
2.58%
1.96%
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of ARMGX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.47% | 0.33% | 0.24% | 0.13% | 0.11% | 1.29% | |||||||
| 2024 | 0.57% | 0.33% | 0.47% | 0.35% | 0.49% | 0.23% | 0.70% | 0.38% | 0.45% | 0.35% | 0.47% | 0.26% | 5.18% |
| 2023 | 1.12% | 0.20% | -0.10% | 0.44% | 0.23% | 0.58% | 0.67% | 0.37% | 0.22% | 0.23% | 0.96% | 0.71% | 5.77% |
| 2022 | -0.39% | -0.61% | -0.49% | -0.46% | -0.09% | -1.03% | 0.69% | 0.01% | -0.43% | -0.08% | 0.78% | 0.44% | -1.65% |
| 2021 | 0.15% | -0.08% | -0.20% | 0.13% | 0.02% | -0.11% | -0.10% | 0.01% | -0.10% | -0.21% | -0.31% | 0.93% | 0.12% |
| 2020 | 0.12% | -0.11% | -4.95% | 2.28% | 1.28% | 0.87% | 0.52% | 0.37% | 0.02% | 0.04% | 0.36% | 0.17% | 0.80% |
| 2019 | 0.74% | 0.30% | 0.30% | 0.40% | 0.30% | 0.39% | 0.17% | 0.27% | 0.13% | 0.14% | 0.09% | 0.12% | 3.40% |
| 2018 | -0.01% | 0.12% | 0.23% | 0.00% | 0.14% | 0.04% | 0.27% | 0.18% | 0.05% | 0.05% | 0.02% | -0.16% | 0.92% |
| 2017 | 0.28% | 0.38% | 0.16% | 0.62% | 0.43% | 0.22% | 0.23% | 0.22% | 0.21% | 0.22% | -0.14% | 0.23% | 3.10% |
| 2016 | -0.07% | -0.17% | 0.41% | 0.41% | 0.30% | 0.18% | 0.52% | 0.07% | 0.18% | 0.17% | -0.16% | 0.17% | 2.02% |
| 2015 | 0.16% | 0.16% | 0.05% | 0.16% | 0.04% | -0.18% | -0.07% | -0.29% | -0.18% | 0.05% | -0.18% | -0.21% | -0.51% |
| 2014 | 0.34% | 0.11% | -0.10% | 0.12% | 0.12% | 0.01% | 0.01% | 0.12% | -0.10% | -0.09% | 0.03% | -0.37% | 0.21% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 99, ARMGX is among the top 1% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Western Asset Ultra-Short Income Fund (ARMGX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Western Asset Ultra-Short Income Fund provided a 2.92% dividend yield over the last twelve months, with an annual payout of $0.27 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.26 | $0.24 | $0.14 | $0.02 | $0.13 | $0.21 | $0.17 | $0.12 | $0.09 | $0.08 | $0.03 |
Dividend yield | 2.92% | 2.91% | 2.72% | 1.63% | 0.23% | 1.45% | 2.34% | 1.93% | 1.37% | 0.98% | 0.85% | 0.33% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset Ultra-Short Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.09 | |||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.14 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.13 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.05 | $0.01 | $0.21 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.03 | $0.02 | $0.17 |
| 2017 | $0.01 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.01 | $0.12 |
| 2016 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.03 | $0.01 | $0.09 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.08 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Western Asset Ultra-Short Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Western Asset Ultra-Short Income Fund was 19.79%, occurring on Dec 17, 2008. Recovery took 527 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.79% | Nov 5, 2007 | 282 | Dec 17, 2008 | 527 | Jan 21, 2011 | 809 |
| -9.09% | Feb 24, 2020 | 22 | Mar 24, 2020 | 113 | Sep 2, 2020 | 135 |
| -3.19% | Aug 21, 1992 | 614 | Dec 28, 1994 | 455 | Sep 25, 1996 | 1069 |
| -3.16% | Feb 12, 2021 | 347 | Jun 29, 2022 | 231 | May 31, 2023 | 578 |
| -2.21% | Feb 22, 2011 | 192 | Nov 22, 2011 | 111 | May 3, 2012 | 303 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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