Western Asset Intermediate Maturity CA Municipals Fund (ITCAX)

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Western Asset Intermediate Maturity CA Municipals Fund (ITCAX) is up 0.4% since the beginning of the year. ITCAX is currently trading at $8 per share. Investors who bought $1,000 worth of ITCAX shares 5 years ago would now be looking at an investment worth $1,008.

Western Asset Intermediate Maturity CA Municipals Fund (ITCAX) has returned 0.38% so far this year and 4.68% over the past 12 months. Over the last ten years, ITCAX has returned 1.18% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Dec 31, 1991, ITCAX's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.

Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +4.0%, while the worst month was Mar 2020 at -6.5%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.

On a daily basis, ITCAX closed higher 32% of trading days. The best single day was Mar 25, 2020 with a return of +3.4%, while the worst single day was Mar 12, 2020 at -3.2%.

Western Asset Intermediate Maturity CA Municipals Fund has an annualized alpha of 3.00%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 31, 1991.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (11.38%) than losses (1.99%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ITCAX has an expense ratio of 0.75%, placing it in the medium range.

ITCAX ranks 82 for risk / return — above 82% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.

Western Asset Intermediate Maturity CA Municipals Fund provided a 2.46% dividend yield over the last twelve months, with an annual payout of $0.20 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Western Asset Intermediate Maturity CA Municipals Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Western Asset Intermediate Maturity CA Municipals 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 Intermediate Maturity CA Municipals Fund was 13.38%, occurring on Oct 25, 2022. Recovery took 757 trading sessions.

The current Western Asset Intermediate Maturity CA Municipals Fund drawdown is 1.34%.

The chart below shows the rolling one-month volatility.