- ISIN
- US5246864749
- Issuer
- Legg Mason
- Inception Date
- Dec 30, 1985
- Category
- Small Cap Blend Equities
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
LMASX Performance Chart
ClearBridge Small Cap Fund (LMASX) is up 12.7% since the beginning of the year. LMASX is currently trading at $37 per share. Investors who bought $1,000 worth of LMASX shares 5 years ago would now be looking at an investment worth $1,163.
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Returns By Period
ClearBridge Small Cap Fund (LMASX) has returned 12.65% so far this year and 27.76% over the past 12 months. Over the last ten years, LMASX has returned 7.85% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ClearBridge Small Cap Fund
- 1D
- 1.03%
- 1M
- 3.64%
- YTD
- 12.65%
- 6M
- 9.09%
- 1Y
- 27.76%
- 3Y*
- 9.92%
- 5Y*
- 3.07%
- 10Y*
- 7.85%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
LMASX Monthly Returns History
Based on dividend-adjusted daily data since Dec 30, 1985, LMASX's average daily return is +0.05%, while the average monthly return is +0.97%. At this rate, an investment would double in approximately 6.0 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2009 with a return of +19.8%, while the worst month was Oct 1987 at -28.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, LMASX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +14.7%, while the worst single day was Oct 22, 1987 at -17.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.65% | 2.48% | -5.12% | 9.80% | -0.14% | 1.94% | 12.65% | ||||||
| 2025 | 4.46% | -5.44% | -5.21% | -5.34% | 2.84% | 3.70% | 3.38% | 7.66% | -0.68% | -2.68% | 4.16% | -0.50% | 5.38% |
| 2024 | -3.72% | 3.24% | 3.54% | -6.28% | 3.32% | -2.08% | 9.90% | -1.63% | 0.43% | -0.40% | 10.02% | -8.18% | 6.61% |
| 2023 | 10.74% | -2.09% | -5.40% | -1.08% | 2.02% | 8.30% | 3.83% | -3.44% | -5.71% | -6.94% | 6.44% | 10.58% | 16.09% |
| 2022 | -5.85% | 0.71% | 1.16% | -7.33% | 0.61% | -11.30% | 10.61% | -4.24% | -11.94% | 11.82% | 1.92% | -6.54% | -21.19% |
| 2021 | 1.93% | 7.71% | 2.55% | 4.16% | 1.41% | 1.05% | -4.23% | 1.08% | -2.06% | 4.17% | -4.56% | 3.88% | 17.67% |
Benchmark Metrics
ClearBridge Small Cap Fund has an annualized alpha of 1.49%, beta of 0.98, and R2 of 0.66 versus S&P 500 Index. Calculated based on daily prices since December 30, 1985.
- This fund captured 117.64% of S&P 500 Index gains and 114.28% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 0.98 and R2 of 0.66, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.49%
- Beta
- 0.98
- R²
- 0.66
- Upside Capture
- 117.64%
- Downside Capture
- 114.28%
Expense Ratio
LMASX has a high expense ratio of 1.85%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LMASX ranks 41 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ClearBridge Small Cap Fund (LMASX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LMASX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 2.78 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.77 | 12.44 | -3.67 |
Dividends
Dividend History
ClearBridge Small Cap Fund provided a 10.53% dividend yield over the last twelve months, with an annual payout of $3.93 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.93 | $3.93 | $2.44 | $0.63 | $0.00 | $7.07 | $0.02 | $1.59 | $4.27 | $2.61 | $1.24 | $1.72 |
Dividend yield | 10.53% | 11.86% | 6.98% | 1.81% | 0.00% | 18.14% | 0.05% | 4.15% | 13.81% | 6.78% | 3.35% | 5.67% |
Monthly Dividends
The table displays the monthly dividend distributions for ClearBridge Small Cap 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.93 | $3.93 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.44 | $2.44 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $0.63 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $7.07 | $7.07 |
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 ClearBridge Small Cap 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 ClearBridge Small Cap Fund was 69.22%, occurring on Nov 20, 2008. Recovery took 1120 trading sessions.
The current ClearBridge Small Cap Fund drawdown is 0.35%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -69.22%Nov 2008 | 1y 4mo | 4y 5mo | 5y 9moJul 2007 - May 2013 |
COVID crash2020 | -47.13%Mar 2020 | 2mo 1d | 9mo 2d | 11mo 3dJan 2020 - Dec 2020 |
1998 bear market1998 | -40.20%Oct 1998 | 2mo 19d | 2mo 21d | 5mo 10dJul 1998 - Dec 1998 |
Black Monday1987 | -37.85%Dec 1987 | 4mo 28d | 1y 5mo | 1y 9moJul 1987 - May 1989 |
Dot-com crash2000–2002 | -36.28%Sep 2001 | 1y 6mo | 1y 8mo | 3y 3moMar 2000 - Jun 2003 |
Drawdown Indicators
| LMASX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.22% | -56.78% | -12.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -9.10% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -26.38% | -18.90% | -7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -25.43% | -4.64% |
Max Drawdown (10Y)Largest decline over 10 years | -47.13% | -33.92% | -13.21% |
Current DrawdownCurrent decline from peak | -0.35% | -1.80% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -10.44% | -10.71% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 2.03% | +1.13% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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