- ISIN
- US52470G7346
- Issuer
- Legg Mason
- Inception Date
- Dec 27, 2006
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
LMECX Performance Chart
Western Asset SMASh Series Core Plus Completion Fund (LMECX) is up 0.6% since the beginning of the year. LMECX is currently trading at $6 per share. Investors who bought $1,000 worth of LMECX shares 5 years ago would now be looking at an investment worth $818.
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Returns By Period
Western Asset SMASh Series Core Plus Completion Fund (LMECX) has returned 0.58% so far this year and 5.83% over the past 12 months. Over the last ten years, LMECX has returned 0.74% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Western Asset SMASh Series Core Plus Completion Fund
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 0.58%
- 6M
- 1.09%
- 1Y
- 5.83%
- 3Y*
- 2.92%
- 5Y*
- -3.94%
- 10Y*
- 0.74%
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%
LMECX Monthly Returns History
Based on dividend-adjusted daily data since May 23, 2012, LMECX'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, 61% of months were positive and 39% were negative. The best month was Nov 2022 with a return of +7.9%, while the worst month was Mar 2020 at -15.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, LMECX closed higher 46% of trading days. The best single day was Mar 26, 2020 with a return of +3.9%, while the worst single day was Jun 14, 2022 at -6.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.90% | 1.03% | -3.10% | 1.86% | 0.31% | -0.34% | 0.58% | ||||||
| 2025 | 2.45% | 0.68% | -0.58% | 0.40% | 0.85% | 1.79% | -0.36% | 1.56% | 0.55% | 0.50% | 1.03% | 0.64% | 9.89% |
| 2024 | -1.62% | -0.41% | 1.38% | -3.45% | 1.52% | -1.45% | 1.44% | 0.19% | 0.98% | -2.34% | 1.50% | -1.29% | -3.64% |
| 2023 | 6.02% | -3.21% | -0.10% | 0.99% | -1.00% | 2.79% | 1.20% | -2.88% | -5.42% | -3.95% | 7.31% | 6.34% | 7.36% |
| 2022 | -3.13% | -6.16% | -4.83% | -8.99% | -0.13% | -6.05% | 4.91% | -3.99% | -9.30% | -1.85% | 7.88% | -0.79% | -29.11% |
| 2021 | -2.01% | -1.73% | -1.81% | 2.96% | 2.21% | 0.37% | 0.47% | 0.83% | -1.32% | 0.31% | -1.84% | 2.09% | 0.34% |
Benchmark Metrics
Western Asset SMASh Series Core Plus Completion Fund has an annualized alpha of 0.53%, beta of 0.18, and R2 of 0.16 versus S&P 500 Index. Calculated based on daily prices since May 23, 2012.
- This fund participated in 52.69% of S&P 500 Index downside but only 30.80% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.18 may look defensive, but with R2 of 0.16 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 0.16 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.
- Alpha
- 0.53%
- Beta
- 0.18
- R²
- 0.16
- Upside Capture
- 30.80%
- Downside Capture
- 52.69%
Expense Ratio
LMECX has an expense ratio of 0.00%, meaning no management fees are charged.
Return for Risk
Risk / Return Rank
LMECX ranks 21 for risk / return — below 21% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Western Asset SMASh Series Core Plus Completion Fund (LMECX) 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.
| LMECX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.78 | -1.45 |
| Martin ratioReturn relative to average drawdown | 5.28 | 12.44 | -7.16 |
Dividends
Dividend History
Western Asset SMASh Series Core Plus Completion Fund provided a 4.50% dividend yield over the last twelve months, with an annual payout of $0.27 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.29 | $0.36 | $0.39 | $0.06 | $0.57 | $0.14 | $0.76 | $0.40 | $0.67 | $0.52 | $0.56 |
Dividend yield | 4.50% | 4.90% | 6.36% | 6.13% | 0.94% | 6.37% | 1.45% | 8.12% | 4.65% | 7.29% | 5.70% | 6.43% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset SMASh Series Core Plus Completion 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 | $0.03 | $0.03 | $0.01 | $0.02 | $0.01 | $0.10 | ||||||
| 2025 | $0.00 | $0.03 | $0.01 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2024 | $0.02 | $0.03 | $0.03 | $0.04 | $0.00 | $0.03 | $0.04 | $0.03 | $0.04 | $0.00 | $0.04 | $0.07 | $0.36 |
| 2023 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.05 | $0.00 | $0.02 | $0.06 | $0.39 |
| 2022 | $0.01 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.06 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.03 | $0.03 | $0.10 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.22 | $0.57 |
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 SMASh Series Core Plus Completion 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 SMASh Series Core Plus Completion Fund was 36.92%, occurring on Oct 24, 2022. The portfolio has not yet recovered.
The current Western Asset SMASh Series Core Plus Completion Fund drawdown is 20.36%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -36.92%Oct 2022 | 1y 1mo | — | 4y 9moSep 2021 - now |
COVID crash2020 | -22.21%Mar 2020 | 1mo 2d | 9mo 13d | 10mo 15dFeb 2020 - Dec 2020 |
Rate-hike selloffLate 2018 | -9.56%Nov 2018 | 1y 2mo | 3mo 24d | 1y 6moSep 2017 - Mar 2019 |
2013 pullback2013 | -7.70%Jun 2013 | 1mo 15d | 8mo 8d | 9mo 23dMay 2013 - Feb 2014 |
2021 pullback2021 | -5.77%Mar 2021 | 2mo 24d | 2mo 7d | 5mo 1dJan 2021 - Jun 2021 |
Drawdown Indicators
| LMECX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.92% | -56.78% | +19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -9.10% | +4.84% |
Max Drawdown (3Y)Largest decline over 3 years | -13.31% | -18.90% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -36.92% | -25.43% | -11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -36.92% | -33.92% | -3.00% |
Current DrawdownCurrent decline from peak | -20.36% | -1.80% | -18.56% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -10.71% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 2.03% | -0.96% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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