Western Asset SMASh Series C Fund (LMLCX)

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Western Asset SMASh Series C Fund (LMLCX) is up 2.1% since the beginning of the year. LMLCX is currently trading at $9 per share. Investors who bought $1,000 worth of LMLCX shares 5 years ago would now be looking at an investment worth $1,245.

Western Asset SMASh Series C Fund (LMLCX) has returned 2.13% so far this year and 10.00% over the past 12 months. Over the last ten years, LMLCX has returned 4.66% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since May 23, 2012, LMLCX's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, an investment would double in approximately 13.8 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +8.0%, while the worst month was Mar 2020 at -12.5%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 5 months.

On a daily basis, LMLCX closed higher 44% of trading days. The best single day was Mar 25, 2020 with a return of +4.3%, while the worst single day was Mar 9, 2020 at -4.9%.

Western Asset SMASh Series C Fund has an annualized alpha of 2.72%, beta of 0.17, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since May 23, 2012.

• This fund participated in 39.60% of S&P 500 Index downside but only 32.22% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.17 may look defensive, but with R2 of 0.20 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 0.20 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.

LMLCX has an expense ratio of 0.00%, meaning no management fees are charged.

LMLCX ranks 37 for risk / return — below 37% 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.

Western Asset SMASh Series C Fund provided a 6.18% dividend yield over the last twelve months, with an annual payout of $0.56 per share.

The table displays the monthly dividend distributions for Western Asset SMASh Series C 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 SMASh Series C 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 C Fund was 23.45%, occurring on Mar 20, 2020. Recovery took 173 trading sessions.

The chart below shows the rolling one-month volatility.