Western Asset SMASh Series M Fund (LMSMX)
The fund primarily invests in a combination of U.S. dollar denominated and non-U.S. dollar denominated investment grade debt obligations of U.S. and non-U.S. issuers and in derivatives and other instruments relating to such investments. The advisor intends to invest in asset-backed and inflation-protected securities and to engage in dollar rolls on mortgage-related securities.
Fund Info
US52470G7593
Dec 27, 2006
$0
Expense Ratio
LMSMX has an expense ratio of 0.00%, indicating no management fees are charged.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Western Asset SMASh Series M Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Western Asset SMASh Series M Fund had a return of 0.69% year-to-date (YTD) and 2.26% in the last 12 months. Over the past 10 years, Western Asset SMASh Series M Fund had an annualized return of -0.07%, while the S&P 500 had an annualized return of 11.26%, indicating that Western Asset SMASh Series M Fund did not perform as well as the benchmark.
LMSMX
0.69%
0.68%
-5.25%
2.26%
-4.06%
-0.07%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of LMSMX, 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 | 0.96% | 0.69% | |||||||||||
| 2024 | 0.06% | -3.41% | 1.19% | -4.80% | 2.45% | 2.00% | 3.88% | 2.58% | 1.71% | -5.86% | 1.48% | -2.43% | -1.72% |
| 2023 | 4.30% | -4.65% | 4.54% | 0.95% | -2.08% | -2.89% | 0.10% | -0.50% | -3.41% | -2.03% | 5.84% | 5.60% | 5.14% |
| 2022 | -3.04% | -1.73% | -6.45% | -4.58% | 0.90% | -2.19% | 3.75% | -5.55% | -7.87% | -2.60% | 4.66% | -0.70% | -23.29% |
| 2021 | -0.64% | -3.06% | -1.31% | 1.30% | 0.26% | 0.16% | 2.19% | -0.27% | -1.47% | -0.77% | 0.75% | -0.75% | -3.66% |
| 2020 | 2.14% | 0.87% | 0.08% | 2.03% | 1.71% | -3.23% | 2.05% | 0.89% | 0.58% | -0.70% | 1.08% | 0.26% | 7.91% |
| 2019 | 1.56% | 0.11% | 2.05% | 0.15% | 0.69% | -0.11% | -0.09% | 1.29% | 0.23% | 0.53% | -0.32% | -2.70% | 3.35% |
| 2018 | -1.64% | -1.11% | 1.71% | -1.08% | 1.01% | 0.18% | -0.20% | 0.96% | -1.19% | -0.82% | 1.07% | 1.94% | 0.74% |
| 2017 | 0.77% | 0.96% | 0.39% | 0.94% | 1.12% | -0.10% | 0.42% | 1.67% | -0.89% | 0.10% | 0.01% | 0.69% | 6.23% |
| 2016 | 0.56% | -0.34% | 1.09% | 0.56% | -0.33% | 1.13% | 0.67% | 0.39% | 0.65% | 0.20% | -0.61% | 0.41% | 4.46% |
| 2015 | 0.28% | 0.52% | 0.90% | -0.37% | -0.38% | -1.10% | 1.41% | 0.63% | 0.39% | 0.45% | 0.34% | 0.57% | 3.66% |
| 2014 | 2.61% | 0.85% | -0.10% | 1.06% | 1.23% | 0.46% | 0.02% | 0.94% | 0.20% | 0.81% | 0.59% | 0.40% | 9.43% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of LMSMX is 9, meaning it’s performing worse than 91% of other 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 SMASh Series M Fund (LMSMX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Western Asset SMASh Series M Fund provided a 4.76% dividend yield over the last twelve months, with an annual payout of $0.35 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 | $0.35 | $0.39 | $0.37 | $0.29 | $0.26 | $0.27 | $0.32 | $0.27 | $0.36 | $0.55 | $0.45 | $0.41 |
Dividend yield | 4.76% | 5.24% | 4.69% | 3.66% | 2.41% | 2.42% | 3.00% | 2.48% | 3.34% | 5.17% | 4.19% | 3.85% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset SMASh Series M 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 | $0.01 | $0.00 | $0.01 | ||||||||||
| 2024 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.07 | $0.39 |
| 2023 | $0.01 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.37 |
| 2022 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.07 | $0.29 |
| 2021 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.07 | $0.26 |
| 2020 | $0.01 | $0.03 | $0.03 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.03 | $0.02 | $0.02 | $0.06 | $0.27 |
| 2019 | $0.01 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.06 | $0.32 |
| 2018 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 | $0.27 |
| 2017 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.10 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 | $0.36 |
| 2016 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.32 | $0.55 |
| 2015 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 | $0.45 |
| 2014 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.20 | $0.41 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Western Asset SMASh Series M 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 M Fund was 31.57%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current Western Asset SMASh Series M Fund drawdown is 23.24%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -31.57% | Jan 5, 2021 | 704 | Oct 19, 2023 | — | — | — |
| -6.3% | Oct 7, 2019 | 114 | Mar 19, 2020 | 14 | Apr 8, 2020 | 128 |
| -4.62% | Jun 12, 2020 | 4 | Jun 17, 2020 | 72 | Sep 29, 2020 | 76 |
| -3.91% | Feb 28, 2007 | 74 | Jun 13, 2007 | 127 | Dec 13, 2007 | 201 |
| -3.81% | Sep 8, 2017 | 174 | May 17, 2018 | 154 | Dec 27, 2018 | 328 |
Volatility
Volatility Chart
The current Western Asset SMASh Series M Fund volatility is 2.42%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.