Western Asset Pennsylvania Municipals Fund (SBPAX)
The investment seeks as high a level of income exempt from regular federal income tax and Pennsylvania personal income taxes as is consistent with prudent investing. Under normal circumstances, the fund invests at least 80% of its assets in "Pennsylvania municipal securities." Pennsylvania municipal securities are securities and other investments with similar economic characteristics the interest on which is exempt from regular federal income tax and Pennsylvania state personal income taxes but which may be subject to the federal alternative minimum tax. It is non-diversified.
Fund Info
US52469L7441
52469L744
Apr 3, 1994
$1,000
Expense Ratio
SBPAX has an expense ratio of 0.80%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Western Asset Pennsylvania Municipals Fund (SBPAX) returned -1.66% year-to-date (YTD) and 2.00% over the past 12 months. Over the past 10 years, SBPAX returned 1.58% annually, underperforming the S&P 500 benchmark at 10.85%.
SBPAX
-1.66%
-0.61%
-3.00%
2.00%
1.04%
0.11%
1.58%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of SBPAX, 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 | 0.24% | 0.99% | -1.46% | -0.80% | -0.61% | -1.66% | |||||||
| 2024 | 0.16% | -0.03% | 0.23% | -1.22% | 0.06% | 1.79% | 0.92% | 0.74% | 1.07% | -1.29% | 1.51% | -1.36% | 2.55% |
| 2023 | 2.74% | -2.34% | 1.80% | -0.03% | -0.80% | 0.42% | 0.23% | -1.41% | -2.68% | -1.84% | 6.36% | 2.53% | 4.71% |
| 2022 | -2.64% | -0.70% | -3.12% | -3.07% | 0.96% | -1.98% | 2.34% | -2.14% | -3.75% | -1.29% | 4.76% | -0.02% | -10.45% |
| 2021 | 0.73% | -1.48% | 0.74% | 1.04% | 0.49% | 0.33% | 0.86% | -0.35% | -0.96% | -0.21% | 0.86% | 0.10% | 2.14% |
| 2020 | 1.84% | 1.33% | -3.91% | -2.13% | 2.87% | 0.83% | 1.51% | -0.27% | 0.04% | -0.18% | 1.44% | 0.66% | 3.90% |
| 2019 | 0.60% | 0.49% | 1.47% | 0.42% | 1.21% | 0.41% | 0.71% | 1.70% | -0.70% | -0.08% | 0.14% | 0.14% | 6.69% |
| 2018 | -0.88% | -0.29% | 0.45% | -0.35% | 1.01% | 0.12% | 0.12% | 0.28% | -0.59% | -0.58% | 0.76% | 1.09% | 1.11% |
| 2017 | 0.47% | 0.52% | 0.15% | 0.53% | 1.16% | -0.10% | 0.61% | 0.61% | -0.33% | 0.22% | -0.26% | 0.85% | 4.50% |
| 2016 | 1.16% | 0.05% | 0.99% | 0.44% | 0.45% | 1.35% | -0.08% | 0.22% | -0.47% | -0.62% | -2.85% | 0.62% | 1.21% |
| 2015 | 1.91% | -0.77% | 0.31% | -0.46% | 0.01% | -0.24% | 0.60% | 0.22% | 0.45% | 0.15% | 0.07% | 0.62% | 2.88% |
| 2014 | 1.80% | 1.11% | 0.65% | 0.95% | 1.73% | 0.16% | 0.00% | 1.16% | 0.38% | 0.61% | 0.07% | 0.69% | 9.70% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SBPAX is 25, meaning it’s performing worse than 75% 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 Pennsylvania Municipals Fund (SBPAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Western Asset Pennsylvania Municipals Fund provided a 2.84% dividend yield over the last twelve months, with an annual payout of $0.32 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.32 | $0.32 | $0.29 | $0.29 | $0.32 | $0.38 | $0.43 | $0.45 | $0.46 | $0.47 | $0.49 |
Dividend yield | 2.84% | 2.77% | 2.72% | 2.50% | 2.20% | 2.41% | 2.92% | 3.39% | 3.53% | 3.64% | 3.61% | 3.71% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset Pennsylvania Municipals 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.11 | |||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2023 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.29 |
| 2021 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2019 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2018 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.43 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
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 Pennsylvania 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 Pennsylvania Municipals Fund was 15.64%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Western Asset Pennsylvania Municipals Fund drawdown is 6.05%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.64% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -10.76% | Mar 10, 2020 | 9 | Mar 20, 2020 | 179 | Dec 3, 2020 | 188 |
| -9.75% | Sep 12, 2008 | 25 | Oct 16, 2008 | 125 | Apr 17, 2009 | 150 |
| -9.48% | Dec 5, 2012 | 191 | Sep 9, 2013 | 243 | Aug 26, 2014 | 434 |
| -9.14% | Apr 13, 1999 | 206 | Jan 26, 2000 | 145 | Aug 23, 2000 | 351 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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