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 features an expense ratio of 0.80%, falling within the medium range.
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 Pennsylvania Municipals 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 Pennsylvania Municipals Fund had a return of 0.33% year-to-date (YTD) and 3.07% in the last 12 months. Over the past 10 years, Western Asset Pennsylvania Municipals Fund had an annualized return of 1.77%, while the S&P 500 had an annualized return of 11.31%, indicating that Western Asset Pennsylvania Municipals Fund did not perform as well as the benchmark.
SBPAX
0.33%
0.76%
0.28%
3.07%
0.03%
1.77%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
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% | 0.33% | |||||||||||
| 2024 | 0.16% | -0.03% | 0.23% | -1.23% | 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% | 2.52% | 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 | 0.46% | 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% | -0.46% | -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% | 0.16% | 0.07% | 0.62% | 2.88% |
| 2014 | 1.80% | 1.10% | 0.66% | 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 43, indicating average performance compared to other mutual funds on our website. Here’s 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.
Dividends
Dividend History
Western Asset Pennsylvania Municipals Fund provided a 2.76% 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 | 2.76% | 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 | $0.00 | $0.03 | ||||||||||
| 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.
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 4.15%.
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 |
| -10% | Oct 7, 1998 | 340 | Jan 26, 2000 | 213 | Nov 29, 2000 | 553 |
| -9.75% | Sep 12, 2008 | 25 | Oct 16, 2008 | 125 | Apr 17, 2009 | 150 |
| -9.48% | Dec 5, 2012 | 189 | Sep 5, 2013 | 245 | Aug 26, 2014 | 434 |
Volatility
Volatility Chart
The current Western Asset Pennsylvania Municipals Fund volatility is 0.98%, 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.