Western Asset Short Duration Municipal Income Fund (SHDAX)
Under normal circumstances, the fund invests at least 80% of its assets in municipal securities and in participation or other interests in municipal securities issued by banks, insurance companies or other financial institutions. Municipal securities are securities and other investments with similar economic characteristics the interest on which is exempt from regular federal income tax.
Fund Info
US52469F1921
52469F192
Mar 16, 2003
$1,000
Expense Ratio
SHDAX has an expense ratio of 0.55%, 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 Short Duration Municipal Income Fund (SHDAX) returned 1.03% year-to-date (YTD) and 3.83% over the past 12 months. Over the past 10 years, SHDAX returned 1.24% annually, underperforming the S&P 500 benchmark at 10.85%.
SHDAX
1.03%
0.40%
0.83%
3.83%
2.31%
1.27%
1.24%
^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 SHDAX, 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 | 0.42% | 0.59% | -0.18% | -0.20% | 0.40% | 1.03% | |||||||
| 2024 | -0.23% | 0.17% | 0.18% | -0.43% | -0.01% | 0.57% | 0.79% | 1.01% | 0.38% | -0.59% | 0.60% | -0.20% | 2.25% |
| 2023 | 1.16% | -1.07% | 1.18% | -0.26% | -0.45% | 0.58% | 0.16% | -0.23% | -0.84% | -0.03% | 2.24% | 1.19% | 3.64% |
| 2022 | -1.29% | -0.52% | -1.30% | -0.92% | 0.70% | -0.11% | 0.90% | -1.10% | -1.31% | -0.29% | 1.59% | 0.37% | -3.30% |
| 2021 | 0.28% | -0.50% | 0.09% | 0.28% | 0.08% | 0.08% | 0.27% | -0.12% | -0.31% | -0.12% | 0.07% | 0.08% | 0.18% |
| 2020 | 0.72% | 0.51% | -2.56% | -0.27% | 1.52% | 0.90% | 0.89% | 0.10% | 0.10% | -0.09% | 0.48% | 0.30% | 2.57% |
| 2019 | 0.52% | 0.12% | 0.53% | 0.13% | 0.54% | 0.33% | 0.53% | 0.35% | -0.46% | 0.34% | 0.13% | 0.14% | 3.26% |
| 2018 | 0.10% | 0.09% | -0.08% | -0.09% | 0.31% | 0.12% | 0.31% | -0.07% | -0.08% | -0.07% | 0.14% | 0.33% | 1.02% |
| 2017 | 0.30% | 0.30% | 0.10% | 0.10% | 0.29% | -0.10% | 0.49% | 0.29% | -0.09% | -0.10% | -0.29% | 0.11% | 1.41% |
| 2016 | 0.47% | 0.08% | -0.10% | 0.10% | 0.10% | 0.27% | 0.27% | -0.12% | -0.12% | -0.10% | -0.90% | 0.10% | 0.05% |
| 2015 | 0.48% | -0.31% | 0.10% | -0.10% | -0.29% | 0.10% | 0.29% | -0.10% | 0.10% | 0.10% | -0.12% | 0.08% | 0.33% |
| 2014 | 0.51% | 0.31% | -0.08% | 0.12% | 0.31% | 0.12% | 0.10% | 0.10% | 0.10% | 0.10% | -0.10% | -0.10% | 1.48% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 91, SHDAX is among the top 9% of 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 Short Duration Municipal Income Fund (SHDAX) 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 Short Duration Municipal Income Fund provided a 2.36% dividend yield over the last twelve months, with an annual payout of $0.12 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 | $0.12 | $0.11 | $0.10 | $0.06 | $0.05 | $0.07 | $0.08 | $0.07 | $0.06 | $0.05 | $0.06 | $0.07 |
Dividend yield | 2.36% | 2.24% | 1.96% | 1.22% | 0.97% | 1.39% | 1.62% | 1.43% | 1.20% | 1.05% | 1.12% | 1.28% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset Short Duration Municipal Income 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 | $0.01 | $0.01 | $0.01 | $0.00 | $0.04 | |||||||
| 2024 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.10 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 |
| 2021 | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2018 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 |
| 2016 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.05 |
| 2015 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.06 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
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 Short Duration Municipal Income 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 Short Duration Municipal Income Fund was 6.18%, occurring on Mar 20, 2020. Recovery took 83 trading sessions.
The current Western Asset Short Duration Municipal Income Fund drawdown is 0.20%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -6.18% | Mar 10, 2020 | 9 | Mar 20, 2020 | 83 | Jul 20, 2020 | 92 |
| -5.65% | Aug 25, 2021 | 294 | Oct 24, 2022 | 411 | Jun 13, 2024 | 705 |
| -2.53% | Sep 17, 2008 | 21 | Oct 15, 2008 | 56 | Jan 6, 2009 | 77 |
| -2.09% | Mar 11, 2004 | 46 | May 14, 2004 | 285 | Jul 1, 2005 | 331 |
| -1.59% | Apr 7, 2025 | 3 | Apr 9, 2025 | — | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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