Western Asset Short Duration Municipal Income Fund (SHDAX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with SHDAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SHDAX
SHDAX charges 0.55% annually. There are 189 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | SHDAX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | SHDAX vs VTMFX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | SHDAX vs FHMIX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | SHDAX vs NMTRX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | SHDAX vs FSMUX |
Best Risk-Adjusted Alternatives to SHDAX
SHDAX has a PortfoliosLab risk / return rank of 75. There are 142 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | SHDAX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | SHDAX vs ATOIX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | SHDAX vs DFCMX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | SHDAX vs DNYMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | SHDAX vs DFSMX |
Top Performing SHDAX Alternatives (YTD)
SHDAX is at 0.68% YTD. There are 453 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 13.22%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 13.22% | — | Apr 1998 | SHDAX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 9.70% | — | Nov 2002 | SHDAX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 7.62% | — | Nov 2001 | SHDAX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 6.57% | — | Oct 1992 | SHDAX vs MIY | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | SHDAX vs NPV |
Lowest Volatility Alternatives to SHDAX
SHDAX has 1.45% 1-year volatility. There are 49 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | SHDAX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | SHDAX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | SHDAX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.60% | — | May 2016 | SHDAX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | SHDAX vs DFSMX |
Lowest Drawdown Alternatives to SHDAX
SHDAX has a 1-year max drawdown of -1.17%. There are 33 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | SHDAX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | SHDAX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | SHDAX vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | SHDAX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | SHDAX vs FHMIX |
Other Mutual Funds from Franklin Templeton
The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 8 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities, Technology Equities | 19 | 10.18% | — | Jan 1968 | SHDAX vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Gold, Precious Metals | 34 | -1.84% | — | May 1969 | SHDAX vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 82 | 4.34% | — | — | SHDAX vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 24 | 4.76% | — | Apr 1948 | SHDAX vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 23 | 16.33% | — | Jun 2011 | SHDAX vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 32 | 5.20% | — | Jan 1987 | SHDAX vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 7 | 1.54% | — | Aug 1997 | SHDAX vs SBLGX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 7 | 1.90% | — | Oct 1983 | SHDAX vs SHRAX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 87 | 4.46% | — | Aug 1997 | SHDAX vs FRIAX | |
| ClearBridge Appreciation Fund | Large Cap Blend Equities | 31 | 4.32% | — | Mar 1970 | SHDAX vs SHAPX |
Often Compared With SHDAX
Investors most often compare SHDAX with MUJ, MPA, FGNSX. These 4 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| BlackRock MuniHoldings New Jersey Quality Fund | Municipal Bonds | 51 | 5.45% | — | Mar 1998 | SHDAX vs MUJ | |
| BlackRock MuniYield Pennsylvania Quality Fund | Municipal Bonds | 29 | 4.22% | — | Nov 1992 | SHDAX vs MPA | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 97 | 0.77% | — | Dec 2017 | SHDAX vs FGNSX | |
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 78 | 1.81% | — | Jun 2012 | SHDAX vs FXIEX |
Compare SHDAX with Any Fund or Stock
Compare SHDAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SHDAX with funds that move differently
Western Asset Short Duration Municipal Income Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SHDAX.
Explore SHDAX Diversifiers