SHDAX Alternatives & Similar Mutual Funds

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
LSMSX	Western Asset SMASh Series TF Fund	0.01%	—	Dec 2015	SHDAX vs LSMSX
NMTRX	Nuveen Municipal Total Return Managed Accounts	0.05%	—	May 2007	SHDAX vs NMTRX
FHMIX	Federated Hermes Conservative Municipal Microshort...	0.05%	—	Feb 2021	SHDAX vs FHMIX
FSMUX	Strategic Advisers Municipal Bond Fund	0.06%	—	Jun 2021	SHDAX vs FSMUX
FMBIX	Fidelity Municipal Bond Index Fund	0.07%	0.00	Jul 2019	SHDAX vs FMBIX

Best Risk-Adjusted Alternatives to SHDAX

SHDAX has a PortfoliosLab risk / return rank of 78. There are 79 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.

Symbol	Name	Risk / Return Rank	AUM	Inception
DFABX	DFA Short-Term Selective State Municipal Bond Port...	100	—	Apr 2022	SHDAX vs DFABX
DNYMX	DFA NY Municipal Bond Portfolio	99	—	Jun 2015	SHDAX vs DNYMX
DFCMX	DFA California Short Term Municipal Bond Portfolio	99	—	Apr 2007	SHDAX vs DFCMX
DFSMX	DFA Short Term Municipal Bond Portfolio	99	—	Aug 2002	SHDAX vs DFSMX
ATOIX	abrdn Ultra Short Municipal Income Fund	99	—	Dec 2002	SHDAX vs ATOIX

Top Performing SHDAX Alternatives (YTD)

SHDAX is at 0.68% YTD. There are 448 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.65%.

Symbol	Name	YTD Return	AUM	Inception
NMI	Nuveen Municipal Income Fund, Inc.	11.65%	—	Apr 1998	SHDAX vs NMI
NPV	Nuveen Virginia Quality Municipal Income Fund	6.88%	—	Mar 1993	SHDAX vs NPV
NRK	Nuveen New York AMT Free Quality Municipal Income	6.87%	—	Nov 2002	SHDAX vs NRK
AFB	AllianceBernstein National Municipal Income Fund	6.20%	—	Nov 2001	SHDAX vs AFB
MIY	BlackRock MuniYield Michigan Quality Fund	5.14%	—	Oct 1992	SHDAX vs MIY

Lowest Volatility Alternatives to SHDAX

SHDAX has 1.48% 1-year volatility. There are 53 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.

Symbol	Name	Volatility 1Y	AUM	Inception
DFABX	DFA Short-Term Selective State Municipal Bond Port...	0.56%	—	Apr 2022	SHDAX vs DFABX
DFCMX	DFA California Short Term Municipal Bond Portfolio	0.59%	—	Apr 2007	SHDAX vs DFCMX
USMSX	JPMorgan Ultra-Short Municipal Fund	0.59%	—	May 2016	SHDAX vs USMSX
USMTX	JPMorgan Ultra-Short Municipal Fund	0.59%	—	May 2016	SHDAX vs USMTX
DFSMX	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
BATVX	BlackRock Allocation Target Shares	0.00%	—	May 2021	SHDAX vs BATVX
ATOIX	abrdn Ultra Short Municipal Income Fund	-0.10%	—	Dec 2002	SHDAX vs ATOIX
APUSX	Cavanal Hill Ultra Short Tax-Free Income Fund	-0.10%	—	Dec 2017	SHDAX vs APUSX
FHMIX	Federated Hermes Conservative Municipal Microshort...	-0.10%	—	Feb 2021	SHDAX vs FHMIX
TFCYX	SEI Institutional Managed Trust Tax-Free Conservat...	-0.10%	—	Apr 2016	SHDAX vs TFCYX

Other Mutual Funds from Franklin Templeton

The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 6 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FKDNX	Franklin DynaTech Fund	Large Cap Growth Equities	23	13.49%	—	Jan 1968	SHDAX vs FKDNX
FKRCX	Franklin Gold and Precious Metals Fund	Precious Metals	43	6.83%	—	May 1969	SHDAX vs FKRCX
FKINX	Franklin Income Fund Class A1	Diversified Portfolio	87	5.16%	—	—	SHDAX vs FKINX
FKGRX	Franklin Growth Fund	Large Cap Growth Equities	29	7.09%	—	Apr 1948	SHDAX vs FKGRX
EMO	ClearBridge Energy Midstream Opportunity Fund	MLPs, Energy Equities	20	15.80%	—	Jun 2011	SHDAX vs EMO
FRDPX	Franklin Rising Dividends Fund	Large Cap Blend Equities	34	5.86%	—	Jan 1987	SHDAX vs FRDPX
SBLGX	ClearBridge Large Cap Growth Fund	Large Cap Growth Equities	10	5.90%	—	Aug 1997	SHDAX vs SBLGX
SHRAX	ClearBridge Aggressive Growth Fund	Large Cap Blend Equities	9	3.89%	—	Oct 1983	SHDAX vs SHRAX
FRIAX	Franklin Income Fund Advisor Class	Diversified Portfolio	92	5.29%	—	Aug 1997	SHDAX vs FRIAX
SHAPX	ClearBridge Appreciation Fund	Large Cap Blend Equities	37	6.04%	—	Mar 1970	SHDAX vs SHAPX

Often Compared With SHDAX

Investors most often compare SHDAX with MUJ, MPA, FGNSX. These 5 comparison targets span 1 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
MUJ	BlackRock MuniHoldings New Jersey Quality Fund	Municipal Bonds	44	4.64%	—	Mar 1998	SHDAX vs MUJ
MPA	BlackRock MuniYield Pennsylvania Quality Fund	Municipal Bonds	22	3.87%	—	Nov 1992	SHDAX vs MPA
FGNSX	Strategic Advisers Tax-Sensitive Short Duration Fu...	Municipal Bonds	96	0.67%	—	Dec 2017	SHDAX vs FGNSX
NQP	Nuveen Pennsylvania Quality Municipal Income	Municipal Bonds	—	—	—	Feb 1991	SHDAX vs NQP
FXIEX	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.

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Diversifiers

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

Western Asset Short Duration Municipal Income Fund (SHDAX) Alternatives