Western Asset Managed Municipals Fund (SHMMX)
The fund normally invests at least 80% of its assets in municipal securities and other investments with similar economic characteristics, the interest on which is exempt from regular federal income tax but which may be subject to the federal alternative minimum tax. It normally invests in intermediate-term and long-term municipal securities that have remaining maturities from one to more than thirty years at the time of purchase.
Fund Info
US52469J2024
52469J202
Mar 3, 1981
$1,000
Expense Ratio
SHMMX has an expense ratio of 0.67%, 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 Managed Municipals Fund (SHMMX) returned -2.13% year-to-date (YTD) and -0.13% over the past 12 months. Over the past 10 years, SHMMX returned 1.89% annually, underperforming the S&P 500 benchmark at 10.69%.
SHMMX
-2.13%
1.83%
-2.37%
-0.13%
1.67%
1.89%
^GSPC (Benchmark)
-0.64%
8.97%
-2.62%
11.90%
15.76%
10.69%
Monthly Returns
The table below presents the monthly returns of SHMMX, 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 | 0.22% | 1.07% | -1.77% | -1.36% | -0.28% | -2.13% | |||||||
| 2024 | 0.16% | 0.13% | 0.15% | -1.13% | 0.15% | 1.63% | 0.81% | 0.74% | 1.00% | -1.36% | 1.61% | -1.50% | 2.35% |
| 2023 | 3.13% | -2.07% | 1.78% | 0.19% | -0.46% | 0.62% | 0.28% | -1.07% | -2.73% | -1.67% | 6.40% | 2.40% | 6.64% |
| 2022 | -2.50% | -0.68% | -3.09% | -2.74% | 1.08% | -2.01% | 2.44% | -2.11% | -3.85% | -1.26% | 4.82% | -0.32% | -10.06% |
| 2021 | 1.25% | -1.64% | 0.83% | 1.30% | 0.63% | 0.50% | 0.79% | -0.39% | -0.93% | -0.28% | 0.98% | 0.13% | 3.18% |
| 2020 | 2.06% | 1.41% | -7.34% | -1.87% | 3.40% | 2.14% | 1.99% | -0.07% | -0.20% | -0.26% | 2.15% | 1.20% | 4.23% |
| 2019 | 0.60% | 0.49% | 1.65% | 0.55% | 1.23% | 0.34% | 0.64% | 1.80% | -0.71% | 0.01% | 0.12% | 0.29% | 7.22% |
| 2018 | -1.09% | -0.35% | 0.38% | -0.38% | 1.19% | 0.11% | 0.11% | 0.11% | -0.57% | -0.66% | 0.81% | 0.80% | 0.44% |
| 2017 | 0.59% | 0.55% | 0.27% | 0.70% | 1.20% | -0.05% | 0.63% | 0.75% | -0.35% | 0.14% | -0.10% | 1.07% | 5.52% |
| 2016 | 1.04% | -0.06% | 0.62% | 0.66% | 0.42% | 1.60% | -0.05% | 0.18% | -0.47% | -0.99% | -3.41% | 0.71% | 0.14% |
| 2015 | 1.94% | -0.86% | 0.22% | -0.39% | -0.27% | -0.15% | 0.20% | 0.07% | 0.61% | 0.49% | 0.24% | 0.67% | 2.77% |
| 2014 | 2.14% | 1.32% | 0.59% | 1.25% | 1.87% | 0.14% | 0.09% | 1.36% | 0.33% | 0.73% | 0.07% | 0.57% | 10.95% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SHMMX is 14, meaning it’s performing worse than 86% 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 Managed Municipals Fund (SHMMX) 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 Managed Municipals Fund provided a 3.16% dividend yield over the last twelve months, with an annual payout of $0.46 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 | $0.46 | $0.50 | $0.49 | $0.42 | $0.41 | $0.45 | $0.55 | $0.60 | $0.63 | $0.61 | $0.64 | $0.66 |
Dividend yield | 3.16% | 3.33% | 3.24% | 2.88% | 2.47% | 2.73% | 3.34% | 3.82% | 3.88% | 3.81% | 3.81% | 3.90% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset Managed 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 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.13 | |||||||
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.50 |
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.49 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.42 |
| 2021 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.41 |
| 2020 | $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 |
| 2019 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.55 |
| 2018 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.60 |
| 2017 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.63 |
| 2016 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.61 |
| 2015 | $0.06 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.64 |
| 2014 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.06 | $0.66 |
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 Managed 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 Managed Municipals Fund was 16.38%, occurring on Dec 15, 2008. Recovery took 102 trading sessions.
The current Western Asset Managed Municipals Fund drawdown is 4.41%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.38% | Jun 5, 2008 | 134 | Dec 15, 2008 | 102 | May 13, 2009 | 236 |
| -14.95% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -14.2% | Mar 2, 2020 | 16 | Mar 23, 2020 | 182 | Dec 9, 2020 | 198 |
| -14.02% | Mar 23, 1987 | 151 | Oct 19, 1987 | 75 | Feb 1, 1988 | 226 |
| -13.26% | Dec 22, 1993 | 237 | Nov 17, 1994 | 123 | May 9, 1995 | 360 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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