Western Asset Managed Municipals Fund (SHMMX) 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 SHMMX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SHMMX
SHMMX charges 0.67% annually. There are 271 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 | SHMMX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | SHMMX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | SHMMX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | SHMMX vs FSMUX | |
| Fidelity Municipal Bond Index Fund | 0.07% | 0.00 | Jul 2019 | SHMMX vs FMBIX |
Best Risk-Adjusted Alternatives to SHMMX
SHMMX has a PortfoliosLab risk / return rank of 75. There are 122 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 | SHMMX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | SHMMX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | SHMMX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | SHMMX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | SHMMX vs ATOIX |
Top Performing SHMMX Alternatives (YTD)
SHMMX is at 2.01% YTD. There are 84 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.65%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.65% | — | Apr 1998 | SHMMX vs NMI | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | SHMMX vs NPV | |
| Nuveen New York AMT Free Quality Municipal Income | 6.87% | — | Nov 2002 | SHMMX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.20% | — | Nov 2001 | SHMMX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 5.14% | — | Oct 1992 | SHMMX vs MIY |
Lowest Volatility Alternatives to SHMMX
SHMMX has 2.92% 1-year volatility. There are 309 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 | SHMMX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | SHMMX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | SHMMX vs USMTX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | SHMMX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | SHMMX vs DFSMX |
Lowest Drawdown Alternatives to SHMMX
SHMMX has a 1-year max drawdown of -2.71%. There are 207 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 | SHMMX vs BATVX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | SHMMX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | SHMMX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | SHMMX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | SHMMX vs APUSX |
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 | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities | 23 | 13.49% | — | Jan 1968 | SHMMX vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Precious Metals | 43 | 6.83% | — | May 1969 | SHMMX vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 87 | 5.16% | — | — | SHMMX vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 29 | 7.09% | — | Apr 1948 | SHMMX vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 20 | 15.80% | — | Jun 2011 | SHMMX vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 34 | 5.86% | — | Jan 1987 | SHMMX vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 10 | 5.90% | — | Aug 1997 | SHMMX vs SBLGX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 9 | 3.89% | — | Oct 1983 | SHMMX vs SHRAX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 92 | 5.29% | — | Aug 1997 | SHMMX vs FRIAX | |
| ClearBridge Appreciation Fund | Large Cap Blend Equities | 37 | 6.04% | — | Mar 1970 | SHMMX vs SHAPX |
Often Compared With SHMMX
Investors most often compare SHMMX with FGMNX, VOO, FLTMX. These 14 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare SHMMX with Any Fund or Stock
Compare SHMMX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SHMMX with funds that move differently
Western Asset Managed Municipals Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SHMMX.
Explore SHMMX Diversifiers