Western Asset California Municipals Fund (SHRCX)
The fund normally invests at least 80% of its assets in California municipal securities and other investments with similar economic characteristics, the interest on which is exempt from regular federal income tax and California state personal 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. It is non-diversified.
Fund Info
| ISIN | US52468T1025 |
|---|---|
| CUSIP | 52468T102 |
| Issuer | Franklin Templeton Investments |
| Inception Date | Apr 8, 1984 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
SHRCX features an expense ratio of 0.76%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Western Asset California Municipals Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Western Asset California Municipals Fund had a return of 3.17% year-to-date (YTD) and 7.73% in the last 12 months. Over the past 10 years, Western Asset California Municipals Fund had an annualized return of 2.08%, while the S&P 500 had an annualized return of 10.85%, indicating that Western Asset California Municipals Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 3.17% | 17.79% |
| 1 month | 1.11% | 0.18% |
| 6 months | 3.11% | 7.53% |
| 1 year | 7.73% | 26.42% |
| 5 years (annualized) | 0.85% | 13.48% |
| 10 years (annualized) | 2.08% | 10.85% |
Monthly Returns
The table below presents the monthly returns of SHRCX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.03% | 0.16% | 0.18% | -1.04% | 0.20% | 1.60% | 0.68% | 0.62% | 3.17% | ||||
| 2023 | 2.77% | -1.84% | 1.56% | 0.14% | -0.48% | 0.32% | 0.29% | -1.13% | -2.45% | -1.55% | 5.75% | 2.37% | 5.60% |
| 2022 | -2.74% | -0.61% | -3.09% | -3.27% | 1.04% | -2.17% | 2.79% | -2.03% | -4.07% | -1.05% | 4.62% | -0.04% | -10.46% |
| 2021 | 0.74% | -1.87% | 0.65% | 1.09% | 0.68% | 0.38% | 0.81% | -0.45% | -0.88% | -0.13% | 0.94% | 0.13% | 2.08% |
| 2020 | 1.92% | 1.37% | -6.19% | -1.32% | 3.32% | 1.18% | 1.71% | -0.23% | -0.10% | -0.15% | 1.79% | 0.73% | 3.77% |
| 2019 | 0.62% | 0.40% | 1.71% | 0.60% | 1.38% | 0.39% | 0.77% | 1.83% | -0.68% | 0.06% | 0.05% | 0.33% | 7.70% |
| 2018 | -1.27% | -0.43% | 0.51% | -0.41% | 1.40% | 0.18% | 0.10% | 0.20% | -0.71% | -0.63% | 0.93% | 0.62% | 0.44% |
| 2017 | 0.40% | 0.50% | 0.21% | 0.70% | 1.22% | -0.05% | 0.52% | 0.64% | -0.42% | 0.19% | -0.12% | 1.08% | 4.97% |
| 2016 | 1.19% | -0.10% | 0.52% | 0.68% | 0.33% | 1.52% | -0.03% | 0.02% | -0.35% | -0.89% | -3.40% | 0.52% | -0.05% |
| 2015 | 2.03% | -0.91% | 0.24% | -0.61% | -0.35% | -0.13% | 0.31% | 0.24% | 0.53% | 0.54% | 0.22% | 0.75% | 2.87% |
| 2014 | 1.78% | 1.47% | 0.38% | 1.16% | 1.64% | 0.23% | -0.01% | 1.26% | 0.34% | 0.89% | 0.04% | 0.29% | 9.85% |
| 2013 | 0.76% | 0.44% | -0.39% | 0.93% | -1.19% | -3.97% | -1.20% | -1.66% | 1.97% | 1.14% | -0.36% | -0.29% | -3.87% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of SHRCX is 55, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Western Asset California Municipals Fund (SHRCX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Western Asset California Municipals Fund granted a 2.91% dividend yield in the last twelve months. The annual payout for that period amounted to $0.42 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.39 | $0.38 | $0.55 | $0.68 | $0.60 | $0.57 | $0.63 | $0.64 | $0.71 | $0.70 | $0.74 |
Dividend yield | 2.91% | 2.80% | 2.79% | 3.48% | 4.22% | 3.72% | 3.70% | 3.96% | 4.06% | 4.28% | 4.20% | 4.65% |
Monthly Dividends
The table displays the monthly dividend distributions for Western Asset California 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.00 | $0.28 | |||
| 2023 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.39 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.19 | $0.55 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.19 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.13 | $0.68 |
| 2019 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.12 | $0.60 |
| 2018 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.57 |
| 2017 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.63 |
| 2016 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.64 |
| 2015 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.71 |
| 2014 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.70 |
| 2013 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.74 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Western Asset California 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 California Municipals Fund was 16.84%, occurring on Oct 19, 1987. Recovery took 200 trading sessions.
The current Western Asset California Municipals Fund drawdown is 2.83%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.84% | Mar 6, 1987 | 158 | Oct 19, 1987 | 200 | Aug 2, 1988 | 358 |
| -15.78% | Sep 12, 2008 | 66 | Dec 15, 2008 | 177 | Aug 28, 2009 | 243 |
| -15.16% | Aug 6, 2021 | 307 | Oct 25, 2022 | — | — | — |
| -12.87% | Mar 3, 2020 | 14 | Mar 20, 2020 | 182 | Dec 8, 2020 | 196 |
| -12.63% | Dec 13, 1993 | 240 | Nov 22, 1994 | 97 | Apr 12, 1995 | 337 |
Volatility
Volatility Chart
The current Western Asset California Municipals Fund volatility is 0.51%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.