Western Asset Total Return Unconstrained Fund (WAARX)

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Western Asset Total Return Unconstrained Fund (WAARX) is up 0.7% since the beginning of the year. WAARX is currently trading at $9 per share. Investors who bought $1,000 worth of WAARX shares 5 years ago would now be looking at an investment worth $1,008.

Western Asset Total Return Unconstrained Fund (WAARX) has returned 0.66% so far this year and 4.01% over the past 12 months. Over the last ten years, WAARX has returned 2.22% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.

Based on dividend-adjusted daily data since Jul 10, 2006, WAARX's average daily return is +0.01%, while the average monthly return is +0.30%. At this rate, an investment would double in approximately 19.3 years.

Historically, 65% of months were positive and 35% were negative. The best month was Jul 2009 with a return of +6.0%, while the worst month was Mar 2020 at -7.7%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.

On a daily basis, WAARX closed higher 39% of trading days. The best single day was May 30, 2008 with a return of +3.1%, while the worst single day was Mar 9, 2020 at -2.8%.

Western Asset Total Return Unconstrained Fund has an annualized alpha of 3.13%, beta of 0.04, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since July 11, 2006.

• This fund participated in 22.16% of S&P 500 Index downside but only 21.71% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.04 may look defensive, but with R2 of 0.03 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.03 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

WAARX has an expense ratio of 0.74%, placing it in the medium range.

WAARX ranks 31 for risk / return — below 31% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Western Asset Total Return Unconstrained Fund (WAARX) and compare them to S&P 500 Index.

Western Asset Total Return Unconstrained Fund provided a 4.85% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Western Asset Total Return Unconstrained Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Western Asset Total Return Unconstrained 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 Total Return Unconstrained Fund was 20.10%, occurring on Dec 5, 2008. Recovery took 157 trading sessions.

The current Western Asset Total Return Unconstrained Fund drawdown is 0.53%.

The chart below shows the rolling one-month volatility.