LMECX vs. JGH
LMECX (Western Asset SMASh Series Core Plus Completion Fund) and JGH (Nuveen Global High Income Fund) are both High Yield Bonds funds. Over the past 10 years, LMECX returned 0.74%/yr vs 8.26%/yr for JGH. At a 0.34 correlation, their price movements are largely independent. LMECX charges 0.00%/yr vs 1.68%/yr for JGH.
Performance
LMECX vs. JGH - Performance Comparison
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Returns By Period
In the year-to-date period, LMECX achieves a 0.58% return, which is significantly lower than JGH's 5.00% return. Over the past 10 years, LMECX has underperformed JGH with an annualized return of 0.74%, while JGH has yielded a comparatively higher 8.26% annualized return.
LMECX
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 0.58%
- 6M
- 1.09%
- 1Y
- 5.83%
- 3Y*
- 2.92%
- 5Y*
- -3.94%
- 10Y*
- 0.74%
JGH
- 1D
- -1.02%
- 1M
- 0.65%
- YTD
- 5.00%
- 6M
- 6.26%
- 1Y
- 10.65%
- 3Y*
- 15.87%
- 5Y*
- 5.63%
- 10Y*
- 8.26%
LMECX vs. JGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LMECX Western Asset SMASh Series Core Plus Completion Fund | 0.58% | 9.89% | -3.64% | 7.36% | -29.11% | 0.34% | 1.70% | 19.29% | -2.74% | 8.93% |
JGH Nuveen Global High Income Fund | 5.00% | 8.62% | 15.98% | 20.89% | -21.01% | 10.84% | 2.77% | 30.04% | -12.02% | 15.25% |
Correlation
The correlation between LMECX and JGH is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2014 | 0.34 |
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Return for Risk
LMECX vs. JGH — Risk / Return Rank
LMECX
JGH
LMECX vs. JGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset SMASh Series Core Plus Completion Fund (LMECX) and Nuveen Global High Income Fund (JGH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LMECX | JGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.28 | +0.05 |
| Martin ratioReturn relative to average drawdown | 5.28 | 3.10 | +2.18 |
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Drawdowns
LMECX vs. JGH - Drawdown Comparison
The maximum LMECX drawdown since its inception was -36.92%, smaller than the maximum JGH drawdown of -43.79%. Use the drawdown chart below to compare losses from any high point for LMECX and JGH.
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Drawdown Indicators
| LMECX | JGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.92% | -43.79% | +6.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.26% | -8.37% | +4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.31% | -13.70% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -36.92% | -28.66% | -8.26% |
Max Drawdown (10Y)Largest decline over 10 years | -36.92% | -43.79% | +6.87% |
Current DrawdownCurrent decline from peak | -20.36% | -2.17% | -18.19% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -6.97% | -2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 3.44% | -2.37% |
Volatility
LMECX vs. JGH - Volatility Comparison
The current volatility for Western Asset SMASh Series Core Plus Completion Fund (LMECX) is 1.40%, while Nuveen Global High Income Fund (JGH) has a volatility of 2.30%. This indicates that LMECX experiences smaller price fluctuations and is considered to be less risky than JGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMECX | JGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 2.30% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 4.06% | 7.35% | -3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.61% | 10.35% | -5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.07% | 13.81% | -4.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 15.88% | -7.54% |
LMECX vs. JGH - Expense Ratio Comparison
LMECX has a 0.00% expense ratio, which is lower than JGH's 1.68% expense ratio.
Dividends
LMECX vs. JGH - Dividend Comparison
LMECX's dividend yield for the trailing twelve months is around 4.50%, less than JGH's 9.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JGH Nuveen Global High Income Fund | 9.84% | 9.82% | 9.67% | 10.18% | 12.05% | 8.19% | 7.13% | 7.53% | 9.88% | 8.52% | 9.61% | 11.44% |
LMECX Western Asset SMASh Series Core Plus Completion Fund | 4.50% | 4.90% | 6.36% | 6.13% | 0.94% | 6.37% | 1.45% | 8.12% | 4.65% | 7.29% | 5.70% | 6.43% |
Frequently Asked Questions
LMECX and JGH have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JGH has higher volatility (2.30%) compared to LMECX (1.40%). In terms of maximum drawdown, LMECX dropped -36.92% vs JGH's -43.79%.
LMECX currently has the higher Sharpe Ratio (1.23 vs 1.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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