LMGTX vs. LMSMX

Last updated Apr 1, 2026

Compare and contrast key facts about ClearBridge International Growth Fund (LMGTX) and Western Asset SMASh Series M Fund (LMSMX).

LMGTX is managed by Legg Mason. It was launched on Apr 16, 1995. LMSMX is managed by Legg Mason. It was launched on Dec 27, 2006.

Performance

LMGTX vs. LMSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge International Growth Fund (LMGTX) and Western Asset SMASh Series M Fund (LMSMX). The values are adjusted to include any dividend payments, if applicable.

LMGTX vs. LMSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMGTX ClearBridge International Growth Fund	-7.54%	21.83%	6.39%	13.17%	-21.97%	2.93%	23.55%	30.01%	-10.28%	28.46%
LMSMX Western Asset SMASh Series M Fund	0.18%	12.15%	-1.72%	5.13%	-23.44%	-2.32%	12.86%	7.71%	1.46%	5.52%

Returns By Period

In the year-to-date period, LMGTX achieves a -7.54% return, which is significantly lower than LMSMX's 0.18% return.

LMGTX

• 1D: 0.18%
• 1M: -13.09%
• YTD: -7.54%
• 6M: -7.02%
• 1Y: 7.82%
• 3Y*: 7.20%
• 5Y*: 2.50%
• 10Y*: 7.85%

LMSMX

• 1D: 0.38%
• 1M: -2.14%
• YTD: 0.18%
• 6M: 2.13%
• 1Y: 7.23%
• 3Y*: 3.73%
• 5Y*: -1.80%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LMGTX vs. LMSMX - Expense Ratio Comparison

LMGTX has a 1.80% expense ratio, which is higher than LMSMX's 0.00% expense ratio.

LMGTX

ClearBridge International Growth Fund

LMSMX

Western Asset SMASh Series M Fund

Return for Risk

LMGTX vs. LMSMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LMGTX

LMGTX Risk / Return Rank: 15
LMGTX Sharpe Ratio Rank: 14
LMGTX Sortino Ratio Rank: 14
LMGTX Omega Ratio Rank: 13
LMGTX Calmar Ratio Rank: 15
LMGTX Martin Ratio Rank: 17

LMSMX

LMSMX Risk / Return Rank: 62
LMSMX Sharpe Ratio Rank: 57
LMSMX Sortino Ratio Rank: 61
LMSMX Omega Ratio Rank: 53
LMSMX Calmar Ratio Rank: 75
LMSMX Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LMGTX vs. LMSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge International Growth Fund (LMGTX) and Western Asset SMASh Series M Fund (LMSMX). 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.

	LMGTX	LMSMX	Difference
Sharpe ratio Return per unit of total volatility	0.38	1.07	-0.68
Sortino ratio Return per unit of downside risk	0.64	1.59	-0.95
Omega ratio Gain probability vs. loss probability	1.09	1.21	-0.13
Calmar ratio Return relative to maximum drawdown	0.45	1.76	-1.31
Martin ratio Return relative to average drawdown	1.80	5.92	-4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMGTX vs. LMSMX - Sharpe Ratio Comparison

The current LMGTX Sharpe Ratio is 0.38, which is lower than the LMSMX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of LMGTX and LMSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LMGTX	LMSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	1.07	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	-0.17	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.16	+0.16

Correlation

The correlation between LMGTX and LMSMX is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LMGTX vs. LMSMX - Dividend Comparison

LMGTX's dividend yield for the trailing twelve months is around 8.45%, more than LMSMX's 4.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMGTX ClearBridge International Growth Fund	8.45%	7.81%	0.54%	0.48%	0.07%	2.24%	0.00%	0.00%	0.00%	0.00%
LMSMX Western Asset SMASh Series M Fund	4.39%	4.20%	5.24%	4.68%	3.40%	3.78%	6.84%	7.19%	3.18%	3.24%

Drawdowns

LMGTX vs. LMSMX - Drawdown Comparison

The maximum LMGTX drawdown since its inception was -71.47%, which is greater than LMSMX's maximum drawdown of -30.76%. Use the drawdown chart below to compare losses from any high point for LMGTX and LMSMX.

Drawdown Indicators

	LMGTX	LMSMX	Difference
Max Drawdown Largest peak-to-trough decline	-71.47%	-30.76%	-40.71%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-4.83%	-8.88%
Max Drawdown (5Y) Largest decline over 5 years	-35.65%	-30.18%	-5.47%
Max Drawdown (10Y) Largest decline over 10 years	-35.65%	—	—
Current Drawdown Current decline from peak	-13.56%	-13.35%	-0.21%
Average Drawdown Average peak-to-trough decline	-16.56%	-10.07%	-6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	1.44%	+1.97%

Volatility

LMGTX vs. LMSMX - Volatility Comparison

ClearBridge International Growth Fund (LMGTX) has a higher volatility of 8.44% compared to Western Asset SMASh Series M Fund (LMSMX) at 1.51%. This indicates that LMGTX's price experiences larger fluctuations and is considered to be riskier than LMSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMGTX	LMSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	1.51%	+6.93%
Volatility (6M) Calculated over the trailing 6-month period	12.79%	2.45%	+10.34%
Volatility (1Y) Calculated over the trailing 1-year period	18.60%	6.95%	+11.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	10.39%	+7.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	8.22%	+8.95%