LMSMX vs. FTRFX
Compare and contrast key facts about Western Asset SMASh Series M Fund (LMSMX) and Federated Hermes Total Return Bond Fund (FTRFX).
LMSMX is managed by Legg Mason. It was launched on Dec 27, 2006. FTRFX is managed by Federated. It was launched on Oct 1, 1996.
Performance
LMSMX vs. FTRFX - Performance Comparison
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LMSMX vs. FTRFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LMSMX Western Asset SMASh Series M Fund | 0.56% | 12.15% | -1.72% | 5.13% | -23.44% | -2.32% | 12.86% | 7.71% | 1.46% | 5.52% |
FTRFX Federated Hermes Total Return Bond Fund | -1.00% | 7.28% | 1.02% | 4.23% | -13.31% | -0.47% | 9.19% | 9.42% | -1.14% | 3.66% |
Returns By Period
In the year-to-date period, LMSMX achieves a 0.56% return, which is significantly higher than FTRFX's -1.00% return.
LMSMX
- 1D
- 0.38%
- 1M
- -1.28%
- YTD
- 0.56%
- 6M
- 2.13%
- 1Y
- 7.08%
- 3Y*
- 3.86%
- 5Y*
- -1.85%
- 10Y*
- —
FTRFX
- 1D
- 0.11%
- 1M
- -1.87%
- YTD
- -1.00%
- 6M
- 0.37%
- 1Y
- 3.53%
- 3Y*
- 2.86%
- 5Y*
- -0.23%
- 10Y*
- 1.92%
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LMSMX vs. FTRFX - Expense Ratio Comparison
LMSMX has a 0.00% expense ratio, which is lower than FTRFX's 0.69% expense ratio.
Return for Risk
LMSMX vs. FTRFX — Risk / Return Rank
LMSMX
FTRFX
LMSMX vs. FTRFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset SMASh Series M Fund (LMSMX) and Federated Hermes Total Return Bond Fund (FTRFX). 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.
| LMSMX | FTRFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.10 | 0.80 | +0.30 |
Sortino ratioReturn per unit of downside risk | 1.64 | 1.18 | +0.46 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.16 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.61 | 1.66 | -0.05 |
Martin ratioReturn relative to average drawdown | 5.40 | 4.86 | +0.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LMSMX | FTRFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 0.80 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | -0.04 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 1.01 | -0.84 |
Correlation
The correlation between LMSMX and FTRFX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
LMSMX vs. FTRFX - Dividend Comparison
LMSMX's dividend yield for the trailing twelve months is around 4.38%, more than FTRFX's 3.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LMSMX Western Asset SMASh Series M Fund | 4.38% | 4.20% | 5.24% | 4.68% | 3.40% | 3.78% | 6.84% | 7.19% | 3.18% | 3.24% | 0.00% | 0.00% |
FTRFX Federated Hermes Total Return Bond Fund | 3.92% | 4.22% | 3.48% | 2.95% | 2.25% | 3.17% | 4.36% | 3.08% | 3.19% | 2.91% | 3.33% | 3.23% |
Drawdowns
LMSMX vs. FTRFX - Drawdown Comparison
The maximum LMSMX drawdown since its inception was -30.76%, which is greater than FTRFX's maximum drawdown of -17.95%. Use the drawdown chart below to compare losses from any high point for LMSMX and FTRFX.
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Drawdown Indicators
| LMSMX | FTRFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.76% | -17.95% | -12.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.83% | -2.80% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -30.18% | -17.95% | -12.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.95% | — |
Current DrawdownCurrent decline from peak | -13.02% | -3.98% | -9.04% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -2.24% | -7.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 0.96% | +0.48% |
Volatility
LMSMX vs. FTRFX - Volatility Comparison
Western Asset SMASh Series M Fund (LMSMX) has a higher volatility of 1.52% compared to Federated Hermes Total Return Bond Fund (FTRFX) at 1.35%. This indicates that LMSMX's price experiences larger fluctuations and is considered to be riskier than FTRFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMSMX | FTRFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.35% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 2.55% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.95% | 4.55% | +2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 5.83% | +4.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 4.76% | +3.46% |