LMSMX vs. MWIGX
Compare and contrast key facts about Western Asset SMASh Series M Fund (LMSMX) and Metropolitan West Investment Grade Credit Fund (MWIGX).
LMSMX is managed by Legg Mason. It was launched on Dec 27, 2006. MWIGX is managed by Metropolitan West Funds. It was launched on Jun 29, 2018.
Performance
LMSMX vs. MWIGX - Performance Comparison
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LMSMX vs. MWIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LMSMX Western Asset SMASh Series M Fund | 0.18% | 12.15% | -1.72% | 5.13% | -23.44% | -2.32% | 12.86% | 7.71% | 2.27% |
MWIGX Metropolitan West Investment Grade Credit Fund | -0.85% | 7.99% | 3.82% | 6.55% | -13.01% | -1.13% | 8.41% | 11.21% | 4.27% |
Returns By Period
In the year-to-date period, LMSMX achieves a 0.18% return, which is significantly higher than MWIGX's -0.85% return.
LMSMX
- 1D
- 0.38%
- 1M
- -2.14%
- YTD
- 0.18%
- 6M
- 2.13%
- 1Y
- 7.23%
- 3Y*
- 3.73%
- 5Y*
- -1.80%
- 10Y*
- —
MWIGX
- 1D
- 0.25%
- 1M
- -2.10%
- YTD
- -0.85%
- 6M
- 0.32%
- 1Y
- 4.36%
- 3Y*
- 4.80%
- 5Y*
- 0.73%
- 10Y*
- —
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LMSMX vs. MWIGX - Expense Ratio Comparison
LMSMX has a 0.00% expense ratio, which is lower than MWIGX's 1.87% expense ratio.
Return for Risk
LMSMX vs. MWIGX — Risk / Return Rank
LMSMX
MWIGX
LMSMX vs. MWIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset SMASh Series M Fund (LMSMX) and Metropolitan West Investment Grade Credit Fund (MWIGX). 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 | MWIGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.41 | -0.34 |
Sortino ratioReturn per unit of downside risk | 1.59 | 2.11 | -0.52 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.18 | -0.42 |
Martin ratioReturn relative to average drawdown | 5.92 | 8.06 | -2.13 |
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 | MWIGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.41 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | 0.15 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.69 | -0.52 |
Correlation
The correlation between LMSMX and MWIGX is 0.81, 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. MWIGX - Dividend Comparison
LMSMX's dividend yield for the trailing twelve months is around 4.39%, more than MWIGX's 3.41% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
MWIGX Metropolitan West Investment Grade Credit Fund | 3.41% | 3.70% | 4.52% | 4.97% | 6.33% | 4.25% | 9.21% | 12.03% | 3.98% | 0.00% |
Drawdowns
LMSMX vs. MWIGX - Drawdown Comparison
The maximum LMSMX drawdown since its inception was -30.76%, which is greater than MWIGX's maximum drawdown of -18.32%. Use the drawdown chart below to compare losses from any high point for LMSMX and MWIGX.
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Drawdown Indicators
| LMSMX | MWIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.76% | -18.32% | -12.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.83% | -2.35% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.18% | -18.32% | -11.86% |
Current DrawdownCurrent decline from peak | -13.35% | -2.10% | -11.25% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -4.54% | -5.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 0.64% | +0.80% |
Volatility
LMSMX vs. MWIGX - Volatility Comparison
Western Asset SMASh Series M Fund (LMSMX) has a higher volatility of 1.51% compared to Metropolitan West Investment Grade Credit Fund (MWIGX) at 1.20%. This indicates that LMSMX's price experiences larger fluctuations and is considered to be riskier than MWIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMSMX | MWIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 1.20% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.01% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.95% | 3.47% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 4.91% | +5.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 4.78% | +3.44% |