LSMSX vs. EMO
LSMSX (Western Asset SMASh Series TF Fund) and EMO (ClearBridge Energy Midstream Opportunity Fund Inc.) are both mutual funds - LSMSX is a Municipal Bonds fund managed by Franklin Templeton, while EMO is a MLPs fund actively managed by Franklin Templeton. Over the past 5 years, LSMSX returned 0.67%/yr vs 30.59%/yr for EMO. Their 0.00 correlation means their historical movements had little consistent relationship. LSMSX charges 0.01%/yr vs 3.22%/yr for EMO.
Performance
LSMSX vs. EMO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LSMSX achieves a 1.01% return, which is significantly lower than EMO's 20.28% return.
LSMSX
- 1D
- 0.00%
- 1M
- -1.89%
- 6M
- 0.06%
- YTD
- 1.01%
- 1Y
- 6.53%
- 3Y*
- 3.86%
- 5Y*
- 0.67%
- 10Y*
- —
- ALL TIME*
- 2.66%
EMO
- 1D
- -0.33%
- 1M
- 4.38%
- 6M
- 11.72%
- YTD
- 20.28%
- 1Y
- 20.43%
- 3Y*
- 29.32%
- 5Y*
- 30.59%
- 10Y*
- 7.28%
- ALL TIME*
- 4.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.84M | $2.06M | $2.40M | |
| $0.00 | $0.00 | $0.00 |
LSMSX vs. EMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LSMSX Western Asset SMASh Series TF Fund | 1.01% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
EMO ClearBridge Energy Midstream Opportunity Fund Inc. | 20.28% | 7.38% | 44.45% | 31.76% | 40.13% | 74.70% | -64.47% | 19.60% | -25.73% | -4.45% |
Correlation
The correlation between LSMSX and EMO is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.00 |
The correlation between LSMSX and EMO shifts across timeframes, from -0.20 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LSMSX vs. EMO — Risk / Return Rank
LSMSX
EMO
LSMSX vs. EMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset SMASh Series TF Fund (LSMSX) and ClearBridge Energy Midstream Opportunity Fund Inc. (EMO). 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.
| LSMSX | EMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.23 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 1.89 | +0.44 |
| Martin ratioReturn relative to average drawdown | 7.64 | 3.90 | +3.73 |
Loading charts...
Drawdowns
LSMSX vs. EMO - Drawdown Comparison
The maximum LSMSX drawdown since its inception was -15.00%, smaller than the maximum EMO drawdown of -95.06%. Use the drawdown chart below to compare losses from any high point for LSMSX and EMO.
Loading charts...
Drawdown Indicators
| LSMSX | EMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.00% | -95.06% | +80.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -10.87% | +8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -7.49% | -18.81% | +11.32% |
Max Drawdown (5Y)Largest decline over 5 years | -14.85% | -28.59% | +13.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.02% | — |
Current DrawdownCurrent decline from peak | -1.89% | -3.17% | +1.28% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -31.65% | +28.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 5.25% | -4.39% |
Volatility
LSMSX vs. EMO - Volatility Comparison
The current volatility for Western Asset SMASh Series TF Fund (LSMSX) is 0.99%, while ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) has a volatility of 5.16%. This indicates that LSMSX experiences smaller price fluctuations and is considered to be less risky than EMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LSMSX | EMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 5.16% | -4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 12.61% | -10.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 16.42% | -13.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 26.03% | -21.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 41.14% | -36.66% |
LSMSX vs. EMO - Expense Ratio Comparison
LSMSX has a 0.01% expense ratio, which is lower than EMO's 3.22% expense ratio.
Dividends
LSMSX vs. EMO - Dividend Comparison
LSMSX's dividend yield for the trailing twelve months is around 3.95%, less than EMO's 8.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMO ClearBridge Energy Midstream Opportunity Fund Inc. | 8.44% | 9.41% | 7.16% | 6.79% | 6.71% | 6.71% | 15.82% | 10.94% | 16.39% | 10.85% | 9.76% | 11.88% |
LSMSX Western Asset SMASh Series TF Fund | 3.95% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
Frequently Asked Questions
LSMSX and EMO have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMO has higher volatility (5.16%) compared to LSMSX (0.99%). In terms of maximum drawdown, LSMSX dropped -15.00% vs EMO's -95.06%.
LSMSX currently has the higher Sharpe Ratio (2.30 vs 1.25), 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.
Find the right allocation for LSMSX and EMO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer