LTEBX vs. LSMSX
Compare and contrast key facts about American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) and Western Asset SMASh Series TF Fund (LSMSX).
LTEBX is managed by American Funds. It was launched on Oct 5, 1993. LSMSX is managed by Franklin Templeton. It was launched on Dec 22, 2015.
Performance
LTEBX vs. LSMSX - Performance Comparison
Loading graphics...
LTEBX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTEBX American Funds Limited Term Tax-Exempt Bond Fund | -0.24% | 6.02% | 1.97% | 3.82% | -5.12% | -0.01% | 4.01% | 4.67% | 1.08% | 2.32% |
LSMSX Western Asset SMASh Series TF Fund | 0.04% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
Returns By Period
In the year-to-date period, LTEBX achieves a -0.24% return, which is significantly lower than LSMSX's 0.04% return.
LTEBX
- 1D
- 0.19%
- 1M
- -1.83%
- YTD
- -0.24%
- 6M
- 0.63%
- 1Y
- 4.04%
- 3Y*
- 3.28%
- 5Y*
- 1.27%
- 10Y*
- 1.73%
LSMSX
- 1D
- 0.31%
- 1M
- -2.02%
- YTD
- 0.04%
- 6M
- 1.43%
- 1Y
- 3.42%
- 3Y*
- 3.36%
- 5Y*
- 1.17%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
LTEBX vs. LSMSX - Expense Ratio Comparison
LTEBX has a 0.57% expense ratio, which is higher than LSMSX's 0.01% expense ratio.
Return for Risk
LTEBX vs. LSMSX — Risk / Return Rank
LTEBX
LSMSX
LTEBX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) and Western Asset SMASh Series TF Fund (LSMSX). 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.
| LTEBX | LSMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 0.69 | +0.82 |
Sortino ratioReturn per unit of downside risk | 2.00 | 0.91 | +1.09 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.20 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 0.67 | +1.04 |
Martin ratioReturn relative to average drawdown | 6.81 | 1.88 | +4.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| LTEBX | LSMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.69 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.26 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.47 | 0.59 | +0.87 |
Correlation
The correlation between LTEBX and LSMSX is 0.78, 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
LTEBX vs. LSMSX - Dividend Comparison
LTEBX's dividend yield for the trailing twelve months is around 2.59%, less than LSMSX's 3.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTEBX American Funds Limited Term Tax-Exempt Bond Fund | 2.59% | 3.39% | 2.34% | 1.74% | 0.87% | 1.24% | 1.92% | 2.19% | 2.04% | 2.21% | 1.92% | 2.34% |
LSMSX Western Asset SMASh Series TF Fund | 3.96% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
Drawdowns
LTEBX vs. LSMSX - Drawdown Comparison
The maximum LTEBX drawdown since its inception was -8.33%, smaller than the maximum LSMSX drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for LTEBX and LSMSX.
Loading graphics...
Drawdown Indicators
| LTEBX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.33% | -15.00% | +6.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -6.21% | +3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -8.33% | -15.00% | +6.67% |
Max Drawdown (10Y)Largest decline over 10 years | -8.33% | — | — |
Current DrawdownCurrent decline from peak | -2.08% | -2.32% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -2.88% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 2.22% | -1.49% |
Volatility
LTEBX vs. LSMSX - Volatility Comparison
The current volatility for American Funds Limited Term Tax-Exempt Bond Fund (LTEBX) is 0.82%, while Western Asset SMASh Series TF Fund (LSMSX) has a volatility of 1.16%. This indicates that LTEBX experiences smaller price fluctuations and is considered to be less risky than LSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| LTEBX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 1.16% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 1.63% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 5.77% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 4.45% | -2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 4.52% | -2.19% |