SHNJX vs. LSMSX
Compare and contrast key facts about Western Asset New Jersey Municipals Fund (SHNJX) and Western Asset SMASh Series TF Fund (LSMSX).
SHNJX is managed by Franklin Templeton. It was launched on Apr 21, 1988. LSMSX is managed by Franklin Templeton. It was launched on Dec 22, 2015.
Performance
SHNJX vs. LSMSX - Performance Comparison
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SHNJX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHNJX Western Asset New Jersey Municipals Fund | -0.35% | 4.30% | 2.75% | 6.22% | -9.69% | 3.58% | 3.96% | 7.11% | 0.81% | 5.53% |
LSMSX Western Asset SMASh Series TF Fund | -0.27% | 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, SHNJX achieves a -0.35% return, which is significantly lower than LSMSX's -0.27% return.
SHNJX
- 1D
- 0.09%
- 1M
- -2.21%
- YTD
- -0.35%
- 6M
- 1.42%
- 1Y
- 4.15%
- 3Y*
- 3.34%
- 5Y*
- 1.15%
- 10Y*
- 2.16%
LSMSX
- 1D
- 0.21%
- 1M
- -2.62%
- YTD
- -0.27%
- 6M
- 1.22%
- 1Y
- 3.63%
- 3Y*
- 3.26%
- 5Y*
- 1.12%
- 10Y*
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SHNJX vs. LSMSX - Expense Ratio Comparison
SHNJX has a 0.80% expense ratio, which is higher than LSMSX's 0.01% expense ratio.
Return for Risk
SHNJX vs. LSMSX — Risk / Return Rank
SHNJX
LSMSX
SHNJX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset New Jersey Municipals Fund (SHNJX) 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.
| SHNJX | LSMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.67 | +0.35 |
Sortino ratioReturn per unit of downside risk | 1.40 | 0.89 | +0.51 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.71 | +0.42 |
Martin ratioReturn relative to average drawdown | 3.65 | 1.98 | +1.67 |
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
| SHNJX | LSMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.67 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.25 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.58 | +0.70 |
Correlation
The correlation between SHNJX and LSMSX is 0.82, 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
SHNJX vs. LSMSX - Dividend Comparison
SHNJX's dividend yield for the trailing twelve months is around 3.17%, less than LSMSX's 3.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHNJX Western Asset New Jersey Municipals Fund | 3.17% | 3.88% | 3.15% | 2.75% | 2.38% | 2.10% | 2.76% | 3.32% | 3.69% | 3.95% | 3.76% | 3.81% |
LSMSX Western Asset SMASh Series TF Fund | 3.97% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
Drawdowns
SHNJX vs. LSMSX - Drawdown Comparison
The maximum SHNJX drawdown since its inception was -14.33%, roughly equal to the maximum LSMSX drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for SHNJX and LSMSX.
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Drawdown Indicators
| SHNJX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.33% | -15.00% | +0.67% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -6.21% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -13.75% | -15.00% | +1.25% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | — | — |
Current DrawdownCurrent decline from peak | -2.21% | -2.62% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -1.76% | -2.88% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 2.21% | -0.82% |
Volatility
SHNJX vs. LSMSX - Volatility Comparison
The current volatility for Western Asset New Jersey Municipals Fund (SHNJX) is 1.00%, while Western Asset SMASh Series TF Fund (LSMSX) has a volatility of 1.10%. This indicates that SHNJX 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.
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Volatility by Period
| SHNJX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.10% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.55% | 1.60% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 5.78% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.79% | 4.44% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 4.52% | -0.39% |