WDI vs. SHAPX

Last updated Apr 1, 2026

Compare and contrast key facts about Western Asset Diversified Income Fund (WDI) and ClearBridge Appreciation Fund (SHAPX).

WDI is managed by Franklin Templeton. It was launched on Jun 24, 2021. SHAPX is managed by Franklin Templeton. It was launched on Mar 10, 1970.

Performance

WDI vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Asset Diversified Income Fund (WDI) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

WDI vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WDI Western Asset Diversified Income Fund	-0.54%	10.64%	13.88%	25.11%	-23.30%	-5.66%
SHAPX ClearBridge Appreciation Fund	-6.24%	14.32%	22.37%	19.50%	-12.56%	9.52%

Returns By Period

In the year-to-date period, WDI achieves a -0.54% return, which is significantly higher than SHAPX's -6.24% return.

WDI

• 1D: 2.91%
• 1M: -2.77%
• YTD: -0.54%
• 6M: -2.65%
• 1Y: 5.32%
• 3Y*: 13.33%
• 5Y*: —
• 10Y*: —

SHAPX

• 1D: -0.06%
• 1M: -7.91%
• YTD: -6.24%
• 6M: -5.30%
• 1Y: 10.69%
• 3Y*: 14.58%
• 5Y*: 10.06%
• 10Y*: 11.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WDI vs. SHAPX - Expense Ratio Comparison

WDI has a 1.73% expense ratio, which is higher than SHAPX's 0.93% expense ratio.

WDI

Western Asset Diversified Income Fund

SHAPX

ClearBridge Appreciation Fund

Return for Risk

WDI vs. SHAPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WDI

WDI Risk / Return Rank: 16
WDI Sharpe Ratio Rank: 16
WDI Sortino Ratio Rank: 13
WDI Omega Ratio Rank: 17
WDI Calmar Ratio Rank: 16
WDI Martin Ratio Rank: 15

SHAPX

SHAPX Risk / Return Rank: 35
SHAPX Sharpe Ratio Rank: 32
SHAPX Sortino Ratio Rank: 34
SHAPX Omega Ratio Rank: 37
SHAPX Calmar Ratio Rank: 32
SHAPX Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WDI vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Asset Diversified Income Fund (WDI) and ClearBridge Appreciation Fund (SHAPX). 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.

	WDI	SHAPX	Difference
Sharpe ratio Return per unit of total volatility	0.41	0.72	-0.31
Sortino ratio Return per unit of downside risk	0.58	1.13	-0.55
Omega ratio Gain probability vs. loss probability	1.10	1.17	-0.07
Calmar ratio Return relative to maximum drawdown	0.47	0.89	-0.42
Martin ratio Return relative to average drawdown	1.49	4.11	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WDI vs. SHAPX - Sharpe Ratio Comparison

The current WDI Sharpe Ratio is 0.41, which is lower than the SHAPX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of WDI and SHAPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WDI	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	0.72	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.77	-0.57

Correlation

The correlation between WDI and SHAPX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WDI vs. SHAPX - Dividend Comparison

WDI's dividend yield for the trailing twelve months is around 13.26%, less than SHAPX's 15.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WDI Western Asset Diversified Income Fund	13.26%	13.98%	12.32%	11.45%	11.40%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SHAPX ClearBridge Appreciation Fund	15.01%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Drawdowns

WDI vs. SHAPX - Drawdown Comparison

The maximum WDI drawdown since its inception was -32.45%, smaller than the maximum SHAPX drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for WDI and SHAPX.

Drawdown Indicators

	WDI	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-32.45%	-46.19%	+13.74%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-10.57%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.21%	—
Current Drawdown Current decline from peak	-5.17%	-8.74%	+3.57%
Average Drawdown Average peak-to-trough decline	-10.69%	-4.79%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.29%	+1.24%

Volatility

WDI vs. SHAPX - Volatility Comparison

Western Asset Diversified Income Fund (WDI) has a higher volatility of 4.92% compared to ClearBridge Appreciation Fund (SHAPX) at 3.74%. This indicates that WDI's price experiences larger fluctuations and is considered to be riskier than SHAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WDI	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	3.74%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	7.86%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	15.90%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	14.85%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	16.70%	-3.65%