Fixed Income

Legg Mason Western Asset US Core Plus Bond Fund

ISIN {{shareClass.altcodes.isin}} -

Share Class Inception Date

Performance Inception Date

AUM

Morningstar Rating

Objective

Fund Managers

John Bellows, Ph.D.
Frederick Marki
S. Kenneth Leech
Mark Lindbloom
Julien A. Scholnick
Legg Mason Western Asset US Core Plus Bond Fund

  • The value of investments and the income from them may go down as well as up and you may not get back the amount you originally invested. 

Performance

Calendar Year Performance (%)

As of 
Calendar performance data is not available for selected share class
The reported share class has insufficient data history to be able to show past performance.

Cumulative Performance (%)

As of
The reported share class has insufficient data history to be able to show past performance.
YTD % 1-m % 3-m % 1-y % 3-y % 5-y % 10-y %

Rolling 12 Month performance (%)

As of
Annual discrete performance data is not available for selected share class
The reported share class has insufficient data history to be able to show past performance.

(As of ) At NAV
The reported share class has insufficient data history to be able to show past performance.

(As of ) At NAV excluding sales charges
The reported share class has insufficient data history to be able to show past performance.

  • Return information presented is stated in U.S. Dollars and is calculated using the share class indicated above after all Fund operating expenses but before sales charges. The maximum sales charge for Class A Shares is 5.00% and 2.50% for Class E Shares. Class B Shares may be subject to a contingent deferred sales charge (“CDSC”) up to 5%, imposed on redemptions within the first five years after purchase. Class C Shares may be subject to a CDSC up to 1%, imposed on redemptions within the first year after purchase. Performance would have been lower if sales charges had been included. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Total return data is as of the date indicated and reflects the reinvestment of distributions. Performance statistics are for the share class indicated only; return figures and other data for other classes of shares will vary. Cumulative returns and returns of less than one year are not annualized. The performance data shown represents past performance and is no guarantee of future results. It is not possible to invest directly in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

    Total Expense Ratio (“TER”): The TER represents the Fund’s actual operating expenses over the past 12 months as of the date indicated. The TER includes investment management fees, custody and administration fees, shareholder service fees, and other expenses. For those share classes which have not been active for an entire year the TER presented is annualized. The Gross Expense ratio reflects the Fund’s actual total expenses incurred and do not reflect any fee waivers and/or expense reimbursements. The Net Expense is the Gross Expense less the advisory fee waivers and/or expense reimbursements. Net Expense reflects the expenses being charged to the fund or share class and reflected in the Net Asset Value. The fee waivers and/or expense reimbursements are voluntary and can be eliminated at any time.

     

  • The Bloomberg Barclays U.S. Aggregate Index is a broad-based bond index comprised of government, corporate, mortgage and asset-backed issues, rated investment grade or higher, and having at least one year to maturity. It is not possible to invest directly in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.
    The Bloomberg Barclays Capital Long Government/Credit Index measures the investment return of all medium and larger public issues of U.S. Treasury, agency, investment-grade corporate, and investment-grade international dollar-denominated bonds with maturities longer than 10 years. The average maturity is approximately 20 years.

  • Performance shown includes periods prior to the Fund’s inception date, reflecting performance of a predecessor fund with a substantially similar investment objective and policy and whose assets were transferred into this Fund on the date indicated above. The performance data should be used for illustrative purposes only, as performance prior to the inception date has not been adjusted to reflect the higher fees of the Fund.

Investment Risks

Fund Facts

Fund inception date
Share class inception date
Predecessor Fund inception date
Benchmark
Domicile
Base Currency
Distribution frequency
Annual management fee (%)

Total Expense Ratio (%)

Total expenses ratio (gross %)
Total expenses ratio (net %)

Daily Statistics

As of
Daily Statistics data is not available for selected share class
NAV -
Change -
% Change -
12-month high -
12-month low -
Total AUM (in millions) -

Fund codes

Fund Codes data is not available for selected share class
ISIN
Bloomberg
CUSIP
SEDOL

Three-Year risk statistics (Annualized)

As of
Three Year Risk Statistics data is not available for selected share class
Risk adjusted alpha
Beta
Standard deviation (%)
Information ratio
Tracking error (%)
R-Squared (%)
Sharpe ratio

  • Sharpe Ratio: A risk-adjusted measure, calculated using standard deviation and excess return to determine reward per unit of risk. The higher the sharpe ratio, the better the fund’s historical risk-adjusted performance. 
    Tracking Error: Dispersal of differences between the returns obtained by the Fund and the benchmark variation.
    Information Ratio: The ratio of annualized expected residual return to residual risk.
    Risk adjusted alpha: A measure of performance vs. a benchmark on a risk-adjusted basis. A positive alpha of 1.0 means the portfolio has outperformed its benchmark index by 1%. Correspondingly, a similar negative alpha would indicate an underperformance of 1%.
    Beta: Measures the sensitivity of the fund to the movements of its benchmark.
    R-Squared: Measures the strength of the linear relationship between the fund and its benchmark. R-Squared at 100 implies perfect linear relationship and zero implies no relationship exists.
    Standard Deviation: Measures the risk or volatility of an investment’s return over a particular time period; the greater the number, the greater the risk.

Portfolio Characteristics

Portfolio Statistics

As of
Number of Holdings
Current Yield (%)
Effective Duration
Yield to Worst (%)
Cash Flow Yield (%)
Weighted Average Life
Percentage of Top 10 Holdings (%)

Sector Allocation (%)

As of 31/05/2020
Mortgage-Backed Securities 34.85
Corporate - Investment Grade 32.68
Emerging Market 10.67
Governments 7.40
Bank Loans 4.39
Inflation Protected Securities 3.66
Asset-Backed Securities 2.35
Corporate - High Yield 2.05
Municipals 0.04
Cash & Cash Equivalents 1.91

Currency Exposure (%)

As of 31/05/2020
US Dollar 93.54
Mexican Peso 2.69
Canadian Dollar 2.24
Russian Ruble 2.07
Brazilian Real 0.99
Indonesian Rupiah 0.99
British Pound 0.81
Chinese Yuan Renminbi 0.43
Indian Rupee 0.14
South African Rand 0.11
Australian Dollar 0.07
Argentine Peso 0.02
China Offshore Renminbi (0.08)
Euro (4.01)

Credit Quality Breakdown (%)

As of 31/05/2020
AAA 42.55
AA 4.76
A 18.23
BBB 20.88
BB 6.14
B 2.99
CCC 0.79
CC 0.49
C 0.11
D 0.09
Not Rated 1.05
Cash & Cash Equivalents 1.91

Country Allocation (%)

As of 31/05/2020
United States 79.20
Mexico 2.47
United Kingdom 1.77
Italy 1.68
Russia 1.67
Open Ended Investment Companies 1.65
Brazil 1.65
Switzerland 1.02
France 0.77
Netherlands 0.73
Indonesia 0.70
Belgium 0.60
Canada 0.55
Israel 0.39
United Arab Emirates 0.38
Spain 0.37
Qatar 0.35
Denmark 0.25
Australia 0.19
Argentina 0.18
Colombia 0.17
Peru 0.17
Poland 0.16
Kuwait 0.15
Luxembourg 0.14
China 0.14
Macau 0.13
Morocco 0.08
0.08
Egypt 0.08
Panama 0.06
South Africa 0.05
Japan 0.04
Kazakhstan 0.04
Finland 0.04
Nigeria 0.02
Cash & Cash Equivalents 1.91

  • Percentages are based on total portfolio as of date displayed and are subject to change at any time. Holdings and allocations breakdowns are provided for information purposes only and should not be deemed a recommendation to buy or sell the securities mentioned or securities in the industries shown. Due to rounding totaled percentages may not equal 100%.

    A negative cash position may be apparent, which is primarily due to the Fund’s unsettled trade activity. This is a more concise approach to defining the cash position and it best represents sector exposures in the Fund. 

  • Yields are based on a Fund’s investments, and not on the distributions paid by the Fund, which may differ.

  • Current yield (%): Current yield (gross of expenses), is not representative for an individual share class as the yield does not deduct the Total Expense Ratio or any applicable taxes and other locally costs.
    Yield to worst (%): Yield to worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. 
    Cash flow yield (%): Cash flow yield takes into account capital expenditures and other ongoing costs a business incurs against its market price per share. It is based on a snapshot of the portfolio on that day and does not include any subscription charges and investors may be subject to tax on distributions.
    Weighted Average Life: The average number of years for which each dollar of unpaid principal remains outstanding. It shows how many years it will take to pay off half the outstanding principal on a bond portfolio.
    Effective Duration: Effective duration gives an indication of the sensitivity of a portfolio’s bond prices to a change in interest rates. The longer the duration, the more sensitive the portfolio is to interest rate changes.
    The 30-day yield: The average of the Fund’s actual net investment income per share, annualized, net of all fees and expenses, earned over the 30-day time period indicated, expressed as a percentage.

  • Credit Quality Breakdown: Nationally Recognized Statistical Rating Organization’s (NRSRO’s) assess the likelihood of bond issuers defaulting on a bond’s coupon and principal payments. The weighted average credit quality by  Western Asset Management assigns each security the higher rating from three NRSRO’s (Standard & Poor’s, Moody’s Investor Services and Fitch Ratings, Ltd.). If only one NRSRO assigns a rating, that rating will be used. Securities that are not rated by all three NRSRO’s are reflected as such. The lower the overall credit rating, the riskier the portfolio. The credit rating is expressed as a regular letter rating (from high to low quality): AAA, AA, A, BBB, BB, ...D. 

Literature

Product Literature - English

Product Literature - Español

Regulatory Documents - English

Regulatory Documents - Español

One of the world’s leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.

Investment Risks

  • All investments involve risk, including the possible loss of principal.

Holdings

Top 10 Holdings (%)

As of 31/05/2020
US TSY N 0.25% 05/25 Mat 05/31/2025 4.15
FNMA 2.5% TBA MBS 30yr Mat 06/01/2050 2.56
FNMA TBA 15 YR 2.5 SINGLE FAMI 0.0000% Mat 02/01/2027 1.86
FNMA TBA 30 YR 3 SINGLE FAMILY 0.0000% Mat 06/01/2042 1.52
UNITED STATES TREASURY INFLATI 1.0000% Mat 02/15/2049 1.43
ITALY 2.3% 10/15/21 1.29
US TSY I/ 0.25% 15/50 IFL 1.03
FNMA TBA JUN 30 SINGLE FAM 0.0000% Mat 06/01/2038 0.96
MEX BONOS DESARR FIX RT 8.0000% Mat 11/07/2047 0.85
GNMA II 30YR JUN FWD 2.5000% Mat 06/01/2050 0.80

Detailed Holdings

Detailed Holdings data is not available for selected share class
Par/Shares Securities description Market value % of investments Country Maturity Date Asset Type S&P Credit Quality Moodys Credit Quality

  • Portfolio holdings are subject to change at any time without notice. This information is provided for information purposes only and should not be construed as a recommendation to purchase or sell any security. The summation of the "Total Net assets %" may not equal 100%. Any difference is due to the portfolio's allocation to cash and cash equivalents.

    Derivatives, if any, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance.

Distributions

Distributions data is not available for selected share class
Ex-dividend/Reinvest date Payable date Reinvest price () Ordinary income ()

  • Distributions are not guaranteed and are subject to change.

  • IMPORTANT INFORMATION

    The Funds are a sub-fund of the Legg Mason Global Funds plc, an umbrella fund, with segregated liability between sub-funds, established as an open-ended investment company with variable capital and incorporated with limited liability under the laws of Ireland with registered number 278601. It qualifies, and is authorized in Ireland by the Central Bank of Ireland as an undertaking for collective investment in transferable securities.