ARMLX Fees and Costs — Western Asset Ultra-Short Income Fund, Class IS
Data updated: 2026-09-24
The net expense ratio is 0.35%: a 0.30% management fee plus 0.09% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $43K in broker commissions, 0.0101% of average net assets, and portfolio turnover was 48%.
ARMLX Fees and Expenses
Annual operating expenses and sales charges of ARMLX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.39% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ARMLX Costs Over Time
On $10,000 invested in ARMLX, assuming 5% a year before costs, total costs come to $228 over 5 years, cutting the return by 0.38% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $38 | $125 | $228 |
| Value after costs | $10,462 | $11,452 | $12,535 |
| Impact on return, per year | 0.38% | 0.38% | 0.38% |
ARMLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0101%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $340.8M
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
ARMLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| R.J. O'BRIEN SECURITIES, LLC | $12K | 28.46% |
| BARCLAYS CAPITAL, INC. | $11K | 26.07% |
| JEFFERIES LLC | $6K | 13.69% |
| WELLS FARGO SECURITIES, LLC | $3K | 7.24% |
| BOFA SECURITIES, INC. | $2K | 5.98% |
| J.P. MORGAN SECURITIES LLC | $2K | 4.85% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 4.70% |
| MORGAN STANLEY & CO. LLC | $1K | 3.18% |
| DEUTSCHE BANK SECURITIES INC. | $1K | 2.92% |
| GOLDMAN SACHS & CO. LLC | $1K | 2.91% |
ARMLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $40.8M | 15.51% |
| DEUTSCHE BANK SECURITIES, INC. | $35.0M | 13.30% |
| J.P. Morgan Securities LLC | $32.4M | 12.32% |
| BARCLAYS CAPITAL, INC. | $28.4M | 10.78% |
| CitiGroup Global Markets Inc. | $27.0M | 10.26% |
| BMO CAPITAL MARKETS CORP. | $23.1M | 8.77% |
| MORGAN STANLEY & CO. LLC | $21.6M | 8.20% |
| Wells Fargo Securities LLC | $21.6M | 8.20% |
| GOLDMAN SACHS & CO. LLC | $20.4M | 7.74% |
| CASTLEOAK SECURITIES, LP | $12.9M | 4.91% |
Western Asset Ultra-Short Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ARMLX | Class IS | 0.35% | none |
| SBAYX | Class I | 0.38% | none |
| ARMZX | Class A | 0.65% | none |
| ARMGX | Class C1 | 1.38% | none |
| LWAIX | Class C | 1.45% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.