Western Asset High Yield Fund
Data updated: 2026-09-24
C000144367 — Western Asset High Yield Fund. Intermediate Corporate Bond · $220.18M AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000144367 Fund Overview
Western Asset High Yield Fund is a US mutual fund managed by Western Asset Funds INC, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Western Asset Funds INC
- Category: Intermediate Corporate Bond
- Assets under management: $220.18M
- 1-year return: 16.5%
- SEC CIK: 0000863520
- SEC series ID: S000000716
- Share class ID: C000144367
C000144367 Investment Objective and Strategy
Western Asset High Yield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Western Asset Funds INC.
Investment objective
Maximize total return, consistent with prudent investment management.
Principal investment strategy
Under normal market conditions, the fund will invest at least 80% of its net assets in U.S. dollar denominated debt or fixed income securities that are rated below investment grade at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (NRSROs) or are of a comparable quality as determined by the subadviser. The fund considers securities that are rated below the Baa or BBB categories to be rated below investment grade. Securities rated below investment grade are commonly known as junk bonds or high yield securities. In deciding among the securities in which the fund may invest, the subadviser takes into account the credit quality, country of issue, interest rate, liquidity, maturity and yield of a security as well as other factors, including the funds effective duration and prevailing and anticipated market conditions.
Effective duration seeks to measure the expected sensitivity of market price to changes in interest rates, taking into account the anticipated effects of particular features of a security (for example, some bonds can be prepaid by the issuer.) The fund is permitted to invest up to 20% of its total assets in non-U.S. dollar denominated non-U.S. securities. The fund may also enter into various exchange-traded and over-the-counter derivative transactions for both hedging and non-hedging purposes, including for purposes of enhancing returns. These derivative transactions include, but are not limited to, bond and interest rate futures, options on bond and interest rate futures, futures, swaps, foreign currency futures, forwards and options. In particular, the fund may use interest rate swaps, credit default swaps (including buying and selling credit default swaps on individual securities and/or baskets of securities), options (including options on credit default swaps), and/or futures contracts to a significant extent, although the amounts invested in these instruments may change from time to time.
Other instruments may also be used to a significant extent from time to time. The fund may use currency related transactions involving futures contracts (sometimes referred to as futures), options on futures contracts, indexed securities and other derivative instruments (collectively, Financial Instruments). These Financial Instruments may be used without limit, for either hedging purposes, or to implement a currency investment strategy.
C000144367 Holdings
Top 10 holdings of Western Asset High Yield Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Cco Holdings LLC / Cco Holdings Capital Corp. | 1.57% |
| Pm General Purchaser LLC | 1.14% |
| First Quantum Minerals Ltd. | 1.06% |
| Michaels Companies, Inc. (the) | 1.04% |
| Mcclatchy Media Co. LLC | 1.03% |
| Venture Global Lng, Inc. | 0.89% |
| Venture Global Plaquemines Lng LLC | 0.88% |
| Nrg Energy, Inc. | 0.79% |
| Carnival Corp. Ltd. | 0.76% |
| First Quantum Minerals Ltd. | 0.72% |
C000144367 Portfolio Allocation
Asset-class allocation of Western Asset High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 81.9% |
| Securitized | 11.1% |
| Loans | 6.3% |
| Cash & Equivalents | 0.5% |
| Equity | 0.3% |
C000144367 Performance
Total returns for C000144367 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 16.5% |
C000144367 Risk Information
Risk metrics for C000144367, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.8%
C000144367 Costs and Fees
C000144367 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 1.00%
- Portfolio turnover: 64%
- Brokerage commissions: 0.06 bps of average net assets (SEC N-CEN)
C000144367 Cashflows
Over the 12 months to 2026-05, Western Asset High Yield Fund had net outflows of $2.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$517.95K |
| 2026-04 | $135.54K |
| 2026-03 | −$4.45M |
| 2026-02 | −$650.69K |
| 2026-01 | −$6.18M |
| 2025-12 | $928.84K |
C000144367 Debt Constituents
Largest debt holdings of Western Asset High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Cco Holdings LLC / Cco Holdings Capital Corp. | 1.57% |
| Pm General Purchaser LLC | 1.14% |
| First Quantum Minerals Ltd. | 1.06% |
| Michaels Companies, Inc. (the) | 1.04% |
| Mcclatchy Media Co. LLC | 1.03% |
| Venture Global Lng, Inc. | 0.89% |
| Venture Global Plaquemines Lng LLC | 0.88% |
| Nrg Energy, Inc. | 0.79% |
| Carnival Corp. Ltd. | 0.76% |
| First Quantum Minerals Ltd. | 0.72% |
C000144367 Prospectus and SEC Filings
Official Western Asset High Yield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-09-24
- Prospectus (485BPOS) — filed 2025-09-24
- Prospectus (485BPOS) — filed 2024-09-24
- Portfolio holdings (N-PORT) — filed 2026-07-22
- Portfolio holdings (N-PORT) — filed 2026-04-24
- Portfolio holdings (N-PORT) — filed 2026-01-23
- Annual census (N-CEN) — filed 2026-08-12
- Annual census (N-CEN) — filed 2025-08-08
Related Funds
Other Intermediate Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.