ITCAX Fees and Costs — Western Asset Intermediate Maturity California Municipals Fund, Class A
Data updated: 2026-07-22
The net expense ratio is 0.91%: a 0.40% management fee, a 0.15% 12b-1 fee plus 0.51% other expenses, less a 0.15% fee waiver. This share class carries a maximum front-end sales load of 2.25%. In fiscal 2025 the fund paid $182 in broker commissions, 0.0002% of average net assets, and portfolio turnover was 6%.
ITCAX Fees and Expenses
Annual operating expenses and sales charges of ITCAX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.51% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.91% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| 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 |
ITCAX Costs Over Time
On $10,000 invested in ITCAX, assuming 5% a year before costs, total costs come to $845 over 5 years, cutting the return by 1.43% 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 |
| Sales charges | $225 | $225 | $225 |
| Fund expenses (net expense ratio 0.91%) | $93 | $292 | $506 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $11 | $50 | $113 |
| Total costs | $330 | $567 | $845 |
| Value after costs | $10,170 | $11,010 | $11,918 |
| Impact on return, per year | 3.30% | 1.74% | 1.43% |
ITCAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $182
- Bought from dealers (principal trades, not a cost): $35.4M
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
ITCAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $67 | 37.14% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $52 | 28.57% |
| GOLDMAN SACHS & CO. LLC | $24 | 13.33% |
| R.J. O'Brien Securities, LLC | $21 | 11.43% |
| J.P. MORGAN SECURITIES LLC | $17 | 9.52% |
ITCAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11.0M | 32.09% |
| TD SECURITIES (USA) LLC | $6.3M | 18.29% |
| MORGAN STANLEY & CO. LLC | $5.7M | 16.51% |
| WELLS FARGO SECURITIES, LLC | $3.6M | 10.57% |
| TRADEWEB DIRECT LLC | $2.0M | 5.70% |
| PIPER SANDLER & CO. | $1.7M | 4.84% |
| GOLDMAN SACHS & CO. LLC | $1.4M | 4.19% |
| BOFA SECURITIES, INC. | $1.2M | 3.56% |
| D.A. DAVIDSON & CO. | $1.1M | 3.09% |
| JEFFERIES LLC | $400K | 1.17% |
Western Asset Intermediate Maturity California Municipals Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SICMX | C000187791 | 0.63% | none |
| SICYX | Class I | 0.66% | none |
| ITCAX | Class A | 0.91% | 2.25% |
| SIMLX | Class C | 1.51% | 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.