LHISX Fees and Costs — Western Asset Massachusetts Municipals Fund
Data updated: 2026-07-22
The net expense ratio is 0.52%: a 0.45% management fee plus 0.48% other expenses, less a 0.41% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $73 in broker commissions, 0.0002% of average net assets, and portfolio turnover was 10%.
LHISX Fees and Expenses
Annual operating expenses and sales charges of LHISX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.48% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.41% |
| Net expense ratio | 0.52% |
| 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 |
LHISX Costs Over Time
On $10,000 invested in LHISX, assuming 5% a year before costs, total costs come to $329 over 5 years, cutting the return by 0.55% 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 0.52%) | $55 | $171 | $298 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $329 |
| Value after costs | $10,445 | $11,397 | $12,434 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
LHISX 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: $73
- Bought from dealers (principal trades, not a cost): $29.3M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
LHISX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $31 | 42.86% |
| MORGAN STANLEY & CO. LLC | $24 | 33.33% |
| BNP PARIBAS SECURITIES CORP. | $17 | 23.81% |
LHISX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $4.2M | 19.91% |
| TD SECURITIES (USA) LLC | $3.3M | 15.35% |
| PERSHING LLC | $2.7M | 12.86% |
| Wells Fargo Securities LLC | $2.7M | 12.45% |
| MORGAN STANLEY & CO. LLC | $2.1M | 9.94% |
| BOFA SECURITIES, INC. | $1.4M | 6.63% |
| OPPENHEIMER & CO. INC. | $1.3M | 5.88% |
| Icecapital Securities Ltd | $1.2M | 5.74% |
| JANNEY MONTGOMERY SCOTT LLC | $1.2M | 5.67% |
| BARCLAYS CAPITAL, INC. | $1.2M | 5.57% |
Western Asset Massachusetts 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 |
|---|---|---|---|
| LHISX | C000187790 | 0.52% | none |
| LHMIX | Class I | 0.55% | none |
| SLMMX | Class A | 0.75% | 3.75% |
| SMALX | Class C | 1.30% | 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.