LMBSX Fees and Costs — Western Asset Mortgage Total Return Fund, Class IS
Data updated: 2026-08-26
The net expense ratio is 0.58%: a 0.50% management fee plus 0.08% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $14K in broker commissions, 0.0038% of average net assets, and portfolio turnover was 198%.
LMBSX Fees and Expenses
Annual operating expenses and sales charges of LMBSX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.58% |
| Fee waiver | — |
| Net expense ratio | 0.58% |
| 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 |
LMBSX Costs Over Time
On $10,000 invested in LMBSX, assuming 5% a year before costs, total costs come to $368 over 5 years, cutting the return by 0.61% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $9 | $34 |
| Total costs | $61 | $202 | $368 |
| Value after costs | $10,439 | $11,375 | $12,395 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
LMBSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0038%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $4.1B
- Portfolio turnover (prospectus): 198%
- Securities lending: none during the year
LMBSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $8K | 56.78% |
| GOLDMAN SACHS & CO. LLC | $1K | 8.95% |
| UBS Securities LLC | $1K | 7.59% |
| BOFA SECURITIES, INC. | $804 | 6.07% |
| R.J. O'Brien Securities, LLC | $754 | 5.69% |
| WELLS FARGO SECURITIES, LLC | $571 | 4.31% |
| J.P. Morgan Securities LLC | $531 | 4.01% |
| RBC CAPITAL MARKETS, LLC | $318 | 2.40% |
| BARCLAYS CAPITAL, INC. | $296 | 2.23% |
| MORGAN STANLEY & CO. LLC | $261 | 1.97% |
LMBSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $1.2B | 30.29% |
| MORGAN STANLEY & CO. LLC | $1.1B | 27.85% |
| J.P. Morgan Securities LLC | $1.1B | 26.14% |
| CitiGroup Global Markets Inc. | $269.6M | 6.65% |
| BNP PARIBAS SECURITIES CORP. | $252.0M | 6.21% |
| BOFA SECURITIES, INC. | $53.4M | 1.32% |
| WELLS FARGO SECURITIES, LLC | $34.6M | 0.85% |
| STONEX FINANCIAL INC. | $12.0M | 0.30% |
| Daiwa Capital Markets America, Inc. | $9.2M | 0.23% |
| Performance Trust Capital Partners LLC | $6.8M | 0.17% |
Western Asset Mortgage Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LMBSX | Class IS | 0.58% | none |
| SGSYX | Class I | 0.65% | none |
| SGVSX | Class 1 | 0.72% | none |
| SGVAX | Class A | 0.98% | 3.75% |
| LWMSX | Class C | 1.65% | none |
| SGSLX | Class C1 | 1.75% | 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.