SHDSX Performance — Western Asset Short Duration Municipal Income Fund, Class IS
Data updated: 2026-07-22
SHDSX returned +0.78% year to date and +4.07% over one year to May 2026. Annualised returns are +3.68% over 3 years and +1.69% over 5 years. The fund beat its Short-Term Municipal Bond category average: $100 invested three years ago grew to $111, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 2.15% a year. In the 12 months to May 2026 the fund lost a net $41.8M, and assets reached $274.92M.
SHDSX Growth of $100
What $100 invested in Western Asset Short Duration Municipal Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | SHDSX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $104 | $104 |
| 3 years (Jun 2023 – May 2026) | $111 | $111 |
| 5 years (Jun 2021 – May 2026) | $109 | $108 |
| Since data start (Sep 2019 – May 2026) | $112 | $112 |
SHDSX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.78% |
| 1 year | +4.07% |
| 3 years (annualised) | +3.68% |
| 5 years (annualised) | +1.69% |
SHDSX Annual Returns
Calendar-year total returns of Western Asset Short Duration Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.78% |
| 2025 | +4.61% |
| 2024 | +2.44% |
| 2023 | +3.84% |
| 2022 | −3.11% |
| 2021 | +0.41% |
| 2020 | +2.79% |
| 2019 (Sep–Dec) | +0.24% |
SHDSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.6% | +0.6% | −0.9% | +0.2% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.6% | +0.6% | −0.4% | −0.2% | +0.6% | +0.8% | +0.6% | +0.6% | +0.4% | 0.0% | +0.2% | +0.4% |
| 2024 | 0.0% | +0.2% | 0.0% | −0.4% | 0.0% | +0.8% | +0.8% | +0.8% | +0.6% | −0.6% | +0.6% | −0.4% |
| 2023 | +1.2% | −1.1% | +1.2% | −0.2% | −0.4% | +0.6% | +0.2% | 0.0% | −1.0% | 0.0% | +2.5% | +1.0% |
| 2022 | −1.3% | −0.5% | −1.3% | −0.9% | +0.9% | −0.3% | +0.9% | −1.1% | −1.3% | −0.3% | +1.8% | +0.2% |
| 2021 | +0.3% | −0.5% | +0.1% | +0.3% | +0.1% | +0.1% | +0.3% | −0.1% | −0.3% | −0.1% | +0.3% | −0.1% |
| 2020 | +0.7% | +0.5% | −2.5% | −0.2% | +1.5% | +0.9% | +0.9% | +0.1% | +0.1% | −0.1% | +0.5% | +0.3% |
| 2019 | — | — | — | — | — | — | — | — | −0.4% | +0.4% | +0.1% | +0.2% |
SHDSX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 2.15%
- 3-year Sharpe ratio: -0.38 (vs 4.5% risk-free rate)
- Best month: +2.46% (Nov 2023)
- Worst month: −1.03% (Sep 2023)
SHDSX Fund Flows
Monthly money in and out of Western Asset Short Duration Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$41.8M
- 12-month gross sales (incl. reinvestments): $35.4M
- Sales ÷ redemptions: 0.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $3.5M | $14.0M | −$10.5M |
| Apr 2026 | $3.5M | $4.0M | −$474K |
| Mar 2026 | $3.3M | $5.5M | −$2.2M |
| Feb 2026 | $2.9M | $6.0M | −$3.1M |
| Jan 2026 | $2.2M | $4.5M | −$2.2M |
| Dec 2025 | $4.6M | $7.8M | −$3.2M |
| Nov 2025 | $1.9M | $6.1M | −$4.2M |
| Oct 2025 | $4.1M | $3.3M | $757K |
| Sep 2025 | $1.9M | $5.7M | −$3.9M |
| Aug 2025 | $1.9M | $6.5M | −$4.5M |
| Jul 2025 | $2.6M | $7.3M | −$4.7M |
| Jun 2025 | $3.0M | $6.6M | −$3.6M |
SHDSX Assets Under Management
Net assets of Western Asset Short Duration Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $274.92M |
| 2026-02-27 | $291.26M |
| 2025-11-28 | $297.10M |
| 2025-08-29 | $304.26M |
| 2025-05-30 | $312.83M |
| 2025-02-28 | $323.27M |
| 2024-11-29 | $334.98M |
| 2024-08-30 | $356.82M |
| 2024-05-31 | $370.03M |
| 2024-02-29 | $397.77M |
| 2023-11-30 | $427.41M |
| 2023-08-31 | $450.19M |
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.