SMALX — Western Asset Massachusetts Municipals Fund
Data updated: 2026-07-22
SMALX — Western Asset Massachusetts Municipals Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Long Municipal - National Bond · $29.18M AUM · 1.30% expense ratio · 7.3% 1-yr return. From SEC regulatory filings.
SMALX Fund Overview
SMALX — Western Asset Massachusetts Municipals Fund is a US mutual fund managed by Legg Mason Partners Income Trust, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Legg Mason Partners Income Trust
- Category: Long Municipal - National Bond
- Assets under management: $29.18M
- 1-year return: 7.3%
- Ticker: SMALX
- SEC CIK: 0000764624
- SEC series ID: S000016629
- Share class ID: C000046433
SMALX Holdings
Top 10 holdings of Western Asset Massachusetts Municipals Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Massachusetts Development Finance Agency (ma) | 6.48% |
| Massachusetts Development Finance Agency (ma) | 6.17% |
| Massachusetts Development Finance Agency (ma) | 5.49% |
| Massachusetts Development Finance Agency (ma) | 5.05% |
| Massachusetts Development Finance Agency (ma) | 4.71% |
| Plymouth (ma), City Of | 4.67% |
| Massachusetts Development Finance Agency (ma) | 4.55% |
| Massachusetts Port Authority (ma) | 4.39% |
| Massachusetts (ma), Commonwealth Of | 4.02% |
| Massachusetts Bay Transportation Authority (ma) | 3.63% |
SMALX Portfolio Allocation
Asset-class allocation of Western Asset Massachusetts Municipals Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.8% |
SMALX Performance
Total returns for SMALX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.8% |
| 1 year | 7.3% |
| 3 years (annualised) | 2.8% |
| 5 years (annualised) | -0.4% |
SMALX Risk Information
Risk metrics for SMALX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.2%
SMALX Costs and Fees
SMALX costs about $130 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.30%
- Gross expense ratio: 1.74%
- Portfolio turnover: 10%
- Brokerage commissions: 0.02 bps of average net assets (SEC N-CEN)
SMALX Cashflows
Over the 12 months to 2026-02, Western Asset Massachusetts Municipals Fund had net outflows of $13.03M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-02 | $145.14K |
| 2026-01 | $498.06K |
| 2025-12 | −$4.79M |
| 2025-11 | $330.29K |
| 2025-10 | −$524.55K |
| 2025-09 | −$820.76K |
SMALX Debt Constituents
Largest debt holdings of Western Asset Massachusetts Municipals Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Massachusetts Development Finance Agency (ma) | 6.48% |
| Massachusetts Development Finance Agency (ma) | 6.17% |
| Massachusetts Development Finance Agency (ma) | 5.49% |
| Massachusetts Development Finance Agency (ma) | 5.05% |
| Massachusetts Development Finance Agency (ma) | 4.71% |
| Plymouth (ma), City Of | 4.67% |
| Massachusetts Development Finance Agency (ma) | 4.55% |
| Massachusetts Port Authority (ma) | 4.39% |
| Massachusetts (ma), Commonwealth Of | 4.02% |
| Massachusetts Bay Transportation Authority (ma) | 3.63% |
SMALX Prospectus and SEC Filings
Official Western Asset Massachusetts Municipals Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Long Municipal - National 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.