SMLSX Performance — Western Asset Intermediate-Term Municipals Fund, Class IS
Data updated: 2026-08-27
SMLSX returned +2.08% year to date and +6.32% over one year to Jun 2026. Annualised returns are +3.99% over 3 years and +1.40% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $112, against $111 for the category, and to $106 over one year, against $106. Volatility over the past three years was 4.63% a year. In the 12 months to Jun 2026 the fund lost a net $669.4M, and assets reached $1.15B.
SMLSX Growth of $100
What $100 invested in Western Asset Intermediate-Term Municipals Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | SMLSX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $106 | $106 |
| 3 years (Jul 2023 – Jun 2026) | $112 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $107 | $105 |
| Since data start (Jul 2019 – Jun 2026) | $116 | $112 |
SMLSX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.08% |
| 1 year | +6.32% |
| 3 years (annualised) | +3.99% |
| 5 years (annualised) | +1.40% |
SMLSX Annual Returns
Calendar-year total returns of Western Asset Intermediate-Term Municipals Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.08% |
| 2025 | +4.36% |
| 2024 | +2.15% |
| 2023 | +5.96% |
| 2022 | −7.34% |
| 2021 | +2.74% |
| 2020 | +4.02% |
| 2019 (Jul–Dec) | +1.99% |
SMLSX 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 | +1.0% | +1.1% | −2.0% | +1.0% | +0.5% | +0.6% | — | — | — | — | — | — |
| 2025 | +0.4% | +1.3% | −1.5% | −0.7% | 0.0% | +0.8% | −0.4% | +1.0% | +2.1% | +0.8% | +0.3% | +0.3% |
| 2024 | +0.1% | +0.1% | +0.1% | −1.1% | +0.1% | +1.6% | +0.8% | +0.8% | +0.9% | −1.3% | +1.3% | −1.2% |
| 2023 | +2.6% | −1.9% | +1.8% | +0.2% | −0.6% | +0.4% | +0.3% | −0.9% | −2.1% | −1.1% | +5.0% | +2.3% |
| 2022 | −2.3% | −0.5% | −2.5% | −2.2% | +1.0% | −1.3% | +2.0% | −1.7% | −2.9% | −0.8% | +3.7% | +0.1% |
| 2021 | +1.1% | −1.5% | +0.7% | +1.1% | +0.5% | +0.5% | +0.6% | −0.3% | −0.7% | −0.3% | +0.8% | +0.2% |
| 2020 | +1.8% | +1.1% | −6.0% | −1.8% | +3.2% | +1.8% | +1.7% | +0.1% | −0.2% | −0.1% | +1.6% | +1.1% |
| 2019 | — | — | — | — | — | — | +0.7% | +1.4% | −0.7% | +0.1% | +0.1% | +0.4% |
SMLSX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 4.63%
- 3-year Sharpe ratio: -0.11 (vs 4.5% risk-free rate)
- Best month: +5.01% (Nov 2023)
- Worst month: −2.10% (Sep 2023)
SMLSX Fund Flows
Monthly money in and out of Western Asset Intermediate-Term Municipals Fund, from SEC Form N-PORT.
- 12-month net flow: −$669.4M
- 12-month gross sales (incl. reinvestments): $264.2M
- Sales ÷ redemptions: 0.28×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $11.4M | $18.3M | −$6.9M |
| May 2026 | $13.7M | $19.1M | −$5.3M |
| Apr 2026 | $12.0M | $22.9M | −$10.9M |
| Mar 2026 | $13.6M | $35.4M | −$21.9M |
| Feb 2026 | $21.6M | $531.1M | −$509.5M |
| Jan 2026 | $23.6M | $30.2M | −$6.6M |
| Dec 2025 | $32.1M | $42.8M | −$10.8M |
| Nov 2025 | $19.9M | $44.5M | −$24.6M |
| Oct 2025 | $25.9M | $41.8M | −$15.9M |
| Sep 2025 | $21.8M | $52.3M | −$30.5M |
| Aug 2025 | $43.1M | $44.4M | −$1.3M |
| Jul 2025 | $25.7M | $50.8M | −$25.1M |
SMLSX Assets Under Management
Net assets of Western Asset Intermediate-Term Municipals Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.15B |
| 2026-03-31 | $1.16B |
| 2025-12-31 | $1.70B |
| 2025-09-30 | $1.74B |
| 2025-06-30 | $1.77B |
| 2025-03-31 | $1.88B |
| 2024-12-31 | $2.26B |
| 2024-09-30 | $2.34B |
| 2024-06-28 | $2.30B |
| 2024-03-28 | $2.48B |
| 2023-12-29 | $2.57B |
| 2023-09-29 | $2.38B |
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.