SNIPX Fees and Costs — Western Asset New York Municipals Fund
Data updated: 2026-08-27
The net expense ratio is 0.60%: a 0.45% management fee plus 0.18% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $138 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 6%.
SNIPX Fees and Expenses
Annual operating expenses and sales charges of SNIPX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.60% |
| 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 |
SNIPX Costs Over Time
On $10,000 invested in SNIPX, assuming 5% a year before costs, total costs come to $378 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $378 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
SNIPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $138
- Bought from dealers (principal trades, not a cost): $99.1M
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
SNIPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $138 | 100.00% |
SNIPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $14.6M | 17.64% |
| JEFFERIES LLC | $12.6M | 15.19% |
| BARCLAYS CAPITAL, INC. | $10.7M | 12.91% |
| Wells Fargo Securities LLC | $8.2M | 9.93% |
| BOFA SECURITIES, INC. | $7.8M | 9.46% |
| MORGAN STANLEY & CO. LLC | $6.8M | 8.19% |
| Icecapital Securities Ltd | $6.7M | 8.07% |
| PERSHING LLC | $5.5M | 6.69% |
| J.P. Morgan Securities LLC | $5.0M | 6.04% |
| GOLDMAN SACHS & CO. LLC | $4.9M | 5.88% |
Western Asset New York 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 |
|---|---|---|---|
| SNIPX | C000193929 | 0.60% | none |
| SNPYX | Class I | 0.63% | none |
| SBNYX | Class A | 0.85% | 3.75% |
| SBYLX | Class C | 1.40% | 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.