WARIX Fees and Costs — Western Asset Total Return Unconstrained Fund, Class FI
Data updated: 2026-09-24
The net expense ratio is 1.11%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.55% other expenses, less a 0.30% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $52K in broker commissions, 0.0611% of average net assets, and portfolio turnover was 177%.
WARIX Fees and Expenses
Annual operating expenses and sales charges of WARIX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.55% |
| Gross expense ratio | 1.41% |
| Fee waiver | −0.30% |
| Net expense ratio | 1.11% |
| 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 |
WARIX Costs Over Time
On $10,000 invested in WARIX, assuming 5% a year before costs, total costs come to $730 over 5 years, cutting the return by 1.23% 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 1.11%) | $117 | $363 | $628 |
| Trading costs (broker commissions) | $6 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $402 | $730 |
| Value after costs | $10,377 | $11,174 | $12,033 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
WARIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0611%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $665.8M
- Portfolio turnover (prospectus): 177%
- Securities lending: none during the year
WARIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ADVANTAGE SECURITIES LLC | $31K | 61.19% |
| MORGAN STANLEY & CO. LLC | $5K | 10.27% |
| CITIGROUP GLOBAL MARKETS INC. | $4K | 7.35% |
| UBS Securities LLC | $4K | 6.97% |
| GOLDMAN SACHS & CO. LLC | $2K | 3.77% |
| R.J. O'BRIEN SECURITIES, LLC | $2K | 3.12% |
| J.P. MORGAN SECURITIES LLC | $1K | 2.74% |
| JEFFERIES LLC | $998 | 1.97% |
| BOFA SECURITIES, INC. | $719 | 1.42% |
| RBC CAPITAL MARKETS, LLC | $605 | 1.20% |
WARIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $171.2M | 26.78% |
| MORGAN STANLEY & CO. LLC | $159.0M | 24.86% |
| GOLDMAN SACHS & CO. LLC | $141.4M | 22.11% |
| CitiGroup Global Markets Inc. | $69.7M | 10.90% |
| BNP PARIBAS SECURITIES CORP. | $54.8M | 8.57% |
| Wells Fargo Securities LLC | $12.0M | 1.87% |
| BMO CAPITAL MARKETS CORP. | $9.9M | 1.54% |
| BOFA SECURITIES, INC. | $9.2M | 1.44% |
| SANTANDER SECURITIES, LLC | $6.3M | 0.98% |
| PNC Capital Markets LLC | $6.0M | 0.94% |
Western Asset Total Return Unconstrained Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| WAASX | Class IS | 0.66% | none |
| WAARX | Class I | 0.76% | none |
| WAUAX | Class A | 1.08% | 3.75% |
| WARIX | Class FI | 1.11% | none |
| WAURX | Class R | 1.36% | none |
| WAUCX | Class C | 1.81% | 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.