Fund Evaluator:
ClearBridge Tactical Dividend Income I (LADIX)
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Fund Details
ClearBridge Tactical Dividend Income I Overview
ClearBridge Tactical Dividend Income I (LADIX) is an actively managed U.S. Equity Large Value fund. Franklin Templeton Investments launched the fund in 2008.
The investment seeks to generate high current income, with capital appreciation as a secondary objective. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, if any, in equity and equity-related securities that provide investment income, dividend payments or other distributions or in other investments with similar economic characteristics. The fund may invest in equity and equity-related securities of issuers with any market capitalization.
About ClearBridge Tactical Dividend Income I (LADIX)
There are 2 members of the management team with an average tenure of 9.28 years: Peter Vanderlee (2012), Patrick McElroy (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and DJ US Select Dividend TR USD index with a weighting of 100%. ClearBridge Tactical Dividend Income I has 84 securities in its portfolio. The top 10 holdings constitute 24.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
ClearBridge Tactical Dividend Income I is part of the Equity global asset class and is within the U.S. Equity fund group. ClearBridge Tactical Dividend Income I has 5.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.4%. There is 5.3% allocated to foreign stock, and 4.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ClearBridge Tactical Dividend Income I has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $82 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LADIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ClearBridge Tactical Dividend Income I expense ratio is high compared to funds in the Large Value category. ClearBridge Tactical Dividend Income I has an expense ratio of 1.13%, which is 22% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ClearBridge Tactical Dividend Income I has a portfolio turnover rate of 79%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, ClearBridge Tactical Dividend Income I returned 0.9%, which earned it a grade of F, as the Large Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
ClearBridge Tactical Dividend Income I has a trailing yield of 3.02%, which is above the 1.20% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ClearBridge Tactical Dividend Income I Grades
Year to date, the fund has returned 10.0%, 4.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.1% over the past year (grade of F), 13.4% over the past three years (grade of D) and 9.6% per year over the past five years (grade of D) and 9.5% per year over the past 10 years (grade of F).
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LADIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LADIX Return (NAV) | 0.9% | 3.0% | 14.1% | 13.4% | 9.6% | 9.5% |
| LADIX Grade | F | F | F | D | D | F |
| +/- Category | -2.0% | -3.2% | -9.8% | -2.2% | -1.2% | -1.8% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| LADIX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.6% | 1.6% |
LADIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LADIX Return (NAV) | 10.0% | 4.4% | 19.8% | 19.7% | -10.1% | 26.1% | 0.5% | 31.3% | -5.8% | 7.0% | 11.8% |
| LADIX Grade | D | F | A | A | F | C | D | A | B | F | D |
| +/- Category | -4.3% | -10.7% | 5.7% | 7.8% | -4.1% | 0.3% | -3.3% | 5.7% | 2.7% | -9.4% | -2.7% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 10.6% |
| Total Risk Index: | 0.87 - Average |
| Category Risk Index: | 0.88 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 0.71 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $366 Mil |
| Fund Total Assets: | $ 83 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 79% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.6 years | |||
| Average Tenure: 9.3 years | |||
| Managers (Year): Vanderlee Peter (2012), McElroy Patrick (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 24.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.3% |
Portfolio Allocation |
|
| Domestic Stock: | 89.4% |
| Foreign Stock: | 5.3% |
| Preferred Stock: | 4.3% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 877-656-3863 |
| Website: | http://www.leggmason.com/ |
| Status: | Open |
| Inception Date: | May 16, 2008 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $1,000,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.13% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | ClearBridge Tactical Dividend Income A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
