Fund Evaluator:
Western Asset Corporate Bond A (SIGAX)
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Best Performing in Corporate Bond Over the Last Year
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Fund Details
Western Asset Corporate Bond A Overview
Western Asset Corporate Bond A (SIGAX) is an actively managed Taxable Bond Corporate Bond fund. Franklin Templeton Investments launched the fund in 1992.
The investment seeks to maximize total return, consistent with prudent investment management. Under normal circumstances, the fund invests at least 80% of its assets in corporate debt securities and at least 80% of its assets in "investment grade" debt securities. It may invest up to 25% of its assets in non-U.S. dollar denominated fixed income securities of foreign issuers. The advisor intends to invest not more than 10% of the fund's assets in non-U.S. dollar denominated fixed income securities of foreign issuers for which the fund has not implemented a currency hedge. The fund may invest in securities of any maturity or duration.
About Western Asset Corporate Bond A (SIGAX)
There are 4 members of the management team with an average tenure of 9.47 years: Ryan Brist (2010), Molly Schwartz (2024), Dan Alexander (2021), Michael Buchanan (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Credit TR USD index with a weighting of 100%. Western Asset Corporate Bond A has 617 securities in its portfolio. The top 10 holdings constitute 6.7% 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.
Western Asset Corporate Bond A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Western Asset Corporate Bond A has 21.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1%. There is 0.0% allocated to foreign stock, and 3.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.7% (75.7% domestic bond, 21.0% foreign bond and 0.1% convertible bond). Western Asset Corporate Bond A has -0.6% of the portfolio in cash.
Assets Under Management
The fund has $228 million in total assets, which is below the $720 million average for the Corporate Bond 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.
SIGAX 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 Western Asset Corporate Bond A expense ratio is high compared to funds in the Corporate Bond category. Western Asset Corporate Bond A has an expense ratio of 0.90%, which is 24% 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. Western Asset Corporate Bond A has a portfolio turnover rate of 136%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 119% for the Corporate Bond category.
Recently, in the month of August 2026, Western Asset Corporate Bond A returned 0.4%, which earned it a grade of C, as the Corporate Bond category had an average return of 0.4%. 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.
Western Asset Corporate Bond A has a trailing yield of 4.95%, which is above the 4.40% category average. The fund normally distributes its income monthly 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.
Western Asset Corporate Bond A Grades
Year to date, the fund has returned -0.3%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 1.9% over the past year (grade of B), 5.1% over the past three years (grade of C) and -0.6% per year over the past five years (grade of D) and 2.3% per year over the past 10 years (grade of C).
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SIGAX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SIGAX Return (NAV) | 0.4% | -1.2% | 1.9% | 5.1% | -0.6% | 2.3% |
| SIGAX Grade | C | D | B | C | D | C |
| +/- Category | 0.1% | -0.1% | 0.3% | 0.2% | -0.4% | 0.0% |
| Corporate Bond Avg | 0.4% | -1.1% | 1.6% | 4.9% | -0.2% | 2.2% |
| SIGAX Tax Cost Ratio | na | na | 1.9% | 2.0% | 1.8% | 1.7% |
SIGAX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SIGAX Return (NAV) | -0.3% | 8.1% | 2.0% | 7.4% | -16.8% | -0.7% | 10.8% | 14.4% | -3.7% | 7.2% | 8.0% |
| SIGAX Grade | B | A | F | F | F | B | B | C | D | A | B |
| +/- Category | 0.2% | 0.7% | -0.7% | -0.8% | -1.1% | 0.3% | 0.7% | 0.5% | -0.8% | 0.9% | 1.1% |
| Corporate Bond Avg | -0.5% | 7.4% | 2.7% | 8.2% | -15.7% | -1.0% | 10.1% | 13.9% | -2.9% | 6.3% | 6.9% |
| Risk Measures | |
| Standard Deviation: | 6.6% |
| Total Risk Index: | 0.54 - Below Average |
| Category Risk Index: | 1.08 - High |
| Category Risk Grade: | F (99% Rank) |
| Beta: | 1.15 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $480 Mil |
| Fund Total Assets: | $ 228 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 136% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 16.4 years | |||
| Average Tenure: 9.5 years | |||
| Managers (Year): Brist Ryan (2010), Buchanan Michael (2012), Alexander Dan (2021), Schwartz Molly (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 617 |
| % in Top 10 Holdings: | 6.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 3.7% |
| Domestic Bond: | 75.7% |
| Foreign Bond: | 21.0% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | -0.6% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 877-656-3863 |
| Website: | www.leggmason.com |
| Status: | Open |
| Inception Date: | November 6, 1992 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 3.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | Western Asset Corporate Bond A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
