Fund Evaluator:

Western Asset Interm Maturity NY Muni C Overview

Western Asset Interm Maturity NY Muni C (SINLX) is an actively managed Municipal Bond Muni New York Intermediate fund. Franklin Templeton Investments launched the fund in 2002.

The investment seeks to provide New York investors with as high a level of current income exempt from federal income tax and New York State and New York City personal income taxes as is consistent with the preservation of principal. Under normal circumstances, the fund invests at least 80% of its assets in investment grade "New York municipal securities" or other investments with similar economic characteristics. It may invest up to 20% of its assets in unrated securities that the subadviser determines to be equivalent to investment grade. The fund is non-diversified.

About Western Asset Interm Maturity NY Muni C (SINLX)

There are 5 members of the management team with an average tenure of 9.95 years: Ryan Brist (2024), John Mooney (2023), David Fare (2004), Michael Buchanan (2024), Robert Amodeo (2006). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg MuniCPL MFNY Intermedt TR USD index with a weighting of 100%. Western Asset Interm Maturity NY Muni C has 97 securities in its portfolio. The top 10 holdings constitute 34.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Western Asset Interm Maturity NY Muni C is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Western Asset Interm Maturity NY Muni C has 3.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.0% (96.2% domestic bond, 3.8% foreign bond and 0.0% convertible bond). Western Asset Interm Maturity NY Muni C has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $1 million in total assets, which is below the $106 million average for the Muni New York Intermediate 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.

SINLX 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 Interm Maturity NY Muni C expense ratio is high compared to funds in the Muni New York Intermediate category. Western Asset Interm Maturity NY Muni C has an expense ratio of 1.39%, which is 81% higher than its category average, making the fund expense ratio grade a F. 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 Interm Maturity NY Muni C has a portfolio turnover rate of 8%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 19% for the Muni New York Intermediate category.

Recently, in the month of June 2026, Western Asset Interm Maturity NY Muni C returned 0.5%, which earned it a grade of F, as the Muni New York Intermediate category had an average return of 0.7%. 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 Interm Maturity NY Muni C has a trailing yield of 2.12%, which is below the 2.87% 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 Interm Maturity NY Muni C Grades

Year to date, the fund has returned 1.6%, 0.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.7% over the past year (grade of F), 2.5% over the past three years (grade of F) and 0.1% per year over the past five years (grade of F) and 0.9% per year over the past 10 years (grade of F).

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