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If you have been looking for Investment Grade Bond - Intermediate fund category, a potential starting could be Western Asset Global Strategy Income I (SDSYX). SDSYX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.
Objective
We note that SDSYX is an Investment Grade Bond - Intermediate option, which is a segment loaded with many different investment options. By targeting bonds that mature in more than three years but less than 15 years, Investment Grade Bond - Intermediate funds are a middle of the curve option. Fixed income instruments at this maturity level usually have medium duration risk, but their yields are respectable, especially in comparison to their short-maturity counterparts. Additionally, a focus on investment grade makes these funds safer, but yields tend to be lower than in the junk bond category.
History of Fund/Manager
Franklin is based in San Mateo, CA, and is the manager of SDSYX. Western Asset Global Strategy Income I debuted in October of 1995. Since then, SDSYX has accumulated assets of about $540.81 million, according to the most recently available information. A team of investment professionals is the fund's current manager.
Performance
Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 1.83%, and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 0.45%, which places it in the bottom third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 12.65%, the standard deviation of SDSYX over the past three years is 7.2%. The fund's standard deviation over the past 5 years is 8.98% compared to the category average of 13.65%. This makes the fund less volatile than its peers over the past half-decade.
With a beta of 0.51, this fund is less volatile than a broad market index of fixed income securities. Taking this into account, SDSYX has a positive alpha of 2, which measures performance on a risk-adjusted basis.