Skip to content

ARMZX

Western Asset Ultra-Short Income Fund

As of 09/11/2026

NAV 1

$9.25

$0.00 (0.00%)
 

POP 2

$9.25

 
 

YTD Total Return At NAV 3

2.69%

 
As of 08/31/2026

Morningstar Overall Rating™ 4

Ultrashort Bond

Overview

Western Asset logo

Fund Description

  • Seeks current income and capital preservation while maintaining liquidity
  • A primarily investment grade portfolio with the majority of investments in investment grade U.S. dollar denominated short-term debt instruments
  • Designed to be less sensitive to interest rate volatility by normally maintaining a dollar weighted average effective duration of less than or equal to one year

Meet Your Manager

Western Asset

Western Asset Management is one of the world's leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.

Fund Information
Asset Class 
Fixed Income
Share Class Inception Date 
04/18/1997
Fund Inception Date 
06/22/1992
Benchmark 
ICE BofA 3-Month U.S. Treasury Bill
Additional Benchmark 
FTSE 6 Month U.S. Treasury Bill Index
Investment Style 
Multi-Sector
Lipper Classification 
Short Investment Grade Debt Funds
Morningstar Category5 
Ultrashort Bond
Total Net Assets  As of 08/31/2026 (Updated Monthly)
$507.64 Million
Dividends & Yields
Dividend Frequency, if any 
Monthly
Distribution Rate at NAV6  As of 09/11/2026 (Updated Daily)
4.04%
30-Day SEC Yield—With Waiver7, 8, 9  As of 08/31/2026 (Updated Monthly)
4.01%
30-Day SEC Yield—Without Waiver8, 9  As of 08/31/2026 (Updated Monthly)
3.98%
Sales Charges, Expenses & Fees
As of 10/01/2025
Gross Expense Ratio 
0.71%
Net Expense Ratio10 
0.65%
Maximum Initial Charge 
-
CDSC 
N/A
Identifiers
Fund Number 
7579
Ticker 
ARMZX
CUSIP Code 
52468A608

Performance

Portfolio

Portfolio Holdings

Holdings

As of 08/31/2026 Updated Monthly
Security Name 
US TREASURY NOTE 4.0000% Mat 07/31/2032
Weight (%) 
3.04
Market Value ($) 
15,299,341
Quantity 
15,750,000
Security Name 
WA Premier Institutional Gover
Weight (%) 
2.48
Market Value ($) 
12,518,521
Quantity 
12,518,521
Security Name 
UNITED STATES TREASURY NOTE/BO 3.7500% Mat 08/15/2027
Weight (%) 
2.44
Market Value ($) 
12,275,990
Quantity 
12,330,000
Security Name 
US TREASURY BILL
Weight (%) 
1.72
Market Value ($) 
8,645,013
Quantity 
8,710,000
Security Name 
ING BANK NV -- INGADC CP 0.0000% Mat 02/01/2027
Weight (%) 
0.97
Market Value ($) 
4,912,591
Quantity 
5,000,000
Security Name 
AUSTRALIA + NEW ZEALAND 0.0 23 0.0000% Mat 02/23/2027
Weight (%) 
0.97
Market Value ($) 
4,900,951
Quantity 
5,000,000
Security Name 
CITIGROUP INC 4.6430% Mat 05/07/2028
Weight (%) 
0.95
Market Value ($) 
4,780,784
Quantity 
4,780,000
Security Name 
WELLS FARGO & COMPANY 5.7070% Mat 04/22/2028
Weight (%) 
0.88
Market Value ($) 
4,451,090
Quantity 
4,420,000
Security Name 
Federal Home Loan Bank (FHLB)
Weight (%) 
0.85
Market Value ($) 
4,283,734
Quantity 
4,350,000
Security Name 
MARS INC 4.6000% Mat 03/01/2028
Weight (%) 
0.84
Market Value ($) 
4,229,244
Quantity 
4,230,000

Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.

Distributions & Tax

Distributions

Distribution Schedules

Dividend Frequency, if any This fund is an Accrual fund.
Monthly
Capital Gain Distributions 
December

Rates and Yields

Read important information about results and other investment disclosures
Distribution Rate
As of 09/11/2026
At Net Asset Value (NAV) 
4.04%
30-Day SEC Yield
As of 08/31/2026
w/ Waiver 
4.01%
w/o Waiver 
3.98%

Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.

Distributions Per Share

Current Year Distributions Per Share
Distributions with future dates are estimates and those figures are not final
Record Date  
08/31/2026
Ex-Dividend Date  
08/31/2026
Reinvestment Date  
08/31/2026
Payable Date  
08/31/2026
Reinvestment Amount  
$9.26
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.02950966
Total Distribution Per Share  
$0.02950966
Record Date  
07/31/2026
Ex-Dividend Date  
07/31/2026
Reinvestment Date  
07/31/2026
Payable Date  
07/31/2026
Reinvestment Amount  
$9.26
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.03361177
Total Distribution Per Share  
$0.03361177
Record Date  
06/30/2026
Ex-Dividend Date  
06/30/2026
Reinvestment Date  
06/30/2026
Payable Date  
06/30/2026
Reinvestment Amount  
$9.26
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.03018478
Total Distribution Per Share  
$0.03018478
Record Date  
05/29/2026
Ex-Dividend Date  
05/29/2026
Reinvestment Date  
05/29/2026
Payable Date  
05/31/2026
Reinvestment Amount  
$9.27
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.03105404
Total Distribution Per Share  
$0.03105404
Record Date  
04/30/2026
Ex-Dividend Date  
04/30/2026
Reinvestment Date  
04/30/2026
Payable Date  
04/30/2026
Reinvestment Amount  
$9.26
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.03057114
Total Distribution Per Share  
$0.03057114
Record Date  
03/31/2026
Ex-Dividend Date  
03/31/2026
Reinvestment Date  
03/31/2026
Payable Date  
03/31/2026
Reinvestment Amount  
$9.25
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.02954347
Total Distribution Per Share  
$0.02954347
Record Date  
02/27/2026
Ex-Dividend Date  
02/27/2026
Reinvestment Date  
02/27/2026
Payable Date  
02/28/2026
Reinvestment Amount  
$9.27
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.02748475
Total Distribution Per Share  
$0.02748475
Record Date  
01/30/2026
Ex-Dividend Date  
01/30/2026
Reinvestment Date  
01/30/2026
Payable Date  
01/31/2026
Reinvestment Amount  
$9.27
Long-Term Capital Gains  
—
Short-Term Capital Gains  
—
Income  
$0.02980791
Total Distribution Per Share  
$0.02980791

Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.

The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.

Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.

Tax Information

Tax Information

Federal ID Number 133671575
For information on tax years prior to 2008, please contact us
These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Record Date  
Jan 31
Ordinary Dividends  
0.028934249
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Feb 28
Ordinary Dividends  
0.025804999
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Mar 31
Ordinary Dividends  
0.026483029
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Apr 30
Ordinary Dividends  
0.027412128
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
May 30
Ordinary Dividends  
0.030207218
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Jun 30
Ordinary Dividends  
0.027918799
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Jul 31
Ordinary Dividends  
0.030347202
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Aug 29
Ordinary Dividends  
0.030964957
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Sep 30
Ordinary Dividends  
0.027778348
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Oct 31
Ordinary Dividends  
0.032028628
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Nov 28
Ordinary Dividends  
0.026566594
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Dec 31
Ordinary Dividends  
0.031210882
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Record Date  
Ordinary Dividends  
0.345657033
Qualified Dividends  
—
Capital Gain Distributions  
—
Unrecaptured Section 1250 Gain  
—
Non-Taxable Return Of Capital  
—
Section 199a Dividends  
—
Foreign Tax Paid  
—
Exempt Interest Dividends  
—
Interest on Tax Reclaim Refunds  
—
Supplemental Tax Information
Foreign Source Income 
—
Foreign Source Qualified Dividends 
—
Direct U.S. Government Obligations 
3.82%
Specified Private Activity Bond Interest 
—
Dividends Received Deduction 
—
Section 163(j) 
98.63%
Indiana Resident Taxable Income 
—
Utah Resident Taxable Income 
—

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Pricing

Pricing History Chart

As of 09/11/2026 Updated Daily

Daily Fund Prices

As of 09/11/2026

Share Prices

As of 09/11/2026
NAV (Net Asset Value)
$9.25
NAV Change 
$0.00
NAV Change (%) 
0.00%
POP (Public Offering Price)
$9.25

52-Week Range

Highest NAV  As on 02/26/2026
$9.28
Lowest NAV  As on 03/30/2026
$9.24

Documents

Product Literature

PDF Format

Factsheet - Western Asset Ultra-Short Income Fund

Regulatory Documents

PDF Format

Semi-Annual Report - Western Asset Ultra-Short Income Fund - Class A

PDF Format

Annual Report - Western Asset Ultra-Short Income Fund - Class A

PDF Format

Prospectus - Western Asset Ultra-Short Income Fund

PDF Format

Summary Prospectus - Western Asset Ultra-Short Income Fund

PDF Format

Statement of Additional Information - Legg Mason Partners Income Trust Book 7

Mailed hardcopies unavailable.

PDF Format

Fiscal Q1 Holdings - Western Asset Ultra-Short Income Fund

Mailed hardcopies unavailable.

PDF Format

Fiscal Q3 Holdings - Western Asset Ultra-Short Income Fund

Mailed hardcopies unavailable.

Risks

What Are the Risks?

All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Leverage increases the volatility of investment returns and subjects investments to magnified losses and a decline in value. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. These and other risks are discussed in the fund’s prospectus.

This website is intended for Primerica.