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WATFX - Western Asset Core Bond I

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Western Asset Core Bond I (WATFX)
Expense Ratio: 0.52%
Expected Lifetime Fees: $16,279.01


The Western Asset Core Bond I fund (WATFX) is a Intermediate-Term Bond fund started on 09/4/1990 and has $3.00 billion in assets under management. The current manager has been running Western Asset Core Bond I since 09/27/1990. The fund is rated by Morningstar. This fund does not charge 12b-1 fees.

MarketRiders Prefers The Following ETF

Vanguard Intermediate-Term Bond ETF (BIV)
Expense Ratio: 0.11%
Expected Lifetime Fees: $3,595.26


The Vanguard Intermediate-Term Bond ETF (BIV) is an Exchange Traded Fund. It is a "basket" of securities that index the Intermediate-Term Bond investment strategy and is an alternative to a Intermediate-Term Bond mutual fund. Fees are very low compared to a comparable mutual fund like Western Asset Core Bond I because computers automatically manage the stocks.



The Following Intermediate-Term Bond Funds Have Lower Fees Than Western Asset Core Bond I (WATFX). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
American Beacon Intermediate Bd Instl AABDX 75.0% 419 0.36%
American Century Core Plus Instl ACCUX 91.0% 250 0.46%
American Century Diversified Bond Instl ACBPX 91.0% 5,500 0.41%
American Funds Bond Fund of Amer F-2 ABNFX 154.0% 33,500 0.36%
American Funds Bond Fund of Amer R5 RBFFX 154.0% 33,500 0.32%
American Funds Bond Fund of Amer R6 RBFGX 154.0% 33,500 0.27%
Artio Total Return Bond I JBGIX 219.0% 2,100 0.44%
Baird Aggregate Bond Inst BAGIX 45.9% 1,600 0.30%
Baird Core Plus Bond Inst BCOIX 34.6% 1,700 0.30%
Baird Intermediate Bond Inst BIMIX 24.1% 763 0.30%
BBH Broad Market N BBBMX 28.0% 2,600 0.51%
Bernstein Intermediate Dur Inst SIIDX 121.0% 1,100 0.45%
BlackRock Bond Allc Tgt Shares Ser C BRACX 41.0% 349 0.00%
BlackRock Bond Allc Tgt Shares Ser M BRAMX 523.0% 321 0.03%
BlackRock Bond Allc Tgt Shares Ser S BRASX 192.0% 134 0.01%
BlackRock Bond Index K WFBIX 122.0% 145 0.20%
BlackRock Core Bond BlackRock CCBBX 726.0% 3,200 0.45%
BlackRock Total Return BlackRock MPHQX 1.0% 2,800 0.41%
CRA Qualified Investment Instl CRANX 40.0% 1,300 0.51%
DFA Intermediate-Term Extended Quality Portfolio Institutional Class Shares DFTEX 15.0% 635 0.22%
Dodge & Cox Income DODIX 27.0% 25,100 0.43%
Dodge & Cox Income DODTZ 27.0% 25,100 0.43%
DoubleLine Core Fixed Income Fund Class I DBLFX 81.0% 2,400 0.50%
DoubleLine Total Return Bond Fund Class I DBLTX 15.0% 25,400 0.50%
Dreyfus Bond Market Index Basic DBIRX 30.0% 2,400 0.15%
Dreyfus Bond Market Index Inv DBMIX 30.0% 2,400 0.40%
DWS US Bond Index Inst BTUSX 146.0% 413 0.39%
DWS US Bond Index S BONSX 146.0% 413 0.45%
Federated Total Return Bond Instl FTRBX 63.0% 7,400 0.36%
Fidelity Advisor Investment Gr Bd I FGBPX 275.0% 5,000 0.48%
Fidelity Corporate Bond Fund FCBFX 242.0% 359 0.45%
Fidelity Intermediate Bond FTHRX 102.0% 4,200 0.45%
Fidelity Investment Grade Bond FBNDX 275.0% 5,000 0.45%
Fidelity Mortgage Secs FMSFX 490.0% 885 0.45%
Fidelity Spartan US Bond Index Fund Fidelity Advantage Class FSITX 106.0% 14,800 0.11%
Fidelity Total Bond FTBFX 168.0% 14,300 0.45%
GE Instl Income Inv GFIIX 393.0% 405 0.23%
GE Instl Income Svc GEISX 393.0% 405 0.48%
Goldman Sachs Core Fxd-Inc Instl GSFIX 687.0% 1,600 0.47%
Goldman Sachs Core Plus Fixed Income I GSNIX 767.0% 350 0.49%
Goldman Sachs Invest Grade Credit Inst GSGDX 120.0% 549 0.37%
Hartford Total Return Bond Y HABYX 131.0% 1,900 0.48%
ING Intermediate Bond I IICIX 500.0% 861 0.38%
JPMorgan Mortgage-Backed Securities Sel OMBIX 21.0% 3,500 0.41%
Madison Mosaic Institutional Bond Y MIIBX 9.0% 109 0.49%
MainStay Indexed Bond I MIXIX 106.0% 497 0.43%
MainStay Indexed Bond I MIXSZ 106.0% 497 0.43%
Metropolitan West Intermediate Bond I MWIIX 145.0% 290 0.45%
Metropolitan West Total Return Bond I MWTIX 156.0% 20,500 0.43%
Munder Bond Y MUCYX 258.0% 112 0.42%
Neuberger Berman Core Bond Inst NCRLX 379.0% 262 0.47%
Northern Bond Index NOBOX 129.3% 2,400 0.16%
Northern Fixed Income NOFIX 700.0% 1,600 0.46%
PIMCO Investment Grade Corp Bd Instl PIGIX 124.0% 7,700 0.50%
PIMCO Moderate Duration Instl PMDRX 391.0% 2,600 0.46%
PIMCO Mortgage-Backed Securities Instl PTRIX 1.0% 536 0.50%
PIMCO Total Return Fund IV Institutional Class PTUIX 771.0% 725 0.50%
PIMCO Total Return II Instl PMBIX 647.0% 3,300 0.50%
PIMCO Total Return III Instl PTSAX 522.0% 3,800 0.50%
PIMCO Total Return Instl PTTRX 584.0% 260,900 0.46%
RidgeWorth Core Bond Fund I STIGX 211.0% 489 0.35%
RidgeWorth Intermediate Bond I SAMIX 139.0% 1,200 0.34%
RidgeWorth Total Return Bond I SAMFX 170.0% 1,200 0.35%
Russell Investment Grade Bond I RFASX 187.0% 1,900 0.48%
Russell Investment Grade Bond I RFASZ 187.0% 1,900 0.48%
Schwab Total Bond Market SWLBX 166.0% 973 0.29%
Scout Core Bond I SCCIX 564.0% 168 0.40%
Scout Core Plus Bond Instl SCPZX 623.0% 454 0.40%
Spartan U.S. Bond Index Investor FBIDX 106.0% 14,800 0.22%
T. Rowe Price Instl Core Plus TICPX 121.5% 188 0.42%
T. Rowe Price U.S. Bond Enhanced Index PBDIX 112.8% 1,000 0.30%
TCW Core Fixed-Income I TGCFX 280.5% 856 0.44%
TCW Total Return Bond I TGLMX 141.3% 5,800 0.44%
TIAA-CREF Bond Instl TIBDX 402.0% 2,300 0.33%
TIAA-CREF Bond Plus Inst TIBFX 221.0% 1,100 0.35%
Vanguard Interm-Term Bond Index Inv VBIIX 61.0% 15,600 0.22%
Vanguard Interm-Term Bond Index Signal VIBSX 61.0% 15,600 0.11%
Vanguard Interm-Term Investment-Grade Ad VFIDX 49.0% 17,400 0.10%
Vanguard Interm-Term Invmt-Grade Inv VFICX 49.0% 17,400 0.20%
Vanguard Interm-Tm Corp Bd Idx Signal VICSX 80.0% 2,400 0.14%
Vanguard Mortgage-Backed Sec Idx Signal VMBSX 344.0% 209 0.15%
Vanguard Total Bond Market Idx Instl Pls VBMPX 73.0% 110,100 0.05%
Vanguard Total Bond Market Index Inst VBTIX 73.0% 110,100 0.07%
Vanguard Total Bond Market Index Inv VBMFX 73.0% 110,100 0.22%
Vanguard Total Bond Market Index Signal VBTSX 73.0% 110,100 0.10%
Wells Fargo Advantage Ttl Return Bond I MBFIX 761.0% 3,400 0.42%
Westcore Plus Bond Institutional WIIBX 42.0% 1,700 0.41%
Western Asset Core Plus Bond I WACPX 734.0% 9,400 0.45%
Western Asset Core Plus Bond IS WAPSX 734.0% 9,400 0.43%
William Blair Bond I WBFIX 28.0% 266 0.50%
William Blair Bond Inst BBFIX 28.0% 266 0.35%



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Turnover
Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Assets
Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.