Western Asset Municipal High Income Fund Inc.
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$6.61
- Net Assets:$146 Million
- NAV:$7.36
- Premium-10.19%
- Peer Rank:4 of 13
- Investment Rating:C-
- Performance:C-
- RiskB-
We rate Western Asset Municipal High Inc at C-. Positive factors that influence this rating include a low price volatility and low expense structure. The fund invests approximately 100% of its assets in bonds and may be considered for investors seeking a Municipal - High Yield strategy.
Total return ranks below peers over the last three years. The Western Asset Municipal High Inc has returned an annual rate of 4.73% since inception. More recently, the fund has generated a total return of 1.71% in the last five years, -0.93% in the last three years, and 8.00% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 33% of them. It has also outpaced 31% of its competitors on a three year basis and 58% of them over the last year for the period ending 2/29/2024. On a year to date basis, MHF has returned 3.65%.
Downside risk has been below average. MHF has a draw down risk of -28.96%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 14.1%. This fund has had moderate volatility in its monthly performance over the last 36 months.
Low expense ratio helps performance. On total assets of $146.00 million, MHF maintains a low expense ratio compared to its Municipal - High Yield peers of just 0.70% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As MHF is a closed end fund, it has no front end or back end load.