Expense Ratio History

LSMSX expense ratio history

Western Asset SMASh Series TF Fund

Fund company
Legg Mason Partners Institutional
Type
Mutual fund

0.20%

In basis points
20 basis points
Yearly cost per $10,000
$20
Prospectus dated
1 July 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 0.21% on 1 July 2026

Fee over time

LSMSX expense ratio: 3.18% until 30 Jun 2016, then 12.88%; 12.88% until 30 Jun 2017, then 4.76%; 4.76% until 29 Jun 2018, then 0.91%; 0.91% until 28 Jun 2019, then 0.56%; 0.56% until 30 Jun 2020, then 0.34%; 0.34% until 30 Jun 2021, then 0.25%; 0.25% until 28 Jun 2022, then 0.20%; 0.20% until 29 Jun 2023, then 0.21%; 0.21% until 1 Jul 2026, then 0.20%; read at 0.20% on 1 Jul 2026.0.00%5.00%10.00%15.00%20.00%Dec 2015Oct 2017Aug 2019Jun 2021Apr 2023Feb 20253.18% before0.20% from 1 Jul 2026
LSMSX expense ratio: 3.18% until 30 Jun 2016, then 12.88%; 12.88% until 30 Jun 2017, then 4.76%; 4.76% until 29 Jun 2018, then 0.91%; 0.91% until 28 Jun 2019, then 0.56%; 0.56% until 30 Jun 2020, then 0.34%; 0.34% until 30 Jun 2021, then 0.25%; 0.25% until 28 Jun 2022, then 0.20%; 0.20% until 29 Jun 2023, then 0.21%; 0.21% until 1 Jul 2026, then 0.20%; read at 0.20% on 1 Jul 2026.0.00%5.00%10.00%15.00%20.00%Dec 2015Jul 2019Feb 20233.18% before0.20% from 1 Jul 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Every figure we've recorded

DateFeeWhat happened
1 Jul 2026 0.20% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-07-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jul 2026 0.20% Cut from 0.21% to 0.20%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-06-23
1 Jul 2025 0.21% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-07-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jul 2024 0.21% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-07-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Jun 2023 0.21% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-06-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Jun 2023 0.21% Raised from 0.20% to 0.21%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-06-21
28 Jun 2022 0.20% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-06-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Jun 2022 0.20% Cut from 0.25% to 0.20%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-06-22
30 Jun 2021 0.25% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-06-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Jun 2021 0.25% Cut from 0.34% to 0.25%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-06-23
30 Jun 2020 0.34% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-06-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Jun 2020 0.34% Cut from 0.56% to 0.34%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-07-10
28 Jun 2019 0.56% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-06-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Jun 2019 0.56% Cut from 0.91% to 0.56%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2019-07-11
29 Jun 2018 0.91% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-06-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Jun 2018 0.91% Cut from 4.76% to 0.91%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-07-13
30 Jun 2017 4.76% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-06-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Jun 2017 4.76% Cut from 12.88% to 4.76%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-07-14
30 Jun 2016 12.88% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-06-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Jun 2016 12.88% Raised from 3.18% to 12.88%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2016-07-15
23 Dec 2015 3.18% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-12-23 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 0.20% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$255 in fees over 10 years

After fees, $10,000 grows to $15,974.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$20
3 years$64
5 years$113
10 years$255

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 12 prospectuses for this share class since 2015. Each one is listed above with a link to the filing.

How we read fees

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