Western Asset Variable Rate Strategic:GFY

    Manage Alerts

    Overview

    As of 8/11/2020

     Share
    Price
    NAVPremium/
    Discount
    Current$16.32$16.60-1.72%
    52 Wk Avg$15.91$17.05-6.69%
    52 Wk High$17.14$17.871.06%
    52 Wk Low$10.88$14.33-22.25%
    Regular Distribution TypeIncome Only
    Distribution Rate5.70%
    Distribution Amount$0.0775
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds objective is to maintain a high level of current income. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in variable rate instruments of U.S.and non-U.S. issuers, including U.S. and non-U.S. investment grade and high yield debt, senior loans, emerging markets debt and derivatives related to these securities. The Investment Manager will allocate and reallocate the Funds assets from time to time among the types of debt securities described above based on its analysis of economic and market conditions and the relative returns and risks then represented by each type. Effective 01-Jun-07, the new definition of emerging market country would include any country which is, at the time of investment, represented in the JP Morgan EMBI Global Index or categorized by the World Bank, in its annual categorization, as middle or low-income.

    Capital Structure

    As of 8/11/2020

    Total Investment Exposure:$98.278M
    Total Common Assets:$77.496M
    Common Shares Outstanding:4,668,407
    Leverage

    As of 3/31/2018

    Preferred Share Assets:
    Total Debt (USD): $20.783M
    Regulatory Leverage (USD):
    Effective Leverage (USD): $20.783M
    Effective Leverage (%): 21.15%
    Annual Expense Ratios

    As of 9/30/2019

      Per Common Share
    Management Fees0.96%
    Other Expenses:0.29%
    Baseline Expense: N/A
    Interest Expense:0.87%
    Total: 2.12%
    Fund Management

    Fund Sponsor
    Legg Mason

    Portfolio Managers
    John L. Bellows, S. Kenneth Leech

    Basics
    Category: Fixed Income - Taxable-Multi-Sector
    Ticker: GFY
    NAV Ticker: XGFYX
    Average Daily Volume (shares): 8,261
    Average Daily Volume (USD): $0.129M
    Inception Date: 10/27/2004
    Inception Share Price: $20.00
    Inception NAV: $19.06
    Tender Offer: No
    Term: No
    Fiscal Year End: September 30
    Third Party Links & Reports

    Distributions

    As of 8/11/2020

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 3/31/2020
    $0.3552
    Annualized Distribution Rate on NAV:
    As of 8/11/2020
    5.60%
    Total Return on NAV (12 months):
    As of 8/11/2020
    -2.60%
    Avg. Portfolio Coupon:
    As of 8/11/2020
    3.41%
    Total % Portfolio Effectively Leveraged:
    As of 8/11/2020
    21.15%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 8/12/2020

    PeriodAvg Discount
    6 Month-5.78%
    1 Year-6.69%
    3 Year-8.19%
    5 Year-8.30%
    Z-Score

    As of 8/11/2020

    PeriodZStat
    3 Month1.35
    6 Month1.15
    1 Year1.81
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 7/31/2020
    Category: Morningstar US CEF Multi-Sector

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-0.40%-4.05%-6.92%-4.53%
    201914.18%6.30%20.20%12.36%
    2018-5.61%1.22%-2.48%-0.11%
    201714.20%10.20%15.45%15.37%
    20167.76%6.61%18.87%13.10%
    20150.42%-0.81%-0.90%1.45%
    2014-0.01%1.67%9.02%9.41%
    20133.63%6.06%3.03%7.45%
    201225.63%16.53%21.74%27.04%
    2011-8.63%0.15%5.86%2.25%
    201025.50%15.94%25.01%27.62%
    200930.76%24.61%73.25%50.41%
    2008-21.67%-22.26%-29.88%-31.32%
    2007-4.59%-0.69%  
    200614.23%7.85%  
    2005-10.93%7.09%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 7/31/2020
    Category: Morningstar US CEF Multi-Sector

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 8/11/2020
    3.41%
    Average Maturity:
    As of 6/30/2020
    5.04 yrs
    Number of Holdings:
    As of 6/30/2020
    367
    Annual Portfolio Turnover:
    As of 9/30/2019
    21.00%
    Average Bond Price:
    As of 6/30/2020
    $98.42
    Asset Allocation

    As of 6/30/2020 reported by Fund Sponsor

    Top Sectors

    As of 6/30/2020 reported by Fund Sponsor

    Sector%Portfolio
    Securitized (Super Sector)69.47%
    Corporate (Super Sector)50.15%
    Corporate Bond42.37%
    Asset Backed29.71%
    Agency Mortgage Backed17.98%
    Non Agency Residential Mortgage Backed12.89%
    Government Commercial Mortgage Backed8.90%
    Bank Loan4.83%
    Government3.77%
    Preferred Stock1.67%
    Top Holdings

    As of 6/30/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    Wachovia Capital Trust III 5.57%$1.79M2.33%
    Banc America Fdg 2015-R3 0.3%$1.39M1.81%
    JPMorgan Chase & Co DR$1.30M1.69%
    Bank of New York Mellon Corp Pfd$1.28M1.67%
    State Street Corporation Deposit Shs Repr 1/4000th Non-Cum Perp Pfd Shs Ser$1.28M1.67%
    M&T Bank Corp Non-Cum Perp Pfd Shs Series -E-$1.26M1.64%
    Ms Resec Tr 2015-R2 2.4%$1.11M1.45%
    Rasc Ser 2006-Ks2 0.59%$1.07M1.40%
    Csmc Series 2.53%$1.07M1.39%
    Ir Swap 3% Fixed$-3.97M-5.18%
    Maturity Breakdown

    As of 6/30/2020 reported by Fund Sponsor

    Country Allocation

    As of 6/30/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income91.37%
    Others - Fixed Income5.03%
    Netherlands - Fixed Income2.50%
    United Kingdom - Fixed Income2.11%
    Brazil - Fixed Income1.45%
    Mexico - Fixed Income1.40%
    Ireland - Fixed Income0.84%
    Belgium - Fixed Income0.58%
    Russia - Fixed Income0.57%
    Japan - Fixed Income0.52%
    Sweden - Fixed Income0.42%
    France - Fixed Income0.29%
    Chile - Fixed Income0.28%
    Switzerland - Fixed Income0.27%
    Germany - Fixed Income0.26%
    Israel - Fixed Income0.24%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-1014244PR-E1119W