About SBPAX
Western Asset Pennsylvania Municipals Fund Class A is a tax-exempt municipal bond mutual fund focused on generating monthly income that is free from regular federal income tax and Pennsylvania personal income tax. The portfolio invests at least 80% of assets in Pennsylvania municipal securities, emphasizing intermediate- and long-term, investment-grade issuers across sectors such as general obligation, essential services, transportation, and healthcare. The strategy combines sector rotation and issuer selection within a value-oriented, research-driven framework, seeking diversification across credits and maturities to balance income and interest rate risk. Managed within the Franklin Templeton ecosystem, the fund distributes dividends monthly and typically makes capital gains distributions annually. It has a long operating history dating back to 1994 and targets residents and investors seeking Pennsylvania-specific municipal exposure for potential tax efficiency. The fund’s structure, expenses, and portfolio characteristics align it with state-specific muni categories, where credit research, call features, and duration positioning are central to outcomes. Information on pricing, performance, holdings, and documents is available through the sponsor’s resources and independent fund data providers.
Fund Family Franklin Templeton, Inc
Category Muni Pennsylvania
Performance Rating Below Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol SBPAX
Share Class Class A
Index Bloomberg Muni Bond Pennsylvania TR USD
SBPAX had a total return of -1.09% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.02%.
