# Portfolio overlap — WAPIX vs ARMZX Comparing **Western Asset Core Bond Fund** (2026-03-31) and **Western Asset Ultra-Short Income Fund** (2026-02-27). - Shared positions: 63 - Western Asset Core Bond Fund covered by Western Asset Ultra-Short Income Fund: 0.08241712892824716867818266168 - Western Asset Ultra-Short Income Fund covered by Western Asset Core Bond Fund: 0.08241712892824716867818266166 ## Western Asset Core Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | US TREASURY N/B | 0.065203 | | | US TREASURY N/B | 0.052872 | | | US TREASURY N/B | 0.015278 | ✓ | | Fannie Mae Pool | 0.008685 | | | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-92 AH | 0.007778 | | | TSMC ARIZONA | 0.007558 | | | U.S. Treasury Inflation-Protected Indexed Notes | 0.007473 | | | FNCL 5 4/26 | 0.006923 | | | Fannie Mae Pool | 0.006631 | | | Government National Mortgage Association Series 2022-63, Class LM | 0.006125 | | | G2SF 5.5 4/25 | 0.006071 | | | LMAT 2021-GS1 A1 144A 5.892% 10-25-66 | 0.006046 | | | U.S. Treasury Inflation-Protected Indexed Notes | 0.005714 | | | KZOKZ 5 3/4 04/19/47 | 0.005710 | | | CSMC Trust, Series 2021-RPL4, Class A1 | 0.005667 | | | CARVL 2024-3A A1 | 0.005427 | ✓ | | CSMC 2017-RPL1 TRUST SER 2017-RPL1 CL M1 V/R REGD 144A P/P 2.97063000 | 0.005231 | | | GINNIE MAE II POOL G2 787228 | 0.005147 | | | GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.005057 | | | SMB Private Education Loan Trust, Series 2020-PTA, Class B | 0.004919 | | | FNMA, 30 Year | 0.004911 | | | STACR 22-DNA3 M1B SOFR30A+290 04/25/2042 144A | 0.004822 | | | FR SD7521 | 0.004803 | | | FANNIE MAE POOL UMBS P#FM1727 5.00000000 | 0.004738 | | | FREDDIE MAC NON GOLD POOL FH 841076 | 0.004576 | | | GNMA II, 30 Year | 0.004462 | | | G2SF 2.5 4/24 | 0.004341 | | | GINNIE MAE II POOL G2 786835 | 0.004334 | ✓ | | Ellington Financial Mortgage Trust, Series 2022-1, Class A1 | 0.004303 | ✓ | | FNMA, Other | 0.004221 | | | FANNIE MAE POOL FN FS2023 | 0.004153 | | | FREDDIE MAC POOL FR SC0160 | 0.004086 | | | BCRED MML CLO 2021-1 LLC | 0.004038 | | | Owl Rock CLO III Ltd., Series 2020-3A, Class AR | 0.003905 | | | TSMC ARIZONA | 0.003841 | ✓ | | WELLS FARGO CO | 0.003747 | | | G2SF 5 4/26 | 0.003693 | | | FANNIE MAE POOL FN CB3044 | 0.003689 | | | Wells Fargo Commercial Mortgage Trust 2022-JS2 | 0.003682 | | | Government National Mortgage Association | 0.003630 | | | JACK IN THE BOX FUNDING LLC SER 2022-1A CL A2I REGD 144A P/P 3.44500000 | 0.003543 | | | M&T Equipment Notes | 0.003536 | | | Prime Mortgage Trust 2006-DR1 | 0.003497 | | | Comision Federal de Electricidad | 0.003442 | | | NEW RESIDENTIAL MORTGAGE LOAN TRUST 2021-NQM3 SER 2021-NQM3 CL A1 V/R REGD 144A P/P 1.15612000 | 0.003325 | ✓ | | CSMC 2020-FACT SER 2020-FACT CL A V/R REGD 144A P/P 5.71548000 | 0.003275 | | | FNCL 6 4/26 | 0.003242 | | | FNMA 30YR 3.5% 01/01/2050#FS5313 | 0.003206 | | | FNMA Connecticut Avenue Securities Trust, Series 2022-R04, Class 1M2 | 0.003201 | | | FNCL 5.5 4/26 | 0.003195 | | ## Western Asset Ultra-Short Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Western Asset Premier Institutional Government Reserves | 0.053055 | | | US TREASURY N/B | 0.035026 | ✓ | | Swedbank Sparbanken Svenge Ab 3.75% CP 22/07/2026 | 0.013099 | | | Credit Agricole Corporate & Investment Bank New York Branch 3.8% CP 22/07/2026 | 0.010921 | | | CITIGROUP INC | 0.010509 | | | MARS INC SR UNSECURED 144A 03/28 4.6 | 0.009372 | | | TORONTO DOM BANK | 0.007847 | | | Freddie Mac Non Gold Pool | 0.007126 | | | MORGAN STANLEY | 0.006541 | | | Government National Mortgage Association | 0.006218 | | | RTX CORP SR UNSECURED 11/26 5.75 | 0.006006 | | | HUMANA INC | 0.005921 | | | APPLE INC | 0.005919 | | | ROYAL BK CANADA | 0.005749 | | | BANCO SANTANDER | 0.005679 | | | ENTERPRISE FLEET FINANCING LLC EFF 2023 1 A3 144A | 0.005500 | | | AIR LEASE CORP | 0.005424 | | | SOUTHERN CAL ED | 0.005414 | | | LAS VEGAS SAN | 0.005413 | ✓ | | ABBVIE INC | 0.005355 | | | WELLS FARGO CO | 0.005203 | | | LAS VEGAS SAN | 0.004999 | | | MORGAN STANLEY | 0.004971 | | | PACIFIC GAS&ELEC | 0.004959 | ✓ | | ARI Fleet Lease Trust, Series 2025-B, Class A2 | 0.004898 | | | GMCAR 2022-4 A4 | 0.004714 | | | UNITEDHEALTH GRP | 0.004583 | | | AERCAP IRELAND | 0.004562 | ✓ | | BANK OF AMER CRP | 0.004540 | | | ENERGY TRANS | 0.004428 | | | WELLS FARGO CO | 0.004383 | ✓ | | MO 6.2 11/01/28 | 0.004379 | | | BAT CAPITAL CORP | 0.004330 | ✓ | | META PLATFORMS | 0.004317 | | | FORDF 2023-1 A1 144A 4.92% 05-15-28 | 0.004277 | | | EQT CORP | 0.004266 | | | AERCAP IRELAND | 0.004196 | | | ELI LILLY & CO | 0.004109 | | | CPGX 6.042 08/15/28 | 0.004109 | | | Teva Pharmaceutical Industries Ltd. | 0.004077 | | | Western Midstream Oper Lp Sr Glb 4.65% Due 07/01/2026 | 0.004062 | | | FNMA GTD MTG PASS THRU CTF SOFR30A+ 08/25/2054 | 0.004014 | | | PFS Financing Corporation 5.71%, Due 05/15/2028 | 0.003984 | | | GOLDMAN SACHS GP | 0.003977 | ✓ | | NSLT 2025-1A A1 | 0.003907 | | | NELNET STUDENT LOAN TRUST NSLT 2015 3A A2 144A | 0.003891 | | | BANK OF AMER CRP | 0.003890 | ✓ | | INTEL CORP | 0.003801 | | | PHILIP MORRIS IN | 0.003760 | | | FR RB5145 | 0.003757 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-021633` (as of 2026-03-31) - N-PORT (fund B) — accession `0000940400-26-014746` (as of 2026-02-27) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _