CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Western Asset Municipal Defined Opportunity Trust (MTT)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of Feb. 19, 2019
Market Price $20.55 (- $0.03)
NAV (Feb. 19, 2019) $20.42 (+ $0.01)
Premium / Discount 0.64% (-0.20%)
Fund Info
Inception March 27, 2009
Sponsor Legg Mason Partners Fund Advisors
Website https://www.leggmason....
Phone 1-888-777-0102
Objective: High current income exempt from federal income tax and then to liquidate in April 2021; investment-grade municipal securities
Related Indexes
Term Municipal Fund Index
Capital & Leverage
Outstanding Shares 12,180,858
Total Assets (Reported: Nov. 30, 2018) $255M
Estimated Total Assets $249M
Net Assets $249M
Market Cap $250M
Purchases Turnover 10.84%
Sales Turnover 10.08%
Total Leverage 0.00%
Structural Leverage (out of total) 0.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 0.71%
Non Lev Exp Ratio 0.71%
Rel Lev Cost %
Discount Data
Average Discount (3 Yr) 4.09%
Discount Low(3 Yr) -5.10%
Discount High(3 Yr) 13.43%
Discount Rel Range 30.95%
Comp Discount 6.50
Discount St Dev (1Yr) 2.44
Z-Stat (6mo) 0.70
Z-Stat (1Yr) -0.18
Z-Stat (3Yr) -0.95
Comp Z-Stat (6mo) -0.77
Comp Z-Stat (3Yr) -0.62
Distribution Data
Market Yield 4.61%
Income Yield 4.61%
Lev Adj NAV Yield 4.64%
Distribution Frequency M
Current Distribution $0.079
Current Income $0.079
Ex-Date 2/14/19
Payable Date 3/1/19
Div Growth (3yr) -5.95%
Dividend Change -6.0% on 5/14/18
Expected Div 2/14/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2017 2015 - 2017
Income 0% 2.9%
ST Gains 0% 1.2%
QDI 0% 0%
LT Gains 0% 0%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $946
Avg Volume 30 day 29,139
Avg Volume 90 day 46,026
Volume Trend -36.69%
Comp Volume Trend -14.43%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
Most Correlated Peer (Mk Pr): DMF 44.0%
NAV - Price Correlation (30 d) 49.2%
NAV - Price Correlation (90 d) 32.4%
NAV - Price Correlation (1 Yr) 86.7%
Price St Dev (1Yr) 10.9%
NAV St Dev (1Yr) 1.8%
Earnings / Share (12/31/18) $0.074
Earn Coverage 94.18%
Earnings Trend Down
UNII / Share (12/31/18) $0.121
Rel UNII 12.81
UNII Trend Up
Bond Specific Data
Maturity 6.83
Duration 5.32
Credit Rating (rbo) A
Investment Grade 91.34%
Non Investment Grade 3.45%
Unrated Bonds 5.21%
Average Bond Price 94.57
Discount vs Price -4.79
Coupon 5.37%
Zero Coupon 3.76%
AMT 12.69%
AMT Yield 4.45%
Bond Calls Risk 24.70%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index


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

The following information applies to closed-end funds and business development companies 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 (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) 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 and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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