SAIFX - Legg Mason ClearBridge Large Cap Value I

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Legg Mason ClearBridge Large Cap Value I (SAIFX)
Expense Ratio: 0.67%
Expected Lifetime Fees: $20,648.50

The Legg Mason ClearBridge Large Cap Value I fund (SAIFX) is a Large Value fund started on 12/30/1988 and has $675.50 million in assets under management. The current manager has been running Legg Mason ClearBridge Large Cap Value I since 09/23/2004. The fund is rated by Morningstar. This fund does not charge 12b-1 fees.

MarketRiders Prefers The Following ETF

Vanguard Value ETF (VTV)
Expense Ratio: 0.10%
Expected Lifetime Fees: $3,271.86

The Vanguard Value ETF (VTV) is an Exchange Traded Fund. It is a "basket" of securities that index the Large Value investment strategy and is an alternative to a Large Value mutual fund. Fees are very low compared to a comparable mutual fund like Legg Mason ClearBridge Large Cap Value I because computers automatically manage the stocks.

The Following Large Value Funds Have Lower Fees Than Legg Mason ClearBridge Large Cap Value I (SAIFX). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
American Beacon Lg Cap Value AMR AAGAX 90.0% 7,800 0.34%
American Beacon Lg Cap Value Inst AADEX 90.0% 7,800 0.59%
American Century Income & Growth Inst AMGIX 42.0% 1,500 0.49%
American Funds American Mutual A AMRMX 23.0% 20,800 0.62%
American Funds American Mutual F-1 AMFFX 23.0% 20,800 0.66%
American Funds American Mutual F-2 AMRFX 23.0% 20,800 0.42%
American Funds American Mutual R5 RMFFX 23.0% 20,800 0.37%
American Funds American Mutual R6 RMFGX 23.0% 20,800 0.32%
American Funds Washington Mutual A AWSHX 25.0% 51,900 0.63%
American Funds Washington Mutual F-1 WSHFX 25.0% 51,900 0.66%
American Funds Washington Mutual F-2 WMFFX 25.0% 51,900 0.41%
American Funds Washington Mutual R4 RWMEX 25.0% 51,900 0.66%
American Funds Washington Mutual R5 RWMFX 25.0% 51,900 0.36%
American Funds Washington Mutual R6 RWMGX 25.0% 51,900 0.31%
BlackRock Basic Value Instl MABAX 64.0% 3,800 0.55%
DFA Tax-Managed US Marketwide Value DTMMX 20.0% 2,100 0.38%
DFA Tax-Managed US Marketwide Value II DFMVX 20.0% 849 0.23%
DFA US Large Cap Value I DFLVX 14.0% 7,400 0.28%
DFA US Large Cap Value III DFUVX 14.0% 1,900 0.14%
Dodge & Cox Stock DODGX 16.0% 36,800 0.52%
Fidelity Advisor Stock Selec Lg Cp Val I FLUIX 128.0% 468 0.60%
Fidelity Stock Selec Lg Cp Val FSLVX 128.0% 468 0.57%
Goldman Sachs Struct Large Cap Val I GCVIX 56.0% 476 0.55%
Hartford Dividend & Growth Y HDGYX 30.0% 6,200 0.66%
ING Corporate Leaders Trust Series B LCX1Z 0.0% 709 0.59%
ING Corporate Leaders Trust Series B LEXCX 0.0% 709 0.59%
JPMorgan Value Opportunities Inst JVOIX 63.0% 492 0.65%
Lord Abbett Affiliated I LAFYX 16.4% 6,400 0.49%
LSV Conservative Value Equity LSVVX 16.0% 116 0.35%
LSV Value Equity LSVEX 19.0% 1,100 0.64%
Manning & Napier Dividend Focus I MNDFX 8.0% 123 0.60%
MFS Instl Large-Cap Value ILVAX 28.0% 132 0.65%
Oppenheimer Value Y CGRYX 91.0% 2,200 0.58%
Pioneer Value Y PVFYX 84.0% 1,300 0.61%
Principal Equity Income Inst PEIIX 16.6% 3,800 0.52%
Schwab Fdmtl US Lg Co Idx SFLNX 11.0% 1,800 0.35%
T. Rowe Price Instl Large Cap Value TILCX 19.3% 778 0.59%
TIAA-CREF Enh Lg Cp Val Idx Inst TEVIX 114.0% 907 0.38%
TIAA-CREF Large-Cap Value Idx Inst TILVX 27.0% 893 0.08%
TIAA-CREF Large-Cap Value Idx Retire TRCVX 27.0% 893 0.33%
TIAA-CREF Large-Cap Value Instl TRLIX 68.0% 2,500 0.47%
Vanguard Equity-Income Adm VEIRX 29.0% 7,900 0.22%
Vanguard Equity-Income Inv VEIPX 29.0% 7,900 0.31%
Vanguard High Dividend Yield Index Inv VHDYX 16.0% 4,700 0.25%
Vanguard Mega Cap 300 Value Index Instl VMVLX 24.0% 477 0.10%
Vanguard Russell 1000 Value Index Fund Institutional Shares VRVIX 39.0% 388 0.09%
Vanguard US Value Inv VUVLX 60.0% 504 0.31%
Vanguard Value Index Instl VIVIX 23.0% 15,800 0.08%
Vanguard Value Index Inv VIVAX 23.0% 15,800 0.24%
Vanguard Value Index Signal VVISX 23.0% 15,800 0.10%
Vanguard Windsor Adm VWNEX 49.0% 11,700 0.29%
Vanguard Windsor II Adm VWNAX 23.0% 34,600 0.27%
Vanguard Windsor II Investor VWNFX 23.0% 34,600 0.35%
Vanguard Windsor Investor VWNDX 49.0% 11,700 0.39%
Wells Fargo Advantage Large Co Val I WLCIX 35.0% 409 0.66%

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Why Are These Metrics Important?

Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.