Expense Ratio History

WAEXX expense ratio history

Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares

Fund company
Legg Mason Partners Institutional
Type
Mutual fund

0.25%

In basis points
25 basis points
Yearly cost per $10,000
$25
Prospectus dated
1 January 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 0.30% on 1 January 2026

Fee over time

WAEXX expense ratio: 0.32% until 29 Dec 2020, then 0.37%; 0.37% until 29 Dec 2021, then 0.33%; 0.33% until 29 Dec 2022, then 0.30%; 0.30% until 1 Jan 2026, then 0.25%; read at 0.25% on 1 Jan 2026.0.00%0.20%0.40%0.60%Oct 2019Nov 2020Dec 2021Jan 2023Feb 2024Mar 20250.32% before0.25% from 1 Jan 2026
WAEXX expense ratio: 0.32% until 29 Dec 2020, then 0.37%; 0.37% until 29 Dec 2021, then 0.33%; 0.33% until 29 Dec 2022, then 0.30%; 0.30% until 1 Jan 2026, then 0.25%; read at 0.25% on 1 Jan 2026.0.00%0.20%0.40%0.60%Oct 2019Dec 2021Feb 20240.32% before0.25% from 1 Jan 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 2 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
WAEXX (this page) Premium Shares 0.25% 0.14% 1 Jan 2026
WADXX CAPITAL SHARES 0.28% 0.12% 1 Jan 2026

Every figure we've recorded

DateFeeWhat happened
1 Jan 2026 0.25% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Jan 2026 0.25% Cut from 0.30% to 0.25%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-12-23
1 Jan 2025 0.30% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-01-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2023 0.30% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2022 0.30% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2022 0.30% Cut from 0.33% to 0.30%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2022-12-22
29 Dec 2021 0.33% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2021 0.33% Cut from 0.37% to 0.33%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-12-22
29 Dec 2020 0.37% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-12-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Dec 2020 0.37% Raised from 0.32% to 0.37%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-12-21
28 Oct 2019 0.32% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-10-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 0.25% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$318 in fees over 10 years

After fees, $10,000 grows to $15,896.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$26
3 years$81
5 years$141
10 years$318

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 7 prospectuses for this share class since 2019. Each one is listed above with a link to the filing.

How we read fees

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