Registry rank 643 · Portfolio as of 2026-04-30
ClearBridge Appreciation Fund
LMESX (ClearBridge Appreciation Fund) · LMPIX (ClearBridge Appreciation Fund) · LMPPX (ClearBridge Appreciation Fund) · SAPCX (ClearBridge Appreciation Fund) · SAPYX (ClearBridge Appreciation Fund) · SHAPX (ClearBridge Appreciation Fund)
The verdict
What the numbers say
49.6% of this portfolio matches the S&P 500, which costs $10 a year per $100,000 to own outright. This fund charges $550 a year.
Data provenance
Run 363649da-fcfb-4007-87ef-de06de7710ca; method closet-index@2.0.0; fund accession 0000940400-26-024951; comparison periods and expense-filing links appear with their figures. Machine capture time: 2026-07-29T14:22:09.616Z.
Computed rule checks
2 warnings · 0 checks clear · 1 unavailable
Warning
· Rule 1
The fund’s filed benchmark and its closest approved index control point to different comparisons.
Methodology rule · visual rules si-visual-explainers@1.0.0
Warning
· Rule 2
49.6% of this portfolio matches the S&P 500, which costs $10 a year per $100,000 to own outright. This fund charges $550 a year.
Methodology rule · visual rules si-visual-explainers@1.0.0
Unavailable
· Rule 3
No complete licensed window and filed headline fee are available together for this check.
Computed on licensed market-return history · filed fee as of 2025-10-31
Methodology rule · visual rules si-visual-explainers@1.0.0
Filed fees in dollars
SEC-convention illustration
Computed from SEC filings
Assumptions for each dollar figure: $100,000 starting amount · 5.0% annual return · annual compounding · fees deducted annually · 0.01% computed index-control baseline. Methodology.
| Share class and filing | 10 years | 20 years | 30 years |
|---|---|---|---|
| LMESX0.55% · SEC expense filing · as of 2025-10-31 | $8,179 | $25,951 | $61,768 |
| LMPIX1.02% · SEC expense filing · as of 2025-10-31 | $14,994 | $46,554 | $108,487 |
| LMPPX1.24% · SEC expense filing · as of 2025-10-31 | $18,091 | $55,607 | $128,340 |
| SAPCX1.66% · SEC expense filing · as of 2025-10-31 | $23,840 | $71,908 | $163,011 |
| SAPYX0.67% · SEC expense filing · as of 2025-10-31 | $9,945 | $31,380 | $74,283 |
| SHAPX0.91% · SEC expense filing · as of 2025-10-31 | $13,424 | $41,889 | $98,094 |
Real trailing windows
Computed on licensed market-return history
Trailing windows use iShares Core S&P 500 ETF (IVV) adjusted-close total-return history through 2026-07-29 and the same filed index-control fee baseline as the convention table. Methodology.
| Share class and filing | 10 years | 20 years | 30 years |
|---|---|---|---|
| LMESXFiled fee as of 2025-10-31 | $18,403Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $77,245Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
| LMPIXFiled fee as of 2025-10-31 | $33,795Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $138,889Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
| LMPPXFiled fee as of 2025-10-31 | $40,806Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $166,073Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
| SAPCXFiled fee as of 2025-10-31 | $53,856Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $215,184Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
| SAPYXFiled fee as of 2025-10-31 | $22,387Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $93,460Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
| SHAPXFiled fee as of 2025-10-31 | $30,244Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 14.88% annualized | $124,905Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 11.19% annualized | Proxy history begins 2000 — no full 30-year window |
These figures are illustrations, not predictions or personalized advice. Returns and fees can differ. Read the research disclaimer.
Change the illustration
Computed from SEC filings
Assumptions for the dollar figures below: $100,000 starting amount; 5.0% annual return; 20 years; annual compounding; fees deducted annually; 0.01% computed index-control baseline. LMESX SEC expense filing, as of 2025-10-31. Methodology.
| Result | Amount |
|---|---|
| Ending value at baseline | $264,825 |
| Ending value at filed expense ratio | $238,874 |
| Difference attributed to fee drag | $25,951 |
This is an illustration, not a prediction or personalized advice. Returns and fees can differ. Read the research disclaimer.
Largest active differences vs the S&P 500
The bars are labeled and repeated in the table; color is not the only signal. Linked company names open Buy Like Buffett’s company record; Sensible Investor does not score stocks.
| Holding | Fund | S&P 500 | Difference |
|---|---|---|---|
| Alphabet, Inc. | 8.97% | 5.40% | +3.58% |
| Netflix, Inc. | 2.92% | 0.73% | +2.19% |
| Eaton Corp. plc | 2.37% | 0.25% | +2.12% |
| ASML HOLDING NV | 1.99% | 0.00% | +1.99% |
| TJX Cos., Inc. (The) | 2.09% | 0.32% | +1.77% |
| Apple, Inc. | 4.96% | 6.67% | -1.71% |
| Travelers Cos., Inc. (The) | 1.82% | 0.11% | +1.70% |
| Vulcan Materials Co. | 1.68% | 0.06% | +1.61% |
| NVIDIA Corp. | 9.03% | 7.58% | +1.44% |
| Waste Management, Inc. | 1.51% | 0.15% | +1.35% |
Source and verification
SEC N-PORT filing · filed 2026-06-22 · period 2026-04-30
SEC expense filing · period 2025-10-31
Cite these figures
Each snippet includes the figure’s source-event date and immutable verification URL.
Best-fit active share
Sensible Investor, “ClearBridge Appreciation Fund — best-fit active share,” 50.4% versus the S&P 500, fund portfolio as of 2026-04-30; measured against the filed holdings of iShares Core S&P 500 ETF (IVV), as of 2026-03-31. https://sensible-investor.com/registry/lmesx/as-of/363649da-fcfb-4007-87ef-de06de7710ca
LMESX filed expense ratio
Sensible Investor, “ClearBridge Appreciation Fund — filed expense ratio,” 0.55% for LMESX, as of 2025-10-31. https://sensible-investor.com/registry/lmesx/as-of/363649da-fcfb-4007-87ef-de06de7710ca
LMESX fee per active unit
Sensible Investor, “ClearBridge Appreciation Fund — fee per unit of active management,” 1.09% using the LMESX expense ratio as of 2025-10-31 and fund portfolio as of 2026-04-30. https://sensible-investor.com/registry/lmesx/as-of/363649da-fcfb-4007-87ef-de06de7710ca