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Trending ETFs

Name

As of 03/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.14

$54.9 M

5.65%

$0.35

1.37%

Vitals

YTD Return

1.1%

1 yr return

9.9%

3 Yr Avg Return

1.7%

5 Yr Avg Return

4.2%

Net Assets

$54.9 M

Holdings in Top 10

18.4%

52 WEEK LOW AND HIGH

$6.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.37%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 82.13%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.14

$54.9 M

5.65%

$0.35

1.37%

TGHNX - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.11%
DIVIDENDS
  • Dividend Yield 5.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    TCW High Yield Bond Fund
  • Fund Family Name
    TCW Family of Investment Companies
  • Inception Date
    Nov 16, 2000
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Laird Landmann

Fund Description

Under normal circumstances, the Fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in high yield/below investment grade bonds (commonly known as “junk bonds”). If the Fund changes this investment policy, it will notify shareholders in writing at least 60 days in advance of the change. The Fund shall not invest in any bonds rated, at the time of purchase, CCC+ or below by Fitch Ratings, Inc., CCC+ or below by S&P Global Ratings, and Caa1 or below by Moody’s Investors Service Inc., or, if unrated, bonds deemed by the Fund’s investment advisor to be of comparable quality. The Fund may invest up to 20% of its net assets in equity securities (including common stock and convertible and non-convertible preferred stocks) and bank loans of companies in the high yield universe. Portfolio holdings are diversified by industry and issuer in an attempt to reduce the impact of negative events for an industry or issuer.
The Fund may also invest in debt securities that include, but are not limited to, obligations of the United States government or its agencies, instrumentalities or sponsored corporations; money market instruments; investment grade corporate debt securities; mortgage-backed securities guaranteed by, or secured by collateral that is guaranteed by, the United States government or its agencies, instrumentalities or sponsored corporations; foreign debt securities (corporate and government); and privately issued mortgage-backed securities and asset-backed securities, including commercial mortgage-backed securities.
The Fund may invest in derivative instruments such as options, futures and swap agreements for investment management or hedging purposes. The Fund may also purchase or sell securities on a when-issued, delayed delivery or forward commitment basis.
The Fund invests in the U.S. and abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations, government agencies and governments. The Fund may invest in foreign securities that are denominated in U.S. dollars as well as in local currency.
In selecting the Fund’s investments, the portfolio managers look for companies that have:
strong credit profiles;
favorable industry fundamentals;
good management teams;
stable cash flows; and/or
attractive yields for a given level of risk.
Portfolio securities and other instruments may be sold for a number of reasons, including when the portfolio managers believe that (i) another security or instrument may offer a better investment opportunity, (ii) an issuer has experienced a deterioration of the above listed factors or other credit fundamentals, (iii) an individual security or instrument has reached its sell target, or (iv) the portfolio should be rebalanced for diversification or portfolio weighting purposes.
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TGHNX - Performance

Return Ranking - Trailing

Period TGHNX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -4.9% 8.4% 72.39%
1 Yr 9.9% -4.1% 26.2% 84.51%
3 Yr 1.7%* -15.6% 20.6% 51.80%
5 Yr 4.2%* -11.2% 37.3% 23.14%
10 Yr 4.1%* -4.7% 19.5% 16.71%

* Annualized

Return Ranking - Calendar

Period TGHNX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -4.7% 14.3% 77.48%
2022 -13.3% -33.4% 3.6% 19.44%
2021 -2.2% -8.4% 14.9% 90.38%
2020 5.6% -13.9% 302.7% 3.70%
2019 8.1% -4.4% 13.3% 49.48%

Total Return Ranking - Trailing

Period TGHNX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -4.9% 8.4% 72.39%
1 Yr 9.9% -4.1% 26.2% 84.51%
3 Yr 1.7%* -15.6% 20.6% 51.80%
5 Yr 4.2%* -11.2% 37.3% 23.14%
10 Yr 4.1%* -4.7% 19.5% 16.71%

* Annualized

Total Return Ranking - Calendar

Period TGHNX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -4.7% 18.7% 81.37%
2022 -8.9% -33.4% 47.8% 23.82%
2021 3.2% -8.4% 24.8% 84.99%
2020 10.1% -9.6% 325.6% 5.04%
2019 12.7% -3.8% 21.5% 67.24%

NAV & Total Return History


TGHNX - Holdings

Concentration Analysis

TGHNX Category Low Category High TGHNX % Rank
Net Assets 54.9 M 1.85 M 22.6 B 89.40%
Number of Holdings 257 2 2736 66.36%
Net Assets in Top 10 10.4 M -492 M 4.45 B 87.35%
Weighting of Top 10 18.42% 4.2% 149.6% 26.23%

Top 10 Holdings

  1. CCO Holdings LLC / CCO Holdings Capital Corp 2.69%
  2. U.S. Treasury Bills 2.63%
  3. State Street Institutional US Government Money Market Fund 2.44%
  4. Tenet Healthcare Corp 2.12%
  5. Centene Corp 1.75%
  6. Energy Transfer LP 1.44%
  7. United States Cash Management Bill - Reopening 1.41%
  8. Ford Motor Credit Co LLC 1.32%
  9. Pilgrim's Pride Corp 1.32%
  10. CSC Holdings LLC 1.31%

Asset Allocation

Weighting Return Low Return High TGHNX % Rank
Bonds
93.67% -3.13% 154.38% 62.67%
Cash
7.05% -52.00% 49.49% 21.45%
Other
0.00% -63.70% 102.57% 43.67%
Stocks
0.00% 0.00% 99.61% 92.93%
Preferred Stocks
0.00% 0.00% 8.06% 84.72%
Convertible Bonds
0.00% 0.00% 17.89% 98.30%

Bond Sector Breakdown

Weighting Return Low Return High TGHNX % Rank
Corporate
94.62% 0.00% 129.69% 52.24%
Cash & Equivalents
7.05% 0.00% 49.49% 16.82%
Government
0.07% 0.00% 99.07% 27.98%
Derivative
0.00% -15.04% 42.26% 30.86%
Securitized
0.00% 0.00% 97.24% 85.94%
Municipal
0.00% 0.00% 4.66% 75.58%

Bond Geographic Breakdown

Weighting Return Low Return High TGHNX % Rank
US
91.52% -3.13% 129.21% 59.10%
Non US
2.15% 0.00% 97.33% 27.47%

TGHNX - Expenses

Operational Fees

TGHNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.37% 0.04% 31.61% 26.39%
Management Fee 0.45% 0.00% 1.84% 18.92%
12b-1 Fee 0.25% 0.00% 1.00% 46.88%
Administrative Fee 0.02% 0.00% 0.50% 5.21%

Sales Fees

TGHNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TGHNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TGHNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 82.13% 1.00% 255.00% 77.08%

TGHNX - Distributions

Dividend Yield Analysis

TGHNX Category Low Category High TGHNX % Rank
Dividend Yield 5.65% 0.00% 34.98% 63.80%

Dividend Distribution Analysis

TGHNX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

TGHNX Category Low Category High TGHNX % Rank
Net Income Ratio 3.11% -2.39% 14.30% 92.46%

Capital Gain Distribution Analysis

TGHNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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TGHNX - Fund Manager Analysis

Managers

Laird Landmann


Start Date

Tenure

Tenure Rank

Feb 28, 2011

11.26

11.3%

Laird R. Landmann Group Managing Director Co-Director Fixed Income U.S. Fixed Income Mr. Landmann is a Generalist Portfolio Manager in the U.S. Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). Mr. Landmann currently serves on the boards of the Trust Company of the West and the Metropolitan West Mutual Funds. He is a leader of the MetWest investment team that was recognized as Morningstar's Fixed Income Manager of the Year for 2005 and has been nominated for the award eight times. Prior to founding MetWest in 1996, Mr. Landmann was a principal and the co-director of fixed income at Hotchkis and Wiley. He also served as a portfolio manager and vice president at PIMCO. Mr. Landmann holds an AB in Economics from Dartmouth College and an MBA from the University of Chicago Booth School of Business.

Stephen Kane


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Stephen M. Kane, CFA Group Managing Director U.S. Fixed Income Mr. Kane is a Generalist Portfolio Manager in the U.S. Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). At MetWest, Mr. Kane was responsible for leading MetWest's AlphaTrak, Ultra Short and Liability Driven Investment (LDI) products, and he co-manages many of the firm's mutual funds. Under his co-leadership, the MetWest investment team was recognized as Morningstar's Fixed Income Manager of the Year for 2005. Prior to establishing MetWest, he was a fixed income portfolio manager at Hotchkis and Wiley. He also served as a Vice President at PIMCO. Mr. Kane earned a BS in Business from the University of California, Berkeley and an MBA from the University of Chicago Booth School of Business.

Jerry Cudzil


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Jerry Cudzil is a Managing Director of the Metropolitan West Asset Management, LLC, has been with the Metropolitan West Asset Management, LLC since May, 2012. From June, 2004, until May 2010, Mr. Cudzil was a portfolio manager for Dimaio Ahman Capital. From May, 2010 until May, 2011, Mr. Cudzil was a high yield bond trader with Morgan Stanley & Co., and from September, 2011 until May, 2012, he was a high yield bond trader with Deutsche Bank.

Steven Purdy


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Managing Director of Metropolitan West Asset Management since March 2016. Prior to joining Metropolitan, Mr. Purdy was a Managing Director at TPG Capital and Goldman Sachs. Mr. Purdy manages the High Yield Bond Fund.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17