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Name

As of 04/17/2024

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

Metropolitan West Corporate Bond Fund

MWCSX | Fund

$8.73

$5.45 M

0.00%

3.93%

Vitals

YTD Return

-3.3%

1 yr return

0.7%

3 Yr Avg Return

-3.8%

5 Yr Avg Return

1.1%

Net Assets

$5.45 M

Holdings in Top 10

21.8%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.93%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 148.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

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

Metropolitan West Corporate Bond Fund

MWCSX | Fund

$8.73

$5.45 M

0.00%

3.93%

MWCSX - Profile

Distributions

  • YTD Total Return -3.3%
  • 3 Yr Annualized Total Return -3.8%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.01%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Metropolitan West Corporate Bond Fund
  • Fund Family Name
    MetWest Funds
  • Inception Date
    Jun 29, 2018
  • Shares Outstanding
    N/A
  • Share Class
    M
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bryan Whalen

Fund Description

The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in a diversified portfolio of corporate debt instruments of varying maturities issued by U.S. and foreign corporations domiciled in developed market and emerging market countries. The market value of any corporate debt derivatives will count toward the 80% level specified above. In addition to corporate debt instruments, the Fund may also invest its assets in other fixed income securities issued by various U.S. and foreign public or private entities, including government bonds, municipal securities, securities issued by government agencies, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), and U.S. and non-U.S. money market securities.
The assets held in the Fund may have interest rates that are fixed, variable or floating and can include private placements and restricted securities. Under normal circumstances, the Fund invests at least 80% of its total assets (measured at
the time of investment) in investment grade fixed income securities or unrated securities determined by the Adviser to be of comparable quality. The emerging market fixed-income securities in which the Fund may invest are not subject to any minimum credit quality standards, so long as the value of those investments does not cause the Fund to exceed its limit on investments in securities rated below investment grade (commonly known as “junk bonds”).
The Fund may invest in securities of any maturity, and there is no limit on the weighted average maturity of the Fund’s portfolio. The Fund does not have a duration target. However, under normal circumstances, the average portfolio duration varies from three to nine years. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security to changes in interest rates.
The Fund may sell securities and other instruments short provided that not more than 331/3% of its net assets is held as collateral for those transactions. Derivatives are used in an effort to hedge investments, for risk management or to increase income or gains for the Fund. The types of derivative instruments in which the Fund will principally invest are currency and other futures, forward contracts, options, and swap agreements (typically interest-rate swaps, index-linked swaps, total return swaps and credit default swaps).
Under normal circumstances, the majority of the Fund’s investments are denominated in U.S. dollars. However, the Fund has the flexibility to allocate up to 20% of its assets to securities denominated in foreign currencies. The Fund reserves the right to hedge its exposure to foreign currencies to reduce the risk of loss from fluctuations in currency exchange rates, but is under no obligation to do so under any circumstances.
The Fund may invest up to 10% of its total assets in a combination of convertible bonds, preferred stock, and common stock of domestic and foreign companies.
Read More

MWCSX - Performance

Return Ranking - Trailing

Period MWCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.3% -6.3% 2.6% 94.92%
1 Yr 0.7% -3.9% 7.9% 85.88%
3 Yr -3.8%* -10.1% 39.0% 79.31%
5 Yr 1.1%* -4.3% 26.0% 44.38%
10 Yr N/A* -0.5% 14.0% N/A

* Annualized

Return Ranking - Calendar

Period MWCSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.3% -5.6% 6.3% 42.37%
2022 -18.7% -28.7% 142.1% 44.89%
2021 -3.7% -12.3% 4.9% 36.42%
2020 5.5% -8.0% 10.6% 56.21%
2019 6.3% 4.3% 13.4% 97.48%

Total Return Ranking - Trailing

Period MWCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.3% -6.3% 2.6% 94.92%
1 Yr 0.7% -3.9% 7.9% 85.88%
3 Yr -3.8%* -10.1% 39.0% 79.31%
5 Yr 1.1%* -4.3% 26.0% 44.38%
10 Yr N/A* -0.5% 14.0% N/A

* Annualized

Total Return Ranking - Calendar

Period MWCSX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -5.6% 12.9% 58.19%
2022 -16.4% -25.6% 151.8% 65.34%
2021 -0.9% -5.1% 7.5% 58.38%
2020 13.0% -8.0% 116.0% 14.79%
2019 15.2% 6.7% 17.4% 20.75%

NAV & Total Return History

MWCSX - Holdings

Concentration Analysis

MWCSX Category Low Category High MWCSX % Rank
Net Assets 5.45 M 5.45 M 47.3 B 100.00%
Number of Holdings 263 4 9989 83.05%
Net Assets in Top 10 1.19 M -29.6 M 2.71 B 99.44%
Weighting of Top 10 21.78% 1.6% 143.5% 11.30%

Top 10 Holdings

  1. United States Treasury Note/Bond 5.63%
  2. United States Treasury Note/Bond 2.60%
  3. Bank of America Corp 2.02%
  4. MSILF Government Portfolio 1.96%
  5. United States Treasury Note/Bond 1.93%
  6. United States Treasury Note/Bond 1.80%
  7. Wells Fargo Co 1.69%
  8. T-Mobile USA Inc 1.47%
  9. HSBC Holdings PLC 1.38%
  10. Goldman Sachs Group Inc/The 1.29%

Asset Allocation

Weighting Return Low Return High MWCSX % Rank
Bonds 		98.68% 0.00% 136.47% 13.56%
Convertible Bonds 		2.71% 0.00% 78.47% 78.53%
Cash 		2.34% -43.80% 45.81% 58.19%
Other 		0.11% -1.14% 13.53% 61.02%
Stocks 		0.00% 0.00% 99.96% 87.57%
Preferred Stocks 		0.00% 0.00% 9.18% 88.70%

Bond Sector Breakdown

Weighting Return Low Return High MWCSX % Rank
Corporate 		87.66% 41.80% 100.00% 45.76%
Municipal 		3.62% 0.00% 3.62% 1.13%
Government 		2.77% 0.00% 25.63% 70.06%
Cash & Equivalents 		2.34% 0.00% 45.81% 37.29%
Securitized 		1.67% 0.00% 23.18% 41.24%
Derivative 		0.11% -0.21% 1.89% 32.20%

Bond Geographic Breakdown

Weighting Return Low Return High MWCSX % Rank
US 		98.68% 0.00% 109.04% 12.99%
Non US 		0.00% 0.00% 47.05% 90.40%

MWCSX - Expenses

Operational Fees

MWCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.93% 0.02% 46.23% 1.14%
Management Fee 0.40% 0.00% 1.35% 68.93%
12b-1 Fee 0.25% 0.00% 1.00% 48.68%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

MWCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MWCSX 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.

MWCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 148.00% 0.00% 259.00% 94.83%

MWCSX - Distributions

Dividend Yield Analysis

MWCSX Category Low Category High MWCSX % Rank
Dividend Yield 0.00% 0.00% 6.09% 75.71%

Dividend Distribution Analysis

MWCSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MWCSX Category Low Category High MWCSX % Rank
Net Income Ratio 2.01% 0.38% 5.93% 65.71%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MWCSX - Fund Manager Analysis

Managers

Bryan Whalen

Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

Bryan T. Whalen, CFA Group Managing Director U.S. Fixed Income Mr. Whalen is a Generalist Portfolio Manager in the U.S. Fixed Income Group. Mr. Whalen joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest) as co-head of the Securitized Products division. Prior to joining TCW, Mr. Whalen was a partner and co-head of MetWest's Securitized Products division. Prior to joining MetWest in 2004, he was a director in the fixed income department at Credit Suisse First Boston in New York. Previously, he was a vice president at Donaldson, Lufkin & Jenrette. Mr. Whalen earned a BA in Economics from Yale University. He is a CFA charterholder.

Jerry Cudzil

Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

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.

Tammy Karp

Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Ms. Karp is the managing Director of the TCW since August 1997. Ms. Karp manages the Investment Grade Credit Fundis a Corporate Trader in the U.S. Fixed Income group. Ms. Karp joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). At MetWest, she traded various corporate debt instruments including investment grade and cross over corporate bonds, a role similar to what she performs at TCW. Prior to joining MetWest in 1997, she was with the fixed income department at The Capital Group. Ms. Karp earned her BS in Business from University of Arizona.

Steven Purdy

Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

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
0.33 24.76 6.74 4.41

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