TCW Flexible Income ETF
Name
As of 11/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$437 M
Holdings in Top 10
24.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FLXR - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 6.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameTCW Flexible Income ETF
-
Fund Family NameTCW Family of Investment Companies
-
Inception DateNov 30, 2018
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to pursue its objective by utilizing a flexible investment approach that allocates investments across a range of global investment opportunities related to credit, currencies and interest rates.
The Fund has latitude to invest in a diversified mix of fixed income securities across a wide array of sectors, the credit quality spectrum and maturity profiles. The Fund will invest, under normal circumstances, at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in fixed income securities and instruments that generate income, in accordance with Rule 35d-1 under the Investment Company Act of 1940, as amended (the “1940 Act”). These investments include securities issued in the U.S. and abroad by domestic and foreign corporations and governments, including emerging markets. If the Fund changes this investment policy, it will notify shareholders in writing at least 60 days in advance of the change. The Fund may invest in both investment grade and high yield fixed income securities (commonly known as “junk bonds”), subject to investing no more than 65% of its total assets (measured at the time of investment) in securities rated below investment grade (commonly known as “junk bonds”) by Moody’s Investors Service, Inc. (“Moody’s”), S&P Global Ratings (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or unrated securities determined by the Adviser to be of comparable quality.
The Fund may invest in securities of any maturity, and there is no limit on the weighted average maturity of the Fund’s portfolio. Maturity refers to the date when a bond’s principal is repaid with interest. The Fund does not have a duration target. However, under normal circumstances, the average portfolio duration varies from zero to eight years. Duration is a measure that is used to determine the price sensitivity of a fixed income security to changes in interest rates.
Investments in the Fund include various types of bonds and debt securities, including corporate bonds, notes, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), bank loans, municipal securities, U.S. and non-U.S. money market securities, defaulted debt securities, private placements and restricted securities. The Fund’s fixed income investments may have interest rates that are fixed, variable or floating. The Fund may invest up to 35% of its total assets (measured at the time of investment) in asset-backed and mortgage-related securities rated below investment grade by Moody’s, S&P or Fitch, or, if unrated, determined by the Adviser to be of comparable quality.
The Fund may invest in foreign securities, and up to 50% of the Fund’s total assets may be invested in emerging markets and instruments that are economically tied to emerging market countries. 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 limits on investments in securities rated below investment grade.
The Fund normally limits its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to 40% of its total assets. 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 20% of its total assets in a combination of convertible bonds, preferred stock, and common stock of domestic and foreign companies.
The portfolio management team evaluates each investment idea based on, among other factors, the team’s view of its current income potential, risk level, capital appreciation potential, and how it fits within the Fund’s overall portfolio in determining whether to buy or sell investments. The Adviser allocates the Fund’s assets in response to, among other factors, changing market, financial, economic, and political factors and events that the Fund’s portfolio managers believe may affect the values of the Fund’s investments. The allocation of capital to sectors and securities within each sector in the Fund is driven primarily by the Adviser’s assessment of relative value offered by each sector and security, respectively.
The Adviser seeks to actively manage the Fund’s risks on an on-going basis to mitigate the risks of excessive losses by the Fund’s portfolio overall. In managing portfolio risk, the Adviser takes into consideration its view of the following factors, among others: the potential relative performance of various market sectors, security selection available within a given sector, the risk/reward equation for different asset classes, liquidity conditions in various market sectors, the shape of the yield curve and projections for changes in the yield curve, potential fluctuations in the overall level of interest rates, and current monetary and fiscal policy.
The Fund may sell securities and other instruments short provided that not more than 33⅓% 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 primarily currency and other futures, forward contracts, options, and swap agreements (typically interest rate swaps, index-linked swaps, total return swaps and credit default swaps). The Fund may engage in active and frequent trading of portfolio securities to achieve its objective.
FLXR - Performance
Return Ranking - Trailing
Period | FLXR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | FLXR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | FLXR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FLXR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
FLXR - Holdings
Concentration Analysis
FLXR | Category Low | Category High | FLXR % Rank | |
---|---|---|---|---|
Net Assets | 437 M | N/A | N/A | N/A |
Number of Holdings | 869 | N/A | N/A | N/A |
Net Assets in Top 10 | 84.4 M | N/A | N/A | N/A |
Weighting of Top 10 | 24.40% | N/A | N/A | N/A |
Top 10 Holdings
- State Street Institutional US Government Money Market Fund 7.44%
- Uniform Mortgage-Backed Security, TBA 2.88%
- U.S. Treasury Notes 2.50%
- Uniform Mortgage-Backed Security, TBA 2.34%
- Uniform Mortgage-Backed Security, TBA 1.83%
- U.S. Treasury Bills 1.79%
- Uniform Mortgage-Backed Security, TBA 1.46%
- Freddie Mac Pool 1.43%
- U.S. Treasury Bills 1.42%
- Uniform Mortgage-Backed Security, TBA 1.30%
Asset Allocation
Weighting | Return Low | Return High | FLXR % Rank | |
---|---|---|---|---|
Bonds | 87.58% | N/A | N/A | N/A |
Other | 16.47% | N/A | N/A | N/A |
Cash | 11.58% | N/A | N/A | N/A |
Stocks | 0.19% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | FLXR % Rank | |
---|---|---|---|---|
Utilities | 0.00% | N/A | N/A | N/A |
Technology | 0.00% | N/A | N/A | N/A |
Real Estate | 0.00% | N/A | N/A | N/A |
Industrials | 0.00% | N/A | N/A | N/A |
Healthcare | 0.00% | N/A | N/A | N/A |
Financial Services | 0.00% | N/A | N/A | N/A |
Energy | 0.00% | N/A | N/A | N/A |
Communication Services | 0.00% | N/A | N/A | N/A |
Consumer Defense | 0.00% | N/A | N/A | N/A |
Consumer Cyclical | 0.00% | N/A | N/A | N/A |
Basic Materials | 0.00% | N/A | N/A | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FLXR % Rank | |
---|---|---|---|---|
US | 0.19% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | FLXR % Rank | |
---|---|---|---|---|
Cash & Equivalents | 11.58% | N/A | N/A | N/A |
Derivative | 0.32% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FLXR % Rank | |
---|---|---|---|---|
US | 85.64% | N/A | N/A | N/A |
Non US | 1.94% | N/A | N/A | N/A |
FLXR - Expenses
Operational Fees
FLXR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.40% | N/A | N/A | N/A |
Management Fee | 0.40% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
FLXR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
FLXR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
FLXR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
FLXR - Distributions
Dividend Yield Analysis
FLXR | Category Low | Category High | FLXR % Rank | |
---|---|---|---|---|
Dividend Yield | 6.20% | N/A | N/A | N/A |
Dividend Distribution Analysis
FLXR | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
Net Income Ratio Analysis
FLXR | Category Low | Category High | FLXR % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
FLXR | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 01, 2024 | $0.200 | OrdinaryDividend |
Oct 01, 2024 | $0.200 | OrdinaryDividend |
Sep 03, 2024 | $0.240 | OrdinaryDividend |
Aug 01, 2024 | $0.250 | OrdinaryDividend |
Jul 01, 2024 | $0.135 | OrdinaryDividend |