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Name

As of 04/23/2024

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 ALPHA TRAK 500 FUND

MWATX | Fund

$11.76

$29.7 M

3.79%

$0.44

1.30%

Vitals

YTD Return

6.8%

1 yr return

25.3%

3 Yr Avg Return

7.1%

5 Yr Avg Return

12.9%

Net Assets

$29.7 M

Holdings in Top 10

44.3%

52 WEEK LOW AND HIGH

$11.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 94.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

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 ALPHA TRAK 500 FUND

MWATX | Fund

$11.76

$29.7 M

3.79%

$0.44

1.30%

MWATX - Profile

Distributions

  • YTD Total Return 6.8%
  • 3 Yr Annualized Total Return 7.1%
  • 5 Yr Annualized Total Return 12.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.78%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    METROPOLITAN WEST ALPHA TRAK 500 FUND
  • Fund Family Name
    MetWest Funds
  • Inception Date
    Jun 29, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen Kane

Fund Description

The Fund is an enhanced S&P 500 Index fund that combines a fixed-income portfolio with non-leveraged investments in S&P 500 Index futures. The Adviser actively manages the fixed-income portfolio in an effort to produce an investment return that, when combined with the Fund’s return on the S&P 500 Index futures, will exceed the total return of the S&P 500 Index. The Fund may also use S&P 500 swap contracts or exchange-traded funds (ETFs) that track the S&P 500 Index together or in lieu of the S&P 500 Index futures. The Fund is not designed for investors that are sensitive to taxable gains.
The Fund pursues its objective by investing, under normal circumstances, in S&P 500 Index futures contracts with a contractual or “notional” value substantially equal to the Fund’s total assets and in fixed-income securities. The Fund typically makes margin deposits with futures commission merchants with a total value equal to approximately 4% to 5% of the notional value of the futures contracts and invests the rest of its assets in a diversified portfolio of fixed-income securities of varying maturities issued by domestic and foreign corporations, mortgage-related issuers and governments. The portfolio duration is up to three years and the dollar-weighted average maturity is up to five years. Under normal circumstances, at least 85% of the Fund’s fixed
income investments are securities rated at least investment grade or unrated securities determined by the Adviser to be of comparable quality. Up to 15% of the Fund’s fixed income investments may be invested in securities rated below investment grade (commonly known as “junk bonds”).
The Fund invests in the U.S. and abroad, including emerging markets. The Fund may invest up to 15% of its assets in securities of foreign issuers that are not denominated in U.S. dollars. The Fund may invest up to 15% of its assets in emerging market securities.
The Fund’s investments typically include 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, U.S. and non-U.S. money market securities, swaps (including credit default swaps), futures, options, private placements, defaulted debt securities and restricted securities. The Fund’s investments may have interest rates that are fixed, variable or floating.
The Fund may normally borrow or sell securities short up to 25% of the value of its total assets.
Read More

MWATX - Performance

Return Ranking - Trailing

Period MWATX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -3.2% 11.2% 39.74%
1 Yr 25.3% -1.1% 41.3% 22.04%
3 Yr 7.1%* -12.2% 26.8% 49.67%
5 Yr 12.9%* -9.7% 105.9% 30.43%
10 Yr 12.8%* -0.3% 20.3% 3.26%

* Annualized

Return Ranking - Calendar

Period MWATX Return Category Return Low Category Return High Rank in Category (%)
2023 21.9% -42.6% 47.4% 34.16%
2022 -24.5% -56.3% -4.2% 75.76%
2021 -2.4% -27.2% 53.7% 95.10%
2020 9.3% -36.2% 2181.7% 65.22%
2019 21.0% -22.7% 40.4% 63.11%

Total Return Ranking - Trailing

Period MWATX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -3.2% 11.2% 39.74%
1 Yr 25.3% -1.1% 41.3% 22.04%
3 Yr 7.1%* -12.2% 26.8% 49.67%
5 Yr 12.9%* -9.7% 105.9% 30.43%
10 Yr 12.8%* -0.3% 20.3% 3.26%

* Annualized

Total Return Ranking - Calendar

Period MWATX Return Category Return Low Category Return High Rank in Category (%)
2023 30.1% -5.0% 47.4% 6.00%
2022 -21.1% -36.8% -2.2% 88.52%
2021 28.5% 3.0% 124.3% 25.39%
2020 19.3% -15.8% 2266.0% 28.58%
2019 34.0% -0.4% 241.3% 5.69%

NAV & Total Return History

MWATX - Holdings

Concentration Analysis

MWATX Category Low Category High MWATX % Rank
Net Assets 29.7 M 2.34 M 1.55 T 95.68%
Number of Holdings 242 1 4053 30.50%
Net Assets in Top 10 12.5 M 885 K 387 B 94.89%
Weighting of Top 10 44.35% 0.3% 112.0% 16.10%

Top 10 Holdings

  1. iShares Core SP 500 ETF 16.53%
  2. United States Treasury Bill 12.19%
  3. SP500 EMINI 3.09%
  4. Fannie Mae or Freddie Mac 2.84%
  5. Fannie Mae or Freddie Mac 2.05%
  6. MSILF Government Portfolio 1.95%
  7. Fannie Mae or Freddie Mac 1.85%
  8. HSBC Holdings PLC 1.38%
  9. Ginnie Mae 1.24%
  10. Fannie Mae or Freddie Mac 1.23%

Asset Allocation

Weighting Return Low Return High MWATX % Rank
Bonds 		79.51% -0.50% 93.78% 0.55%
Stocks 		16.61% 0.00% 124.03% 98.19%
Other 		14.46% -13.91% 100.00% 1.73%
Convertible Bonds 		3.76% 0.00% 5.54% 0.32%
Cash 		2.03% 0.00% 99.06% 32.23%
Preferred Stocks 		0.00% 0.00% 2.38% 30.97%

Stock Sector Breakdown

Weighting Return Low Return High MWATX % Rank
Technology 		24.45% 0.00% 48.94% 47.20%
Healthcare 		14.47% 0.00% 60.70% 47.84%
Financial Services 		13.41% 0.00% 55.59% 50.48%
Consumer Cyclical 		10.73% 0.00% 30.33% 48.96%
Communication Services 		8.81% 0.00% 27.94% 38.64%
Industrials 		8.22% 0.00% 29.90% 69.44%
Consumer Defense 		6.90% 0.00% 47.71% 47.84%
Energy 		4.79% 0.00% 41.64% 33.12%
Utilities 		2.98% 0.00% 20.91% 26.88%
Real Estate 		2.77% 0.00% 31.91% 48.32%
Basic Materials 		2.47% 0.00% 25.70% 54.16%

Stock Geographic Breakdown

Weighting Return Low Return High MWATX % Rank
US 		16.61% 0.00% 124.03% 98.19%
Non US 		0.00% 0.00% 62.81% 42.06%

Bond Sector Breakdown

Weighting Return Low Return High MWATX % Rank
Securitized 		41.53% 0.00% 52.16% 0.33%
Corporate 		34.21% 0.00% 100.00% 1.98%
Government 		3.36% 0.00% 100.00% 4.04%
Derivative 		3.09% -3.07% 18.04% 2.76%
Cash & Equivalents 		2.03% 0.00% 100.00% 33.39%
Municipal 		1.92% 0.00% 2.10% 0.16%

Bond Geographic Breakdown

Weighting Return Low Return High MWATX % Rank
US 		79.51% -0.50% 93.78% 0.55%
Non US 		0.00% 0.00% 10.46% 24.92%

MWATX - Expenses

Operational Fees

MWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.30% 0.01% 16.07% 21.52%
Management Fee 0.40% 0.00% 1.89% 35.23%
12b-1 Fee 0.00% 0.00% 1.00% 6.29%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

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

Trading Fees

MWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

MWATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.00% 0.00% 496.00% 90.74%

MWATX - Distributions

Dividend Yield Analysis

MWATX Category Low Category High MWATX % Rank
Dividend Yield 3.79% 0.00% 26.27% 24.51%

Dividend Distribution Analysis

MWATX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

MWATX Category Low Category High MWATX % Rank
Net Income Ratio 0.78% -54.00% 6.06% 44.46%

Capital Gain Distribution Analysis

MWATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

MWATX - Fund Manager Analysis

Managers

Stephen Kane

Start Date

Tenure

Tenure Rank

Jun 29, 1998

23.94

23.9%

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.

Bryan Whalen

Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

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.

Ruben Hovhannisyan

Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

Bret Barker

Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

Mr. Barker is a Specialist Portfolio Manager – Treasuries in the U.S. Fixed Income group. Mr. Barker joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). He is responsible for the portfolio management of Treasuries, TIPS, agencies, money market instruments, and derivatives. In conjunction with the generalist portfolio managers, he implements decisions on duration and yield curve positioning across all MetWest and several TCW products. Prior to joining MetWest in 1997, he worked at Coast Asset Management in their futures and options department. Mr. Barker earned a BBA in Business with a minor in classical studies from Loyola Marymount University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.24 2.42

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