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MWCIX Metropolitan West Unconstrained Bd I

  • Fund
  • MWCIX
  • Price as of: Jun 05, 2019
  • $11.85 - $0.00 - 0.00%
  • Category
  • Total Bond Market

MWCIX - Profile

Vitals

  • YTD Return 1.9%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return -0.2%
  • Net Assets $3.14 B
  • Holdings in Top 10 5.8%

52 WEEK LOW AND HIGH

$11.85
$11.62
$11.85

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.73%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 62.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000,000

IRA

N/A

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.77%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Metropolitan West Unconstrained Bond Fund
  • Fund Family Name Metropolitan West Funds
  • Inception Date Sep 30, 2011
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Laird R. Landmann

MWCIX - Performance

Return Ranking - Trailing

Period MWCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -3.3% 10.0% 72.15%
1 Yr 0.8% -16.1% 6.8% 73.77%
3 Yr 0.1%* -4.3% 44.5% 30.02%
5 Yr -0.2%* -6.2% 23.5% 39.65%
10 Yr N/A* -7.3% 15.9% N/A

* Annualized


Return Ranking - Calendar

Period MWCIX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -22.2% 3.1% 42.31%
2017 1.1% -5.1% 25.1% 47.62%
2016 0.9% -8.5% 192.8% 39.39%
2015 -1.8% -33.0% 3.0% 34.21%
2014 1.4% -29.8% 32.1% 40.16%

Total Return Ranking - Trailing

Period MWCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -3.3% 10.5% 73.02%
1 Yr 0.8% -16.1% 9.6% 77.75%
3 Yr 0.3%* -4.3% 49.7% 38.72%
5 Yr -0.1%* -3.8% 28.8% 49.08%
10 Yr N/A* -7.3% 18.7% N/A

* Annualized


Total Return Ranking - Calendar

Period MWCIX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -22.2% 7.9% 52.23%
2017 1.3% -4.6% 25.1% 52.04%
2016 1.2% -4.1% 204.3% 44.64%
2015 -1.8% -32.4% 4.2% 48.03%
2014 1.4% -29.8% 32.1% 50.89%

NAV & Total Return History

MWCIX - Holdings

Concentration Analysis

MWCIX Category Low Category High MWCIX % Rank
Net Assets 3.14 B 337 K 218 B 29.89%
Number of Holdings 867 3 17333 27.18%
Net Assets in Top 10 178 M -1.98 B 29.3 B 55.83%
Weighting of Top 10 5.75% 4.0% 1535.2% 98.73%

Top 10 Holdings

  1. Federal National Mortgage Association 3.73% 0.73%

  2. Wells Fargo Commercial Mortgage Trust 4.39% 0.69%

  3. Navient Student Loan Trust 2017-3 3.54% 0.60%

  4. Federal National Mortgage Association 3.16% 0.56%

  5. Federal Home Loan Mortgage Corporation 3.02% 0.53%

  6. Federal National Mortgage Association 3.82% 0.53%

  7. NAVIENT STUDENT LOAN TRUST 3.64% 0.53%

  8. Greenpoint Mtg Fdg 2.69% 0.53%

  9. Banc America Fdg 2015-R3 2.66% 0.53%

  10. Federal National Mortgage Association 3.21% 0.52%


Asset Allocation

Weighting Return Low Return High MWCIX % Rank
Bonds
90.15% -248.60% 340.77% 77.55%
Cash
9.67% -246.66% 358.29% 16.72%
Convertible Bonds
0.12% 0.00% 18.42% 67.82%
Stocks
0.06% -0.99% 97.68% 16.99%
Preferred Stocks
0.00% 0.00% 20.33% 35.51%
Other
0.00% -98.75% 57.15% 31.98%

Bond Sector Breakdown

Weighting Return Low Return High MWCIX % Rank
Securitized
58.24% 0.00% 102.58% 11.21%
Corporate
29.54% 0.00% 128.48% 60.88%
Cash & Equivalents
9.67% -547.52% 359.78% 13.22%
Government
1.84% -91.96% 178.24% 84.78%
Municipal
0.65% 0.00% 102.07% 30.11%
Derivative
0.00% -207.30% 299.06% 24.03%

Bond Geographic Breakdown

Weighting Return Low Return High MWCIX % Rank
US
83.29% -245.97% 218.41% 47.50%
Non US
6.86% -108.37% 122.36% 70.42%

MWCIX - Expenses

Operational Fees

MWCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% 0.00% 38.42% 61.23%
Management Fee 0.65% 0.00% 2.15% 89.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

MWCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

MWCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Turnover 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.

MWCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 62.00% 0.00% 2337.00% 38.91%

MWCIX - Distributions

Dividend Yield Analysis

MWCIX Category Low Category High MWCIX % Rank
Dividend Yield 0.03% 0.00% 6.64% 30.09%

Dividend Distribution Analysis

MWCIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

MWCIX Category Low Category High MWCIX % Rank
Net Income Ratio 2.77% -2.82% 7.22% 33.58%

Capital Gain Distribution Analysis

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

MWCIX - Managers

Laird R. Landmann

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2011

7.67

7.7%

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.


Bryan T. Whalen

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2011

7.67

7.7%

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.


Tad Rivelle

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2011

7.67

7.7%

Tad Rivelle Group Managing Director Chief Investment Officer–Fixed Income Co-Director Fixed Income Tad Rivelle is Chief Investment Officer, Fixed Income. Prior to joining TCW, Tad served as Chief Investment Officer for MetWest, an independent institutional investment manager that he cofounded. The MetWest investment team has been recognized for a number of performance related awards, including Morningstar’s Fixed Income Manager of the Year. Mr. Rivelle was also the co-director of fixed income at Hotchkis & Wiley and a portfolio manager at PIMCO. Tad holds a BS in Physics from Yale University, an MS in Applied Mathematics from University of Southern California, and an MBA from the UCLA Anderson School of Management.


Stephen M. Kane

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2011

7.67

7.7%

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.


Tenure Analysis

Category Low

0.0

Category High

30.43

Category Average

6.96

Category Mode

7.04