MWFEX: Metropolitan West Flexible Income I

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MWFEX Metropolitan West Flexible Income I


Profile

MWFEX - Profile

Vitals

  • YTD Return -4.8%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $7.51 M
  • Holdings in Top 10 13.7%

52 WEEK LOW AND HIGH

$9.75
$9.56
$10.93

Expenses

OPERATING RELATED FEES

  • Expense Ratio 8.82%

SALES FEES

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

BROKERAGE FEES

  • Turnover N/A

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $3,000,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return -4.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 7.16%
DIVIDENDS
  • Dividend Yield 5.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Metropolitan West Flexible Income Fund
  • Fund Family Name
    Metropolitan West Funds
  • Inception Date
    Nov 30, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stephen Kane

Fund Description

The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and instruments that generate income. These investments include securities issued in the U.S. and abroad by domestic and foreign corporations and governments, including emerging markets.


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Categories

Performance

MWFEX - Performance

Return Ranking - Trailing

Period MWFEX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -54.1% 2.9% 17.11%
1 Yr -9.5% -53.5% 152.8% 53.35%
3 Yr N/A* -35.9% 33.8% N/A
5 Yr N/A* -35.8% 18.3% N/A
10 Yr N/A* -6.0% 4.4% N/A

* Annualized

Return Ranking - Calendar

Period MWFEX Return Category Return Low Category Return High Rank in Category (%)
2019 1.3% -35.1% 156.4% 93.62%
2018 N/A -48.0% 0.8% N/A
2017 N/A -14.8% 11.2% N/A
2016 N/A -11.2% 19.1% N/A
2015 N/A -51.1% 4.0% N/A

Total Return Ranking - Trailing

Period MWFEX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -54.1% 2.9% 17.11%
1 Yr -9.5% -53.5% 154.8% 53.35%
3 Yr N/A* -35.9% 37.9% N/A
5 Yr N/A* -35.8% 22.2% N/A
10 Yr N/A* -6.0% 4.8% N/A

* Annualized

Total Return Ranking - Calendar

Period MWFEX Return Category Return Low Category Return High Rank in Category (%)
2019 1.3% -35.1% 158.4% 93.91%
2018 N/A -48.0% 4.8% N/A
2017 N/A -14.8% 14.0% N/A
2016 N/A -11.2% 22.5% N/A
2015 N/A -51.1% 4.0% N/A

NAV & Total Return History


Holdings

MWFEX - Holdings

Concentration Analysis

MWFEX Category Low Category High MWFEX % Rank
Net Assets 7.51 M 351 K 137 B 97.81%
Number of Holdings 238 6 7410 70.84%
Net Assets in Top 10 969 K -41 B 6.16 B 91.01%
Weighting of Top 10 13.70% 4.2% 214.0% 71.99%

Top 10 Holdings

  1. Federal Home Loan Mortgage Corporation 5.5% 1.52%
  2. Indymac MBS Inc 5.53162% 1.48%
  3. Government National Mortgage Association 4.55575% 1.45%
  4. Federal Home Loan Mortgage Corporation 2.27715% 1.42%
  5. Nelnet Student Loan Trust 2.91838% 1.39%
  6. Ramp Ser 2006-Efc2 2.23838% 1.38%
  7. Government National Mortgage Association 4.5225% 1.32%
  8. Lehman Mortgage Trust 4.32162% 1.32%
  9. Harborview Mtg Loan Trust 0.95479% 1.22%
  10. Impac CMB Trust 1.65551% 1.20%

Asset Allocation

Weighting Return Low Return High MWFEX % Rank
Bonds
94.58% 31.46% 195.17% 34.15%
Cash
4.89% -102.73% 49.23% 51.50%
Convertible Bonds
0.53% 0.00% 12.05% 66.76%
Stocks
0.00% -9.73% 27.98% 90.79%
Preferred Stocks
0.00% 0.00% 54.19% 95.91%
Other
0.00% -32.79% 30.50% 85.83%

Bond Sector Breakdown

Weighting Return Low Return High MWFEX % Rank
Securitized
66.31% 0.00% 99.12% 8.99%
Corporate
28.15% 0.00% 94.01% 72.48%
Cash & Equivalents
4.89% 0.62% 48.65% 62.13%
Government
0.65% 0.00% 99.36% 83.65%
Derivative
0.00% -1.18% 43.63% 92.10%
Municipal
0.00% 0.00% 36.27% 93.73%

Bond Geographic Breakdown

Weighting Return Low Return High MWFEX % Rank
US
90.19% 14.18% 194.76% 17.71%
Non US
4.39% -15.80% 72.18% 85.29%

Expenses

MWFEX - Expenses

Operational Fees

MWFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 8.82% 0.06% 24.26% 1.39%
Management Fee 0.45% 0.00% 2.25% 19.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

MWFEX 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% 5.50% N/A

Trading Fees

MWFEX 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.

MWFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 472.00% 59.10%

Distributions

MWFEX - Distributions

Dividend Yield Analysis

MWFEX Category Low Category High MWFEX % Rank
Dividend Yield 5.50% 0.00% 6.17% 0.52%

Dividend Distribution Analysis

MWFEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MWFEX Category Low Category High MWFEX % Rank
Net Income Ratio 7.16% 0.87% 10.10% 2.49%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

MWFEX - Fund Manager Analysis

Managers

Stephen Kane


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.25

1.3%

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

Nov 30, 2018

1.25

1.3%

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


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.25

1.3%

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.

Laird Landmann


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.25

1.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 28.81 5.54 3.67