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Name

As of 04/18/2024

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 STRATEGIC INCOME FUND

MWSTX | Fund

$6.07

$75.5 M

0.00%

1.87%

Vitals

YTD Return

-0.1%

1 yr return

5.3%

3 Yr Avg Return

0.5%

5 Yr Avg Return

2.1%

Net Assets

$75.5 M

Holdings in Top 10

38.0%

52 WEEK LOW AND HIGH

$6.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 77.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/18/2024

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 STRATEGIC INCOME FUND

MWSTX | Fund

$6.07

$75.5 M

0.00%

1.87%

MWSTX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 9.71%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    METROPOLITAN WEST STRATEGIC INCOME FUND
  • Fund Family Name
    MetWest Funds
  • Inception Date
    Jun 30, 2003
  • Shares Outstanding
    N/A
  • Share Class
    M
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen Kane

Fund Description

The Fund pursues its objective by using techniques intended to provide absolute (positive) returns in all markets and employs a strategy intended to produce high income while exploiting disparities or inefficiencies in markets. The Fund focuses on inefficiencies related to secured or asset-backed debt compared with unsecured and subordinated debt or equity of companies and issuers. Additionally, the Fund focuses on longer-term cyclical anomalies in the fixed income markets to both enhance yield and realize potential price appreciation. These anomalies include shifts in the portfolio’s duration, yield curve anomalies, and sector and issue-specific dislocations.
The major strategies employed by the Adviser include relative value/arbitrage strategies (capital structure arbitrage, commodities/futures arbitrage, convertible arbitrage, and interest rate arbitrage), trading/market timing strategies (interest rate timing, yield curve relationship and arbitrage and sector and
issue allocations), income strategies, high yield investment strategies, long-short or market-neutral equity strategies and event driven and special situation strategies.
To implement some or all of these strategies, the Fund’s portfolio investments typically include corporate bonds, mezzanine investments, bank loans, preferred stock, common stock, warrants, convertible bonds, municipal securities, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), derivatives of asset-backed securities (including those involving net interest margins), other derivatives including credit default swaps and other swaps, currency futures and other futures, and options, foreign securities, U.S. Treasuries and agency securities, cash and cash equivalents, private placements, defaulted debt securities, restricted securities and unrated securities. The Fund’s fixed income investments may have interest rates that are fixed, variable or floating.
Under normal circumstances, the average dollar-weighted credit quality of the Fund’s long-term debt investments is investment grade or unrated and determined by the Adviser to be of comparable quality. The Fund may invest up to 50% of its assets in debt securities rated below investment grade (commonly known as “junk bonds”), or unrated and determined by the Adviser to be of comparable quality.
The Fund invests in the U.S. and abroad, including emerging markets. The Fund may invest up to 25% of its assets in foreign securities that are denominated in U.S. dollars. Investments in securities of foreign issuers that are not denominated in U.S. dollars are limited to a maximum of 30% of the Fund’s assets. The Fund may also invest up to 15% of its assets in emerging market securities. Derivatives are used in an effort to hedge investments, for risk management, or to increase income or gains for the Fund. The Fund may also seek to obtain market exposure to the securities in which it invests by entering into a series of purchase and sale contracts or by using other investment techniques.
The Fund may normally borrow or sell securities short each up to 331/3% of the value of its total assets.
Read More

MWSTX - Performance

Return Ranking - Trailing

Period MWSTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -12.7% 9.3% 51.00%
1 Yr 5.3% -9.6% 26.8% 47.30%
3 Yr 0.5%* -17.6% 17.9% 30.41%
5 Yr 2.1%* -13.4% 14.7% 40.68%
10 Yr 2.2%* -13.6% 6.5% 51.63%

* Annualized

Return Ranking - Calendar

Period MWSTX Return Category Return Low Category Return High Rank in Category (%)
2023 0.8% -12.0% 15.7% 76.70%
2022 -16.5% -31.8% 18.4% 79.27%
2021 -6.1% -26.6% 25.7% 93.79%
2020 -0.8% -49.2% 18.7% 70.04%
2019 1.5% -35.1% 15.3% 84.57%

Total Return Ranking - Trailing

Period MWSTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -12.7% 9.3% 51.00%
1 Yr 5.3% -9.6% 26.8% 47.30%
3 Yr 0.5%* -17.6% 17.9% 30.41%
5 Yr 2.1%* -13.4% 14.7% 40.68%
10 Yr 2.2%* -13.6% 6.5% 51.63%

* Annualized

Total Return Ranking - Calendar

Period MWSTX Return Category Return Low Category Return High Rank in Category (%)
2023 9.4% -7.0% 22.2% 29.78%
2022 -5.9% -31.8% 21.1% 29.59%
2021 2.7% -13.5% 49.9% 38.56%
2020 5.3% -28.6% 24.1% 53.55%
2019 6.3% -4.8% 19.1% 76.76%

NAV & Total Return History

MWSTX - Holdings

Concentration Analysis

MWSTX Category Low Category High MWSTX % Rank
Net Assets 75.5 M 2.53 M 143 B 86.78%
Number of Holdings 572 4 9868 43.99%
Net Assets in Top 10 29.1 M -1.57 B 65.8 B 82.65%
Weighting of Top 10 38.03% 0.7% 170.6% 32.20%

Top 10 Holdings

  1. United States Treasury Bill 12.88%
  2. United States Treasury Note/Bond 4.19%
  3. MSILF Government Portfolio 4.12%
  4. Fannie Mae or Freddie Mac 3.93%
  5. Dreyfus Government Cash Management 3.86%
  6. Fannie Mae or Freddie Mac 3.25%
  7. United States Treasury Note/Bond 1.87%
  8. Ginnie Mae 1.34%
  9. Federal Home Loan Bank Discount Notes 1.30%
  10. United States Treasury Bill 1.29%

Asset Allocation

Weighting Return Low Return High MWSTX % Rank
Bonds 		91.67% -150.81% 203.29% 39.12%
Other 		15.29% -62.91% 100.00% 17.50%
Cash 		8.02% -94.66% 258.91% 24.51%
Convertible Bonds 		1.45% 0.00% 33.50% 46.41%
Stocks 		0.10% -1.60% 99.88% 60.27%
Preferred Stocks 		0.00% 0.00% 30.46% 48.10%

Stock Sector Breakdown

Weighting Return Low Return High MWSTX % Rank
Real Estate 		100.00% 0.00% 100.00% 0.56%
Utilities 		0.00% 0.00% 100.00% 51.40%
Technology 		0.00% 0.00% 28.30% 40.45%
Industrials 		0.00% 0.00% 100.00% 56.18%
Healthcare 		0.00% 0.00% 18.60% 41.57%
Financial Services 		0.00% 0.00% 100.00% 58.71%
Energy 		0.00% 0.00% 100.00% 74.16%
Communication Services 		0.00% 0.00% 100.00% 48.88%
Consumer Defense 		0.00% 0.00% 99.97% 41.57%
Consumer Cyclical 		0.00% 0.00% 89.95% 52.25%
Basic Materials 		0.00% 0.00% 100.00% 43.54%

Stock Geographic Breakdown

Weighting Return Low Return High MWSTX % Rank
US 		0.10% -1.47% 99.88% 57.84%
Non US 		0.00% -0.13% 17.73% 24.20%

Bond Sector Breakdown

Weighting Return Low Return High MWSTX % Rank
Securitized 		59.92% 0.00% 99.65% 12.09%
Corporate 		33.11% 0.00% 96.66% 53.85%
Cash & Equivalents 		8.02% 0.00% 88.14% 20.31%
Government 		0.55% 0.00% 99.43% 81.63%
Municipal 		0.43% 0.00% 54.26% 22.45%
Derivative 		-0.03% -62.91% 37.37% 61.83%

Bond Geographic Breakdown

Weighting Return Low Return High MWSTX % Rank
US 		90.66% -151.11% 203.29% 27.25%
Non US 		1.01% 0.00% 67.77% 57.38%

MWSTX - Expenses

Operational Fees

MWSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.87% 0.01% 20.67% 20.79%
Management Fee 0.65% 0.00% 2.29% 57.25%
12b-1 Fee 0.25% 0.00% 1.00% 21.19%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

MWSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

MWSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 77.00% 0.00% 632.00% 46.51%

MWSTX - Distributions

Dividend Yield Analysis

MWSTX Category Low Category High MWSTX % Rank
Dividend Yield 0.00% 0.00% 23.30% 8.30%

Dividend Distribution Analysis

MWSTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

MWSTX Category Low Category High MWSTX % Rank
Net Income Ratio 9.71% -1.55% 11.51% 1.39%

Capital Gain Distribution Analysis

MWSTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

View More +

MWSTX - Fund Manager Analysis

Managers

Stephen Kane

Start Date

Tenure

Tenure Rank

Jun 30, 2003

18.93

18.9%

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.

Laird Landmann

Start Date

Tenure

Tenure Rank

Jun 30, 2003

18.93

18.9%

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 Whalen

Start Date

Tenure

Tenure Rank

Dec 31, 2004

17.42

17.4%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19

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