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MWTRX Metropolitan West Total Return Bd M

  • Fund
  • MWTRX
  • Price as of: Sep 20, 2019
  • $11.04 + $0.02 + 0.18%

MWTRX - Profile

Vitals

  • YTD Return 6.3%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return 0.4%
  • Net Assets $79.4 B
  • Holdings in Top 10 27.6%

52 WEEK LOW AND HIGH

$11.04
$10.18
$11.18

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.67%

SALES FEES

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

BROKERAGE FEES

  • Turnover 255.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000

IRA

$1,000

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Core-Plus Bond

Distributions

  • YTD Total Return 6.3%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.68%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Metropolitan West Total Return Bond Fund
  • Fund Family Name Metropolitan West Funds
  • Inception Date Mar 31, 1997
  • Shares Outstanding N/A
  • Share Class M
  • Currency USD
  • Domiciled Country United States
  • Manager Tad Rivelle

Fund Description

The Metropolitan West Total Return Bond Fund Class M (MWTRX) is an intermediate-term bond fund. The fund is actively managed and provides a high level of total return interest income and capital appreciation of the underlying bonds. MWTRX achieves this by applying a rigorous credit analysis to find undervalued fixed-income IOUs. The fund can invest in government debt, corporate bonds, junk bonds, and a wide range of other U.S.-domiciled bonds.

Given its average expenses and total return mandate, investors can use MWTRX as a bond fund enhancer or subcore position. The fund is managed by Metropolitan West Asset Management, LLC.

MWTRX - Performance

Return Ranking - Trailing

Period MWTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -0.4% 20.0% 23.15%
1 Yr 7.1% -5.7% 17.2% 11.09%
3 Yr 0.1%* -3.2% 8.5% 33.16%
5 Yr 0.4%* -14.7% 3.8% 22.56%
10 Yr 1.3%* -8.6% 6.5% 7.99%

* Annualized


Return Ranking - Calendar

Period MWTRX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.5% -13.7% 6.9% 51.63%
2017 1.1% -6.5% 21.2% 47.17%
2016 -0.8% -58.1% 8.6% 53.56%
2015 -2.7% -24.0% 2.6% 76.38%
2014 3.4% -60.4% 83.0% 37.08%

Total Return Ranking - Trailing

Period MWTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -0.4% 20.0% 24.52%
1 Yr 7.1% -4.8% 17.2% 14.38%
3 Yr 0.6%* -3.2% 8.6% 24.21%
5 Yr 1.0%* -14.7% 5.9% 20.60%
10 Yr 2.1%* -8.6% 7.0% 12.63%

* Annualized


Total Return Ranking - Calendar

Period MWTRX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.5% -13.7% 6.9% 60.40%
2017 1.1% -6.5% 27.0% 56.82%
2016 0.7% -58.1% 10.7% 34.54%
2015 -1.6% -14.6% 4.2% 67.44%
2014 3.7% -60.4% 83.0% 41.74%

NAV & Total Return History

MWTRX - Holdings

Concentration Analysis

MWTRX Category Low Category High MWTRX % Rank
Net Assets 79.4 B 701 K 241 B 0.29%
Number of Holdings 1841 1 17412 5.69%
Net Assets in Top 10 21.9 B -179 M 22.6 B 0.15%
Weighting of Top 10 27.61% 2.5% 215.9% 35.49%

Top 10 Holdings

  1. United States Treasury Notes 2% 5.62%

  2. United States Treasury Notes 1.75% 3.93%

  3. United States Treasury Notes 1.75% 3.60%

  4. United States Treasury Bonds 2.88% 3.33%

  5. United States Treasury Notes 1.25% 2.76%

  6. United States Treasury Bonds 2.25% 2.65%

  7. United States Treasury Notes 2.62% 1.59%

  8. United States Treasury Notes 2.12% 1.58%

  9. Federal National Mortgage Association 3% 1.31%

  10. United States Treasury Notes 1.62% 1.26%


Asset Allocation

Weighting Return Low Return High MWTRX % Rank
Bonds
99.65% 80.17% 131.40% 22.79%
Convertible Bonds
0.36% 0.00% 6.30% 34.79%
Stocks
0.03% -14.50% 14.08% 6.20%
Preferred Stocks
0.00% -1.25% 4.13% 20.24%
Other
0.00% -16.03% 27.53% 15.13%
Cash
-0.05% -37.85% 22.95% 86.58%

Stock Sector Breakdown

Weighting Return Low Return High MWTRX % Rank
Utilities
0.00% 0.00% 24.74% 17.11%
Technology
0.00% 0.00% 21.18% 12.70%
Real Estate
0.00% 0.00% 19.91% 15.51%
Industrials
0.00% 0.00% 34.84% 19.65%
Healthcare
0.00% 0.00% 38.22% 18.45%
Financial Services
0.00% 0.00% 22.00% 27.54%
Energy
0.00% 0.00% 9.51% 35.96%
Communication Services
0.00% 0.00% 18.86% 16.04%
Consumer Defense
0.00% 0.00% 9.55% 13.77%
Consumer Cyclical
0.00% 0.00% 22.53% 18.32%
Basic Materials
0.00% 0.00% 10.36% 16.31%

Stock Geographic Breakdown

Weighting Return Low Return High MWTRX % Rank
US
0.03% -14.50% 12.26% 5.98%
Non US
0.00% 0.00% 4.63% 9.15%

Bond Sector Breakdown

Weighting Return Low Return High MWTRX % Rank
Securitized
43.35% 0.00% 141.25% 14.41%
Government
32.56% -74.40% 253.85% 20.71%
Corporate
23.47% -1.23% 99.47% 42.41%
Municipal
0.64% 0.00% 106.42% 58.79%
Derivative
0.00% -125.90% 27.06% 14.59%
Cash & Equivalents
-0.05% -37.85% 22.95% 85.63%

Bond Geographic Breakdown

Weighting Return Low Return High MWTRX % Rank
US
96.77% 66.38% 150.14% 34.87%
Non US
2.88% -43.03% 26.38% 54.45%

MWTRX - Expenses

Operational Fees

MWTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.67% 0.00% 209.96% 60.72%
Management Fee 0.35% 0.00% 1.25% 34.25%
12b-1 Fee 0.21% 0.00% 1.00% 29.59%
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

MWTRX 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 0.00% 5.50% N/A

Trading Fees

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

MWTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 255.00% 0.00% 1856.00% 92.32%

MWTRX - Distributions

Dividend Yield Analysis

MWTRX Category Low Category High MWTRX % Rank
Dividend Yield 1.32% 0.00% 95.52% 53.43%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

MWTRX Category Low Category High MWTRX % Rank
Net Income Ratio 2.68% -0.18% 4.99% 41.13%

Capital Gain Distribution Analysis

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

MWTRX - Managers

Tad Rivelle

Manager

Start Date

Tenure

Tenure Rank

Mar 31, 1997

22.43

22.4%

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 R. Landmann

Manager

Start Date

Tenure

Tenure Rank

Mar 31, 1997

22.43

22.4%

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.


Stephen M. Kane

Manager

Start Date

Tenure

Tenure Rank

Mar 31, 1997

22.43

22.4%

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 T. Whalen

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2004

14.67

14.7%

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.


Tenure Analysis

Category Low

0.0

Category High

39.94

Category Average

7.48

Category Mode

7.29