MWUIX: Metropolitan West Ultra Short Bond I

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MWUIX Metropolitan West Ultra Short Bond I

  • Fund
  • MWUIX
  • Price as of: Dec 12, 2019
  • $4.26
    - $0.00 - 0.00%

Profile

MWUIX - Profile

Vitals

  • YTD Return 0.0%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -0.2%
  • Net Assets $99.6 M
  • Holdings in Top 10 33.2%

52 WEEK LOW AND HIGH

$4.26
$4.25
$4.28

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.56%

SALES FEES

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

BROKERAGE FEES

  • Turnover 172.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.27%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Metropolitan West Ultra Short Bond Fund
  • Fund Family Name
    Metropolitan West Funds
  • Inception Date
    Jul 30, 2004
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Tad Rivelle

Fund Description

The fund pursues its objective by investing at least 90% of its net assets in investment grade fixed income securities or unrated securities that are determined by the Adviser to be of comparable quality. Up to 10% of the fund's net assets may be invested in securities rated below investment grade. It also invests at least 80% of its net assets plus borrowings for investment purposes in fixed income securities it regards as bonds. Under normal conditions, the portfolio duration is up to one year and the dollar-weighted average maturity typically exceeds one year.


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Categories

Performance

MWUIX - Performance

Return Ranking - Trailing

Period MWUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -0.2% 83.9% 99.78%
1 Yr 0.2% -0.2% 26.6% 99.50%
3 Yr -0.1%* -2.1% 9.4% 95.74%
5 Yr -0.2%* -14.7% 6.6% 79.69%
10 Yr 0.9%* -8.6% 8.5% 46.79%

* Annualized

Return Ranking - Calendar

Period MWUIX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.2% -12.4% 0.8% 3.98%
2017 0.0% -2.8% 17.1% 80.62%
2016 -0.2% -58.1% 8.6% 46.13%
2015 -0.5% -18.3% 3.0% 31.03%
2014 0.0% -60.4% 26.9% 80.02%

Total Return Ranking - Trailing

Period MWUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -0.2% 83.9% 99.78%
1 Yr 0.2% -5.2% 26.6% 99.06%
3 Yr -0.1%* -2.1% 9.4% 96.27%
5 Yr -0.2%* -14.7% 6.6% 82.92%
10 Yr 0.9%* -8.6% 8.5% 55.74%

* Annualized

Total Return Ranking - Calendar

Period MWUIX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.2% -11.7% 6.5% 9.48%
2017 0.0% -2.7% 27.0% 83.57%
2016 -0.1% -58.1% 10.7% 48.06%
2015 -0.5% -14.6% 4.2% 40.19%
2014 0.0% -60.4% 26.9% 84.29%

NAV & Total Return History


Holdings

MWUIX - Holdings

Concentration Analysis

MWUIX Category Low Category High MWUIX % Rank
Net Assets 99.6 M 691 K 247 B 85.85%
Number of Holdings 253 2 17572 54.99%
Net Assets in Top 10 33.3 M -203 M 25.7 B 77.76%
Weighting of Top 10 33.21% 2.5% 138.1% 23.77%

Top 10 Holdings

  1. United States Treasury Notes 1.5% 10.05%
  2. United States Treasury Notes 1.5% 6.35%
  3. United States Treasury Notes 1.5% 6.25%
  4. United States Treasury Notes 1.86% 5.09%
  5. Bank of America Corporation 2.37% 1.75%
  6. NCUA Guaranteed Notes Trust 2010-R1 2.44% 0.83%
  7. Federal Home Loan Mortgage Corporation 2.67% 0.77%
  8. Federal Home Loan Mortgage Corporation 2.52% 0.75%
  9. Federal National Mortgage Association 2.72% 0.69%
  10. Government National Mortgage Association 2.31% 0.68%

Asset Allocation

Weighting Return Low Return High MWUIX % Rank
Bonds
82.33% 80.25% 160.29% 99.57%
Cash
17.31% -60.29% 28.73% 0.36%
Convertible Bonds
0.36% 0.00% 6.26% 35.99%
Stocks
0.00% -17.64% 26.52% 16.04%
Preferred Stocks
0.00% 0.00% 8.19% 23.56%
Other
0.00% -36.80% 29.62% 17.64%

Bond Sector Breakdown

Weighting Return Low Return High MWUIX % Rank
Securitized
33.77% 0.00% 136.75% 24.66%
Government
27.74% -86.06% 125.74% 23.20%
Corporate
21.19% 0.00% 98.80% 44.19%
Cash & Equivalents
17.30% -60.29% 28.73% 0.36%
Derivative
0.00% -25.78% 41.91% 16.89%
Municipal
0.00% 0.00% 149.42% 77.62%

Bond Geographic Breakdown

Weighting Return Low Return High MWUIX % Rank
US
79.88% 60.74% 157.48% 90.91%
Non US
2.45% -27.08% 24.33% 54.42%

Expenses

MWUIX - Expenses

Operational Fees

MWUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.00% 209.96% 73.06%
Management Fee 0.25% 0.00% 1.25% 12.08%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

MWUIX 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

MWUIX 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.

MWUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 172.00% 0.00% 2053.00% 86.63%

Distributions

MWUIX - Distributions

Dividend Yield Analysis

MWUIX Category Low Category High MWUIX % Rank
Dividend Yield 0.87% 0.00% 96.19% 54.81%

Dividend Distribution Analysis

MWUIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MWUIX Category Low Category High MWUIX % Rank
Net Income Ratio 2.27% 0.00% 6.30% 66.45%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

MWUIX - Fund Manager Analysis

Managers

Tad Rivelle


Start Date

Tenure

Tenure Rank

Jun 30, 2003

16.43

16.4%

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.

Stephen M. Kane


Start Date

Tenure

Tenure Rank

Jun 30, 2003

16.43

16.4%

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.

Laird R. Landmann


Start Date

Tenure

Tenure Rank

Jun 30, 2003

16.43

16.4%

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.

Mitchell A. Flack


Start Date

Tenure

Tenure Rank

Jun 30, 2003

16.43

16.4%

Mr. Flack joined Metropolitan West Asset Management, which is a wholly-owned subsidiary of The TCW Group, Inc. (“TCW Group”), in March 2001. Prior to joining that, he was a Managing Director at Bear Stearns & Co. He was also with Bankers Trust, where he marketed derivative products to financial institutions. Prior to that, he served as Senior Vice President and Chief Investment Officer of Southern California Savings. He began his career with Weyerhaeuser Mortgage Company. Mr. Flack holds a bachelor's degree in Business Economics from the University of California, Santa Barbara and an MBA from the University of Chicago Booth School of Business.

Bryan T. Whalen


Start Date

Tenure

Tenure Rank

Dec 31, 2004

14.92

14.9%

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
0.0 33.02 7.69 7.54