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METROPOLITAN WEST ALPHA TRAK 500 FUND
mutual fund
MWATX
Payout Change
Pending
Price as of:
$13.38
+0.08
+0.6%
primary theme
U.S. Large-Cap Blend Equity
share class
MWATX (Mutual Fund)
METROPOLITAN WEST ALPHA TRAK 500 FUND
Payout Change
Pending
Price as of:
$13.38
+0.08
+0.6%
primary theme
U.S. Large-Cap Blend Equity
share class
MWATX (Mutual Fund)
METROPOLITAN WEST ALPHA TRAK 500 FUND
Payout Change
Pending
Price as of:
$13.38
+0.08
+0.6%
primary theme
U.S. Large-Cap Blend Equity
share class
Name
As of 10/11/2024Price
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
Vitals
YTD Return
24.3%
1 yr return
40.6%
3 Yr Avg Return
10.9%
5 Yr Avg Return
15.8%
Net Assets
$29.7 M
Holdings in Top 10
38.1%
52 WEEK LOW AND HIGH
$13.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.22%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 94.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
MWATX - Profile
Distributions
- YTD Total Return 24.3%
- 3 Yr Annualized Total Return 10.9%
- 5 Yr Annualized Total Return 15.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.78%
- Dividend Yield 4.5%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameMETROPOLITAN WEST ALPHA TRAK 500 FUND
-
Fund Family NameTCW Family of Investment Companies
-
Inception DateJun 29, 1998
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Kane
Fund Description
The Fund is an enhanced S&P 500 Index fund that combines a fixed-income portfolio with non‑leveraged investments in S&P 500 Index futures. The Adviser actively manages the fixed-income portfolio in an effort to produce an investment return that, when combined with the Fund’s return on the S&P 500 Index futures, will exceed the total return of the S&P 500 Index. The Fund may also use S&P 500 swap contracts or exchange-traded funds (ETFs) that track the S&P 500 Index together or in lieu of the S&P 500 Index futures. The Fund is not designed for investors that are sensitive to taxable gains.
The Fund pursues its objective by investing, under normal circumstances, in S&P 500 Index futures contracts with a contractual or “notional” value substantially equal to the Fund’s total assets and in fixed-income securities. The Fund typically makes margin deposits with futures commission merchants with a total value equal to approximately 4% to 5% of the notional value of the futures contracts and invests the rest of its assets in a diversified portfolio of fixed-income securities of varying maturities issued by domestic and foreign corporations, mortgage-related issuers and governments. The portfolio duration is up to three years and the dollar-weighted average maturity is up to five years. Under normal circumstances, at least 85% of the Fund’s fixed
income investments are securities rated at least investment grade or unrated securities determined by the Adviser to be of comparable quality. Up to 15% of the Fund’s fixed income investments may be invested in securities rated below investment grade (commonly known as “junk bonds”).
The Fund invests in the U.S. and abroad, including emerging markets. The Fund may invest up to 15% of its assets in securities of foreign issuers that are not denominated in U.S. dollars. The Fund may invest up to 15% of its assets in emerging market securities.
The Fund’s investments typically include bonds, notes, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), bank loans, U.S. and non‑U.S. money market securities, swaps (including credit default swaps), futures, options, private placements, defaulted debt securities and restricted securities. The Fund’s investments may have interest rates that are fixed, variable or floating.
The Fund may normally borrow or sell securities short up to 25% of the value of its total assets.
MWATX - Performance
Return Ranking - Trailing
| Period | MWATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.3% | -59.4% | 39.1% | 11.83% |
| 1 Yr | 40.6% | -54.9% | 57.0% | 3.65% |
| 3 Yr | 10.9%* | -23.6% | 17.2% | 36.18% |
| 5 Yr | 15.8%* | -7.7% | 111.4% | 26.68% |
| 10 Yr | 14.5%* | 0.6% | 53.3% | 2.94% |
* Annualized
Return Ranking - Calendar
| Period | MWATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 21.9% | -42.6% | 47.4% | 34.52% |
| 2022 | -24.5% | -56.3% | -4.2% | 76.12% |
| 2021 | -2.4% | -27.2% | 537.8% | 95.10% |
| 2020 | 9.3% | -22.5% | 2181.7% | 65.23% |
| 2019 | 21.0% | -13.5% | 40.4% | 63.98% |
Total Return Ranking - Trailing
| Period | MWATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.3% | -59.4% | 39.1% | 11.83% |
| 1 Yr | 40.6% | -54.9% | 57.0% | 3.65% |
| 3 Yr | 10.9%* | -23.6% | 17.2% | 36.18% |
| 5 Yr | 15.8%* | -7.7% | 111.4% | 26.68% |
| 10 Yr | 14.5%* | 0.6% | 53.3% | 2.94% |
* Annualized
Total Return Ranking - Calendar
| Period | MWATX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 30.1% | -5.0% | 47.4% | 6.09% |
| 2022 | -21.1% | -36.8% | -2.2% | 88.39% |
| 2021 | 28.5% | 3.0% | 537.8% | 25.66% |
| 2020 | 19.3% | -15.8% | 2266.0% | 29.08% |
| 2019 | 34.0% | -0.4% | 241.3% | 5.79% |
NAV & Total Return History
MWATX - Holdings
Concentration Analysis
| MWATX | Category Low | Category High | MWATX % Rank | |
|---|---|---|---|---|
| Net Assets | 29.7 M | 2.34 M | 1.55 T | 96.19% |
| Number of Holdings | 247 | 2 | 4002 | 30.36% |
| Net Assets in Top 10 | 11.1 M | 979 K | 517 B | 96.44% |
| Weighting of Top 10 | 38.06% | 0.3% | 112.9% | 44.07% |
Top 10 Holdings
- iShares Core SP 500 ETF 13.58%
- United States Treasury Note/Bond 5.62%
- MSILF Government Portfolio 4.78%
- Dreyfus Government Cash Management 4.76%
- United States Treasury Note/Bond 2.61%
- United States Treasury Bill 1.72%
- Fannie Mae or Freddie Mac 1.45%
- Wells Fargo Co 1.20%
- Fannie Mae or Freddie Mac 1.18%
- Ginnie Mae 1.17%
Asset Allocation
| Weighting | Return Low | Return High | MWATX % Rank | |
|---|---|---|---|---|
| Bonds | 73.87% | 0.00% | 94.06% | 0.97% |
| Stocks | 13.68% | 0.00% | 105.85% | 98.38% |
| Other | 10.26% | -13.91% | 100.00% | 1.70% |
| Cash | 9.63% | 0.00% | 99.07% | 1.38% |
| Convertible Bonds | 3.76% | 0.00% | 5.54% | 0.32% |
| Preferred Stocks | 0.00% | 0.00% | 2.53% | 13.77% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MWATX % Rank | |
|---|---|---|---|---|
| Technology | 24.45% | 0.00% | 48.94% | 46.58% |
| Healthcare | 14.47% | 0.00% | 52.29% | 46.41% |
| Financial Services | 13.41% | 0.00% | 55.59% | 50.29% |
| Consumer Cyclical | 10.73% | 0.00% | 30.33% | 48.31% |
| Communication Services | 8.81% | 0.00% | 27.94% | 38.50% |
| Industrials | 8.22% | 0.00% | 29.90% | 68.10% |
| Consumer Defense | 6.90% | 0.00% | 47.71% | 47.32% |
| Energy | 4.79% | 0.00% | 41.64% | 33.31% |
| Utilities | 2.98% | 0.00% | 20.91% | 26.71% |
| Real Estate | 2.77% | 0.00% | 31.91% | 47.90% |
| Basic Materials | 2.47% | 0.00% | 25.70% | 53.26% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MWATX % Rank | |
|---|---|---|---|---|
| US | 13.68% | 0.00% | 105.85% | 98.38% |
| Non US | 0.00% | 0.00% | 64.54% | 28.50% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MWATX % Rank | |
|---|---|---|---|---|
| Securitized | 41.53% | 0.00% | 52.16% | 0.34% |
| Corporate | 34.21% | 0.00% | 100.00% | 2.12% |
| Cash & Equivalents | 9.63% | 0.00% | 100.00% | 4.79% |
| Government | 3.36% | 0.00% | 100.00% | 3.99% |
| Municipal | 1.92% | 0.00% | 2.10% | 0.17% |
| Derivative | 0.30% | -1.75% | 26.55% | 6.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MWATX % Rank | |
|---|---|---|---|---|
| US | 73.87% | 0.00% | 94.06% | 0.57% |
| Non US | 0.00% | 0.00% | 14.23% | 6.56% |
MWATX - Expenses
Operational Fees
| MWATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.22% | 0.01% | 19.75% | 24.04% |
| Management Fee | 0.40% | 0.00% | 1.90% | 35.72% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 1.79% |
| Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
| MWATX 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% | 5.00% | N/A |
Trading Fees
| MWATX 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.
| MWATX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 94.00% | 0.00% | 268.00% | 90.90% |
MWATX - Distributions
Dividend Yield Analysis
| MWATX | Category Low | Category High | MWATX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.48% | 0.00% | 25.47% | 25.00% |
Dividend Distribution Analysis
| MWATX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MWATX | Category Low | Category High | MWATX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.78% | -54.00% | 2.44% | 44.75% |
Capital Gain Distribution Analysis
| MWATX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.150 | OrdinaryDividend |
| Mar 28, 2024 | $0.130 | OrdinaryDividend |
| Dec 29, 2023 | $0.110 | OrdinaryDividend |
| Dec 13, 2023 | $0.013 | CapitalGainShortTerm |
| Dec 13, 2023 | $0.176 | CapitalGainLongTerm |
| Sep 29, 2023 | $0.110 | OrdinaryDividend |
| Jun 30, 2023 | $0.110 | OrdinaryDividend |
| Mar 31, 2023 | $0.080 | OrdinaryDividend |
| Dec 30, 2022 | $0.083 | OrdinaryDividend |
| Dec 13, 2022 | $0.013 | CapitalGainShortTerm |
| Dec 13, 2022 | $0.176 | CapitalGainLongTerm |
| Sep 30, 2022 | $0.065 | OrdinaryDividend |
| Jun 30, 2022 | $0.045 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Dec 31, 2021 | $0.019 | OrdinaryDividend |
| Dec 07, 2021 | $1.412 | CapitalGainShortTerm |
| Dec 07, 2021 | $2.165 | CapitalGainLongTerm |
| Sep 30, 2021 | $0.040 | OrdinaryDividend |
| Jun 30, 2021 | $0.042 | OrdinaryDividend |
| Mar 31, 2021 | $0.045 | OrdinaryDividend |
| Dec 31, 2020 | $0.048 | OrdinaryDividend |
| Dec 08, 2020 | $0.281 | CapitalGainShortTerm |
| Dec 08, 2020 | $0.466 | CapitalGainLongTerm |
| Sep 30, 2020 | $0.059 | OrdinaryDividend |
| Jun 30, 2020 | $0.050 | OrdinaryDividend |
| Mar 31, 2020 | $0.080 | OrdinaryDividend |
| Dec 31, 2019 | $0.080 | OrdinaryDividend |
| Dec 27, 2019 | $0.100 | CapitalGainLongTerm |
| Dec 10, 2019 | $0.379 | CapitalGainShortTerm |
| Dec 10, 2019 | $0.332 | CapitalGainLongTerm |
| Sep 30, 2019 | $0.075 | OrdinaryDividend |
| Jun 28, 2019 | $0.064 | OrdinaryDividend |
| Mar 29, 2019 | $0.060 | OrdinaryDividend |
| Dec 31, 2018 | $0.065 | OrdinaryDividend |
| Sep 28, 2018 | $0.065 | OrdinaryDividend |
| Jun 29, 2018 | $0.040 | OrdinaryDividend |
| Mar 29, 2018 | $0.020 | OrdinaryDividend |
| Dec 29, 2017 | $0.030 | OrdinaryDividend |
| Sep 29, 2017 | $0.023 | OrdinaryDividend |
| Jun 30, 2017 | $0.015 | OrdinaryDividend |
| Mar 31, 2017 | $0.010 | OrdinaryDividend |
| Dec 30, 2016 | $0.050 | OrdinaryDividend |
| Sep 30, 2016 | $0.055 | OrdinaryDividend |
| Jun 30, 2016 | $0.040 | OrdinaryDividend |
| Mar 31, 2016 | $0.030 | OrdinaryDividend |
| Dec 31, 2015 | $0.008 | OrdinaryDividend |
| Dec 31, 2014 | $0.008 | OrdinaryDividend |
| Sep 30, 2014 | $0.010 | OrdinaryDividend |
| Jun 30, 2014 | $0.040 | OrdinaryDividend |
| Mar 31, 2014 | $0.020 | OrdinaryDividend |
| Dec 31, 2013 | $0.009 | OrdinaryDividend |
| Sep 30, 2013 | $0.020 | OrdinaryDividend |
| Jun 28, 2013 | $0.030 | OrdinaryDividend |
| Mar 28, 2013 | $0.009 | OrdinaryDividend |
| Dec 31, 2012 | $0.015 | OrdinaryDividend |
| Sep 28, 2012 | $0.020 | OrdinaryDividend |
| Jun 29, 2012 | $0.020 | OrdinaryDividend |
| Jun 30, 2011 | $0.167 | OrdinaryDividend |
| Mar 31, 2011 | $0.165 | OrdinaryDividend |
| Jun 30, 2010 | $0.101 | OrdinaryDividend |
| Mar 31, 2010 | $0.050 | OrdinaryDividend |
| Dec 31, 2009 | $1.380 | OrdinaryDividend |
| Dec 14, 2009 | $0.224 | CapitalGainShortTerm |
| Sep 30, 2009 | $0.060 | OrdinaryDividend |
| Jun 30, 2009 | $0.061 | OrdinaryDividend |
| Jun 30, 2008 | $0.035 | OrdinaryDividend |
| Dec 31, 2007 | $0.250 | OrdinaryDividend |
| Dec 13, 2007 | $0.047 | CapitalGainShortTerm |
| Dec 13, 2007 | $0.288 | CapitalGainLongTerm |
| Sep 28, 2007 | $0.103 | OrdinaryDividend |
| Jun 29, 2007 | $0.091 | OrdinaryDividend |
| Mar 30, 2007 | $0.091 | OrdinaryDividend |
| Dec 29, 2006 | $0.350 | OrdinaryDividend |
| Sep 29, 2006 | $0.094 | OrdinaryDividend |
| Jun 30, 2006 | $0.071 | OrdinaryDividend |
| Mar 30, 2006 | $0.049 | OrdinaryDividend |
| Dec 30, 2005 | $0.182 | OrdinaryDividend |
| Sep 30, 2005 | $0.069 | OrdinaryDividend |
| Jun 30, 2005 | $0.086 | OrdinaryDividend |
| Mar 31, 2005 | $0.045 | OrdinaryDividend |
| Dec 30, 2004 | $0.072 | OrdinaryDividend |
| Oct 01, 2004 | $0.063 | OrdinaryDividend |
| Jul 01, 2004 | $0.058 | OrdinaryDividend |
| Mar 31, 2004 | $0.061 | OrdinaryDividend |
| Dec 30, 2003 | $0.060 | OrdinaryDividend |
| Sep 30, 2003 | $0.059 | OrdinaryDividend |
| Jun 30, 2003 | $0.055 | OrdinaryDividend |
| Mar 31, 2003 | $0.063 | OrdinaryDividend |
| Dec 30, 2002 | $0.064 | OrdinaryDividend |
| Oct 01, 2002 | $0.085 | OrdinaryDividend |
| Jul 01, 2002 | $0.105 | OrdinaryDividend |
| Apr 01, 2002 | $0.107 | OrdinaryDividend |
| Dec 28, 2001 | $0.106 | OrdinaryDividend |
MWATX - Fund Manager Analysis
Managers
Stephen Kane
Start Date
Tenure
Tenure Rank
Jun 29, 1998
23.94
23.9%
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.
Bryan Whalen
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
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.
Ruben Hovhannisyan
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Bret Barker
Start Date
Tenure
Tenure Rank
Dec 31, 2021
0.41
0.4%
Mr. Barker is a Specialist Portfolio Manager – Treasuries in the U.S. Fixed Income group. Mr. Barker joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). He is responsible for the portfolio management of Treasuries, TIPS, agencies, money market instruments, and derivatives. In conjunction with the generalist portfolio managers, he implements decisions on duration and yield curve positioning across all MetWest and several TCW products. Prior to joining MetWest in 1997, he worked at Coast Asset Management in their futures and options department. Mr. Barker earned a BBA in Business with a minor in classical studies from Loyola Marymount University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 39.02 | 7.24 | 2.42 |
