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Trending ETFs

Metropolitan West Sustainable Securitized Fund

mutual fund
MWERX
Payout Change
Pending
Price as of:
$8.6 -0.04 -0.46%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWERX) I (MWESX)
MWERX (Mutual Fund)

Metropolitan West Sustainable Securitized Fund

Payout Change
Pending
Price as of:
$8.6 -0.04 -0.46%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWERX) I (MWESX)
MWERX (Mutual Fund)

Metropolitan West Sustainable Securitized Fund

Payout Change
Pending
Price as of:
$8.6 -0.04 -0.46%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWERX) I (MWESX)

Name

As of 12/13/2024

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 Sustainable Securitized Fund

MWERX | Fund

$8.60

$6.75 M

5.28%

$0.46

4.16%

Vitals

YTD Return

9.3%

1 yr return

9.8%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

N/A

Net Assets

$6.75 M

Holdings in Top 10

17.3%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 4.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 276.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/13/2024

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 Sustainable Securitized Fund

MWERX | Fund

$8.60

$6.75 M

5.28%

$0.46

4.16%

MWERX - Profile

Distributions

  • YTD Total Return 9.3%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.97%
DIVIDENDS
  • Dividend Yield 5.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Metropolitan West Sustainable Securitized Fund
  • Fund Family Name
    TCW Family of Investment Companies
  • Inception Date
    Sep 30, 2021
  • Shares Outstanding
    N/A
  • Share Class
    M
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Harrison Choi

Fund Description

The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in debt securities issued by securitized vehicles and similar instruments that the Adviser believes satisfy its proprietary screening criteria that identify securities with one or more positive environmental, social or sustainable factors. The Fund will invest in securities issued by securitized vehicles including but not limited to residential mortgage-backed securities, commercial mortgage-backed securities, other asset backed securities, real estate related debt, mortgage pass-through securities, as well as floating, variable and fixed-rate securities. The Fund will invest in securities that are issued or guaranteed by the U.S. government or by any of its agencies or instrumentalities and those issued by non-governmental entities, as well as unguaranteed securities issued by private entities. Under normal circumstances, the Fund invests at least 80% of its net assets in securities rated investment grade or unrated securities determined by the Adviser to be of comparable quality. The Fund may also invest up to 20% of its assets in below investment grade bonds (“junk bonds”), which are bonds rated below BBB- by Fitch Ratings, Inc. (“Fitch”), below BBB- by S&P Global Ratings (“S&P”) and below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or,
if unrated, bonds deemed by the Fund’s investment advisor to be of comparable quality. The Fund may invest up to 15% of its total assets (measured at the time of investment) in asset-backed and mortgage-related securities rated below investment grade by Moody’s, S&P or Fitch, or, if unrated, determined by the Adviser to be of comparable quality.
In determining whether to buy or sell investments, the portfolio management team evaluates each investment idea based on, among other factors, the team’s view of its current income potential, risk level, capital appreciation potential, and how it fits within the Fund’s overall portfolio. The allocation of capital to sectors and securities is driven primarily by the Adviser’s assessment of relative value offered by each sector and security, respectively, with additional screening to determine whether securities meet the portfolio manager’s criteria to invest in securities with one or more positive environmental, social, or sustainable attributes.
In implementing its sustainable investment strategy, the Adviser evaluates potential investments based on a number of factors, including, but not limited to: support for affordable housing and community development, especially serving low- and moderate-income individuals and communities; mortgage-backed securities that support energy efficiency and broader “green” initiatives; certain non-mortgage related asset-backed securities, such as collateralized loan obligations with ESG-related exclusionary criteria; and commercial and consumer secured and unsecured debt related to sustainable initiatives, such as solar facilities. Governance review includes, but is not limited to, lending programs, borrower education and disclosure, origination policies, servicing practices, and securitization deal structure. The Adviser uses a combination of proprietary research, third-party data, and engagement with issuers, originators, industry standard setters, and others to assess the sustainable criteria of the assets and to understand the importance of these factors to an investment’s performance. Not all of these sources may be used in every instance. Evaluating sustainable attributes and risk factors is part of the investment analysis (alongside traditional financial metrics) and informed investment decision making with the goal of improving risk-adjusted returns, consistent with the Fund’s investment objective.
The Fund’s investments are not limited to securities labeled “sustainable” or “ESG.” An investment’s satisfaction of the Adviser’s criteria described above is based on the Adviser’s proprietary analysis and not that of a third party. The Fund may invest up to 20% of its net assets in securities that the Adviser does not consider to be sustainable investments.
Securities or other instruments may be sold for a number of reasons, including when the portfolio managers believe that (i) another security or instrument may offer a better investment opportunity, (ii) there has been a deterioration in the credit fundamentals of an issuer, (iii) an individual security or instrument has reached its sell target, (iv) the portfolio should be rebalanced for diversification or portfolio weighting purposes, or (v) the security no longer meets the Adviser’s sustainable criteria.
Under normal circumstances, the Fund’s portfolio duration is two to eight years and the Fund’s dollar-weighted average maturity ranges from two to fifteen years. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security to changes in interest rates.
The Fund invests in the U.S. and international securitized markets, including securities denominated in foreign currencies. The Fund has the flexibility to allocate up to 20% of its total assets to securities of foreign issues denominated in U.S. dollars or foreign currencies. The Fund reserves the right to hedge its exposure to foreign currencies to reduce the risk of loss from fluctuations in currency exchange rates, but is under no obligation to do so under any circumstances. Up to 10% of the Fund’s total assets may be invested in emerging markets and instruments that are economically tied to emerging market countries.
The Fund may normally borrow or sell securities short each up to 33 1/3% of the value of its total assets.
Read More

MWERX - Performance

Return Ranking - Trailing

Period MWERX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -4.6% 11.7% 0.41%
1 Yr 9.8% -2.4% 15.0% 0.52%
3 Yr -0.4%* -10.0% 28.5% 4.69%
5 Yr N/A* -7.2% 58.8% N/A
10 Yr N/A* -2.8% 74.0% N/A

* Annualized

Return Ranking - Calendar

Period MWERX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -16.2% 8.1% 77.23%
2022 -16.1% -34.7% 131.9% 52.02%
2021 N/A -11.6% 4.4% N/A
2020 N/A -9.9% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period MWERX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -4.6% 11.7% 0.41%
1 Yr 9.8% -2.4% 15.0% 0.52%
3 Yr -0.4%* -10.0% 28.5% 4.69%
5 Yr N/A* -7.2% 58.8% N/A
10 Yr N/A* -2.8% 74.0% N/A

* Annualized

Total Return Ranking - Calendar

Period MWERX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -11.3% 11.9% 28.79%
2022 -14.0% -32.2% 131.9% 61.28%
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History

MWERX - Holdings

Concentration Analysis

MWERX Category Low Category High MWERX % Rank
Net Assets 6.75 M 2.9 M 314 B 99.17%
Number of Holdings 156 1 17880 91.07%
Net Assets in Top 10 2.06 M 1.62 M 35.1 B 99.38%
Weighting of Top 10 17.29% 4.7% 3984.6% 74.97%

Top 10 Holdings

  1. United States Treasury Note/Bond 4.09%
  2. United States Treasury Note/Bond 1.78%
  3. Ginnie Mae 1.66%
  4. Freddie Mac Pool 1.59%
  5. Fannie Mae or Freddie Mac 1.45%
  6. Fannie Mae or Freddie Mac 1.41%
  7. Aligned Data Centers Issuer LLC 1.39%
  8. Fannie Mae REMICS 1.38%
  9. Freddie Mac Pool 1.32%
  10. DBUBS 2017-BRBK Mortgage Trust 1.23%

Asset Allocation

Weighting Return Low Return High MWERX % Rank
Bonds 		94.08% 0.00% 9231.88% 55.75%
Other 		10.80% -27.25% 1695.17% 23.57%
Cash 		0.26% -54.51% 237.69% 84.63%
Stocks 		0.00% 0.00% 99.98% 47.05%
Preferred Stocks 		0.00% 0.00% 72.34% 42.26%
Convertible Bonds 		0.00% 0.00% 7.93% 90.17%

Bond Sector Breakdown

Weighting Return Low Return High MWERX % Rank
Securitized 		82.93% 0.00% 98.40% 4.18%
Government 		12.75% 0.00% 86.23% 80.02%
Municipal 		1.12% 0.00% 100.00% 25.52%
Cash & Equivalents 		0.26% 0.00% 237.69% 80.48%
Derivative 		0.08% -6.56% 44.82% 31.67%
Corporate 		0.00% 0.00% 100.00% 99.16%

Bond Geographic Breakdown

Weighting Return Low Return High MWERX % Rank
US 		94.08% 0.00% 9042.62% 49.64%
Non US 		0.00% 0.00% 189.26% 50.99%

MWERX - Expenses

Operational Fees

MWERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 4.16% 0.01% 39.64% 1.04%
Management Fee 0.40% 0.00% 1.76% 63.59%
12b-1 Fee 0.25% 0.00% 1.00% 28.45%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

MWERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MWERX 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.

MWERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 276.00% 2.00% 493.39% 81.31%

MWERX - Distributions

Dividend Yield Analysis

MWERX Category Low Category High MWERX % Rank
Dividend Yield 5.28% 0.00% 10.11% 2.07%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MWERX Category Low Category High MWERX % Rank
Net Income Ratio 0.97% -1.28% 4.79% 89.05%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MWERX - Fund Manager Analysis

Managers

Harrison Choi

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Harrison Choi is a Managing Director for TCW Investment Management Company LLC and TCW LLC.

Stephen Kane

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

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.

Elizabeth Crawford

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Managing Director of the Metropolitan West Asset Management, LLC, has been with Metropolitan West Asset Management, LLC since 2015.

Mitchell Flack

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Mitchell 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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16

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