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Trending ETFs

Metropolitan West Investment Grade Credit Fund

mutual fund
MWIGX
Payout Change
Pending
Price as of:
$7.82 -0.01 -0.13%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWISX) I (MWIGX)
MWIGX (Mutual Fund)

Metropolitan West Investment Grade Credit Fund

Payout Change
Pending
Price as of:
$7.82 -0.01 -0.13%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWISX) I (MWIGX)
MWIGX (Mutual Fund)

Metropolitan West Investment Grade Credit Fund

Payout Change
Pending
Price as of:
$7.82 -0.01 -0.13%
primary theme
U.S. Intermediate-Term Bond Duration
share class
M (MWISX) I (MWIGX)

Name

As of 12/11/2024

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 Investment Grade Credit Fund

MWIGX | Fund

$7.82

$15.4 M

3.92%

$0.31

2.31%

Vitals

YTD Return

5.1%

1 yr return

7.2%

3 Yr Avg Return

0.3%

5 Yr Avg Return

1.8%

Net Assets

$15.4 M

Holdings in Top 10

33.3%

52 WEEK LOW AND HIGH

$7.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 345.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$3,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/11/2024

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 Investment Grade Credit Fund

MWIGX | Fund

$7.82

$15.4 M

3.92%

$0.31

2.31%

MWIGX - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.79%
DIVIDENDS
  • Dividend Yield 3.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Metropolitan West Investment Grade Credit Fund
  • Fund Family Name
    TCW Family of Investment Companies
  • Inception Date
    Jun 29, 2018
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bryan Whalen

Fund Description

The Fund pursues its objective by utilizing a flexible investment approach that allocates investments across a range of fixed income sectors. Satisfying the Fund’s objective would require it to achieve positive total returns over a full market cycle, i.e., a period of time generally understood to be contained between two consecutive periods of heightened default activity within the global fixed income markets. Total return includes income and capital gains.
The Fund invests, under normal circumstances, at least 90% of its net assets in investment grade fixed income securities or unrated securities 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 (commonly known as “junk bonds”) or unrated securities determined by the Adviser to be of comparable quality. The emerging market fixed-income securities in which the Fund may invest are not subject to any minimum credit quality standards, so long as the value of those investments does not cause the Fund to exceed its limit on investments in securities rated below investment grade.
The Fund invests, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in securities and instruments it regards as bonds in the U.S. and abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations and governments. A bond is a security or instrument having one or more of the following characteristics: a fixed-income security, a security issued at a discount to its face value, a security that pays interest or a security with a stated principal amount that requires repayment of some or all of that principal amount to the holder of the security. The term “bond” is interpreted broadly by the Adviser as an instrument or security evidencing a promise to pay some amount rather than evidencing the corporate ownership of equity, unless that equity represents an indirect or derivative interest in one or more bonds. Bonds for this purpose also include bank loans and instruments that are intended to provide one or more of the characteristics of a direct investment in one or more bonds. The Adviser focuses the Fund’s portfolio holdings in areas of the bond market that the Adviser believes to be relatively undervalued, based on its analysis of quality, sector, coupon or maturity, and that the Adviser believes offer attractive prospective risk-adjusted returns compared to other segments of the bond market.
The portfolio management team evaluates each investment idea based on the team’s view of, among other factors, its potential total return, its risk level and how it fits within the Fund’s overall portfolio in determining whether to buy or sell investments. The Adviser allocates the Fund’s assets in response to, among other considerations, changing market, financial, economic, and political factors and events that the Fund’s portfolio managers believe may affect the values of the Fund’s investments. The allocation of capital to sectors and securities within each sector in the Fund is driven primarily by the Adviser’s assessment of relative value offered by each sector and security, respectively.
The Adviser seeks to actively manage the Fund’s risks on an on‑going basis to mitigate the risks of excessive losses by the portfolio overall. In managing portfolio risk, the Adviser takes into consideration its view of the following factors, among others: the potential relative performance of various market sectors, security selection available within a given sector, the risk/reward equation for different asset classes, liquidity conditions in various market sectors, the shape of the yield curve and projections for changes in the yield curve, potential fluctuations in the overall level of interest rates, and current monetary and fiscal policy.
The Fund may invest in securities of any maturity, and there is no limit on the weighted average maturity of the Fund’s portfolio. The Fund does not have a duration target. However, under normal circumstances, the average portfolio duration varies from two to eight 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’s investments include various types of bonds and debt securities, including corporate 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, municipal securities, U.S. and non‑U.S. money market securities, private placements and restricted securities. The Fund’s fixed income investments may have interest rates that are fixed, variable or floating.
The Fund may sell securities and other instruments short provided that not more than 33 1/3% of its net assets is held as collateral for those transactions. Derivatives are used in an effort to hedge investments, for risk management or to increase income or gains for the Fund. The types of derivative instruments in which the Fund will principally invest are currency and other futures, forward contracts, options, and swap agreements (typically interest-rate swaps, index-linked swaps, total return swaps and credit default swaps).
Under normal circumstances, the majority of the Fund’s investments are denominated in U.S. dollars. However, the Fund has the flexibility to allocate up to 20% of its assets to securities denominated in 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.
The Fund may invest up to 10% of its total assets in a combination of convertible bonds, preferred stock, and common stock of domestic and foreign companies.
Read More

MWIGX - Performance

Return Ranking - Trailing

Period MWIGX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -4.6% 11.7% 7.88%
1 Yr 7.2% -2.4% 15.0% 20.41%
3 Yr 0.3%* -10.0% 28.5% 3.30%
5 Yr 1.8%* -7.2% 58.8% 4.73%
10 Yr N/A* -2.8% 74.0% N/A

* Annualized

Return Ranking - Calendar

Period MWIGX Return Category Return Low Category Return High Rank in Category (%)
2023 1.3% -16.2% 8.1% 80.46%
2022 -18.0% -34.7% 131.9% 88.94%
2021 -5.2% -11.6% 4.4% 94.33%
2020 -1.1% -9.9% 946.1% 97.58%
2019 -1.2% -1.7% 16.9% 99.52%

Total Return Ranking - Trailing

Period MWIGX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -4.6% 11.7% 7.88%
1 Yr 7.2% -2.4% 15.0% 20.41%
3 Yr 0.3%* -10.0% 28.5% 3.30%
5 Yr 1.8%* -7.2% 58.8% 4.73%
10 Yr N/A* -2.8% 74.0% N/A

* Annualized

Total Return Ranking - Calendar

Period MWIGX Return Category Return Low Category Return High Rank in Category (%)
2023 8.3% -11.3% 11.9% 2.70%
2022 -10.3% -32.2% 131.9% 5.21%
2021 0.1% -9.4% 9.2% 21.25%
2020 9.1% -1.9% 1009.0% 30.61%
2019 10.6% 1.1% 21668.0% 9.24%

NAV & Total Return History

MWIGX - Holdings

Concentration Analysis

MWIGX Category Low Category High MWIGX % Rank
Net Assets 15.4 M 2.9 M 314 B 98.76%
Number of Holdings 417 1 17880 71.44%
Net Assets in Top 10 9.26 M 1.62 M 35.1 B 96.26%
Weighting of Top 10 33.26% 4.7% 3984.6% 26.07%

Top 10 Holdings

  1. United States Treasury Note/Bond 9.59%
  2. United States Treasury Note/Bond 9.42%
  3. Fannie Mae or Freddie Mac 2.92%
  4. United States Treasury Note/Bond 1.99%
  5. United States Treasury Note/Bond 1.97%
  6. Fannie Mae or Freddie Mac 1.67%
  7. United States Treasury Note/Bond 1.61%
  8. Fannie Mae or Freddie Mac 1.55%
  9. Bank of America Corp 1.38%
  10. Fannie Mae or Freddie Mac 1.17%

Asset Allocation

Weighting Return Low Return High MWIGX % Rank
Bonds 		108.20% 0.00% 9231.88% 12.44%
Other 		3.58% -27.25% 1695.17% 55.66%
Convertible Bonds 		2.36% 0.00% 7.93% 20.08%
Cash 		0.49% -54.51% 237.69% 82.97%
Stocks 		0.00% 0.00% 99.98% 76.37%
Preferred Stocks 		0.00% 0.00% 72.34% 73.10%

Bond Sector Breakdown

Weighting Return Low Return High MWIGX % Rank
Corporate 		62.53% 0.00% 100.00% 1.57%
Securitized 		28.70% 0.00% 98.40% 53.56%
Municipal 		5.83% 0.00% 100.00% 7.32%
Government 		0.71% 0.00% 86.23% 96.13%
Cash & Equivalents 		0.49% 0.00% 237.69% 77.36%
Derivative 		0.09% -6.56% 44.82% 31.36%

Bond Geographic Breakdown

Weighting Return Low Return High MWIGX % Rank
US 		106.19% 0.00% 9042.62% 12.88%
Non US 		2.01% 0.00% 189.26% 20.56%

MWIGX - Expenses

Operational Fees

MWIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.31% 0.01% 39.64% 2.51%
Management Fee 0.35% 0.00% 1.76% 48.90%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

MWIGX 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

MWIGX 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.

MWIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 345.00% 2.00% 493.39% 87.26%

MWIGX - Distributions

Dividend Yield Analysis

MWIGX Category Low Category High MWIGX % Rank
Dividend Yield 3.92% 0.00% 10.11% 3.21%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MWIGX Category Low Category High MWIGX % Rank
Net Income Ratio 4.79% -1.28% 4.79% 0.11%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MWIGX - Fund Manager Analysis

Managers

Bryan Whalen

Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

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.

Laird Landmann

Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

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.

Stephen Kane

Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

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.

Tenure Analysis

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

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