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METROPOLITAN WEST STRATEGIC INCOME FUND
MWSIX (Mutual Fund)
METROPOLITAN WEST STRATEGIC INCOME FUND
Name
As of 12/11/2024Price
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
7.2%
1 yr return
9.0%
3 Yr Avg Return
2.9%
5 Yr Avg Return
3.1%
Net Assets
$75.5 M
Holdings in Top 10
10.0%
52 WEEK LOW AND HIGH
$6.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.23%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 77.00%
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 12/11/2024Price
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
MWSIX - Profile
Distributions
- YTD Total Return 7.2%
- 3 Yr Annualized Total Return 2.9%
- 5 Yr Annualized Total Return 3.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 10.06%
- Dividend Yield 8.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMETROPOLITAN WEST STRATEGIC INCOME FUND
-
Fund Family NameTCW Family of Investment Companies
-
Inception DateMar 31, 2004
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerLaird Landmann
Fund Description
The Fund pursues its objective by utilizing a flexible investment approach that allocates investments across a range of global investment opportunities related to credit, currencies and interest rates. 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, but the Fund’s strategy is also intended to produce high income.
To implement some or all of these strategies, the Fund’s portfolio investments typically include corporate bonds, mezzanine investments, bank loans, preferred stock, common stock, warrants, convertible bonds, municipal securities, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), derivatives of asset-backed securities (including those involving net interest margins), other derivatives including credit default swaps and other swaps, currency
futures and other futures, and options, foreign securities, U.S. Treasuries and agency securities, cash and cash equivalents, private placements, defaulted debt securities, restricted securities and unrated securities. The Fund’s fixed income investments may have interest rates that are fixed, variable or floating.
Under normal circumstances, the average dollar-weighted credit quality of the Fund’s long-term debt investments is investment grade or unrated and determined by the Adviser to be of comparable quality. The Fund may invest up to 50% of its assets in debt securities rated below investment grade (commonly known as “junk bonds”), or unrated and determined by the Adviser to be of comparable quality.
The Fund invests in the U.S. and abroad, including emerging markets. The Fund may invest up to 25% of its assets in foreign securities that are denominated in U.S. dollars. Investments in securities of foreign issuers that are not denominated in U.S. dollars are limited to a maximum of 30% of the Fund’s assets. The Fund may also invest up to 15% of its assets in emerging market securities. Derivatives are used in an effort to hedge investments, for risk management, or to increase income or gains for the Fund. The Fund may also seek to obtain market exposure to the securities in which it invests by entering into a series of purchase and sale contracts or by using other investment techniques.
The Fund may normally borrow or sell securities short each up to 33 1/3% of the value of its total assets.
MWSIX - Performance
Return Ranking - Trailing
| Period | MWSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.2% | -11.1% | 18.9% | 43.81% |
| 1 Yr | 9.0% | -9.2% | 20.8% | 50.31% |
| 3 Yr | 2.9%* | -16.9% | 16.8% | 24.92% |
| 5 Yr | 3.1%* | -14.7% | 13.4% | 31.43% |
| 10 Yr | 3.0%* | -7.0% | 7.1% | 45.50% |
* Annualized
Return Ranking - Calendar
| Period | MWSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.8% | -12.0% | 8.9% | 77.28% |
| 2022 | -16.5% | -31.8% | 18.4% | 80.03% |
| 2021 | -6.1% | -16.2% | 25.7% | 94.59% |
| 2020 | -0.8% | -31.1% | 18.7% | 69.52% |
| 2019 | 1.5% | -6.1% | 15.3% | 84.39% |
Total Return Ranking - Trailing
| Period | MWSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.2% | -11.1% | 18.9% | 43.81% |
| 1 Yr | 9.0% | -9.2% | 20.8% | 50.31% |
| 3 Yr | 2.9%* | -16.9% | 16.8% | 24.92% |
| 5 Yr | 3.1%* | -14.7% | 13.4% | 31.43% |
| 10 Yr | 3.0%* | -7.0% | 7.1% | 45.50% |
* Annualized
Total Return Ranking - Calendar
| Period | MWSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.7% | -6.9% | 22.2% | 25.19% |
| 2022 | -5.7% | -31.8% | 21.1% | 28.21% |
| 2021 | 3.0% | -13.5% | 49.9% | 33.28% |
| 2020 | 5.3% | -28.6% | 24.1% | 51.69% |
| 2019 | 6.5% | -4.8% | 19.1% | 72.64% |
NAV & Total Return History
MWSIX - Holdings
Concentration Analysis
| MWSIX | Category Low | Category High | MWSIX % Rank | |
|---|---|---|---|---|
| Net Assets | 75.5 M | 2.63 M | 143 B | 87.58% |
| Number of Holdings | 527 | 4 | 9638 | 46.33% |
| Net Assets in Top 10 | 6.85 M | -204 M | 89.4 B | 96.57% |
| Weighting of Top 10 | 9.98% | 5.8% | 265.8% | 91.04% |
Top 10 Holdings
- Ginnie Mae 1.24%
- Fannie Mae or Freddie Mac 1.20%
- Ginnie Mae 1.02%
- Fannie Mae Pool 1.02%
- Fannie Mae Pool 1.01%
- Fannie Mae or Freddie Mac 1.00%
- Ginnie Mae 0.94%
- Goldman Sachs Group Inc/The 0.87%
- Fidelity Government Portfolio 0.86%
- Freddie Mac Pool 0.82%
Asset Allocation
| Weighting | Return Low | Return High | MWSIX % Rank | |
|---|---|---|---|---|
| Bonds | 74.62% | 0.00% | 199.60% | 72.70% |
| Other | 18.03% | -75.22% | 147.15% | 16.54% |
| Cash | 7.23% | -94.66% | 99.97% | 28.86% |
| Convertible Bonds | 1.45% | 0.00% | 33.50% | 46.31% |
| Stocks | 0.12% | -6.18% | 99.68% | 60.84% |
| Preferred Stocks | 0.00% | 0.00% | 21.58% | 80.66% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MWSIX % Rank | |
|---|---|---|---|---|
| Real Estate | 100.00% | 0.00% | 100.00% | 1.74% |
| Utilities | 0.00% | 0.00% | 100.00% | 78.55% |
| Technology | 0.00% | 0.00% | 28.30% | 73.04% |
| Industrials | 0.00% | 0.00% | 100.00% | 82.03% |
| Healthcare | 0.00% | 0.00% | 18.60% | 74.78% |
| Financial Services | 0.00% | 0.00% | 100.00% | 82.90% |
| Energy | 0.00% | 0.00% | 100.00% | 88.99% |
| Communication Services | 0.00% | 0.00% | 100.00% | 76.81% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 75.94% |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | 79.42% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 77.68% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MWSIX % Rank | |
|---|---|---|---|---|
| US | 0.12% | -6.18% | 99.68% | 58.03% |
| Non US | 0.00% | -0.30% | 17.73% | 71.61% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MWSIX % Rank | |
|---|---|---|---|---|
| Securitized | 59.92% | 0.00% | 99.65% | 12.40% |
| Corporate | 33.11% | 0.00% | 96.66% | 54.11% |
| Cash & Equivalents | 0.86% | 0.00% | 94.89% | 78.56% |
| Government | 0.55% | 0.00% | 99.43% | 81.96% |
| Municipal | 0.43% | 0.00% | 54.26% | 22.87% |
| Derivative | 0.06% | -75.22% | 147.15% | 38.18% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MWSIX % Rank | |
|---|---|---|---|---|
| US | 73.10% | 0.00% | 199.60% | 58.81% |
| Non US | 1.52% | 0.00% | 74.14% | 53.20% |
MWSIX - Expenses
Operational Fees
| MWSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.23% | 0.03% | 34.13% | 46.19% |
| Management Fee | 0.65% | 0.00% | 2.29% | 62.85% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| MWSIX 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 | 1.00% | 1.50% | N/A |
Trading Fees
| MWSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| MWSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 77.00% | 0.00% | 632.00% | 46.60% |
MWSIX - Distributions
Dividend Yield Analysis
| MWSIX | Category Low | Category High | MWSIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.60% | 0.00% | 23.30% | 6.80% |
Dividend Distribution Analysis
| MWSIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| MWSIX | Category Low | Category High | MWSIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 10.06% | -1.55% | 11.51% | 0.79% |
Capital Gain Distribution Analysis
| MWSIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.044 | OrdinaryDividend |
| Oct 31, 2024 | $0.038 | OrdinaryDividend |
| Sep 30, 2024 | $0.033 | OrdinaryDividend |
| Aug 30, 2024 | $0.035 | OrdinaryDividend |
| Jul 31, 2024 | $0.044 | OrdinaryDividend |
| Apr 30, 2024 | $0.044 | OrdinaryDividend |
| Mar 28, 2024 | $0.024 | OrdinaryDividend |
| Feb 29, 2024 | $0.034 | OrdinaryDividend |
| Jan 31, 2024 | $0.039 | OrdinaryDividend |
| Dec 29, 2023 | $0.040 | OrdinaryDividend |
| Nov 30, 2023 | $0.040 | OrdinaryDividend |
| Oct 31, 2023 | $0.040 | OrdinaryDividend |
| Sep 29, 2023 | $0.040 | OrdinaryDividend |
| Aug 31, 2023 | $0.042 | OrdinaryDividend |
| Jul 31, 2023 | $0.042 | OrdinaryDividend |
| Jun 30, 2023 | $0.043 | OrdinaryDividend |
| May 31, 2023 | $0.043 | OrdinaryDividend |
| Apr 28, 2023 | $0.043 | OrdinaryDividend |
| Mar 31, 2023 | $0.038 | OrdinaryDividend |
| Feb 28, 2023 | $0.035 | OrdinaryDividend |
| Jan 31, 2023 | $0.036 | OrdinaryDividend |
| Dec 30, 2022 | $0.040 | OrdinaryDividend |
| Nov 30, 2022 | $0.046 | OrdinaryDividend |
| Oct 31, 2022 | $0.065 | OrdinaryDividend |
| Sep 30, 2022 | $0.060 | OrdinaryDividend |
| Aug 31, 2022 | $0.044 | OrdinaryDividend |
| Jul 29, 2022 | $0.070 | OrdinaryDividend |
| Jun 30, 2022 | $0.064 | OrdinaryDividend |
| May 31, 2022 | $0.061 | OrdinaryDividend |
| Apr 29, 2022 | $0.074 | OrdinaryDividend |
| Mar 31, 2022 | $0.073 | OrdinaryDividend |
| Feb 28, 2022 | $0.066 | OrdinaryDividend |
| Jan 31, 2022 | $0.071 | OrdinaryDividend |
| Dec 31, 2021 | $0.080 | OrdinaryDividend |
| Nov 30, 2021 | $0.070 | OrdinaryDividend |
| Oct 29, 2021 | $0.074 | OrdinaryDividend |
| Sep 30, 2021 | $0.059 | OrdinaryDividend |
| Aug 31, 2021 | $0.050 | OrdinaryDividend |
| Jul 30, 2021 | $0.045 | OrdinaryDividend |
| Jun 30, 2021 | $0.048 | OrdinaryDividend |
| May 28, 2021 | $0.054 | OrdinaryDividend |
| Apr 30, 2021 | $0.059 | OrdinaryDividend |
| Mar 31, 2021 | $0.045 | OrdinaryDividend |
| Feb 26, 2021 | $0.041 | OrdinaryDividend |
| Jan 29, 2021 | $0.041 | OrdinaryDividend |
| Dec 31, 2020 | $0.047 | OrdinaryDividend |
| Nov 30, 2020 | $0.042 | OrdinaryDividend |
| Oct 30, 2020 | $0.041 | OrdinaryDividend |
| Sep 30, 2020 | $0.037 | OrdinaryDividend |
| Aug 31, 2020 | $0.033 | OrdinaryDividend |
| Jul 31, 2020 | $0.037 | OrdinaryDividend |
| Jun 30, 2020 | $0.039 | OrdinaryDividend |
| May 29, 2020 | $0.035 | OrdinaryDividend |
| Apr 30, 2020 | $0.039 | OrdinaryDividend |
| Mar 31, 2020 | $0.030 | OrdinaryDividend |
| Feb 28, 2020 | $0.028 | OrdinaryDividend |
| Jan 31, 2020 | $0.024 | OrdinaryDividend |
| Dec 31, 2019 | $0.030 | OrdinaryDividend |
| Nov 29, 2019 | $0.027 | OrdinaryDividend |
| Oct 31, 2019 | $0.032 | OrdinaryDividend |
| Sep 30, 2019 | $0.032 | OrdinaryDividend |
| Aug 30, 2019 | $0.027 | OrdinaryDividend |
| Jul 31, 2019 | $0.026 | OrdinaryDividend |
| Dec 13, 2006 | $0.025 | CapitalGainShortTerm |
| Dec 14, 2005 | $0.000 | CapitalGainShortTerm |
| Dec 14, 2005 | $0.019 | CapitalGainLongTerm |
| Dec 14, 2004 | $0.105 | CapitalGainShortTerm |
| Dec 14, 2004 | $0.002 | CapitalGainLongTerm |
MWSIX - Fund Manager Analysis
Managers
Laird Landmann
Start Date
Tenure
Tenure Rank
Jun 30, 2003
18.93
18.9%
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 30, 2003
18.93
18.9%
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, 2004
17.42
17.4%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
