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MassMutual Total Return Bond Fund
mutual fund
MSPGX
Payout Change
Pending
Price as of:
$8.51
-0.01
-0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MSPGX (Mutual Fund)
MassMutual Total Return Bond Fund
Payout Change
Pending
Price as of:
$8.51
-0.01
-0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MSPGX (Mutual Fund)
MassMutual Total Return Bond Fund
Payout Change
Pending
Price as of:
$8.51
-0.01
-0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/10/2024Price
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
1.5%
1 yr return
4.8%
3 Yr Avg Return
-3.0%
5 Yr Avg Return
-0.5%
Net Assets
$661 M
Holdings in Top 10
3984.6%
52 WEEK LOW AND HIGH
$8.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.83%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 435.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
MSPGX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return -3.0%
- 5 Yr Annualized Total Return -0.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.07%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMassMutual Total Return Bond Fund
-
Fund Family NameMASSMUTUAL FUNDS
-
Inception DateJul 06, 2010
-
Shares OutstandingN/A
-
Share ClassR4
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Kane
Fund Description
Principal Investment Strategies
Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of investment grade fixed income securities (rated Baa3 or higher by Moody’s, BBB- or higher by Standard & Poor’s, BBB- or higher by Fitch, or A-2 by S&P, P-2 by Moody’s, or F-2 by Fitch for short-term debt obligations, or, if unrated, determined by the Fund’s subadviser, Metropolitan West Asset Management, LLC (“MetWest”), to be of comparable quality). These typically include bonds, notes, collateralized bond obligations, collateralized debt obligations, mortgage-related and asset-backed securities, municipal securities, private
placements, and securities subject to legal restrictions on resale pursuant to Rule 144A. These investments may have interest rates that are fixed, variable, or floating. The Fund invests in securities of varying maturities issued by domestic and foreign corporations and governments (and their agencies and instrumentalities). MetWest focuses the Fund’s portfolio holdings in areas of the bond market (based on quality, sector, coupon, or maturity) that the subadviser believes to be relatively undervalued.
The Fund may invest up to 20% of its net assets in below investment grade debt securities (“junk” or “high yield” bonds), including securities in default and bank loans. In the event that a security is downgraded after its purchase by the Fund, the Fund may continue to hold the security if MetWest considers doing so would be consistent with the Fund’s investment objective.
The Fund may invest up to 25% of its total assets in foreign securities that are denominated in U.S. dollars. The Fund may also invest up to 15% of its total assets in foreign securities that are not denominated in U.S. dollars and up to 10% of its total assets in emerging market foreign securities.
The Fund may but will not necessarily engage in foreign currency forward transactions to take long or short positions in foreign currencies in order to seek to enhance the Fund’s investment return or to seek to hedge or to attempt to protect against adverse changes in currency exchange rates. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of exchange-traded and over-the-counter derivatives, including options, futures contracts, and swap contracts for hedging or investment purposes as a substitute for investing directly in securities or to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund’s portfolio. Use of derivatives by the Fund may create investment leverage.
The Fund may purchase and sell securities on a when-issued, delayed delivery, or forward commitment basis. The Fund may normally short sell up to 25% of the value of its total assets for hedging or investment purposes.
The Fund may also invest in money market securities, including commercial paper. The Fund may enter into repurchase agreement transactions. The Fund may at times have significant exposure to one or more industries or sectors. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may enter into dollar roll or reverse repurchase agreement transactions.
MetWest intends for the Fund’s portfolio duration to be between two to eight years. The dollar-weighted average maturity of the Fund’s portfolio is expected to range from two to fifteen years. Duration measures the price sensitivity of a bond to changes in interest rates. Duration is the dollar weighted average time to maturity of a bond utilizing the present value of all future cash flows.
MetWest employs a value-oriented fixed income management philosophy with a goal of consistently outperforming the portfolio benchmark while maintaining volatility similar to the benchmark. The investment process is predicated on a long-term economic outlook, which is determined by the investment team on a quarterly basis and is reviewed constantly. Investments are characterized by diversification among the sectors of the fixed income marketplace. The investment management team seeks to achieve the desired outperformance through the measured and disciplined application of five fixed income management strategies which include duration management, yield curve positioning, sector allocation, security selection, and opportunistic execution.
The first three strategies are top-down in orientation and start with a decision of where within the plus-or-minus one year range around the benchmark the duration should be established. Then comes a determination of how the overall average duration is to be effected – with a concentration of intermediate maturity issues or a combination of long- and short-term issues. The relative value decision regarding where to overweight/underweight sectors, including governments, agencies, corporates, mortgages, or asset-backed securities, is dependent on the current market environment. Bottom-up security selection involves the day-to-day fundamental analysis of available bond market opportunities, while execution is characterized by the aggressive and informed negotiation of the prices at which transactions take place.
The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
MSPGX - Performance
Return Ranking - Trailing
| Period | MSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -6.3% | 11.5% | 96.37% |
| 1 Yr | 4.8% | -2.1% | 15.6% | 95.34% |
| 3 Yr | -3.0%* | -10.0% | 28.7% | 91.37% |
| 5 Yr | -0.5%* | -7.2% | 58.9% | 88.58% |
| 10 Yr | 1.1%* | -2.8% | 74.0% | 80.38% |
* Annualized
Return Ranking - Calendar
| Period | MSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.7% | -16.2% | 8.1% | 69.13% |
| 2022 | -16.4% | -34.7% | 131.9% | 64.57% |
| 2021 | -2.8% | -11.6% | 4.4% | 26.03% |
| 2020 | 3.1% | -9.9% | 946.1% | 66.28% |
| 2019 | 5.9% | -1.7% | 16.9% | 40.10% |
Total Return Ranking - Trailing
| Period | MSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -6.3% | 11.5% | 96.37% |
| 1 Yr | 4.8% | -2.1% | 15.6% | 95.34% |
| 3 Yr | -3.0%* | -10.0% | 28.7% | 91.37% |
| 5 Yr | -0.5%* | -7.2% | 58.9% | 88.58% |
| 10 Yr | 1.1%* | -2.8% | 74.0% | 80.38% |
* Annualized
Total Return Ranking - Calendar
| Period | MSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.3% | -11.3% | 11.9% | 78.27% |
| 2022 | -14.6% | -32.2% | 131.9% | 80.11% |
| 2021 | -1.5% | -9.4% | 9.2% | 68.52% |
| 2020 | 8.7% | -1.9% | 1009.0% | 40.97% |
| 2019 | 8.6% | 1.1% | 21668.0% | 57.26% |
NAV & Total Return History
MSPGX - Holdings
Concentration Analysis
| MSPGX | Category Low | Category High | MSPGX % Rank | |
|---|---|---|---|---|
| Net Assets | 661 M | 2.9 M | 314 B | 61.87% |
| Number of Holdings | 556 | 1 | 17880 | 58.26% |
| Net Assets in Top 10 | 281 M | 1.62 M | 35.1 B | 56.59% |
| Weighting of Top 10 | 3984.59% | 4.7% | 3984.6% | 0.10% |
Top 10 Holdings
- 09/26 3.5 795.01%
- 09/29 3.5 677.59%
- 08/44 4.125 623.49%
- 08/34 3.875 610.59%
- 08/54 4.25 457.71%
- SINGLE FAMILY MORTGAGE 218.59%
- FIXED INC CLEARING CORP.REPO 169.56%
- SINGLE FAMILY MORTGAGE 154.20%
- JUMBOS 142.05%
- JUMBOS 135.82%
Asset Allocation
| Weighting | Return Low | Return High | MSPGX % Rank | |
|---|---|---|---|---|
| Bonds | 9231.88% | 0.00% | 9231.88% | 0.10% |
| Other | 1695.17% | -27.25% | 1695.17% | 0.10% |
| Cash | 45.12% | -54.51% | 237.69% | 0.42% |
| Stocks | 7.34% | 0.00% | 99.98% | 4.87% |
| Convertible Bonds | 1.56% | 0.00% | 7.93% | 46.03% |
| Preferred Stocks | 0.00% | 0.00% | 72.34% | 37.80% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MSPGX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | N/A |
| Technology | 0.00% | 0.00% | 43.45% | N/A |
| Real Estate | 0.00% | 0.00% | 99.26% | N/A |
| Industrials | 0.00% | 0.00% | 48.31% | N/A |
| Healthcare | 0.00% | 0.00% | 17.70% | N/A |
| Financial Services | 0.00% | 0.00% | 100.00% | N/A |
| Energy | 0.00% | 0.00% | 100.00% | N/A |
| Communication Services | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 99.67% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
| Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MSPGX % Rank | |
|---|---|---|---|---|
| US | 7.34% | 0.00% | 99.98% | 4.88% |
| Non US | 0.00% | 0.00% | 88.46% | 18.38% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MSPGX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 45.12% | 0.00% | 237.69% | 0.42% |
| Government | 41.45% | 0.00% | 86.23% | 15.27% |
| Securitized | 33.08% | 0.00% | 98.40% | 38.70% |
| Corporate | 22.47% | 0.00% | 100.00% | 80.44% |
| Municipal | 0.31% | 0.00% | 100.00% | 55.13% |
| Derivative | -6.56% | -6.56% | 44.82% | 99.38% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MSPGX % Rank | |
|---|---|---|---|---|
| US | 9042.62% | 0.00% | 9042.62% | 0.10% |
| Non US | 189.26% | 0.00% | 189.26% | 0.10% |
MSPGX - Expenses
Operational Fees
| MSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.83% | 0.01% | 39.64% | 36.78% |
| Management Fee | 0.30% | 0.00% | 1.76% | 31.90% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 27.35% |
| Administrative Fee | 0.20% | 0.01% | 0.50% | 83.29% |
Sales Fees
| MSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | 3.12% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MSPGX 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.
| MSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 435.00% | 2.00% | 493.39% | 90.78% |
MSPGX - Distributions
Dividend Yield Analysis
| MSPGX | Category Low | Category High | MSPGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.24% | 0.00% | 10.11% | 61.35% |
Dividend Distribution Analysis
| MSPGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| MSPGX | Category Low | Category High | MSPGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.07% | -1.28% | 4.79% | 85.87% |
Capital Gain Distribution Analysis
| MSPGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.023 | OrdinaryDividend |
| Oct 31, 2024 | $0.024 | OrdinaryDividend |
| Sep 30, 2024 | $0.027 | OrdinaryDividend |
| Aug 30, 2024 | $0.023 | OrdinaryDividend |
| Jul 31, 2024 | $0.025 | OrdinaryDividend |
| Jun 28, 2024 | $0.022 | OrdinaryDividend |
| May 31, 2024 | $0.025 | OrdinaryDividend |
| Apr 30, 2024 | $0.027 | OrdinaryDividend |
| Dec 13, 2023 | $0.299 | OrdinaryDividend |
| Dec 14, 2022 | $0.185 | OrdinaryDividend |
| Dec 16, 2021 | $0.117 | OrdinaryDividend |
| Dec 16, 2021 | $0.020 | CapitalGainShortTerm |
| Dec 14, 2020 | $0.183 | OrdinaryDividend |
| Dec 14, 2020 | $0.381 | CapitalGainShortTerm |
| Dec 16, 2019 | $0.259 | OrdinaryDividend |
| Dec 17, 2018 | $0.246 | OrdinaryDividend |
| Dec 15, 2017 | $0.222 | OrdinaryDividend |
| Dec 15, 2016 | $0.134 | CapitalGainShortTerm |
| Dec 15, 2016 | $0.081 | CapitalGainLongTerm |
| Dec 15, 2016 | $0.212 | OrdinaryDividend |
| Dec 15, 2015 | $0.020 | CapitalGainShortTerm |
| Dec 15, 2015 | $0.008 | CapitalGainLongTerm |
| Dec 15, 2015 | $0.169 | OrdinaryDividend |
| Aug 28, 2015 | $0.001 | ExtraDividend |
| Aug 28, 2015 | $0.009 | CapitalGainShortTerm |
| Dec 15, 2014 | $0.026 | CapitalGainShortTerm |
| Dec 15, 2014 | $0.129 | CapitalGainLongTerm |
| Dec 15, 2014 | $0.250 | OrdinaryDividend |
| Dec 16, 2013 | $0.200 | OrdinaryDividend |
| Dec 17, 2012 | $0.018 | CapitalGainLongTerm |
| Dec 17, 2012 | $0.303 | OrdinaryDividend |
| Dec 15, 2011 | $0.278 | OrdinaryDividend |
| Dec 15, 2010 | $0.114 | OrdinaryDividend |
| Dec 15, 2010 | $0.077 | CapitalGainShortTerm |
| Dec 15, 2010 | $0.005 | CapitalGainLongTerm |
MSPGX - Fund Manager Analysis
Managers
Stephen Kane
Start Date
Tenure
Tenure Rank
Oct 27, 2014
7.6
7.6%
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
Oct 27, 2014
7.6
7.6%
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
Oct 27, 2014
7.6
7.6%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |
