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Critical Facts You Need to Know About Preferred Stocks
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METROPOLITAN WEST TOTAL RETURN BOND FUND
mutual fund
MWTTX
Payout Change
Pending
Price as of:
$9.09
-0.02
-0.22%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MWTTX (Mutual Fund)
METROPOLITAN WEST TOTAL RETURN BOND FUND
Payout Change
Pending
Price as of:
$9.09
-0.02
-0.22%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MWTTX (Mutual Fund)
METROPOLITAN WEST TOTAL RETURN BOND FUND
Payout Change
Pending
Price as of:
$9.09
-0.02
-0.22%
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
2.8%
1 yr return
5.9%
3 Yr Avg Return
-2.6%
5 Yr Avg Return
N/A
Net Assets
$52.4 B
Holdings in Top 10
34.0%
52 WEEK LOW AND HIGH
$9.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.51%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 467.00%
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 12/10/2024Price
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
MWTTX - Profile
Distributions
- YTD Total Return 2.8%
- 3 Yr Annualized Total Return -2.6%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.33%
- Dividend Yield 4.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMETROPOLITAN WEST TOTAL RETURN BOND FUND
-
Fund Family NameTCW Family of Investment Companies
-
Inception DateMar 06, 2020
-
Shares OutstandingN/A
-
Share ClassI2
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Kane
Fund Description
The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in investment grade fixed income securities or unrated securities determined by the Adviser to be of comparable quality. Up to 20% 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 Fund also invests, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities it regards as bonds. 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. 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 abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations and governments. The Fund may invest up to 25% of its assets in foreign securities that are denominated in U.S. dollars. 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 10% of its assets in emerging market securities. 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 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, U.S. and non-U.S. money market securities, municipal securities, derivatives including credit default swaps and other swaps, futures, options and currency forward contracts, defaulted debt securities, private placements and restricted securities. The Fund’s fixed income investments may have interest rates that are fixed, variable or floating.
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 engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.
The Fund may normally short sell up to 25% of the value of its total assets.
MWTTX - Performance
Return Ranking - Trailing
| Period | MWTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.8% | -6.3% | 11.5% | 82.80% |
| 1 Yr | 5.9% | -2.1% | 15.6% | 74.40% |
| 3 Yr | -2.6%* | -10.0% | 28.7% | 82.32% |
| 5 Yr | N/A* | -7.2% | 58.9% | 40.12% |
| 10 Yr | N/A* | -2.8% | 74.0% | 26.32% |
* Annualized
Return Ranking - Calendar
| Period | MWTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.7% | -16.2% | 8.1% | 69.02% |
| 2022 | -17.1% | -34.7% | 131.9% | 80.21% |
| 2021 | -2.4% | -11.6% | 4.4% | 12.90% |
| 2020 | N/A | -9.9% | 946.1% | N/A |
| 2019 | N/A | -1.7% | 16.9% | N/A |
Total Return Ranking - Trailing
| Period | MWTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.8% | -6.3% | 11.5% | 82.80% |
| 1 Yr | 5.9% | -2.1% | 15.6% | 74.40% |
| 3 Yr | -2.6%* | -10.0% | 28.7% | 82.32% |
| 5 Yr | N/A* | -7.2% | 58.9% | 36.59% |
| 10 Yr | N/A* | -2.8% | 74.0% | 24.31% |
* Annualized
Total Return Ranking - Calendar
| Period | MWTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.3% | -11.3% | 11.9% | 39.71% |
| 2022 | -14.8% | -32.2% | 131.9% | 82.23% |
| 2021 | -1.1% | -9.4% | 9.2% | 54.06% |
| 2020 | N/A | -1.9% | 1009.0% | N/A |
| 2019 | N/A | 1.1% | 21668.0% | N/A |
NAV & Total Return History
MWTTX - Holdings
Concentration Analysis
| MWTTX | Category Low | Category High | MWTTX % Rank | |
|---|---|---|---|---|
| Net Assets | 52.4 B | 2.9 M | 314 B | 4.35% |
| Number of Holdings | 1608 | 1 | 17880 | 28.56% |
| Net Assets in Top 10 | 14.6 B | 1.62 M | 35.1 B | 4.26% |
| Weighting of Top 10 | 34.02% | 4.7% | 3984.6% | 25.13% |
Top 10 Holdings
- United States Treasury Note/Bond 8.84%
- United States Treasury Note/Bond 5.40%
- United States Treasury Note/Bond 4.29%
- United States Treasury Note/Bond 4.21%
- United States Treasury Note/Bond 3.91%
- United States Treasury Note/Bond 1.87%
- Fannie Mae or Freddie Mac 1.55%
- Fannie Mae or Freddie Mac 1.35%
- Ginnie Mae 1.32%
- Fannie Mae or Freddie Mac 1.31%
Asset Allocation
| Weighting | Return Low | Return High | MWTTX % Rank | |
|---|---|---|---|---|
| Bonds | 104.86% | 0.00% | 9231.88% | 14.40% |
| Other | 3.60% | -27.25% | 1695.17% | 55.45% |
| Convertible Bonds | 2.11% | 0.00% | 7.93% | 26.99% |
| Stocks | 0.18% | 0.00% | 99.98% | 16.79% |
| Cash | 0.11% | -54.51% | 237.69% | 89.41% |
| Preferred Stocks | 0.00% | 0.00% | 72.34% | 82.76% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MWTTX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 25.49% |
| Technology | 0.00% | 0.00% | 43.45% | 5.10% |
| Real Estate | 0.00% | 0.00% | 99.26% | 12.16% |
| Industrials | 0.00% | 0.00% | 48.31% | 14.51% |
| Healthcare | 0.00% | 0.00% | 17.70% | 7.45% |
| Financial Services | 0.00% | 0.00% | 100.00% | 29.02% |
| Energy | 0.00% | 0.00% | 100.00% | 50.98% |
| Communication Services | 0.00% | 0.00% | 100.00% | 14.90% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 11.76% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 11.37% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 16.86% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MWTTX % Rank | |
|---|---|---|---|---|
| US | 0.18% | 0.00% | 99.98% | 16.72% |
| Non US | 0.00% | 0.00% | 88.46% | 76.95% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MWTTX % Rank | |
|---|---|---|---|---|
| Securitized | 40.93% | 0.00% | 98.40% | 20.71% |
| Government | 26.37% | 0.00% | 86.23% | 46.86% |
| Corporate | 26.11% | 0.00% | 100.00% | 65.17% |
| Municipal | 0.58% | 0.00% | 100.00% | 43.31% |
| Cash & Equivalents | 0.11% | 0.00% | 237.69% | 85.88% |
| Derivative | -0.01% | -6.56% | 44.82% | 78.61% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MWTTX % Rank | |
|---|---|---|---|---|
| US | 102.60% | 0.00% | 9042.62% | 17.86% |
| Non US | 2.25% | 0.00% | 189.26% | 19.31% |
MWTTX - Expenses
Operational Fees
| MWTTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.51% | 0.01% | 39.64% | 70.53% |
| Management Fee | 0.35% | 0.00% | 1.76% | 49.53% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| MWTTX 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
| MWTTX 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.
| MWTTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 467.00% | 2.00% | 493.39% | 94.17% |
MWTTX - Distributions
Dividend Yield Analysis
| MWTTX | Category Low | Category High | MWTTX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.15% | 0.00% | 10.11% | 26.94% |
Dividend Distribution Analysis
| MWTTX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| MWTTX | Category Low | Category High | MWTTX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.33% | -1.28% | 4.79% | 73.60% |
Capital Gain Distribution Analysis
| MWTTX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.032 | OrdinaryDividend |
| Oct 31, 2024 | $0.034 | OrdinaryDividend |
| Aug 30, 2024 | $0.031 | OrdinaryDividend |
| Jul 31, 2024 | $0.035 | OrdinaryDividend |
| Apr 30, 2024 | $0.032 | OrdinaryDividend |
| Mar 28, 2024 | $0.029 | OrdinaryDividend |
| Feb 29, 2024 | $0.029 | OrdinaryDividend |
| Jan 31, 2024 | $0.033 | OrdinaryDividend |
| Dec 29, 2023 | $0.034 | OrdinaryDividend |
| Nov 30, 2023 | $0.034 | OrdinaryDividend |
| Oct 31, 2023 | $0.032 | OrdinaryDividend |
| Sep 29, 2023 | $0.029 | OrdinaryDividend |
| Aug 31, 2023 | $0.035 | OrdinaryDividend |
| Jul 31, 2023 | $0.033 | OrdinaryDividend |
| Jun 30, 2023 | $0.032 | OrdinaryDividend |
| May 31, 2023 | $0.031 | OrdinaryDividend |
| Apr 28, 2023 | $0.030 | OrdinaryDividend |
| Mar 31, 2023 | $0.029 | OrdinaryDividend |
| Feb 28, 2023 | $0.027 | OrdinaryDividend |
| Jan 31, 2023 | $0.026 | OrdinaryDividend |
| Dec 30, 2022 | $0.034 | OrdinaryDividend |
| Nov 30, 2022 | $0.023 | OrdinaryDividend |
| Oct 31, 2022 | $0.026 | OrdinaryDividend |
| Sep 30, 2022 | $0.032 | OrdinaryDividend |
| Aug 31, 2022 | $0.022 | OrdinaryDividend |
| Jul 29, 2022 | $0.023 | OrdinaryDividend |
| Jun 30, 2022 | $0.021 | OrdinaryDividend |
| May 31, 2022 | $0.019 | OrdinaryDividend |
| Apr 29, 2022 | $0.017 | OrdinaryDividend |
| Mar 31, 2022 | $0.002 | ReturnOfCapital |
| Mar 31, 2022 | $0.013 | OrdinaryDividend |
| Feb 28, 2022 | $0.002 | ReturnOfCapital |
| Feb 28, 2022 | $0.012 | OrdinaryDividend |
| Jan 31, 2022 | $0.001 | ReturnOfCapital |
| Jan 31, 2022 | $0.011 | OrdinaryDividend |
| Dec 31, 2021 | $0.013 | OrdinaryDividend |
| Dec 07, 2021 | $0.003 | CapitalGainShortTerm |
| Nov 30, 2021 | $0.010 | OrdinaryDividend |
| Oct 29, 2021 | $0.012 | OrdinaryDividend |
| Sep 30, 2021 | $0.010 | OrdinaryDividend |
| Aug 31, 2021 | $0.011 | OrdinaryDividend |
| Jul 30, 2021 | $0.011 | OrdinaryDividend |
| Jun 30, 2021 | $0.011 | OrdinaryDividend |
| May 28, 2021 | $0.011 | OrdinaryDividend |
| Apr 30, 2021 | $0.011 | OrdinaryDividend |
| Mar 31, 2021 | $0.011 | OrdinaryDividend |
| Feb 26, 2021 | $0.009 | OrdinaryDividend |
| Jan 29, 2021 | $0.011 | OrdinaryDividend |
| Dec 31, 2020 | $0.012 | OrdinaryDividend |
| Dec 08, 2020 | $0.406 | CapitalGainShortTerm |
| Dec 08, 2020 | $0.132 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.012 | OrdinaryDividend |
| Oct 30, 2020 | $0.013 | OrdinaryDividend |
| Sep 30, 2020 | $0.014 | OrdinaryDividend |
| Aug 31, 2020 | $0.016 | OrdinaryDividend |
| Jul 31, 2020 | $0.016 | OrdinaryDividend |
| Jun 30, 2020 | $0.016 | OrdinaryDividend |
| May 29, 2020 | $0.024 | OrdinaryDividend |
| Apr 30, 2020 | $0.029 | OrdinaryDividend |
| Mar 31, 2020 | $0.026 | OrdinaryDividend |
MWTTX - Fund Manager Analysis
Managers
Stephen Kane
Start Date
Tenure
Tenure Rank
Mar 31, 1997
25.18
25.2%
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.
Laird Landmann
Start Date
Tenure
Tenure Rank
Mar 31, 1997
25.18
25.2%
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.
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 | 33.43 | 6.77 | 1.16 |
