Metropolitan West Corporate Bond Fund
Data updated: 2024-11-22
C000201587 — Metropolitan West Corporate Bond Fund. Long Corporate Bond · $4.97M AUM · 0.50% expense ratio. Holdings, fees, performance and SEC filings.
C000201587 Fund Overview
Metropolitan West Corporate Bond Fund is a US mutual fund managed by TCW Metropolitan West Funds, categorised as Long Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: TCW Metropolitan West Funds
- Category: Long Corporate Bond
- Assets under management: $4.97M
- 1-year return: 15.3%
- SEC CIK: 0001028621
- SEC series ID: S000062250
- Share class ID: C000201587
C000201587 Investment Objective and Strategy
Metropolitan West Corporate Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by TCW Metropolitan West Funds.
Investment objective
The Corporate Bond Fund seeks to maximize long-term total return.
Principal investment strategy
The Fund intends to pursue its objective by investing, under normal circumstances, at least 80% of its assets, which includes borrowings for investment purposes, in a diversified portfolio of corporate debt instruments of varying maturities issued by U.S. and foreign corporations domiciled in developed market and emerging market countries. The market value of any corporate debt derivatives will count toward the 80% level specified above. In addition to corporate debt instruments, the Fund can also invest its assets in other fixed income securities issued by various U.S. and foreign public or private entities, including government bonds, municipal securities, securities issued by government agencies, mortgage-related and asset-backed securities (including collateralized debt obligations, which in turn include collateralized bond obligations and collateralized loan obligations), and U.S.
and non-U.S. money-market securities. The assets held in the Fund may have interest rates that are fixed, variable or floating and can include private placements and restricted securities. Under normal circumstances, the Fund will invest at least 80% of its total assets (measured at the time of investment) in investment grade fixed income securities or unrated securities that are determined by the Adviser to be of similar 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 surpass its limit on investments in securities rated below investment grade. The Fund may invest in securities of any maturity, and there is no limit on the weighted average maturity of the Funds portfolio.
The Fund does not have a duration target. However, under normal conditions, the average portfolio duration will vary from three to nine 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 may invest in derivative instruments, primarily futures and forward contracts, options, currency futures, and swap agreements (typically interest- and index-linked swaps, total return swaps and credit default swaps). Derivatives will be used in an effort to hedge investments, for risk management or to increase income or gains for the Fund. 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.
Under normal circumstances, the majority of the Funds investments will be 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 will be 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.
C000201587 Holdings
Top 10 holdings of Metropolitan West Corporate Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| US Treasury N/b | 7.17% |
| Bank Of America Corp. | 2.32% |
| T-Mobile USA, Inc. | 1.49% |
| Goldman Sachs Group, Inc. | 1.48% |
| Wells Fargo & Company | 1.47% |
| Hsbc Holdings PLC | 1.43% |
| US Treasury N/b | 1.28% |
| JPMorgan Chase & Co. | 1.21% |
| Duke Energy Carolinas | 1.16% |
| Firstenergy Penn Electri | 1.00% |
C000201587 Portfolio Allocation
Asset-class allocation of Metropolitan West Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 94.8% |
| Securitized | 1.3% |
| Cash & Equivalents | 0.5% |
| Real Estate | 0.1% |
C000201587 Performance
Total returns for C000201587 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 15.3% |
| 3 years (annualised) | -1.3% |
| 5 years (annualised) | 1.6% |
C000201587 Risk Information
Risk metrics for C000201587, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.1%
C000201587 Costs and Fees
C000201587 costs about $50 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.50%
- Gross expense ratio: 4.24%
- Portfolio turnover: 136%
- Brokerage commissions: 0.52 bps of average net assets (SEC N-CEN)
C000201587 Cashflows
Over the 12 months to 2024-09, Metropolitan West Corporate Bond Fund had net outflows of $6.37K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | $62.27K |
| 2024-08 | −$180.53K |
| 2024-07 | −$100.78K |
| 2024-06 | −$65.58K |
| 2024-05 | −$112.61K |
| 2024-04 | −$31.43K |
C000201587 Debt Constituents
Largest debt holdings of Metropolitan West Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| US Treasury N/b | 7.17% |
| Bank Of America Corp. | 2.32% |
| T-Mobile USA, Inc. | 1.49% |
| Goldman Sachs Group, Inc. | 1.48% |
| Wells Fargo & Company | 1.47% |
| Hsbc Holdings PLC | 1.43% |
| US Treasury N/b | 1.28% |
| JPMorgan Chase & Co. | 1.21% |
| Duke Energy Carolinas | 1.16% |
| Firstenergy Penn Electri | 1.00% |
C000201587 Prospectus and SEC Filings
Official Metropolitan West Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-07-26
- Prospectus (485BPOS) — filed 2023-07-25
- Prospectus supplement (497) — filed 2022-08-18
- Portfolio holdings (N-PORT) — filed 2024-11-22
- Portfolio holdings (N-PORT) — filed 2024-08-21
- Portfolio holdings (N-PORT) — filed 2024-05-23
- Annual census (N-CEN) — filed 2024-06-11
- Annual census (N-CEN) — filed 2023-06-02
Related Funds
Other Long Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.