MWERX Fees and Costs — TCW METWEST Sustainable Securitized Fund, Class M
Data updated: 2026-08-27
The net expense ratio is 0.70%: a 0.40% management fee, a 0.25% 12b-1 fee plus 1.88% other expenses, less a 1.83% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $81 in broker commissions, 0.0004% of average net assets, and portfolio turnover was 354%.
MWERX Fees and Expenses
Annual operating expenses and sales charges of MWERX. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.88% |
| Gross expense ratio | 2.53% |
| Fee waiver | −1.83% |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MWERX Costs Over Time
On $10,000 invested in MWERX, assuming 5% a year before costs, total costs come to $441 over 5 years, cutting the return by 0.74% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $242 | $441 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
MWERX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0004%
- Total broker commissions: $81
- Bought from dealers (principal trades, not a cost): $206.2M
- Portfolio turnover (prospectus): 354%
- Securities lending: none during the year
MWERX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $81 | 100.00% |
MWERX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $60.5M | 31.11% |
| State Street Bank and Trust Company | $54.3M | 27.91% |
| Citigroup Global Markets Inc. | $25.0M | 12.84% |
| Citadel Securities LLC | $16.6M | 8.52% |
| Morgan Stanley & Co. LLC | $9.3M | 4.76% |
| Barclays Capital Inc. | $8.2M | 4.21% |
| Deutsche Bank Securities Inc. | $6.9M | 3.56% |
| BofA Securities, Inc. | $6.3M | 3.26% |
| J.P. Morgan Securities LLC | $3.9M | 1.99% |
| BMO Capital Markets Corp. | $3.6M | 1.84% |
TCW METWEST Sustainable Securitized Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MWESX | Class I | 0.49% | — |
| MWERX | Class M | 0.70% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.