TCW Relative Value Dividend Appreciation Fund

(Formerly the TCW Dividend Focused Fund)

At-A-Glance

Ticker Symbol
Daily NAV

Style

Investment Team

  • Diane E. Jaffee, CFA

FEATURED RECENTLY
IN BARRON'S

Barron's: 10 Top Payers for the Long Haul
October 27, 2016

 

Barron's: The Top 200 Sustainable Funds
October 20, 2016

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Fund Name Daily NAV1 Daily1 MTD1 YTD1 Latest 3 Months2
Annualized Performance
1-yr
3-yr3 5-yr3 10-yr3 Since Inc3
Expense Ratio
Net
Gross
TCW Relative Value Dividend Appreciation Fund I
[Inception Date: 10/29/2004]
$18.91 0.00% 2.44% 3.33% 9.42% 24.49% 8.70% 13.59% 5.79% 7.43% 0.86% 0.86%
TCW Relative Value Dividend Appreciation Fund N
[Inception Date: 09/19/1986]
$19.22 0.00% 2.45% 3.28% 9.30% 24.21% 8.39% 13.26% 5.48% 9.29% 1.00% 1.14%
Russell 1000 Value Index - - - - 9.13% 24.62% 10.16% 14.11% 5.66% 7.75% - -
Russell 1000 Value Index - - - - 9.13% 24.62% 10.16% 14.11% 5.66% 10.33% - -
1 as of 02/24/17 (updated daily)
2 Performance as of 01/31/2017 (updated monthly)
3 Returns include the performance of the predecessor limited partnership for periods
before the Fund’s registration became effective. The predecessor limited partnership
was not registered under the Investment Company Act of 1940 (“1940 Act”) and
therefore was not subject to certain investment restrictions imposed by the 1940 Act.
If the limited partnership had been registered under the 1940 Act, its performance
may have been adversely affected.

Click here for detailed Quarterly/Monthly Performance 

Investment Objective

The Fund seeks to realize a high level of dividend income consistent with prudent investment management. Capital appreciation is a secondary objective.

Investment Approach

To pursue this goal, the Fund will primarily invest in equity securities of companies with a record of paying dividends.

Attribution Analysis

Sector Returns & Attribution (one month)
Russell 1000 Value Index Avg % of Total Equities Benchmark Avg Weight (%) TCW Return (%) Benchmark Return (%) Difference (%) Asset Alloc. Effect Sec. Selection Effect Total Effect
Consumer Discretionary 11.97 4.56 2.61 1.73 0.88 0.07 0.10 0.18
Consumer Staples 4.61 8.05 -1.59 1.84 -3.43 -0.04 -0.16 -0.20
Energy 10.40 13.38 -2.77 -3.33 0.56 0.12 0.06 0.18
Financials 21.80 26.72 -1.73 0.14 -1.87 0.03 -0.40 -0.38
Health Care 9.50 10.29 1.72 2.46 -0.74 -0.01 -0.07 -0.08
Industrials 13.72 10.15 -1.22 2.09 -3.31 0.05 -0.46 -0.40
Information Technology 19.27 9.49 6.60 2.51 4.09 0.17 0.77 0.94
Materials 3.08 2.93 4.50 6.07 -1.57 0.01 -0.04 -0.04
Real Estate 1.37 4.63 -2.12 -0.29 -1.83 0.03 -0.02 0.01
Telecom Services 2.58 3.78 0.80 -0.82 1.62 0.02 0.04 0.06
Utilities 1.69 6.00 -0.50 1.26 -1.76 -0.02 -0.03 -0.05
Total Equity   0.43 -0.21 0.22
as of 1/31/2017 (updated monthly)

Performance Returns

as of 01/31/2017 (updated monthly)

Top Ten Holdings (%)

  Portfolio
JPMORGAN CHASE & CO COM 4.20
CHEVRON CORP 3.65
GENERAL ELEC CO COM 3.63
MICROSOFT COMMON STOCK 3.46
CISCO SYSTEMS INC COMMON STOCK 3.45
CITIGROUP INC COMMON STOCK 3.29
COMCAST CORP 3.05
MERCK & CO INC NEW 2.76
MAXIM INTEGRATED PRODUCTS COMMON STOCK 2.55
INTEL CORP 2.53
as of 1/31/2017 (updated monthly)

Sector Weight (%)

as of 1/31/2017 (updated monthly)
Sector weights include securities only & don't include cash

Legal Disclosures


The source for all charts and tables above is TCW
GLOSSARY OF TERMS

Attribution Analysis – A performance-evaluation tool used to analyze the abilities of portfolio or fund managers. Attribution analysis uncovers the impact of the manager's investment decisions with regard to overall investment policy, asset allocation, security selection and activity. A fund or portfolio's returns are compared to a benchmark in order to determine whether a manager is actually skilled or just lucky.

Price/Earnings – The price/earnings ratio is the price of a stock divided by its earnings per share. A trailing P/E refers to a ratio that is based on earnings from the latest year, while a forward P/E uses an analyst's forecast of next year's earnings. P/E ratio estimates should not be considered illustrative of future performance of the Fund.

Price/Book – A ratio used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share.

Market Capitalization – The market value of all outstanding bonds of a particular issue. Market capitalization is calculated by multiplying the principal amount of the bond issue by the current market price of an individual bond expressed as a percentage of par.

About Performance
The performance data presented represents past performance and is no guarantee of future results. Total returns include reinvestment of dividends and distributions. Current performance may be lower or higher than the performance data presented. Performance data current to the most recent month end is available on the product detail page for each Fund. Investment returns and principal value will fluctuate with market conditions. The value of an investment in the Fund, when redeemed, may be worth more or less than its original purchase cost.
About the Predecessor Investment Company

For the Dividend Focused Fund Class N Shares, the performance information of the Fund includes the performance of its predecessor investment company, ("SG Cowen Predecessor Fund"), which prior to December 14, 2001, was managed by SG Cowen Asset Management Company, Inc. The SG Cowen Predecessor Fund has investment objectives and strategies that are substantially similar to the Fund. The performance of the SG Cowen Predecessor Fund was calculated using the fees and expenses of the Class A shares not including the 4.75% sales charge for Class A shares of the SG Cowen Predecessor Fund.

Net and Gross Expense Ratio

Annual fund operating expenses as stated in the Prospectus dated February 29, as amended September 30, 2016. Effective August 3, 2016, the Advisor has contractually agreed to cap the expenses (excluding interest and acquired fund fees and expenses, if any) of each class of the Fund at 1.00% until February 28, 2018

Objective
There can be no assurance that the objectives and/or trends will come to pass or be maintained.
Portfolio Characteristics & Holdings
It should not be assumed that an investment in the securities listed was or will be profitable. Portfolio characteristics and holdings are subject to change at any time.

This content may include estimates, projections and other "forward-looking" statements. Actual events may differ substantially from those presented. TCW/MetWest assumes no duty to update any such statements. All projections are based on current asset prices and are subject to change.

Russell Trademark

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes.  Russell® is a trademark of Russell Investment Group.


Russell 1000® Value Index – Measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with lower price-to-book ratios and lower expected growth values.


The index is not available for direct investment; therefore its performance does not reflect a reduction for fees or expenses incurred in managing a portfolio. The securities in the index may be substantially different from those in the Fund.

A Word About Risk

Equity investments entail equity and price volatility risk. The value of stocks and other equity securities will change based on changes in a company's financial condition and in overall market and economic conditions.

Obtain a Prospectus

You should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. A Fund’s Prospectus and Summary Prospectus contain this and other information about the Fund. To receive a Prospectus, please call 800-386-3829 or you may download the PDF TCW Funds Prospectus. Please read it carefully.


The TCW Funds are distributed by TCW Funds Distributors LLC

Investment Team

  • Photo: Diane E. Jaffee, CFA
    Diane E. Jaffee, CFA
    Group Managing Director

    Ms. Jaffee is the Senior Portfolio Manager for the TCW Relative Value Large Cap, TCW Relative Value Dividend Appreciation, and TCW Relative Value Mid Cap strategies and funds. She joined TCW through the acquisition of SG Cowen Asset Management in 2001. She had been a Senior Portfolio Manager at Cowen Asset Management since 1995 and continues in that role at TCW. She has more than 30 years of investment experience. Before joining Cowen, she was Vice President and Portfolio Manager at Kidder, Peabody & Co from 1986 to 1995. Prior to that, she was Vice President at Lehman Management Company from 1985 to 1986 and an Equity Analyst with Prudential Insurance from 1982 to 1985. In 2007, Ms. Jaffee was named the Separately Managed Accounts Award winner in the Large Cap Equity category by Standard & Poor’s and its award partners Prima Capital and Investment Advisor magazine. The TCW Relative Value Large Cap, Dividend Appreciation, and Mid Cap mutual funds have been each awarded Wall Street Journal’s “Category Kings” in their respective categories, multiple times in 2012, and the TCW Dividend Appreciation Fund was ranked the #1, top performing fund among Lipper Equity Income Funds for 2012. In 2013, the TCW Relative Value Large Cap mutual fund was ranked #1 fund for the first quarter and the #6 fund for the one-year period ending March 31, 2013 among Large Cap Value peers, while the Dividend Appreciation Fund ranked #2 for the quarter and #3 for the one-year period ending March 31, 2013 among Equity Income peers. Ms. Jaffee holds a BA in Economics from Wellesley College (1982). She has completed post-graduate work in Finance and Accounting at Rutgers University Graduate School of Management and is a CFA charterholder. Ms. Jaffee is also a member of the New York Society of Security Analysts, the Economic Club of New York, and the CFA Society.

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