MetWest Low Duration Bond Fund

At-A-Glance

Ticker Symbol
Daily NAV

Investment Team

  • Tad Rivelle
  • Laird R. Landmann
  • Stephen M. Kane, CFA
  • Bryan T. Whalen, CFA
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Fund Name Daily NAV1 Daily1 MTD1 YTD1 3-mo2
Annualized Performance2
1-yr
3-yr 5-yr 10-yr3 Since Inc3
Expense Ratio
Net
Gross
MetWest Low Duration Bond Fund I
[Inception Date: 03/31/2000]
$8.67 0.00% -0.15% -0.15% 0.01% 1.35% 1.08% 1.37% 2.44% 3.33% 0.39% 0.39%
MetWest Low Duration Bond Fund M
[Inception Date: 03/31/1997]
$8.67 0.00% -0.16% -0.16% -0.05% 1.15% 0.85% 1.17% 2.25% 3.70% 0.61% 0.62%
ICE BofAML 1-3 Year US Treasury - - - - -0.25% 0.42% 0.62% 0.56% 1.44% 2.84% - -
ICE BofAML 1-3 Year US Treasury - - - - -0.25% 0.42% 0.62% 0.56% 1.44% 3.26% - -
1 as of 01/17/18 (updated daily)
2 Performance as of 12/31/2017 (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 Low Duration Bond Fund seeks to maximize current income consistent with preservation of capital.

Investment Approach

The Fund pursues its objective by investing, under normal circumstances, at least 70% of its net assets in highly rated fixed income securities or unrated securities that are determined by the Adviser to be of similar quality. Up to 30% of the Fund’s net assets may be invested in securities rated below highly rated securities but not more than 20% may be below investment grade. The Fund also invests at least 80% of its net assets plus borrowings for investment purposes in fixed income securities it regards as bonds. Under normal conditions, the portfolio duration is up to three years and the dollar-weighted average maturity ranges from one to five years. 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.

Investments include various types of bonds and other securities, typically corporate bonds, notes, collateralized bond obligations, collateralized debt obligations, mortgage-related and asset-backed securities, bank loans, money-market securities, swaps, futures, municipal securities, credit default swaps, private placements, and restricted securities. These investments may have interest rates that are fixed, variable or floating.

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 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 such as reverse repurchase agreements.

Performance Returns

as of 12/31/2017 (updated monthly)

Sector Value (%)

  Portfolio
Credit 32.35
Mortgage Backed 29.85
U.S. Government 25.83
Asset Backed 6.17
Cash and Equivalents 5.74
Other 0.06
as of 12/31/2017 (updated monthly)

Legal Disclosures


The source for all charts and tables above is TCW
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.
Net and Gross Expense Ratios
Annual fund operating expenses as stated in the Prospectus dated July 28, 2017.

For MWLDX the total expense ratio (gross and net) is 0.62%. For more information about fees and expenses, please read the prospectus.

For MWLIX the total expense ratio (gross and net) is 0.40%. For more information about fees and expenses, please read the prospectus.


BofA Merrill Lynch 1-3 Year U.S. Treasury Index – A subset of The Bank of America Merrill Lynch U.S. Treasury Index including all securities with a remaining term to final maturity less than 3 months.

About the Index or Indices

The index listed 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.


It is important to note that the Fund is not guaranteed by the U.S. Government. Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and price volatility risk. Funds investing in bonds can lose their value as interest rates rise and an investor can lose principal.

Mortgage-backed and other asset-backed securities often involve risks that are different from or more acute than risks associated with other types of debt instruments. MBS related to floating rate loans may exhibit greater price volatility than a fixed rate obligation of similar credit quality. With respect to non-agency MBS, there are no direct or indirect government or agency guarantees of payments in pools created by non-governmental issuers. Non-agency MBS are also not subject to the same underwriting requirements for the underlying mortgages that are applicable to those mortgage-related securities that have a government or government-sponsored entity guarantee.
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 800-241-4671 or you may download the Prospectus. Please read it carefully.


The MetWest Funds are distributed by Foreside Funds Distributors LLC. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc.

Investment Team

  • Photo: Tad Rivelle
    Tad Rivelle
    Group Managing Director

    Tad Rivelle is Chief Investment Officer, Fixed Income, overseeing more than $180 billion in fixed income assets, including over $100 billion of fixed income mutual fund as-sets under the TCW Funds and MetWest Funds brands. Prior to joining TCW, Tad served as Chief Investment Officer for MetWest, an independent institutional investment manager that he cofounded. The MetWest investment team has been recognized for a number of performance related awards, including Morningstar’s Fixed Income Manag-er of the Year. Mr. Rivelle was also the co-director of fixed income at Hotchkis & Wiley and a portfolio manager at PIMCO. Tad holds a BS in Physics from Yale University, an MS in Applied Mathematics from University of Southern California, and an MBA from the UCLA Anderson School of Management.

  • Photo: Laird R. Landmann
    Laird R. Landmann
    Group Managing Director

    Mr. Landmann is a Generalist Portfolio Manager in the 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 TCW and Metropolitan West Mutual Funds. Mr. Landmann currently co-manages many of TCW and MetWest’s mutual funds, including the MetWest Total Return Bond Fund, the MetWest High Yield Bond Fund and the TCW Core Fixed Income Fund, and leads the fixed in-come group’s risk management efforts. 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.

  • Photo: Stephen M. Kane, CFA
    Stephen M. Kane, CFA
    Group Managing Director

    Mr. Kane is a Generalist Portfolio Manager in the 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. He is a CFA charterholder.

  • Photo: Bryan T. Whalen, CFA
    Bryan T. Whalen, CFA
    Group Managing Director

    Mr. Whalen is a Generalist Portfolio Manager in the 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.

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