Fund Evaluator:
TCW MetWest Strategic Income M (MWSTX)
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Fund Details
TCW MetWest Strategic Income M Overview
TCW MetWest Strategic Income M (MWSTX) is an actively managed Taxable Bond Nontraditional Bond fund. TCW launched the fund in 2003.
The investment seeks to maximize long-term total return without tracking any particular markets or indices. The fund pursues its objective by utilizing a flexible investment approach that allocates investments across a range of global investment opportunities related to credit, currencies and interest rates. It may invest up to 50% of its assets in debt securities rated below investment grade (commonly known as “junk bonds”), or unrated and determined by the Adviser to be of comparable quality.
About TCW MetWest Strategic Income M (MWSTX)
There are 3 members of the management team with an average tenure of 9.22 years: Bryan Whalen (2004), Jerry Cudzil (2023), Ruben Hovhannisyan (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3-M Treasury Bill + 2% index with a weighting of 100%. TCW MetWest Strategic Income M has 544 securities in its portfolio. The top 10 holdings constitute 31.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
TCW MetWest Strategic Income M is part of the Fixed Income global asset class and is within the Taxable Bond fund group. TCW MetWest Strategic Income M has 7.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1%. There is 0.0% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 86.8% (79.5% domestic bond, 7.4% foreign bond and 0.0% convertible bond). TCW MetWest Strategic Income M has 12.6% of the portfolio in cash.
Assets Under Management
The fund has $29 million in total assets, which is below the $667 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MWSTX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The TCW MetWest Strategic Income M expense ratio is high compared to funds in the Nontraditional Bond category. TCW MetWest Strategic Income M has an expense ratio of 1.04%, which is 27% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. TCW MetWest Strategic Income M has a portfolio turnover rate of 302%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 306% for the Nontraditional Bond category.
Recently, in the month of August 2026, TCW MetWest Strategic Income M returned 0.4%, which earned it a grade of C, as the Nontraditional Bond category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
TCW MetWest Strategic Income M has a trailing yield of 4.90%, which is below the 4.93% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
TCW MetWest Strategic Income M Grades
Year to date, the fund has returned 1.9%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 4.0% over the past year (grade of B), 6.4% over the past three years (grade of B) and 3.2% per year over the past five years (grade of B) and 3.4% per year over the past 10 years (grade of C).
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MWSTX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MWSTX Return (NAV) | 0.4% | 0.4% | 4.0% | 6.4% | 3.2% | 3.4% |
| MWSTX Grade | C | C | B | B | B | C |
| +/- Category | -0.1% | -0.1% | 0.1% | 0.6% | 0.6% | 0.3% |
| Nontraditional Bond Avg | 0.5% | 0.5% | 3.9% | 5.8% | 2.5% | 3.1% |
| MWSTX Tax Cost Ratio | na | na | 2.5% | 2.7% | 3.2% | 2.5% |
MWSTX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MWSTX Return (NAV) | 1.9% | 7.4% | 5.9% | 8.8% | -6.9% | 2.2% | 4.9% | 5.8% | 0.7% | 3.8% | 2.9% |
| MWSTX Grade | C | B | C | B | C | B | C | C | B | C | F |
| +/- Category | 0.1% | 0.6% | 0.5% | 2.2% | -0.9% | 0.8% | -0.6% | -0.7% | 1.5% | -0.3% | -3.6% |
| Nontraditional Bond Avg | 1.8% | 6.8% | 5.4% | 6.5% | -6.0% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 3.3% |
| Total Risk Index: | 0.27 - Low |
| Category Risk Index: | 0.93 - Average |
| Category Risk Grade: | C (56% Rank) |
| Beta: | 0.57 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na Limited Sensitivity |
| Yield: | 4.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $59 Mil |
| Fund Total Assets: | $ 29 Mil |
| Share Class Type: | M |
| Portfolio Turnover: | 302% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 21.7 years | |||
| Average Tenure: 9.2 years | |||
| Managers (Year): Whalen Bryan (2004), Cudzil Jerry (2023), Hovhannisyan Ruben (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 544 |
| % in Top 10 Holdings: | 31.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 79.5% |
| Foreign Bond: | 7.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 12.6% |
Purchase Information
| Fund Family: | TCW |
| Phone Number: | 800-386-3829 |
| Website: | www.mwamllc.com |
| Status: | Open |
| Inception Date: | June 30, 2003 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.04% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | TCW MetWest Strategic Income M |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
