TCW Multisector Credit Income ETF
MUSE
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- TCW Multisector Credit Income ETF (MUSE) is an actively managed exchange-traded fund that seeks long-term total return with a focus on income generation through a multisector fixed income portfolio. The fund invests at least 80% of its net assets in high yield securities, bank loans, emerging market debt, securitized products including asset-backed securities and commercial mortgage-backed securities, corporate bonds, and government-related obligations; its portfolio features significant allocations to corporate bonds (40.11%), bank loans (25.19%), and government securities (11.06%), with top holdings such as TCW Funds, Xerox Holdings Corp term loans, and Energean Israel Finance bonds. Launched on November 15, 2024, and domiciled in the United States, MUSE trades on the NYSE Arca exchange with approximately $50 million in assets under management and a net expense ratio of 0.56%. MUSE forms part of the TCW Fixed Income ETF platform managed by TCW Investment Management Company LLC, a Los Angeles-based asset manager founded in 1971 and headquartered at 515 South Flower Street. TCW, which oversees around $199 billion in assets, targets institutional and individual investors including pension plans, endowments, financial advisors, and high-net-worth individuals with its broad offerings across fixed income, equities, and alternatives; the firm operates globally with offices in Los Angeles, New York, Boston, London, Milan, Hong Kong, Singapore, and Tokyo. In late 2024, TCW significantly expanded its ETF lineup by launching five new actively managed fixed income ETFs, including MUSE alongside TCW AAA CLO ETF (ACLO), TCW Corporate Bond ETF (IGCB), TCW High Yield Bond ETF (HYBX), and TCW Senior Loan ETF (SLNZ), building on its entry into the ETF space via the 2023 acquisition of Engine No. 1’s ETF business. By March 2025, TCW's fixed income ETF platform surpassed $1 billion in assets under management, reaching over $1.2 billion, reflecting rapid growth in its active fixed income strategies. The fund is managed by a team including David Robbins, Steven Purdy, Jerry Cudzil, Brian Gelfand, and Christopher Hays, who employ a flexible approach to navigate credit sectors amid varying market conditions.