TCW MetWest High Yield Bond M
MWHYX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- LOS ANGELES CA 90017 Los Angeles CA United States of America 90017
- IPO Date
- Oct 2, 2002
- CIK
- 0001028621
- Website
- tcw.com
- Similar Companies
- Business
- TCW MetWest High Yield Bond Fund (MWHYX) is an open-end mutual fund that seeks total return by investing primarily in high yield bonds, also known as junk bonds, rated below investment grade or unrated bonds of comparable quality; under normal circumstances, the fund allocates at least 80% of its net assets plus borrowings for investment purposes to these securities, with a portfolio duration of two to eight years and dollar-weighted average maturity ranging from two to fifteen years. The fund's portfolio emphasizes corporate bonds (approximately 82.90%), bank loans (8.78%), preferred stock (3.99%), and cash equivalents (1.09%), with diversification across US bonds (79.60%) and non-US bonds (12.08%), targeting sectors such as derivatives, corporate debt from issuers like Centene Corp., CSC Holdings, and Wynn Las Vegas, and other fixed income instruments. Managed by a team including Jerry Cudzil (since 2019), Steven Purdy (since 2019), and Brian Gelfand (since 2022), the fund operates within the high yield bond category, offering a TTM yield of 6.49%, monthly dividend payouts, and a net expense ratio of 0.85-0.86%, with total net assets of approximately $428-430 million and a minimum initial investment of $5,000. The fund traces its inception to October 2, 2002 (launched September 30, 2002), and is part of the TCW Metropolitan West Funds family, managed by Metropolitan West Asset Management, LLC (MetWest), a fixed income specialist that was acquired by The TCW Group, Inc. in December 2009, enhancing its platform with broader resources while preserving MetWest's investment processes and key personnel such as former CIO Tad Rivelle. Headquartered in Los Angeles, California (with administrative addresses in Wilmington, Delaware), the fund primarily serves US investors through platforms like NASDAQ, focusing on institutional and retail clients seeking income and capital appreciation in the high yield fixed income segment. Recent developments include a change in fund administrator effective around December 2024, with the Board of Trustees approving U.S. Bancorp Fund Services, LLC to replace BNY Mellon Investment Servicing and The Bank of New York Mellon, alongside State Street Bank and Trust Company assuming related roles to streamline operations. As of mid-2025, the fund maintained its core strategy amid a steepening yield curve and macroeconomic challenges like inflation and fiscal deficits, with no reported acquisitions, major partnerships, funding rounds, or product launches specific to MWHYX in 2024-2025, though the broader TCW/MetWest organization launched a new asset-backed finance business in January 2024. The share class remains active with stable management and performance tracking the Bloomberg US High Yield 2% Issuer Cap TR index.