- ISIN
- US87234N7084
- CUSIP
- 87234N708
- Issuer
- TCW
- Inception Date
- Feb 26, 1993
- Category
- High Yield Bonds
- Min. Investment
- $2,000
- Distribution Policy
- Accumulating
- Asset Class
- Bond
Share Price Chart
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Performance
TGHYX Performance Chart
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Returns By Period
TCW High Yield Bond Fund
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.21%
- 1M
- 0.23%
- YTD
- 8.39%
- 6M
- 10.39%
- 1Y
- 24.03%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.61%
TGHYX Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.33% | 0.17% | 0.83% | -1.32% | 1.17% | 0.83% | 1.54% | 1.52% | 1.34% | 0.04% | -0.39% | 0.00% | 6.19% |
| 2023 | 3.25% | -1.83% | 1.37% | 0.68% | -1.01% | 1.03% | 1.19% | 0.34% | -1.02% | -1.03% | 4.02% | 3.38% | 10.65% |
| 2022 | -2.33% | -1.18% | -0.58% | -3.39% | 0.53% | -5.42% | 5.41% | -1.68% | -4.39% | 3.12% | 1.50% | -0.19% | -8.76% |
| 2021 | 0.14% | 0.15% | -0.44% | 0.88% | 0.29% | 1.02% | 0.43% | 0.58% | 0.14% | -0.14% | -1.16% | 1.54% | 3.46% |
Benchmark Metrics
TCW High Yield Bond Fund has an annualized alpha of 3.30%, beta of 0.07, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since January 03, 1994.
- This fund participated in 33.33% of S&P 500 Index downside but only 29.57% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.03 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.03 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.30%
- Beta
- 0.07
- R²
- 0.03
- Upside Capture
- 29.57%
- Downside Capture
- 33.33%
Expense Ratio
TGHYX has an expense ratio of 0.55%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TCW High Yield Bond Fund (TGHYX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TGHYX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.65 | — |
| Martin ratioReturn relative to average drawdown | — | 11.88 | — |
Dividends
Dividend History
TCW High Yield Bond Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $1.80 | $1.56 | $1.92 | $1.32 | $1.41 | $1.56 | $1.38 | $1.29 | $1.36 |
Dividend yield | 0.00% | 5.91% | 5.32% | 5.70% | 3.84% | 4.32% | 5.17% | 4.35% | 4.12% | 4.50% |
Monthly Dividends
The table displays the monthly dividend distributions for TCW High Yield Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.16 | $0.16 | $0.16 | $0.16 | $0.00 | $0.00 | $1.55 |
| 2023 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $0.15 | $1.80 |
| 2022 | $0.11 | $0.11 | $0.11 | $0.11 | $0.11 | $0.13 | $0.13 | $0.14 | $0.14 | $0.14 | $0.14 | $0.20 | $1.56 |
| 2021 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.82 | $1.92 |
| 2020 | $0.11 | $0.11 | $0.13 | $0.13 | $0.12 | $0.11 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.12 | $1.32 |
| 2019 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.11 | $0.11 | $0.11 | $0.11 | $0.11 | $0.11 | $1.41 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the TCW High Yield Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the TCW High Yield Bond Fund was 34.48%, occurring on Dec 12, 2008. Recovery took 190 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -34.48%Dec 2008 | 1y 6mo | 9mo 8d | 2y 3moJun 2007 - Sep 2009 |
Dot-com crash2000–2002 | -24.33%Oct 2002 | 8y 8mo | 1y 2mo | 9y 11moJan 1994 - Jan 2004 |
COVID crash2020 | -15.17%Mar 2020 | 28d | 2mo 11d | 3mo 9dFeb 2020 - Jun 2020 |
Bear market2022 | -12.85%Sep 2022 | 9mo 4d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
2011 correction2011 | -12.47%Oct 2011 | 4mo 20d | 8mo 20d | 1y 1moMay 2011 - Jun 2012 |
Drawdown Indicators
| TGHYX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.78% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | — | -2.49% | — |
Average DrawdownAverage peak-to-trough decline | — | -10.72% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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