MWCIX vs. MWESX
MWCIX (Metropolitan West Unconstrained Bond Fund) and MWESX (MetWest ESG Securitized Fund) are both mutual funds - MWCIX is a Nontraditional Bonds fund managed by Metropolitan West Funds, while MWESX is a Intermediate Core-Plus Bond fund managed by Metropolitan West Funds. Over the past 3 years, MWCIX returned 5.89%/yr vs 7.41%/yr for MWESX. Their correlation of 0.88 suggests significant overlap in exposure. MWCIX charges 0.76%/yr vs 0.49%/yr for MWESX.
Performance
MWCIX vs. MWESX - Performance Comparison
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Returns By Period
In the year-to-date period, MWCIX achieves a 1.22% return, which is significantly higher than MWESX's 0.82% return.
MWCIX
- 1D
- 0.10%
- 1M
- 0.65%
- YTD
- 1.22%
- 6M
- 1.70%
- 1Y
- 5.87%
- 3Y*
- 5.89%
- 5Y*
- 1.98%
- 10Y*
- 2.85%
MWESX
- 1D
- 0.11%
- 1M
- 0.95%
- YTD
- 0.82%
- 6M
- 1.34%
- 1Y
- 5.88%
- 3Y*
- 7.41%
- 5Y*
- —
- 10Y*
- —
MWCIX vs. MWESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MWCIX Metropolitan West Unconstrained Bond Fund | 1.22% | 7.50% | 5.40% | 6.07% | -9.39% | -0.25% |
MWESX MetWest ESG Securitized Fund | 0.82% | 8.16% | 8.45% | 5.41% | -14.50% | -0.35% |
Correlation
The correlation between MWCIX and MWESX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.88 |
The correlation between MWCIX and MWESX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
MWCIX vs. MWESX — Risk / Return Rank
MWCIX
MWESX
MWCIX vs. MWESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Unconstrained Bond Fund (MWCIX) and MetWest ESG Securitized Fund (MWESX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| MWCIX | MWESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.28 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.18 | +1.47 |
| Martin ratioReturn relative to average drawdown | 15.11 | 6.29 | +8.82 |
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Drawdowns
MWCIX vs. MWESX - Drawdown Comparison
The maximum MWCIX drawdown since its inception was -13.00%, smaller than the maximum MWESX drawdown of -19.57%. Use the drawdown chart below to compare losses from any high point for MWCIX and MWESX.
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Drawdown Indicators
| MWCIX | MWESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.00% | -19.57% | +6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -2.71% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -6.33% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.00% | — | — |
Current DrawdownCurrent decline from peak | -0.29% | -1.22% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -1.49% | -6.81% | +5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.94% | -0.55% |
Volatility
MWCIX vs. MWESX - Volatility Comparison
The current volatility for Metropolitan West Unconstrained Bond Fund (MWCIX) is 0.89%, while MetWest ESG Securitized Fund (MWESX) has a volatility of 1.21%. This indicates that MWCIX experiences smaller price fluctuations and is considered to be less risky than MWESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWCIX | MWESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.21% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 2.88% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.52% | 3.84% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 6.79% | -3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 6.79% | -3.63% |
MWCIX vs. MWESX - Expense Ratio Comparison
MWCIX has a 0.76% expense ratio, which is higher than MWESX's 0.49% expense ratio.
Dividends
MWCIX vs. MWESX - Dividend Comparison
MWCIX's dividend yield for the trailing twelve months is around 5.43%, more than MWESX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MWCIX Metropolitan West Unconstrained Bond Fund | 5.43% | 5.26% | 5.93% | 4.87% | 3.50% | 3.39% | 3.46% | 3.89% | 3.77% | 2.81% | 3.22% | 2.15% |
MWESX MetWest ESG Securitized Fund | 4.58% | 4.55% | 7.39% | 3.63% | 2.07% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MWCIX and MWESX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWESX has higher volatility (1.21%) compared to MWCIX (0.89%). In terms of maximum drawdown, MWCIX dropped -13.00% vs MWESX's -19.57%.
MWCIX currently has the higher Sharpe Ratio (2.34 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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