MWCIX vs. MWLDX

Last updated Jun 3, 2026

MWCIX (Metropolitan West Unconstrained Bond Fund) and MWLDX (Metropolitan West Low Duration Bond Fund) are both mutual funds - MWCIX is a Nontraditional Bonds fund managed by Metropolitan West Funds, while MWLDX is a Short-Term Bond fund managed by Metropolitan West Funds. Over the past 10 years, MWCIX returned 2.87%/yr vs 1.91%/yr for MWLDX. A 0.67 correlation means they provide meaningful diversification when combined. MWCIX charges 0.76%/yr vs 0.62%/yr for MWLDX.

Performance

MWCIX vs. MWLDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Unconstrained Bond Fund (MWCIX) and Metropolitan West Low Duration Bond Fund (MWLDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWCIX achieves a 1.41% return, which is significantly higher than MWLDX's 0.54% return. Over the past 10 years, MWCIX has outperformed MWLDX with an annualized return of 2.87%, while MWLDX has yielded a comparatively lower 1.91% annualized return.

MWCIX

• 1D: -0.10%
• 1M: 0.35%
• YTD: 1.41%
• 6M: 1.80%
• 1Y: 6.28%
• 3Y*: 5.92%
• 5Y*: 2.01%
• 10Y*: 2.87%

MWLDX

• 1D: -0.12%
• 1M: 0.08%
• YTD: 0.54%
• 6M: 1.05%
• 1Y: 3.97%
• 3Y*: 4.33%
• 5Y*: 1.68%
• 10Y*: 1.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MWCIX vs. MWLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MWCIX Metropolitan West Unconstrained Bond Fund	1.41%	7.50%	5.40%	6.07%	-9.39%	0.65%	4.54%	6.49%	1.11%	3.98%
MWLDX Metropolitan West Low Duration Bond Fund	0.54%	5.72%	3.79%	4.82%	-5.70%	-0.33%	3.27%	4.24%	1.59%	1.15%

Correlation

The correlation between MWCIX and MWLDX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011	0.67

The correlation between MWCIX and MWLDX shifts across timeframes, from 0.67 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MWCIX vs. MWLDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MWCIX

MWCIX Risk / Return Rank: 83
MWCIX Sharpe Ratio Rank: 72
MWCIX Sortino Ratio Rank: 90
MWCIX Omega Ratio Rank: 84
MWCIX Calmar Ratio Rank: 84
MWCIX Martin Ratio Rank: 86

MWLDX

MWLDX Risk / Return Rank: 60
MWLDX Sharpe Ratio Rank: 43
MWLDX Sortino Ratio Rank: 67
MWLDX Omega Ratio Rank: 62
MWLDX Calmar Ratio Rank: 69
MWLDX Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MWCIX vs. MWLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Unconstrained Bond Fund (MWCIX) and Metropolitan West Low Duration Bond Fund (MWLDX). 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.

	MWCIX	MWLDX	Difference
Sharpe ratio Return per unit of total volatility	2.47	1.91	+0.56
Sortino ratio Return per unit of downside risk	4.44	3.43	+1.01
Omega ratio Gain probability vs. loss probability	1.57	1.44	+0.13
Calmar ratio Return relative to maximum drawdown	3.94	3.22	+0.73
Martin ratio Return relative to average drawdown	16.54	11.95	+4.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWCIX vs. MWLDX - Sharpe Ratio Comparison

The current MWCIX Sharpe Ratio is 2.47, which is comparable to the MWLDX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of MWCIX and MWLDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MWCIX	MWLDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	1.91	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.59	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.85	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	1.27	+0.20

Drawdowns

MWCIX vs. MWLDX - Drawdown Comparison

The maximum MWCIX drawdown since its inception was -13.00%, smaller than the maximum MWLDX drawdown of -19.48%. Use the drawdown chart below to compare losses from any high point for MWCIX and MWLDX.

Drawdown Indicators

	MWCIX	MWLDX	Difference
Max Drawdown Largest peak-to-trough decline	-13.00%	-19.48%	+6.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.62%	-1.29%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-3.33%	-1.75%	-1.58%
Max Drawdown (5Y) Largest decline over 5 years	-13.00%	-8.36%	-4.64%
Max Drawdown (10Y) Largest decline over 10 years	-13.00%	-8.36%	-4.64%
Current Drawdown Current decline from peak	-0.10%	-0.31%	+0.21%
Average Drawdown Average peak-to-trough decline	-1.50%	-1.26%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.35%	+0.04%

Volatility

MWCIX vs. MWLDX - Volatility Comparison

Metropolitan West Unconstrained Bond Fund (MWCIX) has a higher volatility of 0.88% compared to Metropolitan West Low Duration Bond Fund (MWLDX) at 0.63%. This indicates that MWCIX's price experiences larger fluctuations and is considered to be riskier than MWLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWCIX	MWLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.63%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	1.93%	1.54%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	2.51%	2.09%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	2.86%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.16%	2.26%	+0.90%

MWCIX vs. MWLDX - Expense Ratio Comparison

MWCIX has a 0.76% expense ratio, which is higher than MWLDX's 0.62% expense ratio.

Dividends

MWCIX vs. MWLDX - Dividend Comparison

MWCIX's dividend yield for the trailing twelve months is around 5.42%, more than MWLDX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MWCIX Metropolitan West Unconstrained Bond Fund	5.42%	5.26%	5.93%	4.87%	3.50%	3.39%	3.46%	3.89%	3.77%	2.81%	3.22%	2.15%
MWLDX Metropolitan West Low Duration Bond Fund	3.79%	3.75%	3.71%	3.22%	1.56%	0.69%	1.39%	2.41%	2.50%	1.38%	1.52%	1.12%

Frequently Asked Questions

Can I hold both MWCIX and MWLDX in my portfolio?

MWCIX and MWLDX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MWCIX or MWLDX?

MWCIX has higher volatility (0.88%) compared to MWLDX (0.63%). In terms of maximum drawdown, MWCIX dropped -13.00% vs MWLDX's -19.48%.

Which has better risk-adjusted returns?

MWCIX currently has the higher Sharpe Ratio (2.47 vs 1.91), 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.