MWHYX vs. MWCIX
MWHYX (Metropolitan West High Yield Bond Fund) and MWCIX (Metropolitan West Unconstrained Bond Fund) are both mutual funds - MWHYX is a High Yield Bonds fund managed by Metropolitan West Funds, while MWCIX is a Nontraditional Bonds fund managed by Metropolitan West Funds. Over the past 10 years, MWHYX returned 4.44%/yr vs 2.75%/yr for MWCIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. MWHYX charges 0.85%/yr vs 0.76%/yr for MWCIX.
Performance
MWHYX vs. MWCIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MWHYX having a 1.17% return and MWCIX slightly higher at 1.18%. Over the past 10 years, MWHYX has outperformed MWCIX with an annualized return of 4.44%, while MWCIX has yielded a comparatively lower 2.75% annualized return.
MWHYX
- 1D
- 0.22%
- 1M
- -0.87%
- 6M
- 0.55%
- YTD
- 1.17%
- 1Y
- 3.15%
- 3Y*
- 6.26%
- 5Y*
- 2.19%
- 10Y*
- 4.44%
- ALL TIME*
- 6.77%
MWCIX
- 1D
- 0.19%
- 1M
- -0.48%
- 6M
- 0.71%
- YTD
- 1.18%
- 1Y
- 4.09%
- 3Y*
- 5.58%
- 5Y*
- 1.85%
- 10Y*
- 2.75%
- ALL TIME*
- 4.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MWHYX vs. MWCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MWHYX Metropolitan West High Yield Bond Fund | 1.17% | 6.09% | 6.24% | 10.77% | -12.58% | 2.85% | 11.47% | 12.30% | -0.91% | 6.23% |
MWCIX Metropolitan West Unconstrained Bond Fund | 1.18% | 7.50% | 5.40% | 6.07% | -9.39% | 0.65% | 4.54% | 6.49% | 1.11% | 3.98% |
Correlation
The correlation between MWHYX and MWCIX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.59 |
The correlation between MWHYX and MWCIX shifts across timeframes, from 0.59 (1 year) to 0.69 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MWHYX vs. MWCIX — Risk / Return Rank
MWHYX
MWCIX
MWHYX vs. MWCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West High Yield Bond Fund (MWHYX) and Metropolitan West Unconstrained Bond Fund (MWCIX). 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.
| MWHYX | MWCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.42 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 3.02 | -1.25 |
| Martin ratioReturn relative to average drawdown | 7.54 | 11.94 | -4.40 |
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Drawdowns
MWHYX vs. MWCIX - Drawdown Comparison
The maximum MWHYX drawdown since its inception was -28.94%, which is greater than MWCIX's maximum drawdown of -13.00%. Use the drawdown chart below to compare losses from any high point for MWHYX and MWCIX.
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Drawdown Indicators
| MWHYX | MWCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.94% | -13.00% | -15.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -1.62% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.10% | -3.23% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.95% | -13.00% | -2.95% |
Max Drawdown (10Y)Largest decline over 10 years | -15.95% | -13.00% | -2.95% |
Current DrawdownCurrent decline from peak | -0.98% | -0.58% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -1.48% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.41% | +0.06% |
Volatility
MWHYX vs. MWCIX - Volatility Comparison
The current volatility for Metropolitan West High Yield Bond Fund (MWHYX) is 0.54%, while Metropolitan West Unconstrained Bond Fund (MWCIX) has a volatility of 0.64%. This indicates that MWHYX experiences smaller price fluctuations and is considered to be less risky than MWCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWHYX | MWCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 0.64% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 2.01% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.05% | 2.47% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.59% | 3.65% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 3.17% | +1.28% |
MWHYX vs. MWCIX - Expense Ratio Comparison
MWHYX has a 0.85% expense ratio, which is higher than MWCIX's 0.76% expense ratio.
Dividends
MWHYX vs. MWCIX - Dividend Comparison
MWHYX's dividend yield for the trailing twelve months is around 6.13%, more than MWCIX's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MWCIX Metropolitan West Unconstrained Bond Fund | 4.82% | 5.26% | 5.93% | 4.87% | 3.50% | 3.39% | 3.46% | 3.89% | 3.77% | 2.81% | 3.22% | 2.15% |
MWHYX Metropolitan West High Yield Bond Fund | 6.13% | 6.04% | 6.59% | 6.20% | 3.94% | 2.90% | 3.54% | 4.11% | 4.60% | 3.42% | 4.17% | 4.37% |
Frequently Asked Questions
MWHYX and MWCIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWCIX has higher volatility (0.64%) compared to MWHYX (0.54%). In terms of maximum drawdown, MWHYX dropped -28.94% vs MWCIX's -13.00%.
MWCIX currently has the higher Sharpe Ratio (1.98 vs 1.17), 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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