MWIGX vs. MWESX

Last updated Jun 24, 2026

MWIGX (Metropolitan West Investment Grade Credit Fund) and MWESX (MetWest ESG Securitized Fund) are both Intermediate Core-Plus Bond funds from Metropolitan West Funds. Over the past 3 years, MWIGX returned 5.41%/yr vs 7.37%/yr for MWESX. Their correlation of 0.91 suggests significant overlap in exposure. MWIGX charges 1.87%/yr vs 0.49%/yr for MWESX.

Performance

MWIGX vs. MWESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Investment Grade Credit Fund (MWIGX) and MetWest ESG Securitized Fund (MWESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWIGX achieves a -0.05% return, which is significantly lower than MWESX's 0.59% return.

MWIGX

• 1D: -0.25%
• 1M: 0.35%
• YTD: -0.05%
• 6M: 0.32%
• 1Y: 4.37%
• 3Y*: 5.41%
• 5Y*: 0.71%
• 10Y*: —

MWESX

• 1D: -0.23%
• 1M: 0.72%
• YTD: 0.59%
• 6M: 1.10%
• 1Y: 5.39%
• 3Y*: 7.37%
• 5Y*: —
• 10Y*: —

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

MWIGX vs. MWESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MWIGX Metropolitan West Investment Grade Credit Fund	-0.05%	7.99%	3.82%	6.55%	-13.01%	-0.66%
MWESX MetWest ESG Securitized Fund	0.59%	8.16%	8.45%	5.41%	-14.50%	-0.35%

Correlation

The correlation between MWIGX and MWESX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.91

The correlation between MWIGX and MWESX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

MWIGX vs. MWESX — Risk / Return Rank

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

MWIGX

MWIGX Risk / Return Rank: 29
MWIGX Sharpe Ratio Rank: 28
MWIGX Sortino Ratio Rank: 32
MWIGX Omega Ratio Rank: 29
MWIGX Calmar Ratio Rank: 30
MWIGX Martin Ratio Rank: 27

MWESX

MWESX Risk / Return Rank: 32
MWESX Sharpe Ratio Rank: 31
MWESX Sortino Ratio Rank: 34
MWESX Omega Ratio Rank: 31
MWESX Calmar Ratio Rank: 34
MWESX Martin Ratio Rank: 28

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.

MWIGX vs. MWESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Investment Grade Credit Fund (MWIGX) 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.

	MWIGX	MWESX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.47	-0.08
Sortino ratio: Return per unit of downside risk	2.17	2.26	-0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	1.93	2.09	-0.16
Martin ratio: Return relative to average drawdown	6.03	6.00	+0.03

MWIGX vs. MWESX - Sharpe Ratio Comparison

The current MWIGX Sharpe Ratio is 1.39, which is comparable to the MWESX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of MWIGX and MWESX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MWIGX vs. MWESX - Drawdown Comparison

The maximum MWIGX drawdown since its inception was -18.32%, smaller than the maximum MWESX drawdown of -19.57%. Use the drawdown chart below to compare losses from any high point for MWIGX and MWESX.

Drawdown Indicators

	MWIGX	MWESX	Difference
Max Drawdown Largest peak-to-trough decline	-18.32%	-19.57%	+1.25%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-2.71%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-3.88%	-6.33%	+2.45%
Max Drawdown (5Y) Largest decline over 5 years	-18.32%	—	—
Current Drawdown Current decline from peak	-1.31%	-1.45%	+0.14%
Average Drawdown Average peak-to-trough decline	-4.45%	-6.80%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.94%	-0.19%

Volatility

MWIGX vs. MWESX - Volatility Comparison

Metropolitan West Investment Grade Credit Fund (MWIGX) and MetWest ESG Securitized Fund (MWESX) have volatilities of 1.15% and 1.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWIGX	MWESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.12%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	2.89%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	3.85%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	6.79%	-1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.76%	6.79%	-2.03%

MWIGX vs. MWESX - Expense Ratio Comparison

MWIGX has a 1.87% expense ratio, which is higher than MWESX's 0.49% expense ratio.

Dividends

MWIGX vs. MWESX - Dividend Comparison

MWIGX's dividend yield for the trailing twelve months is around 4.07%, less than MWESX's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MWESX MetWest ESG Securitized Fund	4.59%	4.55%	7.39%	3.63%	2.07%	0.15%	0.00%	0.00%	0.00%
MWIGX Metropolitan West Investment Grade Credit Fund	4.07%	3.70%	4.52%	4.97%	6.33%	4.25%	9.21%	12.03%	3.98%

Frequently Asked Questions

Can I hold both MWIGX and MWESX in my portfolio?

With a correlation of 0.91, MWIGX and MWESX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MWIGX or MWESX?

MWIGX has higher volatility (1.15%) compared to MWESX (1.12%). In terms of maximum drawdown, MWIGX dropped -18.32% vs MWESX's -19.57%.

Which has better risk-adjusted returns?

MWESX currently has the higher Sharpe Ratio (1.47 vs 1.39), 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.