MWTRX vs. MWTIX

Last updated Jun 5, 2026

MWTRX (Metropolitan West Total Return Bond Fund) and MWTIX (Metropolitan West Total Return Bond Fund Class I) are both mutual funds - MWTRX is a Intermediate Core-Plus Bond fund managed by Metropolitan West Funds, while MWTIX is a Total Bond Market fund managed by Metropolitan West Funds. Over the past 10 years, MWTRX returned 1.39%/yr vs 1.60%/yr for MWTIX. With a 0.96 correlation, they move nearly in lockstep. MWTRX charges 0.65%/yr vs 0.45%/yr for MWTIX.

Performance

MWTRX vs. MWTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Metropolitan West Total Return Bond Fund (MWTRX) and Metropolitan West Total Return Bond Fund Class I (MWTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWTRX achieves a -0.08% return, which is significantly lower than MWTIX's 0.02% return. Over the past 10 years, MWTRX has underperformed MWTIX with an annualized return of 1.39%, while MWTIX has yielded a comparatively higher 1.60% annualized return.

MWTRX

• 1D: -0.22%
• 1M: 0.04%
• YTD: -0.08%
• 6M: -0.08%
• 1Y: 4.43%
• 3Y*: 3.65%
• 5Y*: -0.69%
• 10Y*: 1.39%

MWTIX

• 1D: -0.22%
• 1M: 0.05%
• YTD: 0.02%
• 6M: 0.16%
• 1Y: 4.68%
• 3Y*: 3.87%
• 5Y*: -0.49%
• 10Y*: 1.60%

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

MWTRX vs. MWTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MWTRX Metropolitan West Total Return Bond Fund	-0.08%	7.29%	0.45%	5.77%	-15.52%	-1.51%	8.79%	8.95%	0.17%	3.10%
MWTIX Metropolitan West Total Return Bond Fund Class I	0.02%	7.51%	0.77%	6.02%	-15.49%	-1.32%	9.00%	9.10%	0.36%	3.43%

Correlation

The correlation between MWTRX and MWTIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 3, 2000	0.96

The correlation between MWTRX and MWTIX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

MWTRX vs. MWTIX — Risk / Return Rank

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

MWTRX

MWTRX Risk / Return Rank: 17
MWTRX Sharpe Ratio Rank: 17
MWTRX Sortino Ratio Rank: 18
MWTRX Omega Ratio Rank: 16
MWTRX Calmar Ratio Rank: 18
MWTRX Martin Ratio Rank: 17

MWTIX

MWTIX Risk / Return Rank: 19
MWTIX Sharpe Ratio Rank: 19
MWTIX Sortino Ratio Rank: 19
MWTIX Omega Ratio Rank: 18
MWTIX Calmar Ratio Rank: 20
MWTIX Martin Ratio Rank: 18

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.

MWTRX vs. MWTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Total Return Bond Fund (MWTRX) and Metropolitan West Total Return Bond Fund Class I (MWTIX). 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.

	MWTRX	MWTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.23	-0.06
Sortino ratio: Return per unit of downside risk	1.76	1.86	-0.10
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.53	1.62	-0.09
Martin ratio: Return relative to average drawdown	4.66	4.87	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWTRX vs. MWTIX - Sharpe Ratio Comparison

The current MWTRX Sharpe Ratio is 1.18, which is comparable to the MWTIX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of MWTRX and MWTIX, 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

	MWTRX	MWTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.23	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	-0.07	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.30	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.92	+0.07

Drawdowns

MWTRX vs. MWTIX - Drawdown Comparison

The maximum MWTRX drawdown since its inception was -20.81%, roughly equal to the maximum MWTIX drawdown of -20.58%. Use the drawdown chart below to compare losses from any high point for MWTRX and MWTIX.

Drawdown Indicators

	MWTRX	MWTIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.81%	-20.58%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-3.34%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-7.14%	-7.09%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-20.51%	-0.16%
Max Drawdown (10Y) Largest decline over 10 years	-20.81%	-20.58%	-0.23%
Current Drawdown Current decline from peak	-5.23%	-4.19%	-1.04%
Average Drawdown Average peak-to-trough decline	-2.64%	-2.77%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.11%	-0.01%

Volatility

MWTRX vs. MWTIX - Volatility Comparison

Metropolitan West Total Return Bond Fund (MWTRX) and Metropolitan West Total Return Bond Fund Class I (MWTIX) have volatilities of 1.58% and 1.52%, 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

	MWTRX	MWTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	1.52%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	3.18%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	4.38%	4.39%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.64%	6.64%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.31%	5.33%	-0.02%

MWTRX vs. MWTIX - Expense Ratio Comparison

MWTRX has a 0.65% expense ratio, which is higher than MWTIX's 0.45% expense ratio.

Dividends

MWTRX vs. MWTIX - Dividend Comparison

MWTRX's dividend yield for the trailing twelve months is around 3.82%, less than MWTIX's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MWTIX Metropolitan West Total Return Bond Fund Class I	4.07%	3.89%	4.38%	4.11%	2.08%	1.12%	6.48%	3.61%	2.91%	2.14%	3.35%	2.94%
MWTRX Metropolitan West Total Return Bond Fund	3.82%	3.69%	4.16%	3.88%	1.91%	0.93%	6.38%	3.38%	2.73%	1.92%	3.10%	2.69%

Frequently Asked Questions

Can I hold both MWTRX and MWTIX in my portfolio?

With a correlation of 0.96, MWTRX and MWTIX 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, MWTRX or MWTIX?

MWTRX has higher volatility (1.58%) compared to MWTIX (1.52%). In terms of maximum drawdown, MWTRX dropped -20.81% vs MWTIX's -20.58%.

Which has better risk-adjusted returns?

MWTIX currently has the higher Sharpe Ratio (1.23 vs 1.18), 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.