CW Completes Conversion of Flexible Income Mutual Fund to ETF

TCW continues strategic expansion of ETF suite with third conversion of the year

LOS ANGELES–(BUSINESS WIRE)–The TCW Group, a leading global asset management firm, announced today that it has completed the conversion of TCW’s MetWest Flexible Income Fund (Ticker: MWFEX) into an exchange-traded fund (ETF): the TCW Flexible Income ETF (Ticker: FLXR).

FLXR is an actively managed ETF designed for investors seeking consistent income. It has the flexibility to invest across sectors, allowing allocation shifts based on changing market conditions. With inflation continuing to be top of mind, we believe generating consistent income is a growing requirement for today’s investors.

“Over the past half-century, TCW has built a leading fixed income business committed to delivering sustained returns for clients, backed by our experienced portfolio management team,” said Bryan Whalen, Chief Investment Officer and Generalist Portfolio Manager in TCW’s Fixed Income Group. “This conversion marks a natural next step, delivering our strong track record in an easy-to-access ETF.”

FLXR is the newest addition to TCW’s suite of actively managed ETFs, which aim to provide investors with the benefits of transparency, low cost, and intraday trading flexibility. TCW continues to expand its ETF offerings, announcing the completion of its first two conversions in May.

“We are excited to add FLXR to our ETF lineup,” said Jennifer Grancio, Global Head of Distribution at TCW. “FLXR is a smart way to add diversified income to a portfolio, and we look forward to growing our offering for our clients who are demanding ETFs.”

The TCW Flexible Income ETF (Ticker: FLXR) will join TCW’s existing ETF suite:

ETFFund Overview
TCW Transform Systems ETF (Ticker: NETZ)An actively managed ETF that seeks to invest in 20 to 30 companies across sectors that are driving and benefiting from the energy transition.
TCW Transform Supply Chain ETF (Ticker: SUPP)An actively managed ETF that seeks to invest in 20 to 30 companies across sectors that are driving and benefiting from the reshoring of global supply chains to North America.
TCW Artificial Intelligence ETF (Ticker: AIFD)An actively managed ETF that seeks to invest in 30 to 50 companies across sectors that are leading the development and commercialization of artificial intelligence technology.
TCW Compounders ETF (Ticker: GRW)An actively managed ETF that seeks to invest in 20 to 30 industry leading companies with predictable business models generating free cash flows that we expect to compound returns for the long term.
TCW Transform 500 ETF (Ticker: VOTE)A low-cost, passive ETF providing exposure to 500 of the largest U.S. publicly traded stocks. By actively voting and directly engaging companies on material issues, TCW drives long-term value.

About The TCW Group

TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets. With over half a century of investment experience, TCW manages approximately $200 billion in client assets today. Through its ETFs, MetWest Funds, and TCW Funds, TCW manages one of the largest fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.

Important Information

Before investing you should carefully consider the fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from etf.tcw.com. Please read the prospectus carefully before you invest.

Shares of any exchange traded fund (ETF) are bought and sold at market price (not net asset value (NAV)), may trade at a discount or premium to NAV and are not individually redeemed from the Funds. Brokerage commissions will reduce returns. NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.

The TCW Flexible Income ETF (FLXR) acquired the assets and liabilities of the predecessor mutual fund, the MetWest Flexible Income Fund, on June 24, 2024. As a result of the transaction, the ETF adopted the accounting and performance history of its predecessor mutual fund. Performance results shown prior to June 24, 2024, reflect the performance of the predecessor mutual fund. The ETF’s investment objectives, strategies and policies are substantially similar to those of the predecessor mutual fund and it was managed by the same portfolio managers. The NAV returns shown prior to June 24, 2024 reflects the predecessor mutual fund’s NAV. Prior to June 24, 2024, market returns are based on the predecessor mutual fund’s NAV. The ETF has lower expenses than the predecessor mutual fund. Had the predecessor mutual fund for periods prior to June 24, 2024, been structured as an ETF, its performance may have differed. The Fund’s (and the predecessor mutual fund’s) past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The listing date of the ETF is June 24, 2024, but note that the ETF is the accounting and performance survivor of the predecessor mutual fund, whose inception date is November 30, 2018.

The Fund is considered to be non-diversified, which means that each may invest more of its assets in, and be more exposed to the risks of, the securities of a single issuer or a smaller number of issuers, which may increase each Fund’s volatility.

The Funds are advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. Effective October 13, 2023, TCW acquired the Transform ETF business from Engine No. 1 and the Transform funds’ adviser became TCW Investment Management Company LLC. Prior to that date, the Transform funds’ adviser was Fund Management at Engine No. 1 LLC

Contacts

Media Contact:
Doug Morris
Head of Corporate Communications
+1-213-244-0509
doug.morris@tcw.com

Published on June 24, 2024

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