- Last Ratings Update:11/30/2014
- Price as of 11/30/2014 :$5.48
- Net Assets:$277.34 Million
- Peer Rank:66 of 116
- Investment Rating:C+
We rate TCW Strategic Income Fund at C+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a greater than above average total return, low price volatility and low expense structure. The fund invests approximately 90% of its assets in bonds and may be considered for investors seeking a Growth & Income strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The TCW Strategic Income Fund has returned an annual rate of 8.94% since inception. More recently, the fund has generated a total return of 15.24% in the last five years, 13.88% in the last three years, and 5.16% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 76% of them. It has also outpaced 64% of its competitors on a three year basis and 45% of them over the last year for the period ending 11/30/2014. On a year to date basis, TSI has returned 6.56%.
Downside risk has been below average. TSI has a draw down risk of -11.73%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 9.6%. This fund has had a low level of volatility in its monthly performance over the last 36 months. As of 11/30/2014, the fund was trading at a price of $5.48, which is 2.0% below its 52-week high of $5.59 and 0.7% above its 52-week low of $5.44.
High expense ratio hinders performance. On total assets of $277.34 million, TSI maintains a high expense ratio compared to its Growth & Income peers of 1.02% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As TSI is a closed end fund, it has no front end or back end load.
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