You should consider the fund’s investment objectives, risks, charges, and expenses carefully before investing. Click here to obtain a prospectus which contains this and other information on the fund. Please read the prospectus carefully before you invest. Consult the prospectus for more information.
Calculations include reinvestment of all distributions. Returns for periods less than one year are cumulative. Performance would have been lower if fees had not been waived in various periods. For MWSIX the total expense ratio is 1.34%. Expenses reflect a contractual agreement by the Advisor to reduce its fees and/or absorb expenses to limit the fund’s total annual operating expenses for the current fiscal year. The advisor voluntarily extended the agreement for the current fiscal year, and expects to renew the contractual expense limitation each year in May.
Bond Funds have the same interest rate, high yield and credit risks associated with the underlying bonds in the portfolio, all of which could reduce the Fund’s value. As interest rates rise, the value of the Fund can decline and an investor can lose principal.
The index listed is unmanaged, and is not available for direct investment. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees, or other expenses. The securities in the fund may differ substantially from those in the index.
1 Total return figures assume reinvestment of all distributions.
2 The Merrill Lynch 3-Month US Treasury Bill Index is an unmanaged index not available for direct investment. The Adviser has selected the Index plus 200 basis points (2%) as the appropriate benchmark for performance comparison purposes. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees or other expenses. The securities in the Fund may differ substantially from those in the index.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year Morningstar Rating metrics. As of 6/30/08 the Metropolitan West Strategic Income Fund I-Class was rated 1 star for the 3-year period against 381 U.S.-Domiciled Short-Term Bond Funds.
Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers as of 6/30/08. Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns, adjusted for volatility, relative to peers as of 6/30/08. Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class, as of 6/30/08. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Tax Efficiency (US) reflect funds’ historical success in postponing taxable distributions relative to peers as of 6/30/08. Tax Efficiency (US) offers no benefit to investors in tax-sheltered accounts such as retirement plans. Lipper ratings for Expense reflect funds’ expense minimization relative to peers with similar load structures as of 6/30/08. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency, and Expense metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. The Metropolitan West Strategic Income Fund I-Class, in Lipper’s Multi-Sector Income Funds classification, received the following rating for the 3-year period (number of funds rated follows the score in parentheses): Total Return: 1 (117 funds). Consistent Return: 1 (114 funds). Preservation (in Fixed Income asset class): 1 (4132 funds). Tax Efficiency: 1 (117 funds). Expense: 3 (36 funds). Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2008.
