Description
The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in high yield bonds (commonly called “junk bonds”) which are rated below investment grade or are unrated and determined by the Adviser to be of similar quality. The remainder of the Fund’s net assets may be invested in investment grade securities rated by one of the nationally recognized statistical rating organizations or, if unrated, of comparable quality in the opinion of the Adviser.

Under normal conditions, the portfolio duration is two to eight years and the dollar-weighted average maturity ranges from two to fifteen years. The Fund invests in the U.S. and abroad, including emerging markets, and may purchase securities of varying maturities issued by domestic and foreign corporations and governments. The Adviser will focus- the Fund’s portfolio holdings in areas of the bond market that the Adviser believes to be relatively undervalued.

Investments include various types of bonds and other securities, typically corporate bonds, mezzanine investments, collateralized bond obligations, collateralized debt obligations, collateralized loan obligations, swaps, credit default swaps, currency futures and options, bank loans, preferred stock, common stock, warrants, asset-backed securities, mortgage-backed securities, foreign securities, U.S. Treasuries and agency securities, cash and cash equivalents, private placements, defaulted debt securities and restricted securities. These investments may have interest rates that are fixed, variable or floating.

Derivatives will be used in an effort to hedge investments, for risk management, or to increase income or gains for the Fund. The Fund may also seek to obtain market exposure to the securities in which it invests by entering into a series of purchase and sale contracts or by using other investment techniques such as reverse repurchase agreements.

Management Team

All of MetWest's mutual funds and investment strategies are team-managed with a generalist/specialist structure. The High Yield Bond Fund team has four managers:

Laird Landmann Joined MetWest: 1996 Education: Dartmouth (B.A.), University of Chicago (M.B.A.)	Steve Kane, CFA Joined MetWest: 1996 Education: UC, Berkeley (B.S.), University of Chicago (M.B.A.)

Jamie Farnham Joined MetWest: 2002 Education: Princeton (B.A.), UCLA (M.B.A.)	Gino Nucci, CFA Joined MetWest: 2004 Education: Yale (B.A.), UCLA (M.B.A)

LEGAL DISCLOSURES

A Word About Risk
Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and price volatility risk. Funds investing in bonds can lose their value as interest rates rise and an investor can lose principal.

Obtain a Prospectus
You should consider the investment objectives, risks, charges, and expenses of the Fund 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 or send money.

The MetWest Funds are distributed by BNY Mellon Distributors Inc. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc.