
See exactly how MUSE's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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The MUSE ETF is an actively managed fund that strategically invests in a broad array of high-yield fixed income instruments, without restriction on their maturity. It offers exposure across diverse fixed income categories, including bank loans, international securities denominated in various currencies, US government and corporate debt, and Treasury Inflation-Protected Securities (TIPS). Up to 20% of its assets may be channeled into securitized products such as residential and commercial mortgage-backed securities, asset-backed securities (ABS), and collateralized loan obligations (CLOs)…

Active fixed income ETFs gathered an impressive 38% of the $173 billion of net inflows in the 12 months ended January 2026. TCW's recent expansion serves as a strong case study in how a legacy bond powerhouse can benefit as ETFs gain market share.

Jennifer Grancio, TCW global head of ETFs, joins 'Squawk on the Street' to discuss ETF activity, market competition, and much more.