The Lake of Texcoco is a closed basin with soils that confer salinity, conductivity, and alkalinity to it. It has undergone a reduction in size, incorporation of wastewater, and short-term desiccation, and includes temporary wetlands interconnected during the rainy season, some of which receive treated wastewater. Sediments contain metals, thus affecting water quality. Five artificial lakes were studied, and 12 metals (As, Ba, Cd, Cu, Cr, Fe, Mg, Mn, Hg, Ni, Pb, and Zn) were monitored bimonthly in water and sediments from June 2015 to March 2018. The Metal Pollution Index (MPI) and the Distribution Coefficient (Kd) were computed. Fe and Cd were the most and least stable metals in sediments, respectively (mean Log(Kd) = 4.24 and 2.079). Based on Log(K_d), metals were ranked as Fe > Mn > Zn > Cu > Mg > Cr > Ni > Ba > Pb > Hg > As > Cd. Log(K_d) values < 3 and > 5 indicate that metals occur mainly in water and sediments, respectively. The Mean Distribution Coefficient Log(K_{d MPI}) is a novel index proposed to assess ecological risk from metals in a water body. This index allows determining the phase (liquid or solid) where metals predominate, negatively affecting either free-swimming or benthic organisms. Log(K_{d MPI}) values indicated that metals occur primarily in the liquid phase in all lakes studied.