Payden Absolute Return Bond Fund (PYARX)
Under normal market conditions, the fund will invest at least 80% of its investable assets (net assets plus borrowing for investment purposes, if any) in bonds or investments that provide exposure to bonds. The fund's absolute return strategy seeks to have positive absolute returns over the long term, regardless of different market environments. To achieve this goal, the fund seeks to provide total return, whether through price appreciation, or income, or a combination of both.
Fund Info
US70432T1079
70432T107
Nov 5, 2014
$5,000
Expense Ratio
PYARX features an expense ratio of 0.70%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Payden Absolute Return Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Payden Absolute Return Bond Fund had a return of 0.67% year-to-date (YTD) and 6.59% in the last 12 months. Over the past 10 years, Payden Absolute Return Bond Fund had an annualized return of 2.90%, while the S&P 500 had an annualized return of 11.31%, indicating that Payden Absolute Return Bond Fund did not perform as well as the benchmark.
PYARX
0.67%
0.45%
2.99%
6.59%
2.78%
2.90%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of PYARX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.56% | 0.67% | |||||||||||
| 2024 | 1.04% | 0.70% | 0.64% | 0.48% | 0.84% | 0.46% | 0.85% | 0.38% | 0.59% | 0.29% | 0.41% | 0.61% | 7.55% |
| 2023 | 2.34% | -0.37% | 0.56% | 0.80% | -0.42% | -0.12% | 0.97% | 0.28% | 0.13% | 0.05% | 1.30% | 0.56% | 6.22% |
| 2022 | -0.53% | -1.38% | -0.41% | -0.30% | -0.91% | -1.32% | 1.15% | 0.37% | -1.67% | -0.23% | 1.97% | 0.56% | -2.72% |
| 2021 | 0.46% | -0.04% | 0.02% | 0.46% | 0.35% | 0.05% | 0.08% | 0.17% | 0.12% | -0.34% | -0.53% | -0.00% | 0.79% |
| 2020 | 0.94% | 0.30% | -10.06% | 2.67% | 3.12% | 2.70% | 0.81% | 0.58% | 0.25% | 0.27% | 1.17% | 0.71% | 2.82% |
| 2019 | 1.16% | 0.49% | 0.57% | 0.51% | 0.37% | 0.88% | 0.26% | 0.45% | 0.12% | 0.24% | 0.23% | 0.09% | 5.51% |
| 2018 | 0.07% | 0.19% | 0.23% | -0.05% | 0.16% | -0.05% | 0.24% | 0.27% | 0.16% | -0.04% | -0.20% | -0.04% | 0.94% |
| 2017 | 0.39% | 0.39% | 0.20% | 0.20% | 0.70% | 0.09% | 0.30% | 0.49% | 0.18% | 0.19% | 0.00% | 0.21% | 3.38% |
| 2016 | -0.03% | -0.73% | 1.16% | 0.92% | 0.20% | 0.54% | 1.01% | 0.23% | 0.23% | 0.01% | -0.37% | 0.60% | 3.81% |
| 2015 | 0.32% | 0.52% | -0.04% | 0.09% | 0.17% | -0.12% | 0.17% | 0.08% | -0.21% | 0.19% | -0.04% | -0.19% | 0.94% |
| 2014 | -0.10% | 0.71% | 0.61% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 99, PYARX is among the top 1% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Payden Absolute Return Bond Fund (PYARX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Payden Absolute Return Bond Fund provided a 6.72% dividend yield over the last twelve months, with an annual payout of $0.64 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.64 | $0.63 | $0.49 | $0.34 | $0.19 | $0.25 | $0.32 | $0.33 | $0.25 | $0.25 | $0.21 | $0.09 |
Dividend yield | 6.72% | 6.68% | 5.19% | 3.61% | 1.91% | 2.51% | 3.14% | 3.40% | 2.53% | 2.52% | 2.17% | 0.91% |
Monthly Dividends
The table displays the monthly dividend distributions for Payden Absolute Return Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.04 | $0.00 | $0.04 | ||||||||||
| 2024 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.10 | $0.05 | $0.05 | $0.08 | $0.05 | $0.63 |
| 2023 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.03 | $0.49 |
| 2022 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.34 |
| 2021 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.25 |
| 2019 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.04 | $0.32 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.33 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.25 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.03 | $0.25 |
| 2015 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.21 |
| 2014 | $0.09 | $0.09 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Payden Absolute Return Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Payden Absolute Return Bond Fund was 15.70%, occurring on Mar 24, 2020. Recovery took 161 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.7% | Mar 6, 2020 | 13 | Mar 24, 2020 | 161 | Nov 10, 2020 | 174 |
| -6.42% | Sep 20, 2021 | 276 | Oct 21, 2022 | 132 | May 3, 2023 | 408 |
| -1.6% | Sep 10, 2015 | 108 | Feb 12, 2016 | 35 | Apr 5, 2016 | 143 |
| -1.48% | May 5, 2023 | 42 | Jul 6, 2023 | 22 | Aug 7, 2023 | 64 |
| -0.8% | Nov 18, 2014 | 20 | Dec 16, 2014 | 9 | Dec 30, 2014 | 29 |
Volatility
Volatility Chart
The current Payden Absolute Return Bond Fund volatility is 0.42%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.