PortfoliosLab logo
PortfoliosLab logo
Tools
Portfolios
Screeners
Discussions
Payden Absolute Return Bond Fund (PYARX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Payden Absolute Return Bond Fund (PYARX)

Mutual Fund · Currency in USD · Last updated May 30, 2025

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

ISIN

US70432T1079

CUSIP

70432T107

Issuer

Paydenfunds

Inception Date

Nov 5, 2014

Category

Nontraditional Bonds

Min. Investment

$5,000

Asset Class

Bond

Expense Ratio

PYARX has an expense ratio of 0.70%, placing it in the medium range.

Share Price Chart

Loading data...

Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Payden Absolute Return Bond Fund

Performance

Performance Chart

Loading data...

S&P 500

Returns By Period

Payden Absolute Return Bond Fund (PYARX) returned 1.38% year-to-date (YTD) and 5.09% over the past 12 months. Over the past 10 years, PYARX returned 2.95% annually, underperforming the S&P 500 benchmark at 10.85%.

PYARX

YTD

1.38%

1M

-0.32%

6M

2.11%

1Y

5.09%

3Y*

5.29%

5Y*

3.97%

10Y*

2.95%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

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.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.55%0.31%0.37%0.57%-0.42%1.38%
20241.04%0.70%0.64%0.49%0.84%0.47%0.85%0.37%0.59%0.30%0.41%0.62%7.55%
20232.34%-0.37%0.56%0.81%-0.42%-0.12%0.98%0.28%0.12%0.05%1.30%0.55%6.22%
2022-0.53%-1.38%-0.42%-0.30%-0.91%-1.32%1.14%0.37%-1.66%-0.23%1.97%0.56%-2.74%
20210.45%-0.04%0.02%0.45%0.34%0.05%0.08%0.17%0.12%-0.34%-0.53%0.35%1.13%
20200.93%0.30%-10.06%2.67%3.12%2.70%0.80%0.58%0.26%0.27%1.17%0.71%2.81%
20191.16%0.50%0.58%0.52%0.37%0.88%0.26%0.45%0.12%0.24%0.23%0.09%5.52%
20180.07%0.19%0.23%-0.05%0.16%-0.05%0.24%0.27%0.16%-0.04%-0.20%-0.04%0.95%
20170.39%0.39%0.20%0.20%0.70%0.09%0.30%0.49%0.18%0.19%0.00%0.21%3.40%
2016-0.03%-0.73%1.16%0.92%0.20%0.54%1.01%0.23%0.23%0.00%-0.37%0.60%3.81%
20150.32%0.52%-0.04%0.09%0.17%-0.11%0.17%0.08%-0.22%0.19%-0.04%-0.19%0.93%
2014-0.10%0.71%0.61%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 97, PYARX is among the top 3% 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.

The Risk-Adjusted Performance Rank of PYARX is 9797
Overall Rank
The Sharpe Ratio Rank of PYARX is 9797
Sharpe Ratio Rank
The Sortino Ratio Rank of PYARX is 9696
Sortino Ratio Rank
The Omega Ratio Rank of PYARX is 9797
Omega Ratio Rank
The Calmar Ratio Rank of PYARX is 9696
Calmar Ratio Rank
The Martin Ratio Rank of PYARX is 9898
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Payden Absolute Return Bond Fund Sharpe ratios as of May 30, 2025 (values are recalculated daily):

  • 1-Year: 3.05
  • 5-Year: 2.20
  • 10-Year: 1.12
  • All Time: 1.14

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Payden Absolute Return Bond Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

Loading data...

Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Payden Absolute Return Bond Fund provided a 6.30% dividend yield over the last twelve months, with an annual payout of $0.59 per share. The fund has been increasing its distributions for 3 consecutive years.

1.00%2.00%3.00%4.00%5.00%6.00%7.00%$0.00$0.10$0.20$0.30$0.40$0.50$0.6020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.59$0.63$0.49$0.34$0.23$0.25$0.32$0.33$0.25$0.25$0.21$0.09

Dividend yield

6.30%6.68%5.19%3.61%2.26%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.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.04$0.04$0.06$0.04$0.00$0.18
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$0.06$0.23
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.

Loading data...

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.

The current Payden Absolute Return Bond Fund drawdown is 0.42%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-15.7%Mar 6, 202013Mar 24, 2020161Nov 10, 2020174
-6.12%Sep 20, 2021276Oct 21, 2022126Apr 25, 2023402
-1.6%Sep 10, 2015108Feb 12, 201635Apr 5, 2016143
-1.49%May 5, 202342Jul 6, 202322Aug 7, 202364
-1.27%Apr 4, 20256Apr 11, 20259Apr 25, 202515
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading data...