- ISIN
- US7043292348
- CUSIP
- 704329234
- Issuer
- Paydenfunds
- Inception Date
- Nov 10, 2013
- Category
- Emerging Markets Bonds
- Min. Investment
- $5,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PYCEX Performance Chart
Payden Emerging Markets Corporate Bond Fund (PYCEX) is up 2.2% since the beginning of the year. PYCEX is currently trading at $9 per share. Investors who bought $1,000 worth of PYCEX shares 5 years ago would now be looking at an investment worth $1,135.
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Returns By Period
Payden Emerging Markets Corporate Bond Fund (PYCEX) has returned 2.22% so far this year and 7.48% over the past 12 months. Over the last ten years, PYCEX has returned 4.16% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Payden Emerging Markets Corporate Bond Fund
- 1D
- 0.00%
- 1M
- 0.85%
- YTD
- 2.22%
- 6M
- 2.45%
- 1Y
- 7.48%
- 3Y*
- 7.79%
- 5Y*
- 2.56%
- 10Y*
- 4.16%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PYCEX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2014, PYCEX's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2022 with a return of +6.3%, while the worst month was Mar 2020 at -12.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PYCEX closed higher 43% of trading days. The best single day was Mar 26, 2020 with a return of +1.8%, while the worst single day was Mar 18, 2020 at -3.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.97% | 0.60% | -2.08% | 2.02% | 0.51% | 0.23% | 2.22% | ||||||
| 2025 | 0.98% | 1.40% | -0.19% | -0.64% | 0.41% | 1.42% | 0.77% | 1.37% | 1.01% | 0.34% | 0.05% | 0.79% | 7.96% |
| 2024 | 0.40% | 0.60% | 1.23% | -0.89% | 1.35% | 0.86% | 1.40% | 1.81% | 1.44% | -0.74% | 0.78% | -0.56% | 7.90% |
| 2023 | 2.72% | -2.15% | 0.27% | 0.67% | -0.34% | 0.73% | 0.96% | -0.09% | -0.85% | -1.05% | 3.56% | 2.86% | 7.37% |
| 2022 | -1.85% | -3.12% | -1.64% | -2.55% | -1.30% | -4.56% | 1.79% | 0.42% | -4.66% | -1.81% | 6.29% | 1.89% | -11.02% |
| 2021 | -0.01% | -0.08% | -0.74% | 0.78% | 0.64% | 0.64% | -0.18% | 1.05% | -0.46% | -0.73% | -0.88% | 0.81% | 0.80% |
Benchmark Metrics
Payden Emerging Markets Corporate Bond Fund has an annualized alpha of 3.53%, beta of 0.05, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since January 02, 2014.
- This fund participated in 28.06% of S&P 500 Index downside but only 25.51% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.08 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.08 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.53%
- Beta
- 0.05
- R²
- 0.08
- Upside Capture
- 25.51%
- Downside Capture
- 28.06%
Expense Ratio
PYCEX has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PYCEX ranks 89 for risk / return — in the top 89% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Payden Emerging Markets Corporate Bond Fund (PYCEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PYCEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.97 | 1.37 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 2.78 | +0.39 |
| Martin ratioReturn relative to average drawdown | 13.82 | 12.44 | +1.38 |
Dividends
Dividend History
Payden Emerging Markets Corporate Bond Fund provided a 6.32% dividend yield over the last twelve months, with an annual payout of $0.56 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.56 | $0.57 | $0.54 | $0.48 | $0.42 | $0.52 | $0.42 | $0.48 | $0.49 | $0.50 | $0.41 | $0.42 |
Dividend yield | 6.32% | 6.50% | 6.21% | 5.59% | 4.92% | 5.23% | 4.00% | 4.81% | 5.13% | 4.84% | 4.18% | 4.51% |
Monthly Dividends
The table displays the monthly dividend distributions for Payden Emerging Markets Corporate 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.00 | $0.22 | ||||||
| 2025 | $0.05 | $0.04 | $0.06 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.57 |
| 2024 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.04 | $0.54 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
| 2022 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.42 |
| 2021 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.14 | $0.52 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Payden Emerging Markets Corporate 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 Emerging Markets Corporate Bond Fund was 20.12%, occurring on Oct 24, 2022. Recovery took 457 trading sessions.
The current Payden Emerging Markets Corporate Bond Fund drawdown is 0.23%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -20.12%Oct 2022 | 1y 1mo | 1y 10mo | 2y 11moSep 2021 - Aug 2024 |
COVID crash2020 | -17.45%Mar 2020 | 29d | 5mo 12d | 6mo 11dFeb 2020 - Sep 2020 |
2016 pullback2016 | -5.81%Jan 2016 | 7mo 28d | 2mo 29d | 10mo 27dMay 2015 - Apr 2016 |
Rate-hike selloffLate 2018 | -4.50%Nov 2018 | 10mo 2d | 3mo 18d | 1y 1moJan 2018 - Mar 2019 |
2014 pullback2014 | -4.26%Dec 2014 | 3mo 15d | 3mo 28d | 7mo 13dSep 2014 - Apr 2015 |
Drawdown Indicators
| PYCEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.12% | -56.78% | +36.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.37% | -9.10% | +6.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.15% | -18.90% | +15.75% |
Max Drawdown (5Y)Largest decline over 5 years | -20.12% | -25.43% | +5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -20.12% | -33.92% | +13.80% |
Current DrawdownCurrent decline from peak | -0.23% | -1.80% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -10.71% | +7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 2.03% | -1.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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