Payden Emerging Markets Local Bond Fund (PYELX)

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Payden Emerging Markets Local Bond Fund (PYELX) is up 1.3% since the beginning of the year. PYELX is currently trading at $10 per share. Investors who bought $1,000 worth of PYELX shares 5 years ago would now be looking at an investment worth $2,247.

Payden Emerging Markets Local Bond Fund (PYELX) has returned 1.30% so far this year and 10.43% over the past 12 months. Over the last ten years, PYELX has returned 10.18% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 3, 2012, PYELX's average daily return is +0.03%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.

Historically, 57% of months were positive and 43% were negative. The best month was May 2025 with a return of +103.0%, while the worst month was Mar 2020 at -13.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.

On a daily basis, PYELX closed higher 46% of trading days. The best single day was May 12, 2025 with a return of +99.6%, while the worst single day was Mar 1, 2022 at -5.8%.

Payden Emerging Markets Local Bond Fund has an annualized alpha of 4.40%, beta of 0.30, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since January 03, 2012.

• This fund participated in 60.33% of S&P 500 Index downside but only 47.22% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.30 may look defensive, but with R2 of 0.03 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 0.03 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.

PYELX has an expense ratio of 0.09%, which is considered low.

PYELX ranks 29 for risk / return — below 29% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

Payden Emerging Markets Local Bond Fund provided a 7.18% dividend yield over the last twelve months, with an annual payout of $0.71 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Payden Emerging Markets Local Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Payden Emerging Markets Local 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 Local Bond Fund was 35.29%, occurring on Jan 20, 2016. Recovery took 2341 trading sessions.

The current Payden Emerging Markets Local Bond Fund drawdown is 2.49%.

The chart below shows the rolling one-month volatility.