- ISIN
- US7043292264
- CUSIP
- 704329226
- Issuer
- Paydenfunds
- Inception Date
- Nov 10, 2013
- Category
- Bank Loan
- Min. Investment
- $5,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PYFRX Performance Chart
Payden Floating Rate Fund (PYFRX) is up 1.6% since the beginning of the year. PYFRX is currently trading at $10 per share. Investors who bought $1,000 worth of PYFRX shares 5 years ago would now be looking at an investment worth $1,353.
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Returns By Period
Payden Floating Rate Fund (PYFRX) has returned 1.62% so far this year and 6.22% over the past 12 months. Over the last ten years, PYFRX has returned 5.05% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Payden Floating Rate Fund
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.62%
- 6M
- 1.80%
- 1Y
- 6.22%
- 3Y*
- 8.13%
- 5Y*
- 6.23%
- 10Y*
- 5.05%
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%
PYFRX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2014, PYFRX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.
Historically, 75% of months were positive and 25% were negative. The best month was Apr 2020 with a return of +3.3%, while the worst month was Mar 2020 at -10.3%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 4 months.
On a daily basis, PYFRX closed higher 33% of trading days. The best single day was Mar 26, 2020 with a return of +3.7%, while the worst single day was Mar 19, 2020 at -4.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.10% | -0.35% | 0.25% | 1.20% | 0.41% | 0.21% | 1.62% | ||||||
| 2025 | 0.89% | 0.05% | -0.28% | -0.69% | 1.61% | 1.02% | 0.93% | 0.63% | 0.68% | 0.21% | 0.69% | 0.69% | 6.61% |
| 2024 | 0.76% | 0.77% | 0.67% | 0.75% | 0.83% | 0.56% | 0.84% | 0.58% | 0.62% | 0.78% | 1.04% | 0.37% | 8.90% |
| 2023 | 2.49% | 0.56% | 0.21% | 0.83% | -0.23% | 2.22% | 1.13% | 1.15% | 0.81% | -0.13% | 1.59% | 1.57% | 12.86% |
| 2022 | 0.06% | -0.55% | 0.07% | 0.00% | -1.68% | -2.06% | 2.38% | 0.84% | -2.04% | 1.53% | 1.60% | 0.23% | 0.27% |
| 2021 | 0.99% | 0.25% | -0.02% | 0.50% | 0.52% | 0.27% | -0.20% | 0.44% | 0.48% | 0.20% | -0.34% | 0.78% | 3.93% |
Benchmark Metrics
Payden Floating Rate Fund has an annualized alpha of 3.68%, beta of 0.07, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since January 02, 2014.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.33%) than losses (9.05%) - typical of diversified or defensive assets.
- Beta of 0.07 may look defensive, but with R2 of 0.15 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 0.15 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
- 3.68%
- Beta
- 0.07
- R²
- 0.15
- Upside Capture
- 18.33%
- Downside Capture
- 9.05%
Expense Ratio
PYFRX has an expense ratio of 0.70%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PYFRX ranks 98 for risk / return — in the top 98% 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 Floating Rate Fund (PYFRX) 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.
| PYFRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.04 | ||
| Sortino ratioReturn per unit of downside risk | +6.27 | ||
| Omega ratioGain probability vs. loss probability | 2.80 | 1.37 | +1.44 |
| Calmar ratioReturn relative to maximum drawdown | 6.46 | 2.78 | +3.68 |
| Martin ratioReturn relative to average drawdown | 27.12 | 12.44 | +14.68 |
Dividends
Dividend History
Payden Floating Rate Fund provided a 7.04% dividend yield over the last twelve months, with an annual payout of $0.67 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.67 | $0.73 | $0.87 | $0.82 | $0.48 | $0.29 | $0.31 | $0.44 | $0.41 | $0.33 | $0.35 | $0.31 |
Dividend yield | 7.04% | 7.55% | 8.88% | 8.35% | 5.08% | 2.94% | 3.19% | 4.45% | 4.22% | 3.30% | 3.53% | 3.17% |
Monthly Dividends
The table displays the monthly dividend distributions for Payden Floating Rate 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 | $0.05 | $0.05 | $0.05 | $0.06 | $0.00 | $0.26 | ||||||
| 2025 | $0.06 | $0.05 | $0.08 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.73 |
| 2024 | $0.07 | $0.06 | $0.08 | $0.07 | $0.07 | $0.07 | $0.07 | $0.10 | $0.07 | $0.07 | $0.06 | $0.07 | $0.87 |
| 2023 | $0.05 | $0.07 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.08 | $0.07 | $0.06 | $0.82 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.48 |
| 2021 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.29 |
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 Floating Rate 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 Floating Rate Fund was 20.18%, occurring on Mar 24, 2020. Recovery took 178 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -20.18%Mar 2020 | 2mo 1d | 8mo 15d | 10mo 16dJan 2020 - Dec 2020 |
Bear market2022 | -4.80%Jul 2022 | 5mo 12d | 6mo 2d | 11mo 14dJan 2022 - Jan 2023 |
2016 pullback2016 | -3.09%Feb 2016 | 6mo 23d | 1mo 18d | 8mo 11dJul 2015 - Mar 2016 |
Rate-hike selloffLate 2018 | -2.71%Dec 2018 | 2mo 1d | 1mo 12d | 3mo 13dOct 2018 - Feb 2019 |
2025 selloff2025 | -2.66%Apr 2025 | 1mo 8d | 1mo 6d | 2mo 14dFeb 2025 - May 2025 |
Drawdown Indicators
| PYFRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.18% | -56.78% | +36.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.97% | -9.10% | +8.13% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -18.90% | +16.24% |
Max Drawdown (5Y)Largest decline over 5 years | -4.80% | -25.43% | +20.63% |
Max Drawdown (10Y)Largest decline over 10 years | -20.18% | -33.92% | +13.74% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -10.71% | +10.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 2.03% | -1.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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