Payden High Income Fund (PYHRX)

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Payden High Income Fund (PYHRX) is up 2.4% since the beginning of the year. PYHRX is currently trading at $13 per share. Investors who bought $1,000 worth of PYHRX shares 5 years ago would now be looking at an investment worth $2,549.

Payden High Income Fund (PYHRX) has returned 2.44% so far this year and 8.16% over the past 12 months. Over the last ten years, PYHRX has had an annualized return of 13.74%, just under the S&P 500 Index benchmark’s 13.88%.

Based on dividend-adjusted daily data since Jan 2, 1998, PYHRX's average daily return is +0.04%, while the average monthly return is +0.78%. At this rate, an investment would double in approximately 7.4 years.

Historically, 69% of months were positive and 31% were negative. The best month was May 2025 with a return of +103.2%, while the worst month was Oct 2008 at -14.0%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PYHRX closed higher 42% of trading days. The best single day was May 12, 2025 with a return of +101.8%, while the worst single day was Oct 10, 2008 at -4.0%.

Payden High Income Fund has an annualized alpha of 8.40%, beta of 0.12, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 02, 1998.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (45.67%) than losses (30.73%) - typical of diversified or defensive assets.
• Beta of 0.12 may look defensive, but with R2 of 0.01 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 0.01 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.

PYHRX has an expense ratio of 0.60%, placing it in the medium range.

PYHRX ranks 95 for risk / return — in the top 95% 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.

Payden High Income Fund provided a 6.42% dividend yield over the last twelve months, with an annual payout of $0.82 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Payden High Income 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 High Income 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 High Income Fund was 27.80%, occurring on Dec 12, 2008. Recovery took 232 trading sessions.

The current Payden High Income Fund drawdown is 0.23%.

The chart below shows the rolling one-month volatility.