Payden High Income Fund (PYHRX)

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The chart shows the growth of an initial investment of $10,000 in Payden High Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Payden High Income Fund (PYHRX) has returned -0.50% so far this year and 7.33% over the past 12 months. Over the last ten years, PYHRX has returned 6.10% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 1998, PYHRX's average daily return is +0.03%, while the average monthly return is +0.47%. At this rate, your investment would double in approximately 12.3 years.

Historically, 68% of months were positive and 32% were negative. The best month was Oct 2011 with a return of +5.9%, 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 May 9, 2025 at -50.1%.

Payden High Income Fund has an annualized alpha of 6.53%, beta of 0.12, and R² of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 05, 1998.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (36.62%) than losses (30.83%) — 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 33 for risk / return — below 33% 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.

The table below present risk-adjusted performance metrics for Payden High Income Fund (PYHRX) and compare them to a chosen benchmark (S&P 500 Index).

Payden High Income Fund provided a 6.59% dividend yield over the last twelve months, with an annual payout of $0.83 per share.

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 50.79%, occurring on May 9, 2025. Recovery took 16 trading sessions.

The current Payden High Income Fund drawdown is 1.73%.

The chart below shows the rolling one-month volatility.