Payden Low Duration Fund (PYSBX)

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Payden Low Duration Fund (PYSBX) is up 0.5% since the beginning of the year. PYSBX is currently trading at $10 per share. Investors who bought $1,000 worth of PYSBX shares 5 years ago would now be looking at an investment worth $1,125.

Payden Low Duration Fund (PYSBX) has returned 0.49% so far this year and 2.52% over the past 12 months. Over the last ten years, PYSBX has returned 2.21% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Jan 3, 1994, PYSBX'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, 73% of months were positive and 27% were negative. The best month was Jan 2000 with a return of +45.0%, while the worst month was Mar 2020 at -3.3%. The longest winning streak lasted 29 consecutive months, and the longest losing streak was 7 months.

On a daily basis, PYSBX closed higher 28% of trading days. The best single day was Jan 28, 2000 with a return of +44.7%, while the worst single day was Mar 19, 2020 at -1.1%.

Payden Low Duration Fund has an annualized alpha of 4.84%, beta of -0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 03, 1994.

• This fund captured 8.57% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -13.53%) - a profile typical of hedging or uncorrelated assets.
• Beta of -0.02 may look defensive, but with R2 of 0.00 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 0.00 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.

PYSBX has an expense ratio of 0.43%, placing it in the medium range.

PYSBX ranks 75 for risk / return — above 75% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.

Payden Low Duration Fund provided a 4.06% dividend yield over the last twelve months, with an annual payout of $0.39 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Payden Low Duration 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 Low Duration 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 Low Duration Fund was 6.65%, occurring on Mar 24, 2020. Recovery took 68 trading sessions.

The current Payden Low Duration Fund drawdown is 0.41%.

The chart below shows the rolling one-month volatility.