DBLGX vs. PYGSX

Last updated Jun 4, 2026

DBLGX (DoubleLine Global Bond Fund) and PYGSX (Payden Global Low Duration Fund) are both Global Bonds funds. Over the past 10 years, DBLGX returned -0.75%/yr vs 2.45%/yr for PYGSX. A 0.51 correlation means they provide meaningful diversification when combined. DBLGX charges 0.65%/yr vs 0.53%/yr for PYGSX.

Performance

DBLGX vs. PYGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Global Bond Fund (DBLGX) and Payden Global Low Duration Fund (PYGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBLGX achieves a 0.60% return, which is significantly lower than PYGSX's 0.64% return. Over the past 10 years, DBLGX has underperformed PYGSX with an annualized return of -0.75%, while PYGSX has yielded a comparatively higher 2.45% annualized return.

DBLGX

• 1D: 0.23%
• 1M: 0.80%
• YTD: 0.60%
• 6M: 0.85%
• 1Y: 4.57%
• 3Y*: 3.40%
• 5Y*: -2.21%
• 10Y*: -0.75%

PYGSX

• 1D: 0.00%
• 1M: 0.18%
• YTD: 0.64%
• 6M: 0.96%
• 1Y: 4.05%
• 3Y*: 5.09%
• 5Y*: 2.59%
• 10Y*: 2.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBLGX vs. PYGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBLGX DoubleLine Global Bond Fund	0.60%	10.13%	-3.58%	4.36%	-16.16%	-7.79%	4.80%	4.00%	-2.10%	8.20%
PYGSX Payden Global Low Duration Fund	0.64%	5.72%	5.19%	5.61%	-3.38%	0.17%	3.14%	4.77%	0.58%	1.90%

Correlation

The correlation between DBLGX and PYGSX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.51

The correlation between DBLGX and PYGSX shifts across timeframes, from 0.51 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DBLGX vs. PYGSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBLGX

DBLGX Risk / Return Rank: 9
DBLGX Sharpe Ratio Rank: 9
DBLGX Sortino Ratio Rank: 9
DBLGX Omega Ratio Rank: 9
DBLGX Calmar Ratio Rank: 9
DBLGX Martin Ratio Rank: 9

PYGSX

PYGSX Risk / Return Rank: 80
PYGSX Sharpe Ratio Rank: 82
PYGSX Sortino Ratio Rank: 89
PYGSX Omega Ratio Rank: 89
PYGSX Calmar Ratio Rank: 72
PYGSX Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBLGX vs. PYGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Global Bond Fund (DBLGX) and Payden Global Low Duration Fund (PYGSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DBLGX	PYGSX	Difference
Sharpe ratio Return per unit of total volatility	0.76	2.66	-1.90
Sortino ratio Return per unit of downside risk	1.11	4.31	-3.20
Omega ratio Gain probability vs. loss probability	1.14	1.63	-0.49
Calmar ratio Return relative to maximum drawdown	0.89	3.32	-2.43
Martin ratio Return relative to average drawdown	2.71	13.07	-10.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBLGX vs. PYGSX - Sharpe Ratio Comparison

The current DBLGX Sharpe Ratio is 0.76, which is lower than the PYGSX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of DBLGX and PYGSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBLGX	PYGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	2.66	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	1.38	-1.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.13	1.41	-1.54
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	2.08	-2.10

Drawdowns

DBLGX vs. PYGSX - Drawdown Comparison

The maximum DBLGX drawdown since its inception was -27.45%, which is greater than PYGSX's maximum drawdown of -7.29%. Use the drawdown chart below to compare losses from any high point for DBLGX and PYGSX.

Drawdown Indicators

	DBLGX	PYGSX	Difference
Max Drawdown Largest peak-to-trough decline	-27.45%	-7.29%	-20.16%
Max Drawdown (1Y) Largest decline over 1 year	-4.76%	-1.23%	-3.53%
Max Drawdown (3Y) Largest decline over 3 years	-7.39%	-1.23%	-6.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.17%	-5.38%	-19.79%
Max Drawdown (10Y) Largest decline over 10 years	-27.45%	-7.29%	-20.16%
Current Drawdown Current decline from peak	-14.12%	-0.35%	-13.77%
Average Drawdown Average peak-to-trough decline	-9.99%	-0.49%	-9.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	0.31%	+1.25%

Volatility

DBLGX vs. PYGSX - Volatility Comparison

DoubleLine Global Bond Fund (DBLGX) has a higher volatility of 2.02% compared to Payden Global Low Duration Fund (PYGSX) at 0.48%. This indicates that DBLGX's price experiences larger fluctuations and is considered to be riskier than PYGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBLGX	PYGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	0.48%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	4.39%	1.11%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	5.60%	1.53%	+4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.51%	1.88%	+4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.74%	1.75%	+3.99%

DBLGX vs. PYGSX - Expense Ratio Comparison

DBLGX has a 0.65% expense ratio, which is higher than PYGSX's 0.53% expense ratio.

Dividends

DBLGX vs. PYGSX - Dividend Comparison

DBLGX's dividend yield for the trailing twelve months is around 3.32%, less than PYGSX's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLGX DoubleLine Global Bond Fund	3.32%	2.61%	1.04%	0.00%	0.00%	1.12%	1.58%	1.21%	1.16%	1.20%	0.52%	0.00%
PYGSX Payden Global Low Duration Fund	4.65%	4.63%	4.64%	3.84%	2.14%	1.68%	1.78%	2.74%	2.51%	1.68%	1.19%	1.20%

Frequently Asked Questions

Can I hold both DBLGX and PYGSX in my portfolio?

DBLGX and PYGSX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBLGX or PYGSX?

DBLGX has higher volatility (2.02%) compared to PYGSX (0.48%). In terms of maximum drawdown, DBLGX dropped -27.45% vs PYGSX's -7.29%.

Which has better risk-adjusted returns?

PYGSX currently has the higher Sharpe Ratio (2.66 vs 0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.