FLTR vs. PYLMX
FLTR (VanEck IG Floating Rate ETF) and PYLMX (Payden Limited Maturity Fund) are both funds - FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index, while PYLMX is a Ultrashort Bond fund managed by Paydenfunds. Over the past 10 years, FLTR returned 3.53%/yr vs 2.79%/yr for PYLMX. At a 0.03 correlation, their price movements are largely independent. FLTR charges 0.14%/yr vs 0.25%/yr for PYLMX.
Performance
FLTR vs. PYLMX - Performance Comparison
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Returns By Period
In the year-to-date period, FLTR achieves a 2.46% return, which is significantly higher than PYLMX's 1.65% return. Over the past 10 years, FLTR has outperformed PYLMX with an annualized return of 3.53%, while PYLMX has yielded a comparatively lower 2.79% annualized return.
FLTR
- 1D
- -0.08%
- 1M
- 0.42%
- 6M
- 2.38%
- YTD
- 2.46%
- 1Y
- 5.09%
- 3Y*
- 6.09%
- 5Y*
- 4.57%
- 10Y*
- 3.53%
PYLMX
- 1D
- 0.00%
- 1M
- 0.25%
- 6M
- 1.76%
- YTD
- 1.65%
- 1Y
- 4.37%
- 3Y*
- 5.15%
- 5Y*
- 3.74%
- 10Y*
- 2.79%
FLTR vs. PYLMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck IG Floating Rate ETF | 2.46% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 1.44% | 5.70% | 0.30% | 2.80% |
PYLMX Payden Limited Maturity Fund | 1.65% | 5.22% | 6.08% | 5.34% | 0.56% | 0.19% | 1.85% | 3.34% | 1.76% | 1.64% |
Correlation
The correlation between FLTR and PYLMX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2011 | 0.03 |
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Return for Risk
FLTR vs. PYLMX — Risk / Return Rank
FLTR
PYLMX
FLTR vs. PYLMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck IG Floating Rate ETF (FLTR) and Payden Limited Maturity Fund (PYLMX). 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.
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.
| FLTR | PYLMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.54 | ||
| Sortino ratioReturn per unit of downside risk | +4.03 | ||
| Omega ratioGain probability vs. loss probability | 2.95 | 2.41 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 16.28 | 8.39 | +7.89 |
| Martin ratioReturn relative to average drawdown | 95.11 | 36.28 | +58.83 |
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Drawdowns
FLTR vs. PYLMX - Drawdown Comparison
The maximum FLTR drawdown since its inception was -17.84%, which is greater than PYLMX's maximum drawdown of -5.56%. Use the drawdown chart below to compare losses from any high point for FLTR and PYLMX.
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Drawdown Indicators
| FLTR | PYLMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.84% | -5.56% | -12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -0.31% | -0.52% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -1.93% | -0.52% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -3.06% | -1.24% | -1.82% |
Max Drawdown (10Y)Largest decline over 10 years | -17.84% | -5.56% | -12.28% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -0.16% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.12% | -0.07% |
Volatility
FLTR vs. PYLMX - Volatility Comparison
The current volatility for VanEck IG Floating Rate ETF (FLTR) is 0.26%, while Payden Limited Maturity Fund (PYLMX) has a volatility of 0.42%. This indicates that FLTR experiences smaller price fluctuations and is considered to be less risky than PYLMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLTR | PYLMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.26% | 0.42% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 1.08% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 1.56% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.13% | 1.37% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 1.31% | +3.69% |
FLTR vs. PYLMX - Expense Ratio Comparison
FLTR has a 0.14% expense ratio, which is lower than PYLMX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FLTR vs. PYLMX - Dividend Comparison
FLTR's dividend yield for the trailing twelve months is around 4.64%, more than PYLMX's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck IG Floating Rate ETF | 4.64% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
PYLMX Payden Limited Maturity Fund | 4.49% | 4.96% | 5.36% | 3.79% | 1.83% | 0.50% | 1.39% | 2.54% | 2.28% | 1.42% | 0.91% | 0.73% |
Frequently Asked Questions
FLTR and PYLMX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYLMX has higher volatility (0.42%) compared to FLTR (0.26%). In terms of maximum drawdown, FLTR dropped -17.84% vs PYLMX's -5.56%.
FLTR currently has the higher Sharpe Ratio (6.36 vs 2.82), 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.
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