NFIAX vs. PYFRX
NFIAX (Neuberger Berman Floating Rate Income Fund) and PYFRX (Payden Floating Rate Fund) are both Bank Loan funds. Over the past 10 years, NFIAX returned 4.51%/yr vs 5.02%/yr for PYFRX. A 0.54 correlation means they provide meaningful diversification when combined. NFIAX charges 0.97%/yr vs 0.70%/yr for PYFRX.
Performance
NFIAX vs. PYFRX - Performance Comparison
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Returns By Period
In the year-to-date period, NFIAX achieves a 1.37% return, which is significantly lower than PYFRX's 1.52% return. Over the past 10 years, NFIAX has underperformed PYFRX with an annualized return of 4.51%, while PYFRX has yielded a comparatively higher 5.02% annualized return.
NFIAX
- 1D
- 0.00%
- 1M
- 0.40%
- YTD
- 1.37%
- 6M
- 1.81%
- 1Y
- 5.28%
- 3Y*
- 7.85%
- 5Y*
- 5.02%
- 10Y*
- 4.51%
PYFRX
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.52%
- 6M
- 2.01%
- 1Y
- 6.44%
- 3Y*
- 8.51%
- 5Y*
- 6.25%
- 10Y*
- 5.02%
NFIAX vs. PYFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFIAX Neuberger Berman Floating Rate Income Fund | 1.37% | 5.83% | 8.89% | 10.92% | -3.26% | 4.27% | 3.63% | 8.31% | -1.13% | 3.19% |
PYFRX Payden Floating Rate Fund | 1.52% | 6.61% | 8.90% | 12.86% | 0.27% | 3.93% | 1.72% | 8.49% | 0.31% | 2.82% |
Correlation
The correlation between NFIAX and PYFRX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014 | 0.54 |
The correlation between NFIAX and PYFRX shifts across timeframes, from 0.41 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NFIAX vs. PYFRX — Risk / Return Rank
NFIAX
PYFRX
NFIAX vs. PYFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Floating Rate Income Fund (NFIAX) and Payden Floating Rate Fund (PYFRX). 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.
| NFIAX | PYFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 2.00 | 2.93 | -0.93 |
| Calmar ratioReturn relative to maximum drawdown | 4.97 | 6.69 | -1.72 |
| Martin ratioReturn relative to average drawdown | 17.07 | 28.09 | -11.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NFIAX | PYFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 5.26 | -2.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.88 | 3.23 | -1.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.13 | 1.39 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 1.39 | -0.14 |
Drawdowns
NFIAX vs. PYFRX - Drawdown Comparison
The maximum NFIAX drawdown since its inception was -22.18%, which is greater than PYFRX's maximum drawdown of -20.18%. Use the drawdown chart below to compare losses from any high point for NFIAX and PYFRX.
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Drawdown Indicators
| NFIAX | PYFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.18% | -20.18% | -2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -0.97% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -2.19% | -2.66% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -6.84% | -4.80% | -2.04% |
Max Drawdown (10Y)Largest decline over 10 years | -22.18% | -20.18% | -2.00% |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -0.59% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 0.23% | +0.08% |
Volatility
NFIAX vs. PYFRX - Volatility Comparison
Neuberger Berman Floating Rate Income Fund (NFIAX) has a higher volatility of 0.59% compared to Payden Floating Rate Fund (PYFRX) at 0.32%. This indicates that NFIAX's price experiences larger fluctuations and is considered to be riskier than PYFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFIAX | PYFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.32% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 1.02% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.19% | 1.23% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.69% | 1.95% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 3.62% | +0.40% |
NFIAX vs. PYFRX - Expense Ratio Comparison
NFIAX has a 0.97% expense ratio, which is higher than PYFRX's 0.70% expense ratio.
Dividends
NFIAX vs. PYFRX - Dividend Comparison
NFIAX's dividend yield for the trailing twelve months is around 6.59%, less than PYFRX's 7.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFIAX Neuberger Berman Floating Rate Income Fund | 6.59% | 6.84% | 8.05% | 6.89% | 3.97% | 3.36% | 3.68% | 4.71% | 4.32% | 3.44% | 3.46% | 4.05% |
PYFRX Payden Floating Rate Fund | 7.04% | 7.55% | 8.88% | 8.35% | 5.08% | 2.94% | 3.19% | 4.45% | 4.22% | 3.30% | 3.53% | 3.17% |
Frequently Asked Questions
NFIAX and PYFRX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFIAX has higher volatility (0.59%) compared to PYFRX (0.32%). In terms of maximum drawdown, NFIAX dropped -22.18% vs PYFRX's -20.18%.
PYFRX currently has the higher Sharpe Ratio (5.26 vs 2.44), 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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