PLFLX vs. PYFRX

Last updated Jun 23, 2026

PLFLX (Aristotle Floating Rate Income Fund Class A) and PYFRX (Payden Floating Rate Fund) are both Bank Loan funds. Over the past 10 years, PLFLX returned 4.78%/yr vs 5.05%/yr for PYFRX. A 0.52 correlation means they provide meaningful diversification when combined. PLFLX charges 1.05%/yr vs 0.70%/yr for PYFRX.

Performance

PLFLX vs. PYFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aristotle Floating Rate Income Fund Class A (PLFLX) and Payden Floating Rate Fund (PYFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLFLX achieves a 0.85% return, which is significantly lower than PYFRX's 1.62% return. Over the past 10 years, PLFLX has underperformed PYFRX with an annualized return of 4.78%, while PYFRX has yielded a comparatively higher 5.05% annualized return.

PLFLX

• 1D: 0.00%
• 1M: 0.09%
• YTD: 0.85%
• 6M: 1.55%
• 1Y: 5.46%
• 3Y*: 7.64%
• 5Y*: 5.52%
• 10Y*: 4.78%

PYFRX

• 1D: 0.00%
• 1M: 0.41%
• YTD: 1.62%
• 6M: 1.80%
• 1Y: 6.22%
• 3Y*: 8.13%
• 5Y*: 6.23%
• 10Y*: 5.05%

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

PLFLX vs. PYFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLFLX Aristotle Floating Rate Income Fund Class A	0.85%	6.33%	8.03%	13.70%	-2.35%	4.16%	0.95%	7.91%	0.14%	4.02%
PYFRX Payden Floating Rate Fund	1.62%	6.61%	8.90%	12.86%	0.27%	3.93%	1.72%	8.49%	0.31%	2.82%

Correlation

The correlation between PLFLX and PYFRX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.52

The correlation between PLFLX and PYFRX shifts across timeframes, from 0.43 (3 years) to 0.56 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PLFLX vs. PYFRX — Risk / Return Rank

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

PLFLX

PLFLX Risk / Return Rank: 78
PLFLX Sharpe Ratio Rank: 65
PLFLX Sortino Ratio Rank: 96
PLFLX Omega Ratio Rank: 96
PLFLX Calmar Ratio Rank: 74
PLFLX Martin Ratio Rank: 60

PYFRX

PYFRX Risk / Return Rank: 98
PYFRX Sharpe Ratio Rank: 99
PYFRX Sortino Ratio Rank: 99
PYFRX Omega Ratio Rank: 99
PYFRX Calmar Ratio Rank: 97
PYFRX Martin Ratio Rank: 98

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.

PLFLX vs. PYFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aristotle Floating Rate Income Fund Class A (PLFLX) 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.

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.

	PLFLX	PYFRX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	5.06	-2.89
Sortino ratio: Return per unit of downside risk	5.11	9.02	-3.91
Omega ratio: Gain probability vs. loss probability	1.82	2.80	-0.99
Calmar ratio: Return relative to maximum drawdown	3.19	6.46	-3.27
Martin ratio: Return relative to average drawdown	11.21	27.12	-15.91

PLFLX vs. PYFRX - Sharpe Ratio Comparison

The current PLFLX Sharpe Ratio is 2.17, which is lower than the PYFRX Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of PLFLX and PYFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PLFLX vs. PYFRX - Drawdown Comparison

The maximum PLFLX drawdown since its inception was -18.80%, smaller than the maximum PYFRX drawdown of -20.18%. Use the drawdown chart below to compare losses from any high point for PLFLX and PYFRX.

Drawdown Indicators

	PLFLX	PYFRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.80%	-20.18%	+1.38%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-0.97%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-2.09%	-2.66%	+0.57%
Max Drawdown (5Y) Largest decline over 5 years	-6.45%	-4.80%	-1.65%
Max Drawdown (10Y) Largest decline over 10 years	-18.80%	-20.18%	+1.38%
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.59%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.23%	+0.26%

Volatility

PLFLX vs. PYFRX - Volatility Comparison

Aristotle Floating Rate Income Fund Class A (PLFLX) has a higher volatility of 0.64% compared to Payden Floating Rate Fund (PYFRX) at 0.29%. This indicates that PLFLX'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.

Volatility by Period

	PLFLX	PYFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.29%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	1.94%	1.04%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	2.52%	1.24%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.79%	1.95%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.74%	3.62%	+0.12%

PLFLX vs. PYFRX - Expense Ratio Comparison

PLFLX has a 1.05% expense ratio, which is higher than PYFRX's 0.70% expense ratio.

Dividends

PLFLX vs. PYFRX - Dividend Comparison

PLFLX's dividend yield for the trailing twelve months is around 6.77%, less than PYFRX's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLFLX Aristotle Floating Rate Income Fund Class A	6.77%	6.86%	8.14%	8.61%	4.16%	3.35%	3.29%	4.94%	4.77%	4.16%	3.92%	4.21%
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

Can I hold both PLFLX and PYFRX in my portfolio?

PLFLX and PYFRX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLFLX or PYFRX?

PLFLX has higher volatility (0.64%) compared to PYFRX (0.29%). In terms of maximum drawdown, PLFLX dropped -18.80% vs PYFRX's -20.18%.

Which has better risk-adjusted returns?

PYFRX currently has the higher Sharpe Ratio (5.06 vs 2.17), 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.