PYACX vs. PYGFX
PYACX (Payden Corporate Bond Fund) and PYGFX (Payden Global Fixed Income Fund) are both mutual funds - PYACX is a Corporate Bonds fund managed by Paydenfunds, while PYGFX is a Global Bonds fund managed by Paydenfunds. Over the past 10 years, PYACX returned 2.89%/yr vs 2.00%/yr for PYGFX. A 0.76 correlation means they provide meaningful diversification when combined. PYACX charges 0.65%/yr vs 0.70%/yr for PYGFX.
Performance
PYACX vs. PYGFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PYACX achieves a 0.37% return, which is significantly lower than PYGFX's 0.54% return. Over the past 10 years, PYACX has outperformed PYGFX with an annualized return of 2.89%, while PYGFX has yielded a comparatively lower 2.00% annualized return.
PYACX
- 1D
- -0.31%
- 1M
- 0.71%
- YTD
- 0.37%
- 6M
- 0.46%
- 1Y
- 4.75%
- 3Y*
- 5.38%
- 5Y*
- 0.37%
- 10Y*
- 2.89%
PYGFX
- 1D
- -0.26%
- 1M
- 0.89%
- YTD
- 0.54%
- 6M
- 0.77%
- 1Y
- 3.44%
- 3Y*
- 4.63%
- 5Y*
- 0.68%
- 10Y*
- 2.00%
PYACX vs. PYGFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYACX Payden Corporate Bond Fund | 0.37% | 7.39% | 3.17% | 8.53% | -16.33% | -0.08% | 8.64% | 14.46% | -3.05% | 8.53% |
PYGFX Payden Global Fixed Income Fund | 0.54% | 5.20% | 3.90% | 7.34% | -12.37% | -0.89% | 5.92% | 8.61% | -0.26% | 4.11% |
Correlation
The correlation between PYACX and PYGFX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.76 |
The correlation between PYACX and PYGFX shifts across timeframes, from 0.76 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PYACX vs. PYGFX — Risk / Return Rank
PYACX
PYGFX
PYACX vs. PYGFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Corporate Bond Fund (PYACX) and Payden Global Fixed Income Fund (PYGFX). 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.
| PYACX | PYGFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.16 | +0.40 |
| Martin ratioReturn relative to average drawdown | 4.66 | 3.43 | +1.23 |
Loading charts...
Drawdowns
PYACX vs. PYGFX - Drawdown Comparison
The maximum PYACX drawdown since its inception was -22.90%, which is greater than PYGFX's maximum drawdown of -15.94%. Use the drawdown chart below to compare losses from any high point for PYACX and PYGFX.
Loading charts...
Drawdown Indicators
| PYACX | PYGFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.90% | -15.94% | -6.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -3.20% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.43% | -4.25% | -2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -15.94% | -6.96% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -15.94% | -6.96% |
Current DrawdownCurrent decline from peak | -1.48% | -1.34% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -2.07% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 1.08% | -0.01% |
Volatility
PYACX vs. PYGFX - Volatility Comparison
Payden Corporate Bond Fund (PYACX) has a higher volatility of 1.10% compared to Payden Global Fixed Income Fund (PYGFX) at 1.04%. This indicates that PYACX's price experiences larger fluctuations and is considered to be riskier than PYGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PYACX | PYGFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.04% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 2.62% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 3.11% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.65% | 4.34% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.88% | 3.67% | +2.21% |
PYACX vs. PYGFX - Expense Ratio Comparison
PYACX has a 0.65% expense ratio, which is lower than PYGFX's 0.70% expense ratio.
Dividends
PYACX vs. PYGFX - Dividend Comparison
PYACX's dividend yield for the trailing twelve months is around 4.60%, more than PYGFX's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYACX Payden Corporate Bond Fund | 4.60% | 4.54% | 4.59% | 3.89% | 3.35% | 5.32% | 3.87% | 3.37% | 3.65% | 3.92% | 5.49% | 4.36% |
PYGFX Payden Global Fixed Income Fund | 4.07% | 3.88% | 3.69% | 2.71% | 8.25% | 3.18% | 2.69% | 3.07% | 5.39% | 1.91% | 1.48% | 3.00% |
Frequently Asked Questions
PYACX and PYGFX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYACX has higher volatility (1.10%) compared to PYGFX (1.04%). In terms of maximum drawdown, PYACX dropped -22.90% vs PYGFX's -15.94%.
PYGFX currently has the higher Sharpe Ratio (1.20 vs 1.18), 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.
Find the right allocation for PYACX and PYGFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer