PYCBX vs. NPCT
PYCBX (Payden Core Bond Fund) and NPCT (Nuveen Core Plus Impact Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PYCBX returned 0.18%/yr vs -3.31%/yr for NPCT. At a 0.48 correlation, their price movements are largely independent. PYCBX charges 0.53%/yr vs 5.08%/yr for NPCT.
Performance
PYCBX vs. NPCT - Performance Comparison
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Returns By Period
In the year-to-date period, PYCBX achieves a -0.27% return, which is significantly lower than NPCT's 3.56% return.
PYCBX
- 1D
- -0.33%
- 1M
- -0.66%
- 6M
- -0.49%
- YTD
- -0.27%
- 1Y
- 3.99%
- 3Y*
- 4.43%
- 5Y*
- 0.18%
- 10Y*
- 1.85%
NPCT
- 1D
- 0.40%
- 1M
- 0.60%
- 6M
- 2.75%
- YTD
- 3.56%
- 1Y
- -0.08%
- 3Y*
- 11.53%
- 5Y*
- -3.31%
- 10Y*
- —
PYCBX vs. NPCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PYCBX Payden Core Bond Fund | -0.27% | 7.69% | 2.55% | 6.57% | -13.55% | 1.29% |
NPCT Nuveen Core Plus Impact Fund | 3.56% | 9.87% | 17.23% | 7.78% | -37.50% | -4.98% |
Correlation
The correlation between PYCBX and NPCT is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2021 | 0.48 |
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Return for Risk
PYCBX vs. NPCT — Risk / Return Rank
PYCBX
NPCT
PYCBX vs. NPCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Core Bond Fund (PYCBX) and Nuveen Core Plus Impact Fund (NPCT). 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.
| PYCBX | NPCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.01 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | -0.01 | +1.36 |
| Martin ratioReturn relative to average drawdown | 3.59 | -0.03 | +3.62 |
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Drawdowns
PYCBX vs. NPCT - Drawdown Comparison
The maximum PYCBX drawdown since its inception was -18.59%, smaller than the maximum NPCT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for PYCBX and NPCT.
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Drawdown Indicators
| PYCBX | NPCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.59% | -46.77% | +28.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -6.79% | +3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -6.23% | -12.59% | +6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.59% | -46.77% | +28.18% |
Max Drawdown (10Y)Largest decline over 10 years | -18.59% | — | — |
Current DrawdownCurrent decline from peak | -2.14% | -15.93% | +13.79% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -25.03% | +22.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 3.00% | -1.89% |
Volatility
PYCBX vs. NPCT - Volatility Comparison
The current volatility for Payden Core Bond Fund (PYCBX) is 1.17%, while Nuveen Core Plus Impact Fund (NPCT) has a volatility of 2.37%. This indicates that PYCBX experiences smaller price fluctuations and is considered to be less risky than NPCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYCBX | NPCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 2.37% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 7.48% | -4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 9.78% | -6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 13.10% | -7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 12.99% | -8.28% |
PYCBX vs. NPCT - Expense Ratio Comparison
PYCBX has a 0.53% expense ratio, which is lower than NPCT's 5.08% expense ratio.
Dividends
PYCBX vs. NPCT - Dividend Comparison
PYCBX's dividend yield for the trailing twelve months is around 4.55%, less than NPCT's 12.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NPCT Nuveen Core Plus Impact Fund | 12.26% | 13.15% | 12.20% | 10.28% | 11.93% | 3.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PYCBX Payden Core Bond Fund | 4.55% | 4.78% | 4.63% | 3.76% | 3.21% | 2.39% | 3.96% | 3.04% | 3.27% | 3.13% | 3.85% | 2.84% |
Frequently Asked Questions
PYCBX and NPCT have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NPCT has higher volatility (2.37%) compared to PYCBX (1.17%). In terms of maximum drawdown, PYCBX dropped -18.59% vs NPCT's -46.77%.
PYCBX currently has the higher Sharpe Ratio (1.07 vs -0.01), 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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