PYCBX vs. PYGNX
PYCBX (Payden Core Bond Fund) and PYGNX (Payden GNMA Fund) are both mutual funds - PYCBX is a Intermediate Core-Plus Bond fund managed by Paydenfunds, while PYGNX is a Government Bonds fund managed by Paydenfunds. Over the past 10 years, PYCBX returned 1.79%/yr vs 0.57%/yr for PYGNX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PYCBX charges 0.53%/yr vs 0.45%/yr for PYGNX.
Performance
PYCBX vs. PYGNX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PYCBX achieves a -0.73% return, which is significantly lower than PYGNX's -0.65% return. Over the past 10 years, PYCBX has outperformed PYGNX with an annualized return of 1.79%, while PYGNX has yielded a comparatively lower 0.57% annualized return.
PYCBX
- 1D
- -0.33%
- 1M
- -1.22%
- 6M
- -0.94%
- YTD
- -0.73%
- 1Y
- 2.13%
- 3Y*
- 4.58%
- 5Y*
- 0.00%
- 10Y*
- 1.79%
- ALL TIME*
- 4.03%
PYGNX
- 1D
- -0.53%
- 1M
- -1.69%
- 6M
- -1.09%
- YTD
- -0.65%
- 1Y
- 2.41%
- 3Y*
- 3.57%
- 5Y*
- -0.62%
- 10Y*
- 0.57%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
PYGNX Payden GNMA Fund | $0.00 | $0.00 | $0.00 |
PYCBX vs. PYGNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYCBX Payden Core Bond Fund | -0.73% | 7.69% | 2.55% | 6.57% | -13.55% | -1.00% | 6.93% | 9.27% | -1.26% | 5.25% |
PYGNX Payden GNMA Fund | -0.65% | 7.54% | 0.84% | 3.93% | -12.54% | -2.26% | 4.27% | 5.67% | 0.37% | 1.33% |
Correlation
The correlation between PYCBX and PYGNX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 1999 | 0.79 |
The correlation between PYCBX and PYGNX shifts across timeframes, from 0.79 (all time) to 0.93 (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
PYCBX vs. PYGNX — Risk / Return Rank
PYCBX
PYGNX
PYCBX vs. PYGNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Core Bond Fund (PYCBX) and Payden GNMA Fund (PYGNX). 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 | PYGNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 0.95 | +0.07 |
| Martin ratioReturn relative to average drawdown | 2.47 | 2.56 | -0.09 |
Loading charts...
Drawdowns
PYCBX vs. PYGNX - Drawdown Comparison
The maximum PYCBX drawdown since its inception was -18.59%, smaller than the maximum PYGNX drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for PYCBX and PYGNX.
Loading charts...
Drawdown Indicators
| PYCBX | PYGNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.59% | -19.64% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -3.40% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -7.00% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -18.59% | -18.66% | +0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -18.59% | -19.64% | +1.05% |
Current DrawdownCurrent decline from peak | -2.58% | -4.39% | +1.81% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -2.31% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.26% | -0.04% |
Volatility
PYCBX vs. PYGNX - Volatility Comparison
The current volatility for Payden Core Bond Fund (PYCBX) is 1.00%, while Payden GNMA Fund (PYGNX) has a volatility of 1.18%. This indicates that PYCBX experiences smaller price fluctuations and is considered to be less risky than PYGNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PYCBX | PYGNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.18% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 3.46% | -0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 4.25% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 6.45% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.71% | 4.90% | -0.19% |
PYCBX vs. PYGNX - Expense Ratio Comparison
PYCBX has a 0.53% expense ratio, which is higher than PYGNX's 0.45% expense ratio.
Dividends
PYCBX vs. PYGNX - Dividend Comparison
PYCBX's dividend yield for the trailing twelve months is around 4.64%, more than PYGNX's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYCBX Payden Core Bond Fund | 4.64% | 4.78% | 4.63% | 3.76% | 3.21% | 2.39% | 3.96% | 3.04% | 3.27% | 3.13% | 3.85% | 2.84% |
PYGNX Payden GNMA Fund | 3.66% | 3.80% | 3.63% | 2.64% | 3.70% | 2.74% | 2.80% | 3.34% | 3.26% | 3.24% | 3.07% | 3.59% |
Frequently Asked Questions
PYCBX and PYGNX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYGNX has higher volatility (1.18%) compared to PYCBX (1.00%). In terms of maximum drawdown, PYCBX dropped -18.59% vs PYGNX's -19.64%.
PYCBX currently has the higher Sharpe Ratio (0.81 vs 0.76), 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 PYCBX and PYGNX
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