PYCEX vs. FNMIX
Compare and contrast key facts about Payden Emerging Markets Corporate Bond Fund (PYCEX) and Fidelity New Markets Income Fund (FNMIX).
PYCEX is managed by Paydenfunds. It was launched on Nov 10, 2013. FNMIX is managed by Fidelity.
Performance
PYCEX vs. FNMIX - Performance Comparison
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PYCEX vs. FNMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYCEX Payden Emerging Markets Corporate Bond Fund | -0.77% | 7.96% | 7.90% | 7.37% | -11.02% | 0.80% | 8.17% | 11.90% | -3.33% | 9.13% |
FNMIX Fidelity New Markets Income Fund | -1.02% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
Returns By Period
In the year-to-date period, PYCEX achieves a -0.77% return, which is significantly higher than FNMIX's -1.02% return. Over the past 10 years, PYCEX has outperformed FNMIX with an annualized return of 4.18%, while FNMIX has yielded a comparatively lower 3.90% annualized return.
PYCEX
- 1D
- 0.06%
- 1M
- -2.31%
- YTD
- -0.77%
- 6M
- 0.40%
- 1Y
- 4.82%
- 3Y*
- 7.19%
- 5Y*
- 2.34%
- 10Y*
- 4.18%
FNMIX
- 1D
- -0.15%
- 1M
- -3.77%
- YTD
- -1.02%
- 6M
- 2.67%
- 1Y
- 10.54%
- 3Y*
- 10.89%
- 5Y*
- 3.53%
- 10Y*
- 3.90%
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PYCEX vs. FNMIX - Expense Ratio Comparison
PYCEX has a 0.65% expense ratio, which is lower than FNMIX's 0.80% expense ratio.
Return for Risk
PYCEX vs. FNMIX — Risk / Return Rank
PYCEX
FNMIX
PYCEX vs. FNMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Emerging Markets Corporate Bond Fund (PYCEX) and Fidelity New Markets Income Fund (FNMIX). 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.
| PYCEX | FNMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.87 | 2.08 | -0.21 |
Sortino ratioReturn per unit of downside risk | 2.42 | 2.89 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.44 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.64 | 2.12 | -0.48 |
Martin ratioReturn relative to average drawdown | 6.88 | 9.40 | -2.52 |
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
| PYCEX | FNMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.08 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.54 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.18 | 0.56 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 0.79 | +0.39 |
Correlation
The correlation between PYCEX and FNMIX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PYCEX vs. FNMIX - Dividend Comparison
PYCEX's dividend yield for the trailing twelve months is around 6.44%, more than FNMIX's 4.66% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYCEX Payden Emerging Markets Corporate Bond Fund | 6.44% | 6.50% | 6.21% | 5.59% | 4.92% | 5.23% | 4.00% | 4.81% | 5.13% | 4.84% | 4.18% | 4.51% |
FNMIX Fidelity New Markets Income Fund | 4.66% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
Drawdowns
PYCEX vs. FNMIX - Drawdown Comparison
The maximum PYCEX drawdown since its inception was -20.12%, smaller than the maximum FNMIX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for PYCEX and FNMIX.
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Drawdown Indicators
| PYCEX | FNMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.12% | -42.76% | +22.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -5.12% | +2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -20.12% | -27.16% | +7.04% |
Max Drawdown (10Y)Largest decline over 10 years | -20.12% | -27.16% | +7.04% |
Current DrawdownCurrent decline from peak | -2.31% | -3.85% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -5.72% | +2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 1.16% | -0.45% |
Volatility
PYCEX vs. FNMIX - Volatility Comparison
The current volatility for Payden Emerging Markets Corporate Bond Fund (PYCEX) is 0.80%, while Fidelity New Markets Income Fund (FNMIX) has a volatility of 1.70%. This indicates that PYCEX experiences smaller price fluctuations and is considered to be less risky than FNMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYCEX | FNMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 1.70% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.40% | 3.00% | -1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.59% | 5.25% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.20% | 6.55% | -3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.57% | 6.94% | -3.37% |