PYCEX vs. IMCDX

Last updated Apr 1, 2026

Compare and contrast key facts about Payden Emerging Markets Corporate Bond Fund (PYCEX) and Voya Emerging Markets Corporate Debt Fund (IMCDX).

PYCEX is managed by Paydenfunds. It was launched on Nov 10, 2013. IMCDX is managed by Voya. It was launched on Aug 8, 2012.

Performance

PYCEX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payden Emerging Markets Corporate Bond Fund (PYCEX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

PYCEX vs. IMCDX - 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%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%

Returns By Period

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%

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PYCEX vs. IMCDX - Expense Ratio Comparison

PYCEX has a 0.65% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

PYCEX

Payden Emerging Markets Corporate Bond Fund

IMCDX

Voya Emerging Markets Corporate Debt Fund

Return for Risk

PYCEX vs. IMCDX — Risk / Return Rank

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

PYCEX

PYCEX Risk / Return Rank: 83
PYCEX Sharpe Ratio Rank: 90
PYCEX Sortino Ratio Rank: 88
PYCEX Omega Ratio Rank: 93
PYCEX Calmar Ratio Rank: 70
PYCEX Martin Ratio Rank: 72

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.

PYCEX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payden Emerging Markets Corporate Bond Fund (PYCEX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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	IMCDX	Difference
Sharpe ratio Return per unit of total volatility	1.87	—	—
Sortino ratio Return per unit of downside risk	2.42	—	—
Omega ratio Gain probability vs. loss probability	1.46	—	—
Calmar ratio Return relative to maximum drawdown	1.64	—	—
Martin ratio Return relative to average drawdown	6.88	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PYCEX	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	—	—

Correlation

The correlation between PYCEX and IMCDX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PYCEX vs. IMCDX - Dividend Comparison

PYCEX's dividend yield for the trailing twelve months is around 6.44%, while IMCDX has not paid dividends to shareholders.

	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%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Drawdowns

Drawdown Indicators

	PYCEX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-20.12%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.12%	—	—
Current Drawdown Current decline from peak	-2.31%	—	—
Average Drawdown Average peak-to-trough decline	-3.04%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	—	—

Volatility

Volatility by Period

	PYCEX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.59%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.20%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.57%	—	—