PYELX vs. PFSIX
PYELX (Payden Emerging Markets Local Bond Fund) and PFSIX (PIMCO Emerging Markets Full Spectrum Bond Fund) are both Emerging Markets Bonds funds. Over the past 10 years, PYELX returned 9.90%/yr vs 3.71%/yr for PFSIX. Their correlation of 0.86 means they have usually moved in the same direction. PYELX charges 0.09%/yr vs 0.94%/yr for PFSIX.
Performance
PYELX vs. PFSIX - Performance Comparison
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Returns By Period
In the year-to-date period, PYELX achieves a 1.36% return, which is significantly higher than PFSIX's 1.24% return. Over the past 10 years, PYELX has outperformed PFSIX with an annualized return of 9.90%, while PFSIX has yielded a comparatively lower 3.71% annualized return.
PYELX
- 1D
- 0.60%
- 1M
- -0.11%
- 6M
- -0.52%
- YTD
- 1.36%
- 1Y
- 8.96%
- 3Y*
- 33.43%
- 5Y*
- 17.64%
- 10Y*
- 9.90%
- ALL TIME*
- 6.12%
PFSIX
- 1D
- 0.31%
- 1M
- -1.08%
- 6M
- -0.67%
- YTD
- 1.24%
- 1Y
- 9.09%
- 3Y*
- 8.50%
- 5Y*
- 3.05%
- 10Y*
- 3.71%
- ALL TIME*
- 1.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PYELX vs. PFSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYELX Payden Emerging Markets Local Bond Fund | 1.36% | 139.58% | -3.48% | 13.16% | -11.28% | -7.83% | 1.79% | 13.92% | -8.16% | 15.38% |
PFSIX PIMCO Emerging Markets Full Spectrum Bond Fund | 1.24% | 18.47% | 2.89% | 10.66% | -12.11% | -5.11% | 4.34% | 15.20% | -5.26% | 12.33% |
Correlation
The correlation between PYELX and PFSIX is 0.82, 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. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2013 | 0.86 |
The correlation between PYELX and PFSIX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
PYELX vs. PFSIX — Risk / Return Rank
PYELX
PFSIX
PYELX vs. PFSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Emerging Markets Local Bond Fund (PYELX) and PIMCO Emerging Markets Full Spectrum Bond Fund (PFSIX). 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.
| PYELX | PFSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.75 | -0.47 |
| Martin ratioReturn relative to average drawdown | 3.85 | 5.28 | -1.43 |
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Drawdowns
PYELX vs. PFSIX - Drawdown Comparison
The maximum PYELX drawdown since its inception was -35.29%, which is greater than PFSIX's maximum drawdown of -28.20%. Use the drawdown chart below to compare losses from any high point for PYELX and PFSIX.
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Drawdown Indicators
| PYELX | PFSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.29% | -28.20% | -7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -5.79% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -8.12% | -5.79% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -24.24% | -23.85% | -0.39% |
Max Drawdown (10Y)Largest decline over 10 years | -26.58% | -24.61% | -1.97% |
Current DrawdownCurrent decline from peak | -2.44% | -1.88% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -16.27% | -9.22% | -7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 1.91% | +0.48% |
Volatility
PYELX vs. PFSIX - Volatility Comparison
Payden Emerging Markets Local Bond Fund (PYELX) has a higher volatility of 1.74% compared to PIMCO Emerging Markets Full Spectrum Bond Fund (PFSIX) at 1.25%. This indicates that PYELX's price experiences larger fluctuations and is considered to be riskier than PFSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYELX | PFSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.25% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 6.02% | 4.98% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.78% | 5.81% | +0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.35% | 6.06% | +39.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.68% | 6.29% | +26.39% |
PYELX vs. PFSIX - Expense Ratio Comparison
PYELX has a 0.09% expense ratio, which is lower than PFSIX's 0.94% expense ratio.
Dividends
PYELX vs. PFSIX - Dividend Comparison
PYELX's dividend yield for the trailing twelve months is around 7.15%, more than PFSIX's 6.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFSIX PIMCO Emerging Markets Full Spectrum Bond Fund | 6.89% | 6.45% | 6.58% | 4.65% | 3.75% | 4.40% | 4.23% | 5.22% | 5.66% | 5.22% | 5.20% | 5.44% |
PYELX Payden Emerging Markets Local Bond Fund | 7.15% | 6.28% | 7.08% | 5.38% | 5.93% | 5.36% | 4.69% | 5.46% | 6.67% | 6.15% | 5.44% | 5.26% |
Frequently Asked Questions
PYELX and PFSIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYELX has higher volatility (1.74%) compared to PFSIX (1.25%). In terms of maximum drawdown, PYELX dropped -35.29% vs PFSIX's -28.20%.
PFSIX currently has the higher Sharpe Ratio (1.75 vs 1.36), 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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