Correlation
The correlation between PYFRX and FFRHX is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
PYFRX vs. FFRHX
Compare and contrast key facts about Payden Floating Rate Fund (PYFRX) and Fidelity Floating Rate High Income Fund (FFRHX).
PYFRX is managed by Paydenfunds. It was launched on Nov 10, 2013. FFRHX is managed by Fidelity. It was launched on Aug 16, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PYFRX or FFRHX.
Performance
PYFRX vs. FFRHX - Performance Comparison
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Key characteristics
PYFRX:
2.79
FFRHX:
1.98
PYFRX:
3.43
FFRHX:
2.82
PYFRX:
1.93
FFRHX:
1.66
PYFRX:
2.16
FFRHX:
1.70
PYFRX:
10.42
FFRHX:
8.23
PYFRX:
0.55%
FFRHX:
0.68%
PYFRX:
2.11%
FFRHX:
3.22%
PYFRX:
-20.17%
FFRHX:
-22.19%
PYFRX:
-0.62%
FFRHX:
0.00%
Returns By Period
The year-to-date returns for both stocks are quite close, with PYFRX having a 0.80% return and FFRHX slightly lower at 0.77%. Both investments have delivered pretty close results over the past 10 years, with PYFRX having a 4.51% annualized return and FFRHX not far ahead at 4.63%.
PYFRX
0.80%
0.74%
1.17%
5.74%
8.27%
6.98%
4.51%
FFRHX
0.77%
0.99%
1.77%
5.59%
7.98%
7.06%
4.63%
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PYFRX vs. FFRHX - Expense Ratio Comparison
PYFRX has a 0.70% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Risk-Adjusted Performance
PYFRX vs. FFRHX — Risk-Adjusted Performance Rank
PYFRX
FFRHX
PYFRX vs. FFRHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Floating Rate Fund (PYFRX) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
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Dividends
PYFRX vs. FFRHX - Dividend Comparison
PYFRX's dividend yield for the trailing twelve months is around 8.00%, more than FFRHX's 7.34% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYFRX Payden Floating Rate Fund | 8.00% | 8.88% | 8.35% | 5.07% | 2.95% | 3.22% | 4.44% | 4.22% | 3.31% | 3.53% | 3.19% | 3.37% |
FFRHX Fidelity Floating Rate High Income Fund | 7.34% | 8.33% | 8.25% | 5.06% | 3.27% | 3.85% | 5.17% | 4.75% | 4.05% | 3.94% | 4.25% | 4.00% |
Drawdowns
PYFRX vs. FFRHX - Drawdown Comparison
The maximum PYFRX drawdown since its inception was -20.17%, smaller than the maximum FFRHX drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for PYFRX and FFRHX.
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Volatility
PYFRX vs. FFRHX - Volatility Comparison
Payden Floating Rate Fund (PYFRX) has a higher volatility of 0.89% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.63%. This indicates that PYFRX's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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