PYGFX vs. PYCRX
PYGFX (Payden Global Fixed Income Fund) and PYCRX (Payden California Municipal Social Impact Fund) are both mutual funds - PYGFX is a Global Bonds fund managed by Paydenfunds, while PYCRX is a Municipal Bonds fund managed by Paydenfunds. Over the past 10 years, PYGFX returned 1.85%/yr vs 2.51%/yr for PYCRX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. PYGFX charges 0.70%/yr vs 0.45%/yr for PYCRX.
Performance
PYGFX vs. PYCRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PYGFX achieves a -0.08% return, which is significantly higher than PYCRX's -0.27% return. Over the past 10 years, PYGFX has underperformed PYCRX with an annualized return of 1.85%, while PYCRX has yielded a comparatively higher 2.51% annualized return.
PYGFX
- 1D
- -0.13%
- 1M
- -0.84%
- 6M
- -0.41%
- YTD
- -0.08%
- 1Y
- 1.99%
- 3Y*
- 4.45%
- 5Y*
- 0.34%
- 10Y*
- 1.85%
- ALL TIME*
- 3.99%
PYCRX
- 1D
- -0.10%
- 1M
- -1.90%
- 6M
- -1.24%
- YTD
- -0.27%
- 1Y
- 3.89%
- 3Y*
- 3.91%
- 5Y*
- 1.43%
- 10Y*
- 2.51%
- ALL TIME*
- 3.43%
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 |
PYGFX vs. PYCRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYGFX Payden Global Fixed Income Fund | -0.08% | 5.20% | 3.90% | 7.34% | -12.37% | -0.89% | 5.92% | 8.61% | -0.26% | 4.11% |
PYCRX Payden California Municipal Social Impact Fund | -0.27% | 6.37% | 2.57% | 6.16% | -6.38% | 0.76% | 5.58% | 8.21% | 0.57% | 6.04% |
Correlation
The correlation between PYGFX and PYCRX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.53 |
The correlation between PYGFX and PYCRX shifts across timeframes, from 0.53 (all time) to 0.68 (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
PYGFX vs. PYCRX — Risk / Return Rank
PYGFX
PYCRX
PYGFX vs. PYCRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Global Fixed Income Fund (PYGFX) and Payden California Municipal Social Impact Fund (PYCRX). 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.
| PYGFX | PYCRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.40 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.47 | -0.72 |
| Martin ratioReturn relative to average drawdown | 2.01 | 3.98 | -1.97 |
Loading charts...
Drawdowns
PYGFX vs. PYCRX - Drawdown Comparison
The maximum PYGFX drawdown since its inception was -15.94%, which is greater than PYCRX's maximum drawdown of -10.80%. Use the drawdown chart below to compare losses from any high point for PYGFX and PYCRX.
Loading charts...
Drawdown Indicators
| PYGFX | PYCRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -10.80% | -5.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -2.95% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -3.55% | -3.83% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -10.72% | -5.22% |
Max Drawdown (10Y)Largest decline over 10 years | -15.94% | -10.80% | -5.14% |
Current DrawdownCurrent decline from peak | -1.94% | -2.56% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -1.42% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.09% | +0.10% |
Volatility
PYGFX vs. PYCRX - Volatility Comparison
The current volatility for Payden Global Fixed Income Fund (PYGFX) is 0.76%, while Payden California Municipal Social Impact Fund (PYCRX) has a volatility of 0.83%. This indicates that PYGFX experiences smaller price fluctuations and is considered to be less risky than PYCRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PYGFX | PYCRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.83% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 2.06% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 2.52% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.35% | 3.33% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.66% | 3.26% | +0.40% |
PYGFX vs. PYCRX - Expense Ratio Comparison
PYGFX has a 0.70% expense ratio, which is higher than PYCRX's 0.45% expense ratio.
Dividends
PYGFX vs. PYCRX - Dividend Comparison
PYGFX's dividend yield for the trailing twelve months is around 4.15%, more than PYCRX's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYCRX Payden California Municipal Social Impact Fund | 3.15% | 4.58% | 4.06% | 2.78% | 1.82% | 1.23% | 3.72% | 4.89% | 2.43% | 2.28% | 3.47% | 3.34% |
PYGFX Payden Global Fixed Income Fund | 4.15% | 3.88% | 3.69% | 2.71% | 8.25% | 3.18% | 2.69% | 3.07% | 5.39% | 1.91% | 1.48% | 3.00% |
Frequently Asked Questions
PYGFX and PYCRX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYCRX has higher volatility (0.83%) compared to PYGFX (0.76%). In terms of maximum drawdown, PYGFX dropped -15.94% vs PYCRX's -10.80%.
PYCRX currently has the higher Sharpe Ratio (1.74 vs 0.77), 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 PYGFX and PYCRX
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