PYGFX vs. VTABX

Last updated Aug 4, 2026

PYGFX (Payden Global Fixed Income Fund) and VTABX (Vanguard Total International Bond Index Fund Admiral Shares) are both Global Bonds funds. Over the past 10 years, PYGFX returned 1.85%/yr vs 1.57%/yr for VTABX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PYGFX charges 0.70%/yr vs 0.10%/yr for VTABX.

Performance

PYGFX vs. VTABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payden Global Fixed Income Fund (PYGFX) and Vanguard Total International Bond Index Fund Admiral Shares (VTABX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYGFX achieves a -0.08% return, which is significantly lower than VTABX's 0.05% return. Over the past 10 years, PYGFX has outperformed VTABX with an annualized return of 1.85%, while VTABX has yielded a comparatively lower 1.57% 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%

VTABX

• 1D: -0.21%
• 1M: -0.98%
• 6M: -0.28%
• YTD: 0.05%
• 1Y: 1.11%
• 3Y*: 4.06%
• 5Y*: -0.05%
• 10Y*: 1.57%
• ALL TIME*: 2.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PYGFX Payden Global Fixed Income Fund	$0.00	$0.00	$0.00
VTABX Vanguard Total International Bond Index Fund Admiral Shares	$0.00	$0.00	$0.00

PYGFX vs. VTABX - 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%
VTABX Vanguard Total International Bond Index Fund Admiral Shares	0.05%	2.96%	3.92%	8.77%	-12.92%	-2.22%	4.54%	8.83%	2.97%	2.39%

Correlation

The correlation between PYGFX and VTABX is 0.85, 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.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013	0.79

The correlation between PYGFX and VTABX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

Return for Risk

PYGFX vs. VTABX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PYGFX

PYGFX Risk / Return Rank: 17
PYGFX Sharpe Ratio Rank: 19
PYGFX Sortino Ratio Rank: 18
PYGFX Omega Ratio Rank: 19
PYGFX Calmar Ratio Rank: 14
PYGFX Martin Ratio Rank: 14

VTABX

VTABX Risk / Return Rank: 8
VTABX Sharpe Ratio Rank: 9
VTABX Sortino Ratio Rank: 8
VTABX Omega Ratio Rank: 8
VTABX Calmar Ratio Rank: 8
VTABX Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PYGFX vs. VTABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payden Global Fixed Income Fund (PYGFX) and Vanguard Total International Bond Index Fund Admiral Shares (VTABX). 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	VTABX	Difference
Sharpe ratio: Return per unit of total volatility	0.77	0.37	+0.39
Sortino ratio: Return per unit of downside risk	1.12	0.55	+0.57
Omega ratio: Gain probability vs. loss probability	1.14	1.07	+0.07
Calmar ratio: Return relative to maximum drawdown	0.75	0.40	+0.35
Martin ratio: Return relative to average drawdown	2.01	1.01	+1.00

PYGFX vs. VTABX - Sharpe Ratio Comparison

The current PYGFX Sharpe Ratio is 0.77, which is higher than the VTABX Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of PYGFX and VTABX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PYGFX vs. VTABX - Drawdown Comparison

The maximum PYGFX drawdown since its inception was -15.94%, roughly equal to the maximum VTABX drawdown of -16.16%. Use the drawdown chart below to compare losses from any high point for PYGFX and VTABX.

Drawdown Indicators

	PYGFX	VTABX	Difference
Max Drawdown Largest peak-to-trough decline	-15.94%	-16.16%	+0.22%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-2.90%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-3.55%	-2.90%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-15.94%	-15.81%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-15.94%	-16.16%	+0.22%
Current Drawdown Current decline from peak	-1.94%	-1.80%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.07%	-3.02%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.15%	+0.04%

Volatility

PYGFX vs. VTABX - Volatility Comparison

The current volatility for Payden Global Fixed Income Fund (PYGFX) is 0.76%, while Vanguard Total International Bond Index Fund Admiral Shares (VTABX) has a volatility of 0.88%. This indicates that PYGFX experiences smaller price fluctuations and is considered to be less risky than VTABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYGFX	VTABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	0.88%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	2.70%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	3.12%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.35%	4.46%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.66%	3.61%	+0.05%

PYGFX vs. VTABX - Expense Ratio Comparison

PYGFX has a 0.70% expense ratio, which is higher than VTABX's 0.10% expense ratio.

Dividends

PYGFX vs. VTABX - Dividend Comparison

PYGFX's dividend yield for the trailing twelve months is around 4.15%, less than VTABX's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VTABX Vanguard Total International Bond Index Fund Admiral Shares	4.28%	4.36%	4.33%	4.39%	1.48%	3.70%	1.08%	4.28%	3.00%	2.23%	1.80%	1.64%

Frequently Asked Questions

Can I hold both PYGFX and VTABX in my portfolio?

PYGFX and VTABX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYGFX or VTABX?

VTABX has higher volatility (0.88%) compared to PYGFX (0.76%). In terms of maximum drawdown, PYGFX dropped -15.94% vs VTABX's -16.16%.

Which has better risk-adjusted returns?

PYGFX currently has the higher Sharpe Ratio (0.77 vs 0.37), 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.