PYGNX vs. SEGMX
PYGNX (Payden GNMA Fund) and SEGMX (SEI Daily Income Trust GNMA Fund) are both Government Bonds funds. Over the past 10 years, PYGNX returned 0.80%/yr vs 0.88%/yr for SEGMX. Their correlation of 0.89 suggests significant overlap in exposure. PYGNX charges 0.45%/yr vs 0.63%/yr for SEGMX.
Performance
PYGNX vs. SEGMX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PYGNX having a 1.13% return and SEGMX slightly lower at 1.11%. Over the past 10 years, PYGNX has underperformed SEGMX with an annualized return of 0.80%, while SEGMX has yielded a comparatively higher 0.88% annualized return.
PYGNX
- 1D
- 0.39%
- 1M
- 0.86%
- YTD
- 1.13%
- 6M
- 1.18%
- 1Y
- 5.35%
- 3Y*
- 3.82%
- 5Y*
- -0.17%
- 10Y*
- 0.80%
SEGMX
- 1D
- 0.44%
- 1M
- 0.75%
- YTD
- 1.11%
- 6M
- 1.28%
- 1Y
- 5.20%
- 3Y*
- 3.71%
- 5Y*
- -0.01%
- 10Y*
- 0.88%
PYGNX vs. SEGMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYGNX Payden GNMA Fund | 1.13% | 7.54% | 0.84% | 3.93% | -12.54% | -2.26% | 4.27% | 5.67% | 0.37% | 1.33% |
SEGMX SEI Daily Income Trust GNMA Fund | 1.11% | 7.15% | 0.60% | 4.44% | -11.53% | -2.06% | 3.77% | 5.50% | 0.59% | 1.66% |
Correlation
The correlation between PYGNX and SEGMX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 1999 | 0.89 |
The correlation between PYGNX and SEGMX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.
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Return for Risk
PYGNX vs. SEGMX — Risk / Return Rank
PYGNX
SEGMX
PYGNX vs. SEGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden GNMA Fund (PYGNX) and SEI Daily Income Trust GNMA Fund (SEGMX). 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.
| PYGNX | SEGMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.75 | -0.13 |
| Martin ratioReturn relative to average drawdown | 4.96 | 5.29 | -0.34 |
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Drawdowns
PYGNX vs. SEGMX - Drawdown Comparison
The maximum PYGNX drawdown since its inception was -19.64%, which is greater than SEGMX's maximum drawdown of -17.59%. Use the drawdown chart below to compare losses from any high point for PYGNX and SEGMX.
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Drawdown Indicators
| PYGNX | SEGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -17.59% | -2.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -2.98% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -8.09% | -7.14% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -18.72% | -16.78% | -1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -17.59% | -2.05% |
Current DrawdownCurrent decline from peak | -2.67% | -1.58% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -1.83% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.98% | +0.13% |
Volatility
PYGNX vs. SEGMX - Volatility Comparison
The current volatility for Payden GNMA Fund (PYGNX) is 1.24%, while SEI Daily Income Trust GNMA Fund (SEGMX) has a volatility of 1.35%. This indicates that PYGNX experiences smaller price fluctuations and is considered to be less risky than SEGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYGNX | SEGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.35% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.31% | 3.09% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 4.04% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.44% | 6.12% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 4.65% | +0.24% |
PYGNX vs. SEGMX - Expense Ratio Comparison
PYGNX has a 0.45% expense ratio, which is lower than SEGMX's 0.63% expense ratio.
Dividends
PYGNX vs. SEGMX - Dividend Comparison
PYGNX's dividend yield for the trailing twelve months is around 3.91%, more than SEGMX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYGNX Payden GNMA Fund | 3.91% | 3.80% | 3.63% | 2.64% | 3.70% | 2.74% | 2.80% | 3.34% | 3.26% | 3.24% | 3.07% | 3.59% |
SEGMX SEI Daily Income Trust GNMA Fund | 3.64% | 3.31% | 2.62% | 2.29% | 1.84% | 1.71% | 2.18% | 2.71% | 2.91% | 2.81% | 3.36% | 2.75% |
Frequently Asked Questions
With a correlation of 0.95, PYGNX and SEGMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SEGMX has higher volatility (1.35%) compared to PYGNX (1.24%). In terms of maximum drawdown, PYGNX dropped -19.64% vs SEGMX's -17.59%.
SEGMX currently has the higher Sharpe Ratio (1.30 vs 1.28), 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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