PYLMX vs. CBUDX

Last updated Aug 4, 2026

PYLMX (Payden Limited Maturity Fund) and CBUDX (CrossingBridge Ultra-Short Duration Fund) are both Ultrashort Bond funds. Over the past 5 years, PYLMX returned 3.73%/yr vs 4.17%/yr for CBUDX. Their 0.07 correlation means their historical movements had little consistent relationship. PYLMX charges 0.25%/yr vs 0.89%/yr for CBUDX.

Performance

PYLMX vs. CBUDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payden Limited Maturity Fund (PYLMX) and CrossingBridge Ultra-Short Duration Fund (CBUDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYLMX achieves a 1.65% return, which is significantly lower than CBUDX's 1.79% return.

PYLMX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 1.27%
• YTD: 1.65%
• 1Y: 3.74%
• 3Y*: 4.98%
• 5Y*: 3.73%
• 10Y*: 2.77%
• ALL TIME*: 2.86%

CBUDX

• 1D: 0.00%
• 1M: 0.35%
• 6M: 1.44%
• YTD: 1.79%
• 1Y: 3.98%
• 3Y*: 5.24%
• 5Y*: 4.17%
• 10Y*: —
• ALL TIME*: 4.12%

*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)
CBUDX CrossingBridge Ultra-Short Duration Fund	$0.00	$0.00	$0.00
PYLMX Payden Limited Maturity Fund	$0.00	$0.00	$0.00

PYLMX vs. CBUDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PYLMX Payden Limited Maturity Fund	1.65%	5.22%	6.08%	5.34%	0.56%	0.04%
CBUDX CrossingBridge Ultra-Short Duration Fund	1.79%	5.25%	5.83%	5.61%	2.25%	0.26%

Correlation

The correlation between PYLMX and CBUDX is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.07
Correlation (5Y) Shows whether the relationship held over a longer period.	0.07
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.07

Return for Risk

PYLMX vs. CBUDX — Risk / Return Rank

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

PYLMX

PYLMX Risk / Return Rank: 98
PYLMX Sharpe Ratio Rank: 96
PYLMX Sortino Ratio Rank: 99
PYLMX Omega Ratio Rank: 99
PYLMX Calmar Ratio Rank: 99
PYLMX Martin Ratio Rank: 99

CBUDX

CBUDX Risk / Return Rank: 99
CBUDX Sharpe Ratio Rank: 100
CBUDX Sortino Ratio Rank: 99
CBUDX Omega Ratio Rank: 99
CBUDX Calmar Ratio Rank: 99
CBUDX Martin Ratio Rank: 99

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.

PYLMX vs. CBUDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payden Limited Maturity Fund (PYLMX) and CrossingBridge Ultra-Short Duration Fund (CBUDX). 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.

	PYLMX	CBUDX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	4.59	-1.93
Sortino ratio: Return per unit of downside risk	7.16	7.90	-0.74
Omega ratio: Gain probability vs. loss probability	2.38	3.34	-0.97
Calmar ratio: Return relative to maximum drawdown	7.60	9.96	-2.36
Martin ratio: Return relative to average drawdown	32.75	48.55	-15.80

PYLMX vs. CBUDX - Sharpe Ratio Comparison

The current PYLMX Sharpe Ratio is 2.66, which is lower than the CBUDX Sharpe Ratio of 4.59. The chart below compares the historical Sharpe Ratios of PYLMX and CBUDX, 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

PYLMX vs. CBUDX - Drawdown Comparison

The maximum PYLMX drawdown since its inception was -5.56%, which is greater than CBUDX's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for PYLMX and CBUDX.

Drawdown Indicators

	PYLMX	CBUDX	Difference
Max Drawdown Largest peak-to-trough decline	-5.56%	-0.40%	-5.16%
Max Drawdown (1Y) Largest decline over 1 year	-0.52%	-0.40%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-0.52%	-0.40%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-1.24%	-0.40%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-5.56%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.04%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.08%	+0.04%

Volatility

PYLMX vs. CBUDX - Volatility Comparison

The current volatility for Payden Limited Maturity Fund (PYLMX) is 0.15%, while CrossingBridge Ultra-Short Duration Fund (CBUDX) has a volatility of 0.17%. This indicates that PYLMX experiences smaller price fluctuations and is considered to be less risky than CBUDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYLMX	CBUDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	0.17%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	0.71%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	0.87%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.37%	0.92%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.31%	0.91%	+0.40%

PYLMX vs. CBUDX - Expense Ratio Comparison

PYLMX has a 0.25% expense ratio, which is lower than CBUDX's 0.89% expense ratio.

Dividends

PYLMX vs. CBUDX - Dividend Comparison

PYLMX's dividend yield for the trailing twelve months is around 4.09%, more than CBUDX's 4.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBUDX CrossingBridge Ultra-Short Duration Fund	4.01%	4.61%	5.68%	5.67%	2.94%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PYLMX Payden Limited Maturity Fund	4.09%	4.96%	5.36%	3.79%	1.83%	0.50%	1.39%	2.54%	2.28%	1.42%	0.91%	0.73%

Frequently Asked Questions

Can I hold both PYLMX and CBUDX in my portfolio?

PYLMX and CBUDX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYLMX or CBUDX?

CBUDX has higher volatility (0.17%) compared to PYLMX (0.15%). In terms of maximum drawdown, PYLMX dropped -5.56% vs CBUDX's -0.40%.

Which has better risk-adjusted returns?

CBUDX currently has the higher Sharpe Ratio (4.59 vs 2.66), 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.