PYLMX vs. PYGNX
PYLMX (Payden Limited Maturity Fund) and PYGNX (Payden GNMA Fund) are both mutual funds - PYLMX is a Ultrashort Bond fund managed by Paydenfunds, while PYGNX is a Government Bonds fund managed by Paydenfunds. Over the past 10 years, PYLMX returned 2.77%/yr vs 0.57%/yr for PYGNX. Their 0.37 correlation means their historical movements had little consistent relationship. PYLMX charges 0.25%/yr vs 0.45%/yr for PYGNX.
Performance
PYLMX vs. PYGNX - Performance Comparison
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Returns By Period
In the year-to-date period, PYLMX achieves a 1.65% return, which is significantly higher than PYGNX's -0.65% return. Over the past 10 years, PYLMX has outperformed PYGNX with an annualized return of 2.77%, while PYGNX has yielded a comparatively lower 0.57% annualized 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%
PYGNX
- 1D
- -0.53%
- 1M
- -1.69%
- 6M
- -1.09%
- YTD
- -0.65%
- 1Y
- 2.41%
- 3Y*
- 3.57%
- 5Y*
- -0.62%
- 10Y*
- 0.57%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PYGNX Payden GNMA Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PYLMX vs. PYGNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYLMX Payden Limited Maturity Fund | 1.65% | 5.22% | 6.08% | 5.34% | 0.56% | 0.19% | 1.85% | 3.34% | 1.76% | 1.64% |
PYGNX Payden GNMA Fund | -0.65% | 7.54% | 0.84% | 3.93% | -12.54% | -2.26% | 4.27% | 5.67% | 0.37% | 1.33% |
Correlation
The correlation between PYLMX and PYGNX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 1999 | 0.37 |
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Return for Risk
PYLMX vs. PYGNX — Risk / Return Rank
PYLMX
PYGNX
PYLMX vs. PYGNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Limited Maturity Fund (PYLMX) and Payden GNMA Fund (PYGNX). 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 | PYGNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +6.06 | ||
| Omega ratioGain probability vs. loss probability | 2.38 | 1.14 | +1.24 |
| Calmar ratioReturn relative to maximum drawdown | 7.60 | 0.95 | +6.65 |
| Martin ratioReturn relative to average drawdown | 32.75 | 2.56 | +30.19 |
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Drawdowns
PYLMX vs. PYGNX - Drawdown Comparison
The maximum PYLMX drawdown since its inception was -5.56%, smaller than the maximum PYGNX drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for PYLMX and PYGNX.
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Drawdown Indicators
| PYLMX | PYGNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.56% | -19.64% | +14.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.52% | -3.40% | +2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -0.52% | -7.00% | +6.48% |
Max Drawdown (5Y)Largest decline over 5 years | -1.24% | -18.66% | +17.42% |
Max Drawdown (10Y)Largest decline over 10 years | -5.56% | -19.64% | +14.08% |
Current DrawdownCurrent decline from peak | 0.00% | -4.39% | +4.39% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.31% | +2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 1.26% | -1.14% |
Volatility
PYLMX vs. PYGNX - Volatility Comparison
The current volatility for Payden Limited Maturity Fund (PYLMX) is 0.15%, while Payden GNMA Fund (PYGNX) has a volatility of 1.18%. This indicates that PYLMX experiences smaller price fluctuations and is considered to be less risky than PYGNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYLMX | PYGNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 1.18% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 3.46% | -2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 4.25% | -2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.37% | 6.45% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.31% | 4.90% | -3.59% |
PYLMX vs. PYGNX - Expense Ratio Comparison
PYLMX has a 0.25% expense ratio, which is lower than PYGNX's 0.45% expense ratio.
Dividends
PYLMX vs. PYGNX - Dividend Comparison
PYLMX's dividend yield for the trailing twelve months is around 4.09%, more than PYGNX's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYGNX Payden GNMA Fund | 3.66% | 3.80% | 3.63% | 2.64% | 3.70% | 2.74% | 2.80% | 3.34% | 3.26% | 3.24% | 3.07% | 3.59% |
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
PYLMX and PYGNX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYGNX has higher volatility (1.18%) compared to PYLMX (0.15%). In terms of maximum drawdown, PYLMX dropped -5.56% vs PYGNX's -19.64%.
PYLMX currently has the higher Sharpe Ratio (2.66 vs 0.76), 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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