PYSGX vs. VSCSX

Last updated Aug 1, 2026

PYSGX (Payden Strategic Income Fund) and VSCSX (Vanguard Short-Term Corporate Bond Index Fund Admiral Shares) are both Short-Term Bond funds. Over the past 10 years, PYSGX returned 3.21%/yr vs 2.64%/yr for VSCSX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. PYSGX charges 0.85%/yr vs 0.06%/yr for VSCSX.

Performance

PYSGX vs. VSCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payden Strategic Income Fund (PYSGX) and Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYSGX achieves a 0.60% return, which is significantly lower than VSCSX's 0.84% return. Over the past 10 years, PYSGX has outperformed VSCSX with an annualized return of 3.21%, while VSCSX has yielded a comparatively lower 2.64% annualized return.

PYSGX

• 1D: 0.15%
• 1M: -0.38%
• 6M: 0.26%
• YTD: 0.60%
• 1Y: 3.42%
• 3Y*: 5.61%
• 5Y*: 2.55%
• 10Y*: 3.21%
• ALL TIME*: 3.29%

VSCSX

• 1D: 0.05%
• 1M: -0.09%
• 6M: 0.47%
• YTD: 0.84%
• 1Y: 3.13%
• 3Y*: 5.51%
• 5Y*: 2.36%
• 10Y*: 2.64%
• ALL TIME*: 2.89%

*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)
PYSGX Payden Strategic Income Fund	$0.00	$0.00	$0.00
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	$0.00	$0.00	$0.00

PYSGX vs. VSCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PYSGX Payden Strategic Income Fund	0.60%	6.85%	5.46%	7.42%	-6.61%	1.72%	6.20%	8.33%	-0.52%	4.24%
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	0.84%	6.75%	5.36%	6.11%	-5.72%	-0.43%	5.06%	6.85%	0.88%	2.46%

Correlation

The correlation between PYSGX and VSCSX is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.77

The correlation between PYSGX and VSCSX shifts across timeframes, from 0.77 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PYSGX vs. VSCSX — Risk / Return Rank

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

PYSGX

PYSGX Risk / Return Rank: 65
PYSGX Sharpe Ratio Rank: 73
PYSGX Sortino Ratio Rank: 73
PYSGX Omega Ratio Rank: 74
PYSGX Calmar Ratio Rank: 52
PYSGX Martin Ratio Rank: 52

VSCSX

VSCSX Risk / Return Rank: 84
VSCSX Sharpe Ratio Rank: 85
VSCSX Sortino Ratio Rank: 85
VSCSX Omega Ratio Rank: 84
VSCSX Calmar Ratio Rank: 82
VSCSX Martin Ratio Rank: 84

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.

PYSGX vs. VSCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payden Strategic Income Fund (PYSGX) and Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX). 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.

	PYSGX	VSCSX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.06	-0.31
Sortino ratio: Return per unit of downside risk	2.55	3.05	-0.50
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	1.98	2.69	-0.71
Martin ratio: Return relative to average drawdown	7.40	10.30	-2.90

PYSGX vs. VSCSX - Sharpe Ratio Comparison

The current PYSGX Sharpe Ratio is 1.75, which is comparable to the VSCSX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of PYSGX and VSCSX, 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

PYSGX vs. VSCSX - Drawdown Comparison

The maximum PYSGX drawdown since its inception was -12.70%, which is greater than VSCSX's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for PYSGX and VSCSX.

Drawdown Indicators

	PYSGX	VSCSX	Difference
Max Drawdown Largest peak-to-trough decline	-12.70%	-9.36%	-3.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.95%	-1.36%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-2.22%	-1.36%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	-9.97%	-9.32%	-0.65%
Max Drawdown (10Y) Largest decline over 10 years	-12.70%	-9.36%	-3.34%
Current Drawdown Current decline from peak	-0.55%	-0.23%	-0.32%
Average Drawdown Average peak-to-trough decline	-1.38%	-0.97%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.36%	+0.16%

Volatility

PYSGX vs. VSCSX - Volatility Comparison

Payden Strategic Income Fund (PYSGX) has a higher volatility of 0.58% compared to Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX) at 0.51%. This indicates that PYSGX's price experiences larger fluctuations and is considered to be riskier than VSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYSGX	VSCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.51%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	1.83%	1.43%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.21%	1.79%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.91%	2.73%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.86%	2.37%	+0.49%

PYSGX vs. VSCSX - Expense Ratio Comparison

PYSGX has a 0.85% expense ratio, which is higher than VSCSX's 0.06% expense ratio.

Dividends

PYSGX vs. VSCSX - Dividend Comparison

PYSGX's dividend yield for the trailing twelve months is around 4.91%, more than VSCSX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PYSGX Payden Strategic Income Fund	4.91%	5.15%	5.22%	4.42%	3.76%	3.38%	2.90%	3.25%	3.27%	2.75%	2.70%	2.30%
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	4.05%	4.32%	4.27%	3.07%	1.98%	1.78%	2.25%	2.85%	2.66%	2.26%	1.93%	2.21%

Frequently Asked Questions

Can I hold both PYSGX and VSCSX in my portfolio?

PYSGX and VSCSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYSGX or VSCSX?

PYSGX has higher volatility (0.58%) compared to VSCSX (0.51%). In terms of maximum drawdown, PYSGX dropped -12.70% vs VSCSX's -9.36%.

Which has better risk-adjusted returns?

VSCSX currently has the higher Sharpe Ratio (2.06 vs 1.75), 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.