PYUSX vs. VEDTX

Last updated Jul 14, 2026

PYUSX (Payden U.S. Government Fund) and VEDTX (Vanguard Extended Duration Treasury Index Fund) are both Government Bonds funds. Over the past 10 years, PYUSX returned 1.43%/yr vs -4.23%/yr for VEDTX. A 0.62 correlation means they provide meaningful diversification when combined. PYUSX charges 0.43%/yr vs 0.06%/yr for VEDTX.

Performance

PYUSX vs. VEDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Payden U.S. Government Fund (PYUSX) and Vanguard Extended Duration Treasury Index Fund (VEDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYUSX achieves a 0.16% return, which is significantly higher than VEDTX's -2.19% return. Over the past 10 years, PYUSX has outperformed VEDTX with an annualized return of 1.43%, while VEDTX has yielded a comparatively lower -4.23% annualized return.

PYUSX

• 1D: -0.11%
• 1M: -0.01%
• 6M: 0.16%
• YTD: 0.16%
• 1Y: 3.03%
• 3Y*: 4.00%
• 5Y*: 1.15%
• 10Y*: 1.43%

VEDTX

• 1D: 0.16%
• 1M: -1.89%
• 6M: -2.54%
• YTD: -2.19%
• 1Y: 2.17%
• 3Y*: -4.81%
• 5Y*: -11.43%
• 10Y*: -4.23%

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

PYUSX vs. VEDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PYUSX Payden U.S. Government Fund	0.16%	5.93%	3.40%	3.31%	-5.61%	-1.45%	4.70%	3.99%	0.47%	0.81%
VEDTX Vanguard Extended Duration Treasury Index Fund	-2.19%	1.34%	-13.35%	2.15%	-39.40%	-6.52%	24.20%	19.16%	-3.50%	12.69%

Correlation

The correlation between PYUSX and VEDTX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.62

The correlation between PYUSX and VEDTX has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.

Return for Risk

PYUSX vs. VEDTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PYUSX

PYUSX Risk / Return Rank: 38
PYUSX Sharpe Ratio Rank: 35
PYUSX Sortino Ratio Rank: 44
PYUSX Omega Ratio Rank: 41
PYUSX Calmar Ratio Rank: 38
PYUSX Martin Ratio Rank: 28

VEDTX

VEDTX Risk / Return Rank: 3
VEDTX Sharpe Ratio Rank: 3
VEDTX Sortino Ratio Rank: 3
VEDTX Omega Ratio Rank: 3
VEDTX Calmar Ratio Rank: 3
VEDTX Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PYUSX vs. VEDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Payden U.S. Government Fund (PYUSX) and Vanguard Extended Duration Treasury Index Fund (VEDTX). 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.

	PYUSX	VEDTX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	-0.00	+1.31
Sortino ratio: Return per unit of downside risk	2.13	0.10	+2.03
Omega ratio: Gain probability vs. loss probability	1.27	1.01	+0.25
Calmar ratio: Return relative to maximum drawdown	1.87	-0.00	+1.88
Martin ratio: Return relative to average drawdown	5.03	-0.01	+5.04

PYUSX vs. VEDTX - Sharpe Ratio Comparison

The current PYUSX Sharpe Ratio is 1.30, which is higher than the VEDTX Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of PYUSX and VEDTX, 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

PYUSX vs. VEDTX - Drawdown Comparison

The maximum PYUSX drawdown since its inception was -8.86%, smaller than the maximum VEDTX drawdown of -60.00%. Use the drawdown chart below to compare losses from any high point for PYUSX and VEDTX.

Drawdown Indicators

	PYUSX	VEDTX	Difference
Max Drawdown Largest peak-to-trough decline	-8.86%	-60.00%	+51.14%
Max Drawdown (1Y) Largest decline over 1 year	-1.56%	-12.41%	+10.85%
Max Drawdown (3Y) Largest decline over 3 years	-1.76%	-26.46%	+24.70%
Max Drawdown (5Y) Largest decline over 5 years	-8.56%	-55.15%	+46.59%
Max Drawdown (10Y) Largest decline over 10 years	-8.86%	-60.00%	+51.14%
Current Drawdown Current decline from peak	-0.86%	-55.03%	+54.17%
Average Drawdown Average peak-to-trough decline	-0.99%	-23.65%	+22.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	5.70%	-5.12%

Volatility

PYUSX vs. VEDTX - Volatility Comparison

The current volatility for Payden U.S. Government Fund (PYUSX) is 0.68%, while Vanguard Extended Duration Treasury Index Fund (VEDTX) has a volatility of 4.52%. This indicates that PYUSX experiences smaller price fluctuations and is considered to be less risky than VEDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYUSX	VEDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	4.52%	-3.84%
Volatility (6M) Calculated over the trailing 6-month period	1.71%	10.28%	-8.57%
Volatility (1Y) Calculated over the trailing 1-year period	2.25%	14.35%	-12.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	21.82%	-19.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.33%	20.05%	-17.72%

PYUSX vs. VEDTX - Expense Ratio Comparison

PYUSX has a 0.43% expense ratio, which is higher than VEDTX's 0.06% expense ratio.

Dividends

PYUSX vs. VEDTX - Dividend Comparison

PYUSX's dividend yield for the trailing twelve months is around 3.77%, less than VEDTX's 5.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PYUSX Payden U.S. Government Fund	3.77%	3.72%	3.76%	2.91%	2.88%	1.84%	2.38%	2.63%	2.22%	1.78%	1.66%	1.51%
VEDTX Vanguard Extended Duration Treasury Index Fund	5.23%	4.94%	4.68%	3.55%	3.30%	1.96%	5.56%	3.53%	2.94%	2.23%	5.34%	4.28%

Frequently Asked Questions

Can I hold both PYUSX and VEDTX in my portfolio?

PYUSX and VEDTX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYUSX or VEDTX?

VEDTX has higher volatility (4.52%) compared to PYUSX (0.68%). In terms of maximum drawdown, PYUSX dropped -8.86% vs VEDTX's -60.00%.

Which has better risk-adjusted returns?

PYUSX currently has the higher Sharpe Ratio (1.30 vs -0.00), 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.