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NAV / Daily Prices
NAV ($)
1.00
NAV Change ($)
0.00
Change %
0.00%
MTD Return
0.08%
YTD Return
Statistics
7-Day SEC YieldA
3.35%
7-Day SEC Yield (Unsubsidized)B
3.22%
Average Maturity
26 Days
Expenses
Total Fund Operating Expenses
0.38%C
With Expense Cap
0.25%
| Total ReturnsE | Quarter-End (03/31/2026) | Month-End (05/31/2026) |
| YTD | 0.86% | 1.43% |
| 1 Year | 3.93% | 3.80% |
| 3 Years |
The 7-day SEC yield represents the annualized income earned by the Fund over a 7-day period. The yield reflects the deduction of the Fund’s operating expenses. Yields will fluctuate and are not a guarantee of future results.
Represents a 7-day SEC Yield without adjusting for fee waivers or expense reimbursements.
Payden & Rygel has contractually agreed to limit Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement to 0.25%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.25% expense level does not include Acquired Fund Fees and Expenses, interest, taxes, and extraordinary expenses.
Quoted performance data represent past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. For the most recent month-end performance, which may be higher or lower than that quoted, select this link or call 800 572-9336.
Returns less than one year are not annualized.
Expenses are lower than 59% of the funds reporting expense ratios included in the Morningstar U.S. Money Market - Taxable Category as of March 2026.
Mutual funds are required by the IRS to distribute substantially all realized profits they earn to shareholders on at least an annual basis. If a fund has net gains from the sale of securities, or if it earns dividends or interest from securities, the fund must distribute those earnings to its shareholders. All distributions are taxable, unless an investor's shares are held in a tax-deferred or tax-exempt account such as an IRA. Payden shareholders have the option to receive their distributions in cash or to automatically reinvest the distribution back into the Fund. This information is not intended to provide tax advice. Please consult a qualified tax professional for advice specific to your circumstances. Dividends shown are historical and not guaranteed. Amounts may vary and do not predict future income.
Sector
Percent of Portfolio
Money Markets
56%
Government/Gov't Related
22%
Repurchase Agreements
22%
Fund Holdings as of May 31, 2026
| 4.60% |
| 4.53% |
| 5 Years | 3.23% | 3.35% |
| 10 Years | 2.08% | 2.13% |
| Since Inception | 2.14% | 2.15% |
| Returns less than one year are not annualized. All returns are net of fees. |
DividendsG
Dividend
$0.0028
Dividend Reinvest NAV
$1.00
Record Date
05/29/2026
Ex Date
05/29/2026
Payable Date
05/29/2026
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Fund Inception Date
12/17/1997
Share Class Inception Date
12/17/1997
Share Class
Investor Class
Ticker
PBHXX
CUSIP
704329598
Fund Total Net Assets
As of 05/31/2026
$339.4 Million
Sales Charge
None
Benchmark
Lipper U.S. Govt Money Market Funds
Money Market – Appropriate for investors who require maximum portfolio liquidity and stability of principal.
The Payden Cash Reserves Money Market Fund seeks to provide current income and daily liquidity while maintaining a stable share price of $1.00. The Fund invests at least 99.5% of its total assets in cash, U.S. government debt securities and repurchase agreements that are fully collateralized by cash or U.S. government securities. It may invest up to 0.5% of its total assets in bank, corporate, mortgage-backed, and asset-backed debt securities of U.S. and foreign issuers.
Low annual expense ratio.F
Seeks to maintain a stable share price of $1.00.
Data as of 05/31/2026
Sector
Percent of Portfolio
Money Markets
56%
Government/Gov't Related
22%
Repurchase Agreements
22%
Data as of 05/31/2026
Geopolitics remained center stage during May. While a fragile ceasefire between Israel and Iran remained in effect, the Strait of Hormuz stayed largely closed, constraining energy markets and keeping oil prices elevated. Economic data continued to show a resilient U.S. economy, with moderate growth, stable labor markets, and inflation remaining above the Federal Reserve’s (Fed's) target. Core Personal Consumption Expenditures (PCE) inflation increased to 3.3% year-over-year in April, supported in part by rising technology-related prices as demand for AI infrastructure continued to outpace supply. While we continue to expect that cooling income growth and slower job growth should eventually support further disinflation, we acknowledge that resilient economic growth and a labor market that remains close to equilibrium could cause inflation to remain higher in the near term.
The Secured Overnight Financing Rate (SOFR) – a measure of the overnight secured borrowing rate in the U.S. – ended the month at 3.63%. At month-end, the three-month term SOFR rate was 3.66%, and the three-month U.S. Treasury bill closed at 3.68%.
Looking ahead, the primary risk remains the evolution of the Middle East conflict. Persistently elevated energy prices could place additional upward pressure on inflation while weighing on consumer spending and economic growth. We maintain a long duration position, although modestly trimmed from April levels, reflecting our view that the next move in policy rates will be lower, even if the timing is delayed.
Fund Holdings as of May 31, 2026
Fund Holdings as of April 30, 2026
Fund Holdings as of March 31, 2026
Fund Holdings as of February 27, 2026
Fund Holdings as of January 31, 2026
Fund Holdings as of December 31, 2025
Fund Holdings as of November 30, 2025
Fund Holdings as of October 31, 2025
Fund Holdings as of September 30, 2025
Fund Holdings August 31, 2025
The minimum initial investment may be modified for certain financial intermediaries that submit trades on behalf of underlying investors. Payden Funds’ distributor may lower or waive the minimum initial investment for certain categories of investors at their discretion.
For more information and to obtain a prospectus or summary prospectus, select this link or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses, and other important information, which is contained in these documents; read the prospectus carefully before investing. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.
General Risk Disclosures
Money Market Fund Risk: An investment in the money market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
1.51%
PerformanceD
Total ReturnsE
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-End (03/31/2026) | 0.86% | 3.93% | 4.60% | 3.23% | 2.08% | 2.14% |
| Month-End (05/31/2026) | 1.43% | 3.80% | 4.53% | 3.35% | 2.13% | 2.15% |
Returns less than one year are not annualized. All returns are net of fees.
DividendsG
Dividend
$0.0028
Dividend Reinvest NAV
$1.00
Record Date
05/29/2026
Ex Date
05/29/2026
Payable Date
05/29/2026
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Fund Inception Date
12/17/1997
Share Class Inception Date
12/17/1997
Share Class
Investor Class
Ticker
PBHXX
CUSIP
704329598
Fund Total Net Assets
As of 05/31/2026
$339.4 Million
Sales Charge
None
Benchmark
Lipper U.S. Govt Money Market Funds
Money Market – Appropriate for investors who require maximum portfolio liquidity and stability of principal.
The Payden Cash Reserves Money Market Fund seeks to provide current income and daily liquidity while maintaining a stable share price of $1.00. The Fund invests at least 99.5% of its total assets in cash, U.S. government debt securities and repurchase agreements that are fully collateralized by cash or U.S. government securities. It may invest up to 0.5% of its total assets in bank, corporate, mortgage-backed, and asset-backed debt securities of U.S. and foreign issuers.
Low annual expense ratio.F
Seeks to maintain a stable share price of $1.00.
Investment MinimumH
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250