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NAV / Daily Prices
NAV ($)
9.30
NAV Change ($)
-0.01
Change %
-0.11%
MTD Return
0.00%
YTD Return
Statistics
30-Day SEC YieldA
3.64%
30-Day SEC Yield (Unsubsidized)B
4.91%
Average Maturity
4.99 Years
Effective DurationC
1.88 Years
Expenses
Total Fund Operating Expenses
1.03%D
With Expense Cap
0.96%
| Total ReturnsF | Month-End (04/30/2026) | Quarter-End (03/31/2026) |
| YTD | 0.31% | -0.74% |
| 1 Year | 4.11% | 3.58% |
| 3 Years |
The 30-day SEC yield represents the dividends and interest earned for a 30-day period, annualized, and divided by the net asset values per share at the end of the period. The SEC yield is computed under a standardized formula which assumes all portfolio securities are held to maturity. This value may differ from the actual distribution rate of the Fund.
Represents a 30-day SEC yield without adjusting for fee waivers or expense reimbursements.
Effective duration is a measure of the Fund’s price sensitivity to changes in interest rates.
Total Annual Fund Operating Expenses include all direct operating expenses of the Fund, as well as 0.01% Acquired Fund Fees and Expenses incurred indirectly by the Fund through its investment in other mutual funds and a Rule 12b-1 Distribution Fee of 0.25%. Payden & Rygel has contractually agreed to limit Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement to 0.70%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.96% Expense Cap includes the 0.70% expense, the 0.25% 12b-1 Distribution Fees, and the 0.01% Acquired Fund Fees and 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.
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
7%
BBB
29%
BB and Below
35%
Unrated
11%
Sector
Percent of Portfolio
Emerging Markets
20%
High Yield
18%
CMBS
16%
Mortgage-Backed Securities
15%
Bank Loans
12%
Asset-Backed Securities
12%
Investment Grade Corporates
4%
Gov't Related
3%
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 5.72% | 5.45% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 11/30/2023 through 12/31/2023.
DividendsG
Dividend
$0.0172
Dividend Reinvest NAV
$9.29
Record Date
04/28/2026
Ex Date
04/29/2026
Payable Date
04/29/2026
Dividends Paid
Monthly
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
$100,000
Adviser Class - Regular Account
$5,000
SI Class
$10,000,000
Investor Class - IRA Account
$100,000
Adviser Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Fund Inception Date
11/06/2014
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYABX
CUSIP
70432T792
Fund Total Net Assets
As of 04/30/2026
$613.6 Million
Sales Charge
None
Benchmark
ICE U.S. 1-Month Treasury Bill Index
Absolute Return – appropriate for investors seeking steady returns, limited downside and reduced correlations with traditional asset classes. Not intended to outperform stocks and bonds during strong market rallies.
The Payden Absolute Return Bond Fund's strategy seeks to have positive absolute returns over the long term, regardless of different market environments. To achieve this goal, the Fund seeks to provide total return, whether through price appreciation, or income, or a combination of both. It seeks opportunities by employing a flexible approach that evaluates security attractiveness globally, both inside and outside the U.S. A special emphasis is placed on risk management seeking to mitigate potential downside.
Seeks to have positive absolute returns over the long term, regardless of different market environments.
Utilizes all sectors of the fixed-income market.
Portfolio is structured with relatively low interest rate sensitivity.
The Fund may not achieve its goals if the economy weakens.
Data as of 04/30/2026
Data as of 04/30/2026
April was characterized by continued U.S. economic resilience alongside persistently elevated inflation, reinforcing a more restrictive global policy backdrop. First-quarter GDP expanded at a 2% annualized pace, supported in large part by ongoing strength in technology-related investment, while the labor market remained stable with unemployment holding near 4.3%. Limited labor force growth continues to mask underlying softness in job creation, suggesting equilibrium rather than strength. Inflation remains the key challenge, with core personal consumption expenditures (PCE) rising to 3.2% year-over-year and ongoing pressure from elevated commodity prices, particularly oil, amid geopolitical tensions. In response, the Federal Reserve (Fed) held rates steady at 3.75%, signaling a prolonged pause. Markets adjusted to this "higher-for-longer" dynamic: front-end U.S. Treasury yields remained elevated, longer-end yields drifted higher with inflation uncertainty, and yield curves stayed relatively flat. Risk assets proved resilient, with equities advancing modestly on strong earnings, particularly in technology, while credit risk premiums retraced much of their earlier widening despite the more uncertain macroeconomic backdrop.
Looking ahead, the environment remains highly path-dependent, with resilient growth and sticky inflation keeping central banks on hold for the foreseeable future. We expect the Fed to maintain its current policy stance through most of 2026, with the potential to resume easing only as inflation begins to moderate later in the year. In the near term, elevated commodity prices and geopolitical uncertainty may continue to drive inflation volatility, limiting the scope for policy easing and keeping rates higher for longer. Against this backdrop, we maintain a preference for interest rate exposure over credit, given more attractive valuations and improved defensive characteristics. At the same time, increased dispersion across regions and sectors is creating a broader opportunity set, particularly in emerging markets and select securitized assets where fundamentals remain supportive. Overall, the strategy remains focused on balancing income generation with a cushion during market declines, maintaining flexibility to adjust positioning as macroeconomic conditions evolve and more attractive entry points emerge.
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.
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.
Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest) and are subject to change. Security ratings are assigned using the highest rating of Moody’s, S&P, and Fitch. If a security is unrated by Moody’s, S&P, and Fitch, then we use the rating from other nationally recognized statistical ratings organizations (NRSROs).
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
Foreign Securities Risk: Investment in foreign securities entails certain risks from investing in domestic securities, including changes in exchange rates, political changes, differences in reporting standards, and, for emerging-market securities, higher volatility.
High-Yield Securities Risk: Investment in high-yield securities entails certain risks from investing in investment-grade securities, including higher volatility, greater credit risk, and the issues’ more speculative nature.
0.31%
70432T792
Fund Total Net Assets
As of 04/30/2026
$613.6 Million
Sales Charge
None
Benchmark
ICE U.S. 1-Month Treasury Bill Index
Absolute Return – appropriate for investors seeking steady returns, limited downside and reduced correlations with traditional asset classes. Not intended to outperform stocks and bonds during strong market rallies.
The Payden Absolute Return Bond Fund's strategy seeks to have positive absolute returns over the long term, regardless of different market environments. To achieve this goal, the Fund seeks to provide total return, whether through price appreciation, or income, or a combination of both. It seeks opportunities by employing a flexible approach that evaluates security attractiveness globally, both inside and outside the U.S. A special emphasis is placed on risk management seeking to mitigate potential downside.
Seeks to have positive absolute returns over the long term, regardless of different market environments.
Utilizes all sectors of the fixed-income market.
Portfolio is structured with relatively low interest rate sensitivity.
The Fund may not achieve its goals if the economy weakens.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Month-End (04/30/2026) | 0.31% | 4.11% | - | - | - | 5.72% |
| Quarter-End (03/31/2026) | -0.74% | 3.58% | - | - | - | 5.45% |
Investment MinimumH
Investor Class - Regular Account
$100,000
Adviser Class - Regular Account
$5,000
SI Class
$10,000,000
Investor Class - IRA Account
$100,000
Adviser Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Duration
Percent of Portfolio
0-1 yr
10%
1-3 yrs
84%
3-5 yrs
4%
5-7 yrs
11%
7+ yrs
-9%
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
7%
BBB
29%
BB and Below
35%
Unrated
11%
Sector
Percent of Portfolio
Emerging Markets
20%
High Yield
18%
CMBS
16%
Mortgage-Backed Securities
15%
Bank Loans
12%
Asset-Backed Securities
12%
Investment Grade Corporates
4%
Gov't Related
3%