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NAV / Daily Prices
NAV ($)
9.28
NAV Change ($)
0.00
Change %
0.00%
MTD Return
-0.11%
YTD Return
Statistics
30-Day SEC YieldA
5.67%
30-Day SEC Yield (Unsubsidized)B
5.36%
Average Maturity
5.14 Years
Effective DurationC
1.16 Years
Expenses
Total Fund Operating Expenses
0.79%D
With Expense Cap
0.48%
| Total ReturnsF | Month-End (05/31/2026) | Quarter-End (03/31/2026) |
| YTD | 0.92% | -0.62% |
| 1 Year | 4.88% | 3.96% |
| 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. Payden & Rygel has contractually agreed to limit Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement to 0.47%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.47% 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.
Credit
Percent of Portfolio
AAA
13%
AA
4%
A
6%
BBB
30%
BB and Below
35%
Unrated
12%
Sector
Percent of Portfolio
CMBS
19%
High Yield
19%
Emerging Markets
18%
Mortgage-Backed Securities
14%
Bank Loans
13%
Asset-Backed Securities
11%
Investment Grade Corporates
4%
Other
2%
| 6.03% |
| 5.64% |
| 5 Years | 3.67% | 3.53% |
| 10 Years | 3.55% | 3.51% |
| Since Inception | 3.29% | 3.20% |
| Returns less than one year are not annualized. All returns are net of fees. |
DividendsG
Dividend
$0.0513
Dividend Reinvest NAV
$9.28
Record Date
05/27/2026
Ex Date
05/28/2026
Payable Date
05/28/2026
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
11/06/2014
Share Class
SI Class
Ticker
PYAIX
CUSIP
70432T305
Fund Total Net Assets
As of 05/31/2026
$613.5 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 05/31/2026
Data as of 05/31/2026
Markets navigated a volatile but ultimately constructive environment in May, driven largely by developments surrounding U.S.–Iran negotiations and their implications for energy prices and inflation. Early optimism around a potential agreement helped push oil prices lower and supported risk assets, while a subsequent deterioration in negotiations, coupled with a stronger-than-expected U.S. inflation report, renewed concerns about persistent inflation and a higher-for-longer policy environment. Government bond yields rose sharply during the month, with the 30-year U.S. Treasury yield briefly surpassing 5.1%, while German and Japanese government bond yields reached multi-year highs. By month-end, renewed optimism around diplomatic progress helped stabilize markets, with U.S. Treasury yields retracing part of their increase and equities rallying, led by technology and AI-related companies. Economic data continued to point to moderate but resilient growth, with underlying U.S. economic activity expanding 2.5% year-over-year in the first quarter, stable labor market conditions, and inflation remaining above target, reinforcing expectations that the Federal Reserve will remain on hold as it awaits clearer evidence of disinflation.
Looking ahead, the backdrop remains path-dependent, with economic resilience and firm inflation sustaining a more restrictive policy bias amid unresolved risks. U.S. data continues to surprise to the upside across consumption, manufacturing, labor markets, and earnings, while inflation may become more volatile given higher commodity prices and ongoing geopolitical uncertainty. As a result, central banks have shifted from an easing bias toward a pause, and in some cases renewed tightening, across regions including Europe and Australia. Markets have reflected this shift unevenly: interest rates remain elevated, while credit valuations have largely recovered from the conflict-driven decline despite firm oil prices and persistent geopolitical risks. With bond yields and credit markets still tending to move together, we believe investors should be measured in their interest rate exposure and focus on higher-quality, carefully selected credit opportunities. More broadly, diverging policy paths, inflation dynamics, and valuations across regions continue to create attractive investment opportunities, reinforcing the importance of selective, valuation-driven positioning.
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.
0.81%
DividendsG
Dividend
$0.0513
Dividend Reinvest NAV
$9.28
Record Date
05/27/2026
Ex Date
05/28/2026
Payable Date
05/28/2026
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
70432T305
Fund Total Net Assets
As of 05/31/2026
$613.5 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 (05/31/2026) | 0.92% | 4.88% | 6.03% | 3.67% | 3.55% | 3.29% |
| Quarter-End (03/31/2026) | -0.62% | 3.96% | 5.64% | 3.53% | 3.51% | 3.20% |
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
14%
1-3 yrs
88%
3-5 yrs
-1%
5-7 yrs
10%
7+ yrs
-11%
Credit
Percent of Portfolio
AAA
13%
AA
4%
A
6%
BBB
30%
BB and Below
35%
Unrated
12%
Sector
Percent of Portfolio
CMBS
19%
High Yield
19%
Emerging Markets
18%
Mortgage-Backed Securities
14%
Bank Loans
13%
Asset-Backed Securities
11%
Investment Grade Corporates
4%
Other
2%