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NAV / Daily Prices
NAV ($)
9.73
NAV Change ($)
-0.04
Change %
-0.41%
MTD Return
-1.02%
YTD Return
Statistics
30-Day SEC YieldA
4.59%
30-Day SEC Yield (Unsubsidized)B
4.57%
Average Maturity
10.98 Years
Effective DurationC
7.07 Years
Expenses
Total Fund Operating Expenses
0.91%D
| Total ReturnsF | Month-End (04/30/2026) | Quarter-End (03/31/2026) |
| YTD | -0.40% | -0.97% |
| 1 Year | 4.92% | 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 and a Rule 12b-1 Distribution Fee of 0.25%.
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.
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.
Duration
Percent of Portfolio
0-1 yr
6%
1-3 yrs
20%
3-5 yrs
19%
5-7 yrs
17%
7-10 yrs
12%
10+ yrs
Credit
Percent of Portfolio
AAA
13%
AA
10%
A
31%
BBB
38%
BB
6%
B
26%
1%
Unrated
1%
Sector
Percent of Portfolio
Industrials
37%
Financial Institutions
35%
Mortgage-Backed
12%
Utilities
8%
Asset-Backed
4%
Other
4%
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 6.18% | 6.14% |
| 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
$0.0362
Dividend Reinvest NAV
$9.82
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
03/12/2009
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYAYX
CUSIP
70432T834
Fund Total Net Assets
As of 04/30/2026
$383.8 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Corporate Bond Index
Appropriate as a fixed-income holding for investors seeking a dedicated corporate bond strategy.
The Payden Corporate Bond Fund’s strategy is to purchase investment-grade corporate bonds of companies that have leading market positions, strong cash flow generation, stable management teams and predictable earnings. The strategy’s focus is on bottom-up credit selection with an emphasis placed on adding issues with a near-term catalyst to outperform. Our credit research process looks to capitalize on opportunities in the corporate bond market across sectors and maturities; including the early identification of potential rising stars - companies that we believe will be upgraded to investment grade in the near term. A forward-looking approach is taken to credit analysis. A priority is placed on assessing a company’s future trajectory and the corresponding risk and opportunities for bondholders under various scenarios. Up to 20% of fund assets may be below investment grade.
The Fund is a well-diversified portfolio of U.S. dollar investment-grade corporate securities backed by extensive in-house credit research.
It invests in credits across the full maturity spectrum and its duration and curve positioning are actively managed.
The Fund has the flexibility to opportunistically invest in below investment-grade securities and emerging-market debt.
No loads (other fees apply).
Data as of 04/30/2026
Data as of 04/30/2026
In April, data showed that U.S. economic activity continues to be resilient, the labor market has stabilized, and inflation remains elevated. Given a backdrop of above-target inflation and resilient economic activity, the Federal Reserve (Fed) held the federal funds rate at 3.75% for the month. U.S. Treasury yields continued to move higher, with the 2-year yield rising 0.08% to 3.88%, while the 10-year yield rose by 0.05% to 4.37%. Corporate bond yields compared to similar-maturity U.S. Treasuries rose 0.05% to 0.89% for the 1- to 30-year maturities. As a result, the overall yield on 1- to 30-year corporate bonds rose 0.41% to 5.14%.
Corporate yields over similar-maturity U.S. Treasuries have remained resilient as high overall yields continue to drive demand. Across the 1- to 30-year maturity spectrum, yields fell 0.11% to 0.78%. As a result, the overall yield on 1- to 30-year corporate bonds remained flat at 5.14%.
Companies issued $184 billion of new corporate bonds in April, bringing year-to-date issuance to $830 billion, up 29% year-over-year.
During the month, the Fund continued to selectively participate in the new issue calendar, adding credits across the energy and transportation sectors, while also increasing exposure to securitized assets and high-yield bonds. At the same time, it reduced exposure to relatively expensive credits in various sectors, such as technology and capital goods. Duration remains modestly long relative to the benchmark.
Corporate bonds posted a strong recovery in April, retracing much of the weakness they saw in March. Demand for investment-grade credit remains strong, supported by high all-in corporate yields. Additionally, we have seen a strong start to the first-quarter earnings season, which has increased investor confidence in the outlook for underlying fundamentals. Investors also continue to absorb elevated levels of new corporate bond issuance, including financing tied to the growing capital expenditure needs of large technology companies investing heavily in AI and cloud infrastructure.
Given this constructive market tone, we believe corporate bonds can continue to perform well in the coming quarters, with potential for even stronger performance if the Middle East conflict de-escalates in the near future. However, if the conflict persists, downside risks could emerge as oil prices weigh on the consumer and the inflation outlook. Careful credit selection remains key, as we expect to see greater dispersion across sectors and individual credits going forward.
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.
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
Interest Rate Risk: As with most funds that invest in debt securities, the income on and value of your shares in the Fund will fluctuate along with interest rates. When interest rates rise, the market prices of the debt securities the Fund owns usually decline. When interest rates fall, the prices of these securities usually increase.
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.
-1.41%
70432T834
Fund Total Net Assets
As of 04/30/2026
$383.8 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Corporate Bond Index
Appropriate as a fixed-income holding for investors seeking a dedicated corporate bond strategy.
The Payden Corporate Bond Fund’s strategy is to purchase investment-grade corporate bonds of companies that have leading market positions, strong cash flow generation, stable management teams and predictable earnings. The strategy’s focus is on bottom-up credit selection with an emphasis placed on adding issues with a near-term catalyst to outperform. Our credit research process looks to capitalize on opportunities in the corporate bond market across sectors and maturities; including the early identification of potential rising stars - companies that we believe will be upgraded to investment grade in the near term. A forward-looking approach is taken to credit analysis. A priority is placed on assessing a company’s future trajectory and the corresponding risk and opportunities for bondholders under various scenarios. Up to 20% of fund assets may be below investment grade.
The Fund is a well-diversified portfolio of U.S. dollar investment-grade corporate securities backed by extensive in-house credit research.
It invests in credits across the full maturity spectrum and its duration and curve positioning are actively managed.
The Fund has the flexibility to opportunistically invest in below investment-grade securities and emerging-market debt.
No loads (other fees apply).
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Month-End (04/30/2026) | -0.40% | 4.92% | - | - | - | 6.18% |
| Quarter-End (03/31/2026) | -0.97% | 3.96% | - | - | - | 6.14% |
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
6%
1-3 yrs
20%
3-5 yrs
19%
5-7 yrs
17%
7-10 yrs
12%
10+ yrs
26%
Credit
Percent of Portfolio
AAA
13%
AA
10%
A
31%
BBB
38%
BB
6%
B
1%
Unrated
1%
Sector
Percent of Portfolio
Industrials
37%
Financial Institutions
35%
Mortgage-Backed
12%
Utilities
8%
Asset-Backed
4%
Other
4%