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NAV / Daily Prices
NAV ($)
9.55
NAV Change ($)
0.00
Change %
0.00%
MTD Return
0.32%
YTD Return
Statistics
30-Day SEC YieldA
6.05%
30-Day SEC Yield (Unsubsidized)B
5.68%
Average Maturity
4.97 Years
Effective DurationC
0.31 Years
Expenses
Total Fund Operating Expenses
1.26%D
With Expense Cap
0.96%
| Total Returns | Month-End (02/28/2026) | Quarter-End (12/31/2025) |
| YTD | -0.49% | 6.56% |
| 1 Year | 5.10% | 6.56% |
| 3 Year |
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
2%
BBB
5%
BB
41%
B
49%
CCC
2%
Unrated
Top-10 Holdings
Percent of Portfolio
FR BR Holdings LLC
1.3%
PAC Aviation International
1.3%
Flynn Restaurant
1.1%
Pitney Bowes Credit Union
1.1%
Quikrete
1.1%
EP Wealth Advisors
1.1%
Athenahealth
1.0%
1%
Golden Nugget
1.0%
Argos Merger
0.9%
TK Elevator
0.9%
| - |
| - |
| 5 Year | - | - |
| 10 Year | - | - |
| Since Inception | 7.20% | 8.03% |
*From inception 11/30/2023 through 31/12/2023.
DividendsG
Dividend
$0.0445
Dividend Reinvest NAV
$9.53
Record Date
02/25/2026
Ex Date
02/26/2026
Payable Date
02/26/2026
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
11/11/2013
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYBLX
CUSIP
70432T768
Fund Total Net Assets
As of 02/28/2026
$132.5 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Leveraged Loan Index
High-Yield Loans – Appropriate for investors who seek higher yields but do not want significant exposure to interest rate risk. Loans can be used as a hedge against rising interest rates in fixed-income portfolios as they are historically negatively correlated with U.S. Treasuries.
The Payden Floating Rate Fund’s investment objective is to seek a high level of current income through floating-rate debt instruments, with a secondary objective of long-term capital appreciation. At least 80% of fund assets will be floating rate. The Fund generally invests in the higher-quality segment of the market and looks for companies with good growth prospects, superior products, and strong management teams.
High-yield loan focus. Opportunistic exposure to short-term high-yield corporates.
Payden primarily focuses on the higher quality end of the high-yield loan market. We believe that the risk-return profile of BB and high single-B rated loans is superior to that of lower-rated loans.
Due to the size of the Fund, we can buy the loans we want and get meaningful new issuance allocations, which is difficult for funds with assets above $1 billion.
The primary risk to the Fund is a downturn in the economy.
Data as of 02/28/2026
Data as of 02/28/2026
The Bloomberg U.S. Leveraged Loan Index returned -0.86% for the month. In contrast, high-yield bonds returned +0.13%, while high-grade bonds returned +1.23%.
Loan issuance during the month was $31 billion ($9 billion net of refinancing and repricing). Year-to-date, loan issuance totals $188 billion ($37 billion net of refinancing and repricing).
The loan default rate was 2.8% (including distressed exchanges) in February.
Loan issuers are more leveraged than their high-yield bond counterparts. While positive economic conditions are favorable for the asset class, loans are also more sensitive to any deceleration in growth.
Compared with bonds, loans are more heavily weighted toward the technology sector, which we believe is likely to drive incremental volatility in 2026.
Valuations in loans are optically more attractive than in bonds; however, we believe that the relative yield advantage in loans can largely be explained by the lower-quality composition of the asset class overall. Security selection will be crucial in 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.
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, click on the respective link below the Fund name at the top of this page, or call 800 572-9336. Before investing, investors should carefully read and consider investment objectives, risks, charges, expenses, and other important information about the Fund, which is contained in these documents. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.
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.
-0.17%
70432T768
Fund Total Net Assets
As of 02/28/2026
$132.5 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Leveraged Loan Index
High-Yield Loans – Appropriate for investors who seek higher yields but do not want significant exposure to interest rate risk. Loans can be used as a hedge against rising interest rates in fixed-income portfolios as they are historically negatively correlated with U.S. Treasuries.
The Payden Floating Rate Fund’s investment objective is to seek a high level of current income through floating-rate debt instruments, with a secondary objective of long-term capital appreciation. At least 80% of fund assets will be floating rate. The Fund generally invests in the higher-quality segment of the market and looks for companies with good growth prospects, superior products, and strong management teams.
High-yield loan focus. Opportunistic exposure to short-term high-yield corporates.
Payden primarily focuses on the higher quality end of the high-yield loan market. We believe that the risk-return profile of BB and high single-B rated loans is superior to that of lower-rated loans.
Due to the size of the Fund, we can buy the loans we want and get meaningful new issuance allocations, which is difficult for funds with assets above $1 billion.
The primary risk to the Fund is a downturn in the economy.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Month-End (02/28/2026) | -0.49% | 5.10% | - | - | - | 7.20% |
| Quarter-End (12/31/2025) | 6.56% | 6.56% | - | - | - | 8.03% |
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
Credit
Percent of Portfolio
AAA
2%
BBB
5%
BB
41%
B
49%
CCC
2%
Unrated
1%
Asset Type
Percent of Portfolio
Bank Loans
88%
Corporate Bonds
8%
Cash
2%
Other
1%
Asset Backed Securities
1%
Top-10 Holdings
Percent of Portfolio
FR BR Holdings LLC
1.3%
PAC Aviation International
1.3%
Flynn Restaurant
1.1%
Pitney Bowes Credit Union
1.1%
Quikrete
1.1%
EP Wealth Advisors
1.1%
Athenahealth
1.0%
Golden Nugget
1.0%
Argos Merger
0.9%
TK Elevator
0.9%