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NAV / Daily Prices
NAV ($)
9.54
NAV Change ($)
0.01
Change %
0.10%
MTD Return
0.10%
YTD Return
Statistics
30-Day SEC YieldA
5.88%
30-Day SEC Yield (Unsubsidized)B
5.62%
Average Maturity
5.08 Years
Effective DurationC
0.27 Years
Expenses
Total Fund Operating Expenses
1.26%D
With Expense Cap
0.96%
| Total ReturnsF | Month-End (05/31/2026) | Quarter-End (03/31/2026) |
| YTD | 1.31% | -0.26% |
| 1 Year | 6.51% | 5.76% |
| 3 Years |
Credit
Percent of Portfolio
AAA
1%
BBB
7%
BB
43%
B
46%
CCC
1%
Unrated
Top-10 Holdings
Percent of Portfolio
FR BR Holdings LLC
1.2%
EP Wealth Advisors
1.1%
Quikrete
1.1%
WarnerMedia
1.1%
TK Elevator
0.9%
Jump Financial LLC
0.9%
Argos Merger
0.9%
2%
Perrigo
0.9%
Focus Financial Partners LLC
0.9%
Athenahealth
0.9%
Asset Type
Percent of Portfolio
Bank Loans
90%
Corporate Bonds
8%
Asset Backed Securities
1%
Cash
1%
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 7.21% | 7.03% |
| 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
$0.0571
Dividend Reinvest NAV
$9.53
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
11/11/2013
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYBLX
CUSIP
70432T768
Fund Total Net Assets
As of 05/31/2026
$136.5 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 05/31/2026
Data as of 05/31/2026
The Bloomberg U.S. Leveraged Loan Index returned +0.57% for the month. In contrast, high-yield bonds returned +0.47%, while investment-grade bonds returned +0.69%.
Loan issuance during the month was $108 billion ($27 billion net of refinancing and repricing). Year-to-date issuance stands at $360 billion ($94 billion net of refinancing and repricing).
The loan default rate was 2.6% (including distressed exchanges) in May.
Loans have outsized exposure to the technology sector relative to bonds, which could drive incremental volatility in the coming quarters.
Loan issuers are more leveraged than their high-yield bond counterparts. While positive economic conditions are favorable for the asset class, loans can be more sensitive to any deceleration in growth.
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. As dispersion increases, more leveraged issuers may come under pressure, reinforcing the importance of security selection.
1.41%
70432T768
Fund Total Net Assets
As of 05/31/2026
$136.5 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 (05/31/2026) | 1.31% | 6.51% | - | - | - | 7.21% |
| Quarter-End (03/31/2026) | -0.26% | 5.76% | - | - | - | 7.03% |
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
1%
BBB
7%
BB
43%
B
46%
CCC
1%
Unrated
2%
Asset Type
Percent of Portfolio
Bank Loans
90%
Corporate Bonds
8%
Asset Backed Securities
1%
Cash
1%
Top-10 Holdings
Percent of Portfolio
FR BR Holdings LLC
1.2%
EP Wealth Advisors
1.1%
Quikrete
1.1%
WarnerMedia
1.1%
TK Elevator
0.9%
Jump Financial LLC
0.9%
Argos Merger
0.9%
Perrigo
0.9%
Focus Financial Partners LLC
0.9%
Athenahealth
0.9%