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NAV / Daily Prices
NAV ($)
9.51
NAV Change ($)
0.00
Change %
0.00%
MTD Return
0.11%
YTD Return
Statistics
30-Day SEC YieldA
3.79%
30-Day SEC Yield (Unsubsidized)B
3.60%
Average Maturity
1.61 Years
Effective DurationC
0.80 Years
Expenses
Total Fund Operating Expenses
0.71%D
With Expense Cap
0.55%
| Total ReturnsF | Month-End (03/31/2026) | Quarter-End (03/31/2026) |
| YTD | 0.70% | 0.70% |
| 1 Year | 4.30% | 4.30% |
| 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 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 0.30%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.55% Expense Cap includes the 0.30% expense and the 0.25% 12b-1 Distribution Fees.
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.
Sector
Percent of Portfolio
Corporates
36%
Asset-Backed
25%
Mortgage-Backed
21%
Money Markets
15%
Government/Gov't Related
3%
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 4.81% | 4.81% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 11/30/2023 through 12/31/2023.
DividendsH
Dividend
None
Dividend Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Dividends Paid
Monthly, with Daily Accural
Capital GainsH
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
04/29/1994
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYLBX
CUSIP
70432T784
Fund Total Net Assets
As of 03/31/2026
$2.2 Billion
Sales Charge
None
Benchmark
ICE BofA U.S. 3-Month Treasury Bill Index
Ultra Short-Term Bond – Appropriate for investors who desire yields greater than money market funds while maintaining a high degree of liquidity, but can tolerate fluctuations in the net asset value (NAV).
The Payden Limited Maturity Fund seeks to outperform current money market rates by utilizing short-term securities that are primarily investment grade. The Fund is primarily comprised of U.S. government securities, investment-grade corporate bonds, mortgage- and asset-backed securities, and money markets. The maximum average portfolio maturity is two and one-half years.
Invests primarily in high-quality, short-term securities.
No loads (other fees apply).
Seeks to earn a higher yield than a traditional money market fund.G
Data as of 03/31/2026
Data as of 03/31/2026
The U.S. bond market experienced significant volatility and a sharp rise in yields as investors reacted to the escalating war in the Middle East. Oil prices surged from under $70 to over $115 per barrel, with the associated inflationary consequences prompting a repricing of global interest rate expectations over the next 12-18 months. U.S. Treasury yields rose 30-40 basis points (bps) across maturities of two years and longer, briefly reaching close to 50 bps higher at the peaks. However, yields failed to hold those top levels, despite 2- and 3-year U.S. Treasuries breaching 4.0%, as the potential end to hostilities replaced inflation fears with a slowing growth outlook and renewed thoughts of eventual rate cuts. The Federal Reserve met mid-month and kept the federal funds rate unchanged at 3.50%-3.75% amid uncertainty over how the energy supply shock could affect inflation and economic growth.
The Secured Overnight Financing Rate (SOFR) – a measure of the overnight secured borrowing rate in the U.S. – was unchanged from February, closing at 3.68%. At month-end, the 3-month term SOFR rate was 3.68%, and the 3-month U.S. Treasury bill closed at 3.68%.
Credit markets, already dealing with AI (artificial intelligence) disruption anxiety, faced additional headwinds as geopolitical tensions rippled across all sectors. Over the quarter, risk premiums (additional yield above U.S. Treasuries) widened from previously narrow levels. As is typical in periods of market stress, only the highest-quality issuers delivered meaningful returns above U.S. Treasuries, while lower-rated corporates lagged. Securitized product risk premiums widened as well, and having modestly trimmed credit risk earlier in the quarter, we were able to take advantage of the volatility and reinvest in favored issuers at more attractive yields.
Our portfolio management approach during this volatile period has been to stay the course. We are maintaining longer duration positions relative to their respective benchmarks. While we have consistently viewed inflation as less of a concern than softening labor markets, we remain cautious, as a prolonged energy supply shock stemming from the ongoing conflict in the Middle East could disrupt this outlook.
This is not a money market fund. The share price will fluctuate.
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
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.
0.80%
70432T784
Fund Total Net Assets
As of 03/31/2026
$2.2 Billion
Sales Charge
None
Benchmark
ICE BofA U.S. 3-Month Treasury Bill Index
Ultra Short-Term Bond – Appropriate for investors who desire yields greater than money market funds while maintaining a high degree of liquidity, but can tolerate fluctuations in the net asset value (NAV).
The Payden Limited Maturity Fund seeks to outperform current money market rates by utilizing short-term securities that are primarily investment grade. The Fund is primarily comprised of U.S. government securities, investment-grade corporate bonds, mortgage- and asset-backed securities, and money markets. The maximum average portfolio maturity is two and one-half years.
Invests primarily in high-quality, short-term securities.
No loads (other fees apply).
Seeks to earn a higher yield than a traditional money market fund.G
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Month-End (03/31/2026) | 0.70% | 4.30% | - | - | - | 4.81% |
| Quarter-End (03/31/2026) | 0.70% | 4.30% | - | - | - | 4.81% |
Investment MinimumI
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
68%
1-3 yrs
31%
3-5 yrs
1%
Credit
Percent of Portfolio
AAA
40%
AA
26%
A
18%
BBB
11%
BB
4%
Unrated
1%
Sector
Percent of Portfolio
Corporates
36%
Asset-Backed
25%
Mortgage-Backed
21%
Money Markets
15%
Government/Gov't Related
3%