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NAV / Daily Prices
NAV ($)
9.51
NAV Change ($)
0.00
Change %
0.00%
MTD Return
-0.20%
YTD Return
Statistics
30-Day SEC YieldA
3.38%
30-Day SEC Yield (Unsubsidized)B
3.35%
Average Maturity
1.43 Years
Effective DurationC
0.83 Years
Expenses
Total Fund Operating Expenses
0.71%D
With Expense Cap
0.55%
| Total Returns | Month-End (02/28/2026) | Quarter-End (12/31/2025) |
| YTD | 0.77% | 4.73% |
| 1 Year | 4.75% | 4.73% |
| 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 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.
| - |
| - |
| 5 Year | - | - |
| 10 Year | - | - |
| Since Inception | 5.03% | 5.04% |
*From inception 11/30/2023 through 31/12/2023.
DividendsH
Dividend
$0.0303
Dividend Reinvest NAV
$9.55
Record Date
02/27/2026
Ex Date
02/27/2026
Payable Date
02/27/2026
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 02/28/2026
$2.1 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 02/28/2026
Data as of 02/28/2026
U.S. interest rates moved lower during February amid heightened geopolitical tensions and increased volatility in equity markets, prompting increased demand for U.S. Treasuries as investors sought higher-quality assets. The 10-year U.S. Treasury yield declined below the 4% level, while 2-year yields fell to approximately 3.37%, reflecting market expectations for two to three 25-basis-point rate cuts. Although there was no Federal Reserve (Fed) meeting during the month, commentary surrounding newly nominated Fed Chair Kevin Warsh generated discussion regarding future monetary policy direction, balance sheet management, and leadership style.
The Secured Overnight Financing Rate (SOFR) – a measure of the overnight secured borrowing rate in the U.S. – ended the month unchanged from January, closing at 3.68%. At month-end, the 3-month term SOFR rate was 3.67%, and the 3-month U.S. Treasury bill closed at 3.66%.
Credit markets adopted a more cautious tone. Despite the risk-off backdrop, issuance in both investment-grade corporate and securitized sectors remained robust, with new supply generally well absorbed. Investment-grade corporate bond yields above similar-maturity U.S. Treasuries rose modestly but remain near the lower end of their five- and ten-year historical ranges. High-quality securitized sectors exhibited similar characteristics. One area of relative weakness was the lower-rated segments of the collateralized loan obligation (CLO) market, where risk premiums increased amid investor scrutiny of loan collateral concentrated in software and technology-related businesses facing uncertainty from evolving artificial intelligence (AI) dynamics. We continue to monitor the potential impact of AI-related disruption across industries and its implications for credit fundamentals. Our exposure remains focused on the most senior, highest-quality segments of the securitized market.
With credit risk premiums still low by historical standards, we remain disciplined in issuer selection and risk management. Portfolios remain positioned modestly long relative to their benchmarks, reflecting our expectation that softer employment conditions and continued progress on inflation may support lower interest rates over time. While maintaining exposure to corporate and securitized sectors, we remain selective, focused on preserving capital and capturing income in a market influenced by rapidly evolving macroeconomic and technological narratives.
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.
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.
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.
0.57%
70432T784
Fund Total Net Assets
As of 02/28/2026
$2.1 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 (02/28/2026) | 0.77% | 4.75% | - | - | - | 5.03% |
| Quarter-End (12/31/2025) | 4.73% | 4.73% | - | - | - | 5.04% |
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
66%
1-3 yrs
33%
3-5 yrs
1%
Credit
Percent of Portfolio
AAA
40%
AA
24%
A
19%
BBB
11%
BB
4%
Unrated
2%
Sector
Percent of Portfolio
Corporates
38%
Asset-Backed
26%
Mortgage-Backed
22%
Money Markets
11%
Government/Gov't Related
3%