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NAV / Daily Prices
NAV ($)
9.75
NAV Change ($)
0.01
Change %
0.10%
MTD Return
-0.09%
YTD Return
Statistics
30-Day SEC YieldA
4.71%
30-Day SEC Yield (Unsubsidized)B
4.56%
Average Maturity
2.24 Years
Effective DurationC
2.35 Years
Expenses
Total Fund Operating Expenses
0.54%D
With Expense Cap
0.43%
| Total ReturnsF | Quarter-End (03/31/2026) | Month-End (05/31/2026) |
| YTD | 0.17% | 0.62% |
| 1 Year | 4.11% | 3.91% |
| 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.
Payden & Rygel has contractually agreed to limit Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement to 0.43%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.43% expense level does not include Acquired Fund Fees and Expenses, interest, taxes, and extraordinary 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.
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.
| 4.91% |
| 4.97% |
| 5 Years | 2.52% | 2.54% |
| 10 Years | 2.38% | 2.38% |
| Since Inception | 3.43% | 3.43% |
| Returns less than one year are not annualized. All returns are net of fees. |
DividendsG
Dividend
$0.0374
Dividend Reinvest NAV
$9.77
Record Date
05/29/2026
Ex Date
05/29/2026
Payable Date
05/29/2026
Dividends Paid
Monthly, with Daily Accural
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
12/31/1993
Share Class Inception Date
12/31/1993
Share Class
Investor Class
Ticker
PYSBX
CUSIP
704329200
Fund Total Net Assets
As of 05/31/2026
$782.3 Million
Sales Charge
None
Benchmark
ICE BofA 1-3 Year U.S. Treasury Index
Appropriate for investors who desire a high average credit quality and potential for returns greater than cash alternatives, with some fluctuation in net asset value (NAV).
The Payden Low Duration Fund seeks income and capital appreciation while avoiding the volatility of longer-maturity bond funds. The Fund is primarily comprised of U.S. government securities, investment-grade and high-yield corporate bonds, mortgage- and asset-backed securities. Under normal market conditions, the Fund’s maximum average portfolio maturity (on a dollar-weighted basis) is four years. The Fund will hold a minimum of 75% in investment-grade securities.
Invests primarily in short-term, fixed-income securities with a minimum of 75% rated investment grade.
Primarily comprised of U.S. government securities, investment-grade and high-yield corporate bonds, mortgage- and asset-backed securities.
Incorporates active duration, curve, and currency exposure management.
No loads (other fees apply).
Data as of 05/31/2026
Data as of 05/31/2026
Geopolitics remained center stage during May. While a fragile ceasefire between Israel and Iran remained in effect, the Strait of Hormuz stayed largely closed, constraining global energy markets and keeping oil prices elevated. Economic data continued to show a resilient U.S. economy, with moderate growth, stable labor markets, and inflation remaining above the Federal Reserve’s (Fed's) target. Core Personal Consumption Expenditures (PCE) inflation increased to 3.3% year-over-year in April, supported in part by rising technology-related prices as demand for AI infrastructure continued to outpace supply. While we continue to expect that cooling income growth and slower job growth should eventually support further disinflation, we acknowledge that resilient economic growth and a labor market that remains close to equilibrium could cause inflation to remain higher in the near term.
Market participants continued to reflect expectations that the Fed may need to increase policy rates to dampen inflation. This contrasted with the anticipated rate cuts that had been priced into markets prior to the Middle East conflict. As a result, the 2-year U.S. Treasury yield rose 14 basis points (bps) to 4.0%, while the 10-year U.S. Treasury yield increased 6 bps to 4.44%. Credit markets remained resilient despite higher rates. Risk premiums continued to recover from March and approached levels seen earlier in the year. Heavy issuance across both corporate and securitized sectors was met with strong investor demand, allowing borrowers to access capital with minimal concessions.
Looking ahead, the primary risk remains the evolution of the Middle East conflict. Persistently elevated energy prices could place additional upward pressure on inflation while weighing on consumer spending and economic growth.
We maintain a long duration position, although modestly trimmed from April levels, reflecting our view that the next move in policy rates will be lower, even if the timing is delayed. On the credit market side, we remain constructive that a stable economy should prove supportive. We continue to selectively and incrementally add exposure in securitized sectors where structural protections remain strong, and yield premiums remain attractive. Our focus remains on improving income potential while prudently managing risk.
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.
0.52%
DividendsG
Dividend
$0.0374
Dividend Reinvest NAV
$9.77
Record Date
05/29/2026
Ex Date
05/29/2026
Payable Date
05/29/2026
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
704329200
Fund Total Net Assets
As of 05/31/2026
$782.3 Million
Sales Charge
None
Benchmark
ICE BofA 1-3 Year U.S. Treasury Index
Appropriate for investors who desire a high average credit quality and potential for returns greater than cash alternatives, with some fluctuation in net asset value (NAV).
The Payden Low Duration Fund seeks income and capital appreciation while avoiding the volatility of longer-maturity bond funds. The Fund is primarily comprised of U.S. government securities, investment-grade and high-yield corporate bonds, mortgage- and asset-backed securities. Under normal market conditions, the Fund’s maximum average portfolio maturity (on a dollar-weighted basis) is four years. The Fund will hold a minimum of 75% in investment-grade securities.
Invests primarily in short-term, fixed-income securities with a minimum of 75% rated investment grade.
Primarily comprised of U.S. government securities, investment-grade and high-yield corporate bonds, mortgage- and asset-backed securities.
Incorporates active duration, curve, and currency exposure management.
No loads (other fees apply).
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-End (03/31/2026) | 0.17% | 4.11% | 4.91% | 2.52% | 2.38% | 3.43% |
| Month-End (05/31/2026) | 0.62% | 3.91% | 4.97% | 2.54% | 2.38% | 3.43% |
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
Credit
Percent of Portfolio
AAA
20%
AA
29%
A
18%
BBB
17%
BB
6%
Unrated
10%
Sector
Percent of Portfolio
Corporates
33%
Mortgage-Backed
24%
Government/Gov't Related
22%
Asset-Backed
19%
Municipal Bonds
2%