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NAV / Daily Prices
NAV ($)
9.52
NAV Change ($)
0.01
Change %
0.11%
MTD Return
-0.31%
YTD Return
Statistics
30-Day SEC YieldA
5.49%
Average Maturity
7.44 Years
Effective DurationB
3.77 Years
Expenses
Total Fund Operating Expenses
1.20%C
With Expense Cap
0.91%
| Total ReturnsE | Month-End (05/31/2026) | Quarter-End (03/31/2026) |
| YTD | 0.52% | -0.46% |
| 1 Year | 5.01% | 3.96% |
| 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.
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 0.65%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.91% Expense Cap includes the 0.65% 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.
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.
Credit
Percent of Portfolio
AAA
16%
AA
28%
A
10%
BBB
26%
BB
12%
B
5%
Unrated
3%
Sector
Percent of Portfolio
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 5.69% | 5.66% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 11/30/2023 through 12/31/2023.
DividendsF
Dividend
$0.0464
Dividend Reinvest NAV
$9.54
Record Date
05/27/2026
Ex Date
05/28/2026
Payable Date
05/28/2026
Dividends Paid
Monthly
Capital GainsF
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
05/08/2014
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYSLX
CUSIP
70432T750
Fund Total Net Assets
As of 05/31/2026
$181.2 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Aggregate Bond Index
Appropriate for investors with a long-term investment time horizon who seek higher income and diversification across the full bond universe.
The Payden Strategic Income Fund invests in a customized mix of fixed-income sectors across the entire bond universe and maturity curve. This strategy invests for the long term in a diversified mix of securities across multiple sectors, including emerging markets, high-yield and investment-grade corporates, and mortgage-backed and asset-backed securities.
Seeks income with a custom mix of investments across the yield curve.
Focuses on “best ideas” to uncover relative value opportunities globally, with the ability to invest anywhere.
Strategic investment time horizon encourages a flexible and creative approach to structuring the portfolio.
Data as of 05/31/2026
Data as of 05/31/2026
The Middle East drove market movements throughout the month of May. Investor sentiment oscillated between hopes for a U.S.–Iran peace agreement and concerns that the conflict could re-escalate. Late in the month, reports of a proposed 60-day extension of the ceasefire revived the relief trade. Brent crude fell 19.3% during May, its largest monthly decline since March 2020, easing stagflation fears and helping propel a broad rally across risk assets.
In the U.S., the Court of International Trade ruled the 10% global tariff under the Trade Act of 1974 unlawful. April economic data initially came in stronger than expected. Headline Consumer Price Index (CPI) accelerated to 3.8% year on year, core Personal Consumption Expenditures (PCE) inflation rose to 3.3%, and nonfarm payrolls increased by 115,000, well above the expectations of 65,000. Minutes from the May Federal Open Market Committee (FOMC) meeting indicated that most participants were open to policy firming if inflation remained persistently above 2%, with many calling for the Federal Reserve (Fed) to drop its easing bias. The 30-year U.S. Treasury yield hit a post-2007 high of 5.18% on May 19th, before improved risk sentiment pulled yields back. The 10-year U.S. Treasury closed at 4.44%, and the S&P 500 rose 5.15% over the month.
Our macroeconomic outlook remains relatively optimistic with risks tilted to the downside. The U.S. economy remains central to our global outlook for 2026. We believe it will be able to absorb elevated energy prices, in line with what we observed in 2023 and 2024, with the most likely outcome being a re-acceleration of growth driven in part by technology-led productivity gains. We continue to expect U.S. inflation to moderate, although elevated energy costs have delayed the timeline and we believe the Fed could have scope to ease policy later in the year. Stickier inflation nonetheless remains a risk to this central view.
We favor a long duration position in portfolios, particularly at the front end of the U.S. curve, as well as in select emerging markets. However, given the potential upside risk to inflation expectations, we aim to retain flexibility to add to these positions should pricing become more attractive. Credit valuations have reversed much of the weakness experienced in March and remain near the most expensive end of the historical range. We also believe dispersion across and within sectors could increase, which emphasizes the need for diversification and strong bottom-up fundamental analysis.
Given our central views, we maintain modest overweight positions across credit sectors, with a bias toward higher-quality sectors such as investment-grade corporates or higher-quality securitized assets.
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, 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.
Equity Securities Risk: Investment in equity securities poses certain risks, including a sudden decline in a holding’s share price, or an overall decline in the stock market. The value of the Fund’s investment in any such securities will fluctuate on a day-to-day basis with movements in the stock market, as well as in response to the activities of individual companies whose equity securities the Fund owns. Fund price may fall when the U.S. stock market declines. Moreover, purchasing stocks perceived to be undervalued brings additional risks. For example, the issuing company’s condition may worsen instead of improve, or the pace and extent of any improvement may be less than expected.
0.20%
70432T750
Fund Total Net Assets
As of 05/31/2026
$181.2 Million
Sales Charge
None
Benchmark
Bloomberg U.S. Aggregate Bond Index
Appropriate for investors with a long-term investment time horizon who seek higher income and diversification across the full bond universe.
The Payden Strategic Income Fund invests in a customized mix of fixed-income sectors across the entire bond universe and maturity curve. This strategy invests for the long term in a diversified mix of securities across multiple sectors, including emerging markets, high-yield and investment-grade corporates, and mortgage-backed and asset-backed securities.
Seeks income with a custom mix of investments across the yield curve.
Focuses on “best ideas” to uncover relative value opportunities globally, with the ability to invest anywhere.
Strategic investment time horizon encourages a flexible and creative approach to structuring the portfolio.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Month-End (05/31/2026) | 0.52% | 5.01% | - | - | - | 5.69% |
| Quarter-End (03/31/2026) | -0.46% | 3.96% | - | - | - | 5.66% |
Investment MinimumG
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
20%
1-3 yrs
15%
3-5 yrs
25%
5-7 yrs
17%
7+ yrs
23%
Credit
Percent of Portfolio
AAA
16%
AA
28%
A
10%
BBB
26%
BB
12%
B
5%
Unrated
3%
Sector
Percent of Portfolio