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NAV / Daily Prices
NAV ($)
9.51
NAV Change ($)
-0.02
Change %
-0.21%
MTD Return
-0.52%
YTD Return
Statistics
30-Day SEC YieldA
4.85%
30-Day SEC Yield (Unsubsidized)B
5.49%
Average Maturity
6.62 Years
Effective DurationC
4.08 Years
Expenses
Total Fund Operating Expenses
1.20%D
With Expense Cap
0.91%
| Total ReturnsF | Month-End (04/30/2026) | Quarter-End (03/31/2026) |
| YTD | 0.13% | -0.46% |
| 1 Year | 4.92% | 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.
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, 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.
Duration
Percent of Portfolio
0-1 yr
21%
1-3 yrs
15%
3-5 yrs
23%
5-7 yrs
21%
7-10 yrs
16%
10+ yrs
Credit
Percent of Portfolio
AAA
15%
AA
34%
A
8%
BBB
24%
BB
12%
B
4%
4%
Unrated
3%
Sector
Percent of Portfolio
Investment Grade Corporates
24%
U.S. Government
24%
Securitized
20%
High Yield
11%
Emerging Market Debt
8%
Agency MBS
7%
Muni
1%
Other
5%
| - |
| - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 5.73% | 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.
DividendsG
Dividend
$0.0166
Dividend Reinvest NAV
$9.54
Record Date
04/28/2026
Ex Date
04/29/2026
Payable Date
04/29/2026
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
05/08/2014
Share Class Inception Date
11/30/2023
Share Class
Adviser Class
Ticker
PYSLX
CUSIP
70432T750
Fund Total Net Assets
As of 04/30/2026
$185.2 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 04/30/2026
Data as of 04/30/2026
April unfolded in two distinct phases, initially marked by a relief rally as the partial reopening of the Strait of Hormuz and ongoing negotiations eased supply concerns, prompting a broad repricing across global assets. However, sentiment deteriorated in the latter half as progress toward a lasting resolution proved more complex; oil prices edged higher again, reigniting inflation concerns and pushing rates upward. Despite this uncertainty, risk assets showed resilience, supported by a solid earnings season, even as the macroeconomic backdrop reflected persistent inflation pressures and fragile growth.
Firmer inflation data released during the month, particularly on the headline side, led investors to reassess the Federal Reserve’s (Fed's) reaction function. While core measures remained relatively contained, the strength in energy-driven inflation, alongside resilient activity data, reinforced the Fed’s cautious stance. The advance estimate of first-quarter GDP pointed to a rebound in growth, suggesting the economy continues to absorb tighter financial conditions. Against this backdrop, the Fed left rates unchanged and signaled patience, prompting markets to push out the timing of rate cuts. The S&P 500 ended the month up 10.42%; while the yield on the 10-year U.S. Treasury finished at 4.37%.
Notwithstanding the risks around the Iranian conflict, our macroeconomic outlook remains relatively optimistic, with risks tilted to the downside. The U.S. economy is central to our global outlook in 2026. We believe the economy 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 reacceleration of growth driven by technology-led productivity gains. We expect U.S. inflation to moderate, though elevated energy costs have delayed the timeline, and we believe the Fed will have scope to ease policy later in the year. Stickier inflation remains a risk to this central view.
We favor a long-duration position in portfolios, particularly in the front end of the U.S. curve, as well as in select emerging markets. However, given the potential upside risk in inflation expectations, we aim to retain flexibility to add to this position should pricing become more attractive. Credit valuations have recovered much of the decline experienced in March and remain near the more expensive end of their historical range. We believe there could be greater dispersion across and within sectors, which emphasizes the need for diversification and strong bottom-up fundamental analysis.
Given our central views, we maintain modest overweight positions in credit sectors, with a bias toward higher-quality sectors such as investment-grade corporates or higher-quality securitized assets.
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, 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.
-0.39%
70432T750
Fund Total Net Assets
As of 04/30/2026
$185.2 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 (04/30/2026) | 0.13% | 4.92% | - | - | - | 5.73% |
| Quarter-End (03/31/2026) | -0.46% | 3.96% | - | - | - | 5.66% |
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
0-1 yr
21%
1-3 yrs
15%
3-5 yrs
23%
5-7 yrs
21%
7-10 yrs
16%
10+ yrs
4%
Credit
Percent of Portfolio
AAA
15%
AA
34%
A
8%
BBB
24%
BB
12%
B
4%
Unrated
3%
Sector
Percent of Portfolio
Investment Grade Corporates
24%
U.S. Government
24%
Securitized
20%
High Yield
11%
Emerging Market Debt
8%
Agency MBS
7%
Muni
1%
Other
5%