US Funds

Payden Equity Income Fund (PYVLX)

$20.86

NAV ($)

$-0.02

NAV change ($) as of 12/3/2021

  • Overview
  • Portfolio Statistics
  • Performance & Expenses
  • Fund Commentary
Investment Strategy

The Payden Equity Income Fund invests primarily in large-capitalization common stocks with above-average dividend yields and other income-producing securities such as preferred stocks, master limited partnerships, and real estate investment trusts. The fund focuses on companies that have strong fundamentals and are expected to achieve positive earnings and dividend growth.

Role In Portfolio

Large-Capitalization Value – Appropriate for conservative equity investors who seek current income and moderate exposure to equity markets.

Fund Highlights
Seeks to provide current income and equity market participation through a variety of stocks, sectors and security types such as common and preferred stocks, master limited partnerships (MLPs) and real estate investment trusts (REITs)
Expects a large component of the total return to come from dividends
Seeks to achieve lower volatility and better risk-adjusted returns than competitors and the broad market
Fund price may fall when the U.S. stock market declines

Fund Snapshot
Fund Inception Date Nov 1, 1996
Share Class Inception Date Nov 1, 1996
Ticker PYVLX
CUSIP 704329739
Fund Total Net Assets $1.8 billion
Benchmark RUSSELL 1000 VALUE INDEX

Net Expense Ratio 0.74%
Sales Charge None
Investment Minimum
Investor Class - Regular Account $5,000
Investor Class - IRA Account $2,000
Adviser Class - Regular Account $5,000
Adviser Class - IRA Account $2,000
SI Class $10,000,000
Additional Investment - All Classes$250

A Low Cost leader
Payden Equity Income Fund (PYVLX) Morningstar average:
Large Value
Net Expense Ratio 0.74% 1.12%

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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.

To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.

Portfolio Characteristics
Fund Inception Date Nov 1, 1996
Share Class Inception Date Nov 1, 1996
Total Net Assets $1.8 billion
Average Duration N/A
Average Maturity N/A
30-Day SEC Yield (11/30/21) 1.93%
30-Day SEC Yield (unsubsidized) 1.93%
Top Holdings
Top Holdings Sector
Canadian Natural Resources Energy
Goldman Sachs Group Financials
JPMorgan Chase Financials
Bank Of America Financials
CVS Health Corp Health Care
Comcast-A Communication Services
Morgan Stanley Financials
Bristol-Myers Squibb Health Care
Microsoft Information Technology
Tourmaline Oil Corp Energy
Sector Breakdown
Sector Percent of Portfolio
Financials22%
Health Care14%
Technology11%
Energy10%
Consumer Staples8%
Real Estate8%
Consumer Discretionary8%
Industrials7%
Utilities5%
Communication Services4%
Other3%
Total 100%

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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.

To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.


Total Returns
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Quarter-end (9/30/2021) 13.76% 26.05% 9.40% 10.58% 12.36% 7.16%
Month-end (11/30/2021) 16.01% 19.48% 10.92% 10.52% 11.67% 7.19%
Yearly Returns
20200.74%
201927.95%
2018-6.69%
201715.70%
201614.92%
20151.75%
201414.79%
201322.25%
201210.04%
201114.36%
Expenses
Total Annual Operating Expense 0.74%
Net or Actual Operating Expense 0.74%

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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.

To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.

Fund Commentary

MARKET
The U.S. equity market posted a modest gain for the third quarter (S&P 500 Index: +0.6%), despite volatility picking up in September.
Equity prices fell from record levels as elevated macro uncertainties (Federal Reserve tapering, China, the U.S. debt ceiling) and rising inflationary pressures weighed on investor sentiment.
Sector performances were mixed with financials (+2.7%) and utilities (+1.8%) leading markets higher, while industrials (-4.2%) and materials (-3.5%) were the market laggards.

OUTLOOK
We expect the equity rally to continue, albeit at a slower pace, as our economic outlook remains positive and continued government expansionary policies support higher equity prices.
We anticipate increased volatility in the near term as the focus will be on macro headlines and third-quarter corporate earnings results, which are expected to be challenging, driven by supply-chain disruptions and cost inflation.
We continue to favor the financial and energy sectors, as financial companies are best positioned to benefit from potentially higher interest rates, steepening yield curve, and reduced regulatory risks, while energy companies are expected to see a sharp rise in profits due to higher commodity prices.

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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.

To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.