US Funds

Payden Equity Income Fund SI Class (PYVSX)

$17.97

NAV ($)

$-0.06

NAV change ($) as of 5/22/2024

  • 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 (MLPs), and real estate investment trusts (REITs). 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
The Fund seeks to provide current income and equity-market participation through a variety of stocks, sectors, and security types such as common and preferred stocks, MLPs, and REITs.
The Fund seeks to achieve lower volatility and better risk-adjusted returns than competitors and the broad market overall.

Fund Snapshot - 04/30/2024
Fund Inception Date Nov 1, 1996
Share Class Inception Date Aug 1, 2014
Ticker PYVSX
CUSIP 704329135
Fund Total Net Assets $1.2 billion
Benchmark RUSSELL 1000 VALUE INDEX

Net Expense Ratio 0.65%
Sales Charge None
Investment Minimum
Investor Class - Regular Account $100,000
Investor Class - IRA Account $100,000
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 SI Class (PYVSX) Morningstar average:
Large Value
Net Expense Ratio 0.65% 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 - 04/30/2024
Fund Inception Date Nov 1, 1996
Share Class Inception Date Aug 1, 2014
Total Net Assets $1.2 billion
Average Duration N/A
Average Maturity N/A
30-Day SEC Yield (05/17/24) 1.49%
30-Day SEC Yield (unsubsidized) 1.48%
Top Holdings
Top Holdings Percent of Portfolio
Exxon Mobil 3.1%
JPMorgan Chase3.0%
Arthur J Gallagher 2.3%
McKesson2.1%
Emerson Electric2.0%
Wells Fargo2.0%
Microsoft 1.9%
Verizon Communications1.8%
L1.8%
Energy Transfer1.8%
Sector Breakdown
Sector Percent of Portfolio
Financials21%
Industrials14%
Technology12%
Energy11%
Health Care9%
Communication Services7%
Consumer Discretionary7%
Consumer Staples6%
Materials4%
Utilities3%
Money Markets3%
Real Estate3%
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 (3/31/2024) 9.03% 18.86% 6.78% 8.62% N/A 8.86%
Month-end (4/30/2024) 4.88% 12.82% 4.33% 6.93% N/A 8.35%
Yearly Returns
20235.46%
2022-6.66%
202123.36%
20200.84%
201928.03%
2018-6.61%
201715.92%
201615.05%
20151.90%
20144.75%
Expenses
Total Annual Operating Expense 0.73%
Net or Actual Operating Expense 0.65%

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 - 04/30/2024

MARKET
U.S. equities fell for the month of April (S&P 500: -4.1%), posting their first monthly loss in six months.
Macro-related concerns (such as higher interest rates, hot inflation data, and increased geopolitical risks) drove the weaker investor sentiment, despite better-than-expected first-quarter corporate earnings results.
Nearly all sectors posted losses for the month with real estate (-8.5%), technology (-5.4%), and health care (-5.1%) leading markets lower, while utilities (+1.7%), energy (-0.8%), and consumer staples (-0.9%) were the best-performing sectors.

OUTLOOK
Our equity market outlook remains positive, supported by the expected robust economic and corporate earnings growth over the next 12 months.
We expect macro-related concerns (including Federal Reserve policy, U.S. presidential election, and Middle East tension) to drive investor sentiment in the coming months, which may lead to an increase in market volatility and limit the price upside in the near-term.
We believe putting a greater emphasis on dividend growth over high-dividend yields will help better capture the current market opportunities (with electrification, Artificial Intelligence, and U.S. manufacturing reshoring), and lower the portfolio sensitivity to higher interest rates.

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.