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Trending ETFs

Payden High Income Fund

mutual fund
PYCHX
Payout Change
Pending
Price as of:
$6.38 +0.0 +0.0%
primary theme
High Yield Bond
PYCHX (Mutual Fund)

Payden High Income Fund

Payout Change
Pending
Price as of:
$6.38 +0.0 +0.0%
primary theme
High Yield Bond
PYCHX (Mutual Fund)

Payden High Income Fund

Payout Change
Pending
Price as of:
$6.38 +0.0 +0.0%
primary theme
High Yield Bond

Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.38

$747 M

8.82%

$0.56

0.60%

Vitals

YTD Return

9.2%

1 yr return

12.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$747 M

Holdings in Top 10

14.8%

52 WEEK LOW AND HIGH

$6.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 74.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.38

$747 M

8.82%

$0.56

0.60%

PYCHX - Profile

Distributions

  • YTD Total Return 9.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 8.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden High Income Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Feb 28, 2022
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jordan Lopez

Fund Description

ª
The Fund invests in a wide variety of debt instruments and income-producing securities. These include (1) debt securities, loans and commercial paper issued by U.S. and foreign companies; (2) debt securities issued or guaranteed by the U.S. Government and foreign governments and their agencies and instrumentalities, political subdivisions of foreign governments (such as provinces and municipalities), and supranational organizations (such as the World Bank); (3) municipal securities, which are debt obligations issued by state and local governments, territories and possessions of the United States, regional governmental authorities, and their agencies and instrumentalities, the interest on which may, or may not, be exempt from Federal income tax; and (4) convertible bonds and preferred stock.
ª
Under normal market conditions, the Fund invests at least 80% of its total assets in corporate debt securities rated below investment grade (commonly called “high yield”). Below investment grade debt securities are rated below the four highest grades by at least one Nationally Recognized Statistical Rating Organization, or are securities that the Fund’s adviser, Payden & Rygel (“Payden”), determines to be of comparable quality.
ª
The Fund emphasizes investments in debt securities of (1) issuers with credit ratings at the mid to high quality end of the high yield bond spectrum, which Payden believes have stable to improving business prospects; (2) issuers Payden believes have reasonable prospects for improved operating results and improved credit ratings.
ª
The Fund may invest up to 30% of its total assets in securities of issuers organized or headquartered in emerging market countries.
ª
The Fund may invest up to 20% of its total assets in equity securities of U.S. or foreign issuers.
ª
The Fund may invest in many different types of derivatives, such as futures, forwards, swaps and options. These positions may be used for the purposes of either hedging currency exposure in the portfolio or to obtain exposure to various market sectors. Currency positions may be employed for the purposes of hedging non-dollar denominated bonds or to take an active position in a currency, both long or short.
ª
To gain exposure to various markets consistent with the investment strategies of the Fund, the Fund may invest in exchange-traded funds (“ETFs”) and other investment companies, including for example, other open-end or closed-end investment companies, and including investment companies for which the Adviser provides investment management services (affiliated funds).
ª
The Fund primarily invests in debt securities payable in U.S. dollars and may invest in foreign currencies. The Fund may hedge this foreign currency exposure to the U.S. dollar.
ª
The Fund invests in debt securities of any maturity and there is no limit on the Fund’s minimum or maximum average portfolio maturity. Maturity is the date when each bond or other debt security pays back its principal.
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PYCHX - Performance

Return Ranking - Trailing

Period PYCHX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.2% -7.7% 18.3% 37.11%
1 Yr 12.5% -4.8% 18.6% 25.94%
3 Yr N/A* -14.1% 21.6% 8.35%
5 Yr N/A* -11.4% 37.3% 7.73%
10 Yr N/A* -4.9% 20.3% 24.68%

* Annualized

Return Ranking - Calendar

Period PYCHX Return Category Return Low Category Return High Rank in Category (%)
2023 7.0% -4.7% 14.3% 8.03%
2022 N/A -33.4% 3.6% N/A
2021 N/A -8.4% 8.2% N/A
2020 N/A -13.2% 302.7% N/A
2019 N/A -4.4% 13.3% N/A

Total Return Ranking - Trailing

Period PYCHX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.2% -7.7% 18.3% 37.11%
1 Yr 12.5% -4.8% 18.6% 25.94%
3 Yr N/A* -14.1% 21.6% 9.70%
5 Yr N/A* -11.4% 37.3% 9.77%
10 Yr N/A* -4.9% 20.3% 23.20%

* Annualized

Total Return Ranking - Calendar

Period PYCHX Return Category Return Low Category Return High Rank in Category (%)
2023 14.8% -4.7% 18.7% 4.59%
2022 N/A -33.4% 47.8% N/A
2021 N/A -8.4% 12.4% N/A
2020 N/A -9.6% 325.6% N/A
2019 N/A -3.8% 19.4% N/A

NAV & Total Return History


PYCHX - Holdings

Concentration Analysis

PYCHX Category Low Category High PYCHX % Rank
Net Assets 747 M 3.13 M 25.3 B 43.46%
Number of Holdings 374 2 4432 46.96%
Net Assets in Top 10 109 M -492 M 6.67 B 47.78%
Weighting of Top 10 14.84% 4.2% 146.0% 41.54%

Top 10 Holdings

  1. Payden Cash Reserves Money Market Fund 5.16%
  2. PAYDEN CASH RESERVES MONEY MARKET 4.80%
  3. Hilcorp Energy I LP / Hilcorp Finance Co 0.66%
  4. Freedom Mortgage Holdings LLC 0.64%
  5. NextEra Energy Operating Partners LP 0.63%
  6. Connecticut Avenue Securities Trust 2019-HRP1 0.62%
  7. Verde Purchaser LLC 0.60%
  8. IHO Verwaltungs GmbH 0.59%
  9. EQM Midstream Partners LP 0.57%
  10. Tullow Oil PLC 0.57%

Asset Allocation

Weighting Return Low Return High PYCHX % Rank
Bonds
92.95% 0.00% 145.36% 70.75%
Stocks
5.20% 0.00% 97.54% 8.99%
Cash
5.16% -52.00% 48.02% 30.54%
Other
2.10% -39.08% 99.23% 9.52%
Convertible Bonds
1.79% 0.00% 17.89% 27.09%
Preferred Stocks
0.00% 0.00% 4.97% 68.14%

Stock Sector Breakdown

Weighting Return Low Return High PYCHX % Rank
Utilities
0.00% 0.00% 100.00% N/A
Technology
0.00% 0.00% 33.17% N/A
Real Estate
0.00% 0.00% 86.71% N/A
Industrials
0.00% 0.00% 93.12% N/A
Healthcare
0.00% 0.00% 22.17% N/A
Financial Services
0.00% 0.00% 100.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 99.99% N/A
Consumer Defense
0.00% 0.00% 100.00% N/A
Consumer Cyclical
0.00% 0.00% 100.00% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High PYCHX % Rank
US
5.20% 0.00% 97.54% 9.03%
Non US
0.00% -0.01% 0.83% 53.37%

Bond Sector Breakdown

Weighting Return Low Return High PYCHX % Rank
Corporate
91.47% 0.00% 100.00% 77.14%
Cash & Equivalents
5.16% 0.00% 48.02% 26.77%
Securitized
3.23% 0.00% 97.24% 14.31%
Derivative
0.09% -14.58% 42.26% 19.70%
Government
0.06% 0.00% 99.07% 28.29%
Municipal
0.00% 0.00% 1.17% 46.05%

Bond Geographic Breakdown

Weighting Return Low Return High PYCHX % Rank
US
90.57% 0.00% 126.57% 72.41%
Non US
2.38% 0.00% 96.91% 25.29%

PYCHX - Expenses

Operational Fees

PYCHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.02% 38.33% 84.92%
Management Fee 0.35% 0.00% 1.75% 9.33%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

PYCHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PYCHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PYCHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 74.00% 1.00% 255.00% 70.38%

PYCHX - Distributions

Dividend Yield Analysis

PYCHX Category Low Category High PYCHX % Rank
Dividend Yield 8.82% 0.00% 11.76% 18.76%

Dividend Distribution Analysis

PYCHX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

PYCHX Category Low Category High PYCHX % Rank
Net Income Ratio N/A -2.39% 9.30% N/A

Capital Gain Distribution Analysis

PYCHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PYCHX - Fund Manager Analysis

Managers

Jordan Lopez


Start Date

Tenure

Tenure Rank

Aug 14, 2012

9.8

9.8%

Jordan Lopez, Chartered Financial Analyst (“CFA”), a Senior Vice President and portfolio manager, deal with portfolio construction, broad security selection and risk assessment. Jordan has been with Payden and in the investment management business since 2004.

James Wong


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

James Wong, CFA, is a Managing Principal and portfolio manager who has been with Payden & Rygel since 1995. He has worked with the two products since their inception. Wong has over 15 years of equity portfolio management experience, during which he has managed the breadth of equity styles and market capitalizations. He has extensive experience managing long/short portfolios, creating hedging strategies using derivatives and developing customized investment solutions for client specific needs. Wong is also a member of the Investment Policy Committee. Prior to joining Payden & Rygel, Wong was a trader at the Union Bank of Switzerland where he focused on mortgage-backed securities. Previously, he was in the mergers and acquisitions group at Salomon Brothers Inc., focusing on financial institutions. Wong holds the Chartered Financial Analyst designation and the FINRA series 7, 3 and 63 licenses. He earned an MBA degree from The Anderson School at the University of California, Los Angeles with an emphasis in finance. Wong received a BS degree in Finance from The Wharton School at the University of Pennsylvania.

Alfred Giles


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

Alfred Giles, CFA, a Senior Vice President and portfolio manager. Mr. Giles has been with Payden since 2013 and with the investment management business since 2005.

Timothy Crawmer


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

Tim Crawmer is a Senior Investment Manager on the North American Fixed Income team, specifically the Global High Yield Team. Tim joined Aberdeen Asset Management Inc. in May 2013 following the acquisition of Artio Global Management. From 2009-2013, Tim held a similar role with Artio Global Management’s Fixed Income Group. Prior to Artio, he was a Corporate Bond / Credit Default Swap Trader with Bank of America and Merrill Lynch. Before his career in finance, Tim served as an E-6B Mercury Naval Flight Officer in the United States Navy. Tim graduated with a BS in Mechanical Engineering from the United States Naval Academy and an MBA and Masters from the University of California Los Angeles (UCLA) Anderson School of Management.

Kristin Ceva


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

Kristin Ceva, PhD, CFA, is a managing principal and directs the global fixed-income group at Payden & Rygel. She oversees global sovereign debt strategies, including macroeconomic and political risk assessment to determine country allocation. Ceva is a member of the firm’s Investment Policy Committee. She also is a frequent speaker at industry forums, focusing on topics related to international investing and emerging markets. Prior to joining Payden & Rygel, Ceva worked with a number of international policy institutes, including the Pacific Council on International Policy, the Center for U.S.-Mexican Studies and the North America Forum at Stanford University. She also worked for several years in strategic management consulting with Deloitte & Touche in Dallas. Kristin Ceva holds the Chartered Financial Analyst designation. She earned a PhD from Stanford University in Political Science with an emphasis on international political economy. She was a Fulbright Scholar based in Mexico City and her dissertation was entitled “Economic Restructuring and Business-Government Relations: Trade and Financial Liberalization in Mexico.” Ceva has completed extensive economic and political research on emerging markets and is fluent in Spanish. She received a BBA in Finance from Texas A&M University.

Nicholas Burns


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.31 8.17