PYSIX: Payden Strategic Income SI

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PYSIX Payden Strategic Income SI


Profile

PYSIX - Profile

Vitals

  • YTD Return 0.8%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return 0.5%
  • Net Assets $164 M
  • Holdings in Top 10 27.6%

52 WEEK LOW AND HIGH

$10.27
$9.83
$10.27

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.87%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 72.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $50,000,000
  • IRA $50,000,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.45%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden Strategic Income Fund SI Class
  • Fund Family Name
    Paydenfunds
  • Inception Date
    May 08, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brad Boyd

Fund Description

The fund invests in a wide variety of securities across many asset classes in an unconstrained fashion. It seeks opportunities by employing a flexible approach that evaluates security attractiveness on a global basis and across currencies. The fund will invest in income-producing securities and equity related securities payable in U.S. dollars and other currencies.


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Categories

Performance

PYSIX - Performance

Return Ranking - Trailing

Period PYSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -0.8% 0.8% 0.68%
1 Yr 4.6% -6.6% 6.9% 19.58%
3 Yr 0.9%* -3.8% 4.2% 33.88%
5 Yr 0.5%* -2.5% 3.8% 37.27%
10 Yr N/A* -7.3% 3.4% N/A

* Annualized

Return Ranking - Calendar

Period PYSIX Return Category Return Low Category Return High Rank in Category (%)
2019 4.9% -6.6% 4.9% 0.35%
2018 -3.8% -4.1% 1.0% 98.44%
2017 1.3% -1.4% 2.8% 6.87%
2016 1.0% -65.8% 7.1% 17.51%
2015 -0.3% -6.9% 3.0% 4.88%

Total Return Ranking - Trailing

Period PYSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -0.8% 0.8% 0.68%
1 Yr 4.6% -6.6% 6.9% 16.08%
3 Yr 0.9%* -3.8% 4.2% 45.87%
5 Yr 0.5%* -2.3% 3.8% 48.64%
10 Yr N/A* -7.3% 4.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PYSIX Return Category Return Low Category Return High Rank in Category (%)
2019 4.9% -6.6% 4.9% 0.35%
2018 -3.8% -4.1% 6.5% 98.44%
2017 1.3% -1.4% 4.7% 24.89%
2016 1.0% -65.2% 10.7% 29.49%
2015 -0.3% -5.3% 3.1% 17.56%

NAV & Total Return History


Holdings

PYSIX - Holdings

Concentration Analysis

PYSIX Category Low Category High PYSIX % Rank
Net Assets 164 M 272 K 62.1 B 77.89%
Number of Holdings 309 7 2023 70.55%
Net Assets in Top 10 31.5 M -5.43 M 5.5 B 79.45%
Weighting of Top 10 27.63% 6.4% 140.4% 38.70%

Top 10 Holdings

  1. 5 Year Treasury Note Future Mar20 9.11%
  2. United States Treasury Notes 1.62% 7.07%
  3. Ultra 10 Year US Treasury Note Future Mar20 2.33%
  4. United States Treasury Notes 1.38% 2.28%
  5. Bond-Unsettled Purchases 1.90%
  6. FHLMC Pc Prepay Prm 30 2.45% 1.13%
  7. Federal National Mortgage Association 3% 0.98%
  8. Federal National Mortgage Association 4% 0.95%
  9. Government National Mortgage Association 3% 0.95%
  10. LOS ANGELES CALIF MUN IMPT CORP LEASE REV 3.43% 0.94%

Asset Allocation

Weighting Return Low Return High PYSIX % Rank
Bonds
97.19% 22.39% 137.59% 20.55%
Convertible Bonds
1.21% 0.00% 4.79% 44.52%
Stocks
1.03% 0.00% 8.19% 2.05%
Cash
0.34% -50.76% 77.61% 82.19%
Preferred Stocks
0.24% 0.00% 35.55% 6.51%
Other
-0.01% -3.41% 13.17% 96.58%

Stock Sector Breakdown

Weighting Return Low Return High PYSIX % Rank
Real Estate
62.59% 0.00% 100.00% 9.23%
Energy
37.41% 0.00% 100.00% 47.69%
Utilities
0.00% 0.00% 12.01% 100.00%
Technology
0.00% 0.00% 23.38% 98.46%
Industrials
0.00% 0.00% 100.00% 98.46%
Healthcare
0.00% 0.00% 18.65% 98.46%
Financial Services
0.00% 0.00% 32.86% 98.46%
Communication Services
0.00% 0.00% 31.51% 98.46%
Consumer Defense
0.00% 0.00% 19.85% 98.46%
Consumer Cyclical
0.00% 0.00% 100.00% 98.46%
Basic Materials
0.00% 0.00% 14.78% 98.46%

Stock Geographic Breakdown

Weighting Return Low Return High PYSIX % Rank
US
1.03% 0.00% 7.94% 2.05%
Non US
0.00% -1.23% 0.25% 96.23%

Bond Sector Breakdown

Weighting Return Low Return High PYSIX % Rank
Corporate
37.37% 2.58% 96.07% 53.08%
Government
22.33% -3.22% 74.43% 38.70%
Securitized
20.15% 0.00% 89.26% 72.60%
Cash & Equivalents
8.79% 0.15% 77.61% 24.66%
Derivative
8.50% -0.09% 21.46% 10.62%
Municipal
2.86% 0.00% 13.57% 7.88%

Bond Geographic Breakdown

Weighting Return Low Return High PYSIX % Rank
US
74.49% 0.00% 137.59% 68.49%
Non US
22.70% 0.00% 84.14% 17.81%

Expenses

PYSIX - Expenses

Operational Fees

PYSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.00% 83.41% 46.88%
Management Fee 0.55% 0.00% 1.19% 88.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.41% 75.65%

Sales Fees

PYSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 0.65% 4.00% N/A

Trading Fees

PYSIX 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.

PYSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 72.00% 0.00% 573.00% 56.73%

Distributions

PYSIX - Distributions

Dividend Yield Analysis

PYSIX Category Low Category High PYSIX % Rank
Dividend Yield 0.87% 0.00% 1.93% 21.43%

Dividend Distribution Analysis

PYSIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PYSIX Category Low Category High PYSIX % Rank
Net Income Ratio 3.45% -2.82% 3.78% 3.47%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PYSIX - Fund Manager Analysis

Managers

Brad Boyd


Start Date

Tenure

Tenure Rank

May 08, 2014

5.65

5.7%

Brad Boyd, CFA, is a senior vice president and a senior strategist on the global unconstrained fixed income team with a focus on absolute return solutions. In this capacity, he is responsible for strategy implementation, risk management and performance attribution. Brad also helped with the development of models and processes used for efficient and robust portfolio risk assessment. Previously, he assisted in the management of UK and European fixed income mandates from the firm's London offices. Prior to joining Payden & Rygel, Boyd worked on the bond-trading desk at Standish, Ayer & Wood in Boston. Boyd holds the Chartered Financial Analyst designation and is a member of the CFA Society of Los Angeles. He received a BA degree in Finance from the University of Utah.

Michael Salvay


Start Date

Tenure

Tenure Rank

May 08, 2014

5.65

5.7%

Michael Salvay, CFA, is a Managing Principal at Payden & Rygel. He is a member of the firm’s Investment Policy Committee and serves as Senior Portfolio Manager advising public pension plans, endowments and universities and corporations. He directs the core bond architecture group and has extensive experience in developing customized mandates for active and passive index replication portfolios as well as hedging programs. Salvay is also a trustee of The Payden & Rygel Investment Group, the sponsor of the Paydenfunds, for which Payden & Rygel is the investment advisor. Prior to joining Payden & Rygel, Salvay was a Senior Portfolio Manager at Dewey Square Investors in Boston, where he specialized in mortgage-backed securities and duration immunization strategies. Michael Salvay holds the Chartered Financial Analyst designation and is a member of the CFA Institute. He earned an MBA from the Amos Tuck School at Dartmouth College and a BA in Economics from the University of California, San Diego.

Frank Spindler


Start Date

Tenure

Tenure Rank

Feb 28, 2017

2.84

2.8%

Frank Spindler, CFA, is a Fixed-Income Portfolio Strategist at Payden & Rygel. He is responsible for developing and implementing investment strategies in core and strategic income bond portfolios for corporations, healthcare organizations, pension plans and insurance companies. Frank manages performance attribution, portfolio analytics and performs market analysis identifying strategic opportunities among core bond sectors and along the yield curve. Prior to joining Payden & Rygel, Spindler worked as a Compliance Analyst for the Financial Industry Regulatory Authority in Los Angeles and investment analyst for a CBIZ Financial Solutions, a wealth management firm in San Diego, CA. Frank Spindler is a CFALA member and chairman of the CFALA program planning committee. Spindler holds the Chartered Financial Analyst designation. He earned a BS in business finance at California State University, Northridge.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 24.35 5.54 2.75