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Name

As of 12/23/2024

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

Payden U.S. Government Fund

PYUSX | Fund

$9.34

$69 M

3.71%

$0.35

0.68%

Vitals

YTD Return

3.2%

1 yr return

3.3%

3 Yr Avg Return

0.3%

5 Yr Avg Return

0.9%

Net Assets

$69 M

Holdings in Top 10

58.1%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/23/2024

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

Payden U.S. Government Fund

PYUSX | Fund

$9.34

$69 M

3.71%

$0.35

0.68%

PYUSX - Profile

Distributions

  • YTD Total Return 3.2%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.44%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden U.S. Government Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Oct 18, 1996
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Ballantine

Fund Description

ª
The Fund invests 100% of its total assets in “U.S. Government Obligations,” which are defined as U.S. Treasury bills, notes and bonds, and other bonds and obligations issued or guaranteed by the U.S. Government, or in Government National Mortgage Association (GNMA) mortgage-backed securities, which are debt securities representing part ownership in a pool of mortgage loans backed by the full faith and credit of the U.S. Government, or in Government-sponsored enterprises (such as the Federal Home Loan Mortgage Corporation (FHLMC) and the Federal National Mortgage Association (FNMA)). In addition, the Fund may also invest in collateralized mortgage obligations and repurchase agreements collateralized by U.S. Government Obligations.
ª
Under normal market conditions, the Fund’s average portfolio maturity (on a dollar-weighted basis) is generally less than five years. In calculating the Fund’s average portfolio maturity, the Fund uses a security’s stated maturity, or if applicable, an earlier date based on the Adviser’s belief that the security may be subject, for example, to a call, a put, a refunding, a prepayment, a redemption provision, an adjustable coupon rate, or the like, that will cause the security to be repaid earlier. The Fund invests in mortgage-backed U.S. Government Obligations with a maximum effective duration of ten years. Duration is a mathematical concept which
uses anticipated cash flows to measure the price volatility of a security and is calculated in terms of years. For example, when interest rates move up or down, the price of a security with a duration of four years will move roughly twice as much as a security with a duration of two years.
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 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.
Read More

PYUSX - Performance

Return Ranking - Trailing

Period PYUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -0.4% 7.4% 56.96%
1 Yr 3.3% -0.2% 7.6% 58.23%
3 Yr 0.3%* -2.1% 3.1% 64.10%
5 Yr 0.9%* -0.8% 2.1% 41.89%
10 Yr 1.1%* -0.2% 2.5% 40.00%

* Annualized

Return Ranking - Calendar

Period PYUSX Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -1.6% 4.4% 65.82%
2022 -8.2% -10.4% -1.0% 70.51%
2021 -3.2% -6.4% -0.2% 85.90%
2020 2.2% -1.8% 4.9% 50.00%
2019 1.3% -1.4% 3.3% 36.11%

Total Return Ranking - Trailing

Period PYUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -0.4% 7.4% 56.96%
1 Yr 3.3% -0.2% 7.6% 58.23%
3 Yr 0.3%* -2.1% 3.1% 64.10%
5 Yr 0.9%* -0.8% 2.1% 41.89%
10 Yr 1.1%* -0.2% 2.5% 40.00%

* Annualized

Total Return Ranking - Calendar

Period PYUSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% 2.4% 6.2% 43.04%
2022 -5.4% -9.3% 0.2% 60.26%
2021 -1.0% -3.1% 0.1% 41.03%
2020 4.8% 0.4% 6.0% 12.16%
2019 4.5% 1.1% 5.5% 4.17%

NAV & Total Return History

PYUSX - Holdings

Concentration Analysis

PYUSX Category Low Category High PYUSX % Rank
Net Assets 69 M 11.1 M 23.7 B 86.08%
Number of Holdings 54 7 1073 84.81%
Net Assets in Top 10 40 M 2 M 6.85 B 72.15%
Weighting of Top 10 58.05% 15.6% 100.0% 21.52%

Top 10 Holdings

  1. United States Treasury Note/Bond 11.13%
  2. United States Treasury Note/Bond 8.74%
  3. United States Treasury Note/Bond 8.62%
  4. United States Treasury Note/Bond 7.80%
  5. United States Treasury Note/Bond 6.46%
  6. United States Treasury Note/Bond 4.33%
  7. Fannie Mae or Freddie Mac 3.52%
  8. Payden Cash Reserves Money Market Fund 2.89%
  9. Fannie Mae Pool 2.33%
  10. Freddie Mac Pool 2.21%

Asset Allocation

Weighting Return Low Return High PYUSX % Rank
Bonds 		100.12% 70.16% 127.20% 6.33%
Cash 		2.89% 0.00% 14.15% 25.32%
Stocks 		0.00% 0.00% 0.72% 24.05%
Preferred Stocks 		0.00% 0.00% 0.00% 17.72%
Convertible Bonds 		0.00% 0.00% 0.00% 17.95%
Other 		-0.11% -25.01% 29.90% 94.94%

Bond Sector Breakdown

Weighting Return Low Return High PYUSX % Rank
Securitized 		68.75% 0.00% 100.00% 29.49%
Government 		14.95% 0.00% 99.96% 82.05%
Cash & Equivalents 		2.89% 0.00% 14.15% 25.32%
Corporate 		0.00% 0.00% 34.19% 34.62%
Municipal 		0.00% 0.00% 6.22% 29.49%
Derivative 		-0.11% -0.11% 11.49% 100.00%

Bond Geographic Breakdown

Weighting Return Low Return High PYUSX % Rank
US 		100.12% 70.16% 127.20% 6.33%
Non US 		0.00% 0.00% 0.00% 17.72%

PYUSX - Expenses

Operational Fees

PYUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.03% 2.91% 51.90%
Management Fee 0.28% 0.03% 0.80% 28.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.10% 0.45% 68.18%

Sales Fees

PYUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 0.50% 1.00% N/A

Trading Fees

PYUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 0.25% 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.

PYUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 466.00% 4.92%

PYUSX - Distributions

Dividend Yield Analysis

PYUSX Category Low Category High PYUSX % Rank
Dividend Yield 3.71% 0.00% 5.67% 46.84%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PYUSX Category Low Category High PYUSX % Rank
Net Income Ratio 1.44% -0.78% 3.29% 9.21%

Capital Gain Distribution Analysis

PYUSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

PYUSX - Fund Manager Analysis

Managers

David Ballantine

Start Date

Tenure

Tenure Rank

Feb 28, 2008

14.26

14.3%

David Ballantine, CFA, CFP, is a principal and and portfolio manager who has been with Payden & Rygel since 1991. He oversees the firm's trading operations and is a key member of the portfolio management team responsible for developing strategies for short- and intermediate-term fixed-income portfolios. Prior to joining Payden & Rygel, Ballantine traded corporate, asset-backed and mortgage securities at The Capital Group and worked in the fixed-income department at Fidelity Investments. David Ballantine is a member of the CFA Institute, Investment Counsel Association of America, Inc. and the Financial Planning Association. He is also a member of the Leadership of Southern California and the L.A. Works Organization. Ballantine holds the Chartered Financial Analyst designation and is a certified financial planner. He earned a BS in Business Administration from the University of New Hampshire.

Gary Greenberg

Start Date

Tenure

Tenure Rank

Feb 28, 2012

10.26

10.3%

Gary Greenberg, CFA, is a senior vice president and portfolio manager who has been with Payden & Pygel since. As a member of the firm's structured finance group, Greenberg analyzes and implements relative value opportunities in the futures and U.S. mortgage market. Prior to his current role at Payden & Rygel, he was an investment analyst with the firm‟s portfolio management group. Previously, Greenberg worked as an investment planner in the trust services department of Banker‟s Trust. He is a member of the CFA Institute and the CFA Society of Los Angeles.

Mary Syal

Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

Mary Beth Syal, CFA, is a managing principal at Payden & Rygel and a member of the Executive Committee of the board of directors. Syal is a member of the firm's Investment Policy Committee. She directs the firm‟s low duration strategies and also serves as a senior portfolio manager advising corporations, insurance companies and family offices. She is a trustee of The Payden & Rygel Investment Group, the sponsor of the Paydenfunds, for which Payden & Rygel is the investment adviser. Prior to joining Payden & Rygel, Syal was a portfolio manager and strategist at Amervest Company, Inc., where she was the co-chair of the Investment Strategy Committee. Mary Beth Syal is a member of the CFA Society of Los Angeles and the CFA Institute, the Los Angeles Association of Investment Women. In addition, she serves on the Investment Committee of the Western Province of the Religious of the Sacred Heart of Mary and is a member of the Investment Review Committee for St. Joseph Health System. Syal holds the Chartered Financial Analyst designation. She earned a BA degree in Government from Smith College in Northampton, Massachusetts.

James Sarni

Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

James Sarni is a Managing Principal. He joined Payden in 1991 and has 36 years experience in the investment management business. Sarni's primary role, as a member of the GPC and director of the Short Strategies Group, is to develop a portfolio structure that reflects both the macro mandates of the GPC and the securities that are available in the market. Together with the GPC, he has discretion over major decisions such as duration or portfolio sector weights.

Michael Salvay

Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.49 32.44 10.48 7.33

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