PYVAX: Payden Equity Income Fund - MutualFunds.com
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Payden Equity Income Adviser

PYVAX - Snapshot

Vitals

  • YTD Return 15.4%
  • 3 Yr Annualized Return 10.5%
  • 5 Yr Annualized Return 11.1%
  • Net Assets $1.74 B
  • Holdings in Top 10 23.5%

52 WEEK LOW AND HIGH

$20.65
$15.12
$20.79

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.99%

SALES FEES

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

BROKERAGE FEES

  • Turnover 63.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000
  • IRA $2,000

Fund Classification


Compare PYVAX to Popular U.S. Large-Cap Value Equity Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$140.61

+0.72%

$120.52 B

1.63%

$2.27

18.20%

0.04%

$54.87

+0.73%

$120.52 B

-

$0.00

18.18%

0.17%

$241.83

+1.16%

$81.06 B

1.43%

$3.41

25.59%

0.52%

$50.86

+0.67%

$78.88 B

1.62%

$0.82

14.01%

0.60%

$52.22

+0.77%

$61.86 B

0.86%

$0.44

16.43%

0.83%

PYVAX - Profile

Distributions

  • YTD Total Return 15.4%
  • 3 Yr Annualized Total Return 10.5%
  • 5 Yr Annualized Total Return 11.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.91%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Payden Equity Income Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Dec 01, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Wong

Fund Description

The fund invests primarily in large capitalization value stocks, defined as stocks with above average dividend yields and large market capitalizations, and other income producing equity securities, including by way of example, preferred stocks, real estate investment trusts and master limited partnerships. It invests principally in U.S. securities, but may invest up to 30% of its total assets in foreign securities, including companies organized or headquartered in emerging markets.


PYVAX - Performance

Return Ranking - Trailing

Period PYVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% -41.7% 36.7% 76.92%
1 Yr 30.7% -11.4% 99.9% 92.48%
3 Yr 10.5%* -1.8% 23.6% 67.21%
5 Yr 11.1%* 3.2% 21.6% 69.45%
10 Yr 11.3%* 0.8% 16.8% 24.46%

* Annualized

Return Ranking - Calendar

Period PYVAX Return Category Return Low Category Return High Rank in Category (%)
2020 -1.3% -26.7% 285.0% 56.33%
2019 21.7% -32.1% 76.3% 32.52%
2018 -9.4% -62.4% 16.7% 10.07%
2017 8.0% -72.0% 37.9% 57.85%
2016 11.0% -61.4% 31.0% 43.22%

Total Return Ranking - Trailing

Period PYVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% -41.7% 36.7% 76.92%
1 Yr 30.7% -11.4% 99.9% 90.06%
3 Yr 10.5%* -1.8% 23.6% 62.72%
5 Yr 11.1%* 2.8% 21.6% 65.74%
10 Yr 11.3%* 0.6% 16.8% 22.80%

* Annualized

Total Return Ranking - Calendar

Period PYVAX Return Category Return Low Category Return High Rank in Category (%)
2020 -1.3% -26.7% 285.0% 56.33%
2019 21.7% -32.1% 76.3% 32.78%
2018 -9.4% -37.1% 17.4% 36.33%
2017 8.0% -9.5% 37.9% 87.40%
2016 11.0% -27.9% 32.2% 70.74%

NAV & Total Return History


PYVAX - Holdings

Concentration Analysis

PYVAX Category Low Category High PYVAX % Rank
Net Assets 1.74 B 390 K 121 B 32.95%
Number of Holdings 90 2 1673 44.20%
Net Assets in Top 10 384 M 202 K 26.6 B 37.83%
Weighting of Top 10 23.51% 5.5% 100.0% 68.40%

Top 10 Holdings

  1. JPMorgan Chase & Co 2.85%
  2. Apple Inc 2.73%
  3. Goldman Sachs Group Inc 2.62%
  4. Morgan Stanley 2.52%
  5. Comcast Corp Class A 2.36%
  6. Truist Financial Corp 2.35%
  7. Qualcomm Inc 2.33%
  8. Digital Realty Trust Inc 2.32%
  9. Citigroup Inc 2.32%
  10. Bank of America Corp 2.25%

Asset Allocation

Weighting Return Low Return High PYVAX % Rank
Stocks
98.50% 51.79% 147.05% 48.37%
Bonds
0.76% -3.65% 36.30% 3.84%
Cash
0.34% -47.04% 23.57% 76.06%
Other
0.21% -1.63% 26.80% 3.43%
Preferred Stocks
0.19% 0.00% 14.98% 9.97%
Convertible Bonds
0.00% 0.00% 8.69% 41.67%

Stock Sector Breakdown

Weighting Return Low Return High PYVAX % Rank
Financial Services
26.38% 0.00% 56.11% 14.36%
Healthcare
14.00% 0.00% 33.68% 46.92%
Industrials
11.70% 0.00% 45.96% 59.89%
Energy
10.10% 0.00% 24.05% 6.64%
Technology
9.01% 0.00% 54.02% 78.59%
Consumer Defense
6.09% 0.00% 30.04% 75.31%
Consumer Cyclical
6.01% 0.00% 31.91% 70.55%
Basic Materials
5.06% 0.00% 25.80% 18.05%
Real Estate
4.75% 0.00% 97.80% 15.01%
Communication Services
4.24% 0.00% 27.29% 80.89%
Utilities
2.66% 0.00% 26.67% 69.98%

Stock Geographic Breakdown

Weighting Return Low Return High PYVAX % Rank
US
94.88% 26.40% 145.38% 47.71%
Non US
3.62% 0.00% 45.20% 49.43%

Bond Sector Breakdown

Weighting Return Low Return High PYVAX % Rank
Derivative
84.64% 0.00% 84.64% 0.17%
Corporate
11.31% 0.00% 100.00% 12.66%
Cash & Equivalents
4.05% 0.00% 100.00% 95.98%
Securitized
0.00% 0.00% 43.76% 38.64%
Municipal
0.00% 0.00% 0.25% 38.64%
Government
0.00% 0.00% 100.00% 40.49%

Bond Geographic Breakdown

Weighting Return Low Return High PYVAX % Rank
US
0.76% -0.15% 124.12% 3.59%
Non US
0.00% -127.77% 6.36% 39.71%

PYVAX - Expenses

Operational Fees

PYVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.99% 0.01% 15.68% 48.45%
Management Fee 0.50% 0.00% 1.69% 35.40%
12b-1 Fee 0.25% 0.00% 1.00% 38.78%
Administrative Fee 0.15% 0.01% 0.50% 68.60%

Sales Fees

PYVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

PYVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 3.85%

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.

PYVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 63.00% 0.00% 481.00% 64.36%

PYVAX - Distributions

Dividend Yield Analysis

PYVAX Category Low Category High PYVAX % Rank
Dividend Yield 0.00% 0.00% 2.48% 45.65%

Dividend Distribution Analysis

PYVAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

PYVAX Category Low Category High PYVAX % Rank
Net Income Ratio 1.91% -3.83% 5.26% 44.77%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

PYVAX - Fund Manager Analysis

Managers

James Wong


Start Date

Tenure

Tenure Rank

Feb 27, 2009

12.18

12.2%

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.

Scott Weiner


Start Date

Tenure

Tenure Rank

Feb 28, 2020

1.17

1.2%

Scott Weiner, PhD, is a managing principal at Payden & Rygel and a member of the Executive Committee that manages the firm. Weiner is also a member of the firm’s Investment Policy Committee which directs investment strategy and monitors the risk controls for the firm and its clients. As a frequent speaker at industry forums, he specializes in topics relating to asset allocation, risk management and international investing. Prior to joining Payden & Rygel, Weiner was a senior strategy member of the investment arm of First Interstate. More previously, he was with Goldman Sachs in New York as one of the strategists in the 1980s developing expertise in the mortgage market. Scott Weiner earned a PhD in Pharmaceutical Chemistry from the University of California, San Francisco focusing on theoretical macromolecular biophysical chemistry. He received an AB degree in Mathematics from Occidental College in Los Angeles.

Michael Salvay


Start Date

Tenure

Tenure Rank

Feb 28, 2020

1.17

1.2%

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.

Alfred Giles


Start Date

Tenure

Tenure Rank

Feb 28, 2020

1.17

1.2%

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.

Micheal Huynh


Start Date

Tenure

Tenure Rank

Feb 28, 2020

1.17

1.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 85.51 6.99 15.34