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Trending ETFs

Name

As of 06/21/2024

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

$10.36

$848 M

6.14%

$0.64

0.72%

Vitals

YTD Return

2.9%

1 yr return

11.0%

3 Yr Avg Return

-2.1%

5 Yr Avg Return

0.6%

Net Assets

$848 M

Holdings in Top 10

12.6%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.72%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 63.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000,000

IRA

$10,000,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

$10.36

$848 M

6.14%

$0.64

0.72%

PYEIX - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return -2.1%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.23%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden Emerging Markets Bond Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Apr 09, 2012
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kristin Ceva

Fund Description

ª
The Fund invests in a wide variety of debt instruments and income-producing securities. These include (1) 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); (2) debt securities, loans and commercial paper issued by U.S. and foreign companies; and (3) convertible bonds and preferred stock.
ª
Under normal market conditions, the Fund invests at least 80% of its total assets in debt securities and similar debt instruments issued by governments, agencies and instrumentalities of emerging market countries (or economically linked with such securities), and other issuers organized, headquartered or principally located in emerging market countries. Generally, an “emerging market country” is any country which the International Monetary Fund, the World Bank, the International Finance Corporation or the United Nations defines as having an emerging or developing economy.
ª
The Fund may invest up to 20% of its total assets in other debt securities and similar debt instruments, including those of issuers located in countries with developed securities markets.
ª
Under normal market conditions, the Fund invests a substantial portion of its total assets in debt securities of issuers whose securities are rated below investment grade. Investment grade debt securities are rated within 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 invests a majority of its assets in debt securities payable in U.S. dollars, but will also invest in debt securities payable in foreign currencies.
ª
Permitted investments also include currencies and derivative instruments (including, but not limited to, spot and currency contracts, futures, options and swaps) used to hedge or gain exposure to the securities markets of emerging market countries or currencies.
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.
ª
The Fund may invest up to 10% of its total assets in equity securities of U.S. or foreign issuers, and may use derivatives to hedge or to gain exposure to such equity markets.
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).
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PYEIX - Performance

Return Ranking - Trailing

Period PYEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -5.5% 9.5% 34.90%
1 Yr 11.0% -6.3% 21.1% 23.49%
3 Yr -2.1%* -14.4% 4.0% 56.45%
5 Yr 0.6%* -9.5% 6.0% 40.44%
10 Yr 2.7%* -6.2% 4.9% 12.72%

* Annualized

Return Ranking - Calendar

Period PYEIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -10.6% 17.8% 47.99%
2022 -23.3% -29.1% -2.4% 87.15%
2021 -7.6% -24.0% 2.7% 54.93%
2020 1.0% -14.0% 9.7% 48.73%
2019 10.1% -6.4% 13.0% 18.08%

Total Return Ranking - Trailing

Period PYEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -5.5% 9.5% 34.90%
1 Yr 11.0% -6.3% 21.1% 23.49%
3 Yr -2.1%* -14.4% 4.0% 56.45%
5 Yr 0.6%* -9.5% 6.0% 40.44%
10 Yr 2.7%* -6.2% 4.9% 12.72%

* Annualized

Total Return Ranking - Calendar

Period PYEIX Return Category Return Low Category Return High Rank in Category (%)
2023 12.4% -0.6% 20.0% 46.64%
2022 -17.4% -27.6% -1.7% 82.29%
2021 -2.4% -18.5% 7.4% 38.03%
2020 6.2% -7.8% 18.0% 34.55%
2019 16.5% -3.0% 23.0% 8.86%

NAV & Total Return History


PYEIX - Holdings

Concentration Analysis

PYEIX Category Low Category High PYEIX % Rank
Net Assets 848 M 565 K 14.8 B 27.52%
Number of Holdings 320 4 1779 41.28%
Net Assets in Top 10 106 M -134 M 1.25 B 36.91%
Weighting of Top 10 12.60% 5.1% 102.0% 86.78%

Top 10 Holdings

  1. Payden Cash Reserves Money Market Fund 2.00%
  2. Republic of South Africa Government International Bond 1.51%
  3. Colombia Government International Bond 1.44%
  4. Peru Government Bond 1.23%
  5. Brazil Notas do Tesouro Nacional Serie F 1.22%
  6. Costa Rica Government International Bond 1.09%
  7. Czech Republic Government Bond 1.07%
  8. Abu Dhabi Crude Oil Pipeline LLC 1.07%
  9. Peruvian Government International Bond 1.02%
  10. Romanian Government International Bond 0.96%

Asset Allocation

Weighting Return Low Return High PYEIX % Rank
Bonds
96.94% 0.00% 105.14% 27.52%
Cash
2.97% 0.00% 23.05% 68.12%
Convertible Bonds
0.38% 0.00% 8.47% 37.97%
Other
0.09% -10.19% 87.32% 35.91%
Stocks
0.00% -0.01% 95.82% 89.60%
Preferred Stocks
0.00% 0.00% 3.04% 84.56%

Bond Sector Breakdown

Weighting Return Low Return High PYEIX % Rank
Government
67.00% 0.00% 99.79% 47.12%
Corporate
14.97% 0.00% 91.26% 55.93%
Cash & Equivalents
2.00% 0.00% 23.23% 54.36%
Derivative
0.09% -5.25% 8.09% 23.83%
Securitized
0.00% 0.00% 2.41% 89.49%
Municipal
0.00% 0.00% 0.00% 84.07%

Bond Geographic Breakdown

Weighting Return Low Return High PYEIX % Rank
US
80.70% -42.31% 100.14% 46.31%
Non US
16.24% 0.00% 132.49% 51.34%

PYEIX - Expenses

Operational Fees

PYEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.02% 32.92% 86.87%
Management Fee 0.45% 0.00% 1.10% 6.04%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.02% 0.65% 73.33%

Sales Fees

PYEIX 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 1.00% 4.00% N/A

Trading Fees

PYEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 51.58%

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.

PYEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 63.00% 0.00% 218.00% 64.75%

PYEIX - Distributions

Dividend Yield Analysis

PYEIX Category Low Category High PYEIX % Rank
Dividend Yield 6.14% 0.00% 22.22% 23.83%

Dividend Distribution Analysis

PYEIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PYEIX Category Low Category High PYEIX % Rank
Net Income Ratio 5.23% -2.28% 8.00% 9.28%

Capital Gain Distribution Analysis

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

Distributions History

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PYEIX - Fund Manager Analysis

Managers

Kristin Ceva


Start Date

Tenure

Tenure Rank

Dec 17, 1998

23.47

23.5%

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.

Brian Matthews


Start Date

Tenure

Tenure Rank

Dec 17, 1998

23.47

23.5%

Brian Matthews, CFA, is a managing principal and the chief financial officer at Payden & Rygel, and is a member of the Executive Committee of the board of directors. Matthews is a member of the firm’s Investment Policy Committee and serves as a senior portfolio manager advising institutional clients, including corporations, pension funds, insurance companies and foundations and endowments. He is a director of Metzler/Payden LLC, the firm’s joint venture with Metzler Bank of Frankfurt, Germany. Matthews is also co-chairman of Payden/Kravitz LLC, a joint venture specializing in cash balance retirement plans. Prior to joining Payden & Rygel, Matthews was an investment officer at Brown Brothers Harriman & Company in New York, where he was responsible for managing fixed-income portfolios and asset/liability management. Matthews is a member of the CFA Society of Los Angeles, the CFA Institute and the Investment Counsel Association of America, Inc. He is past chairman of the board of directors for the Boy Scouts of America Los Angeles Area Council and serves on the board of directors for Oaks Christian School, St. Anne’s, Kids in Sports, and the board of visitors for Pepperdine University and is a board member of the Patron of the Arts in the Vatican Museums. Brian Matthews holds the Chartered Financial Analyst designation. He earned a BS in Economics at the University of Notre Dame.

Nigel Jenkins


Start Date

Tenure

Tenure Rank

Oct 07, 2011

10.65

10.7%

Nigel Jenkins is a Managing Principal and portfolio manager who has been with Payden & Rygel since 2006. who is responsible for the management of UK and European benchmarked fixed-income and money market portfolios. Prior to joining Payden & Rygel, Jenkins was a founding partner of Centric Capital LLP, a fixed-income and currency hedge fund focusing on quantitative methodologies. Previously he was head of global fixed-income at WestLB, and a director of the fixed income & currency group at Rothschild Asset Management, both in London. Jenkins holds the ASIP designation of the UK Society of Investment Professionals, a member society of the CFA Institute. He earned a MA degree in Economics from the University of Cambridge.

Arthur Hovsepian


Start Date

Tenure

Tenure Rank

Feb 28, 2013

9.26

9.3%

Arthur Hovsepian, CFA, is a Principal and portfolio manager at Payden & Rygel. He is responsible for implementing investment strategies and executing trades in emerging markets. Arthur analyzes sovereign yield curves to identify relative value opportunities. He also monitors firm-wide emerging-market local debt and currency exposure. Arthur has been with Payden since 2004.

Asha Joshi


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Asha Joshi is a Managing Principal, Senior Portfolio Manager and director of Enhanced Equity Index Strategies. She is responsible for a number of domestic and international clients, including public plans, corporations, universities, and endowments. Previously, Joshi was Vice President, Capital Markets, at Canadian Imperial Bank of Commerce where she advised clients on managing interest rate and currency risk. Prior to that, she was a Vice President, Global Trading, at First Interstate Bank, Ltd. where she managed and traded the bank’s portfolio of derivative products. Joshi also serves on the board of Crystal Stairs, a non-profit organization dedicated to assisting welfare families while the mother transitions into the workforce. She is Chairman of the Scholarship Committee of the Los Angeles Society of Financial Analysts and is a member of the Association of Investment Management and Research (AIMR).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.48 6.11