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Payden U.S. Government Fund
mutual fund
PYUSX
Payout Change
Pending
Price as of:
$9.34
+0.0
+0.0%
primary theme
Short-Term U.S. Treasury Note
share class
PYUSX (Mutual Fund)
Payden U.S. Government Fund
Payout Change
Pending
Price as of:
$9.34
+0.0
+0.0%
primary theme
Short-Term U.S. Treasury Note
share class
PYUSX (Mutual Fund)
Payden U.S. Government Fund
Payout Change
Pending
Price as of:
$9.34
+0.0
+0.0%
primary theme
Short-Term U.S. Treasury Note
share class
Name
As of 12/24/2024Price
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
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
$9.3
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 12/24/2024Price
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
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%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePayden U.S. Government Fund
-
Fund Family NamePaydenfunds
-
Inception DateOct 18, 1996
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid 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. |
PYUSX - Performance
Return Ranking - Trailing
| Period | PYUSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.2% | -0.4% | 7.3% | 60.76% |
| 1 Yr | 3.3% | -0.2% | 7.5% | 63.29% |
| 3 Yr | 0.3%* | -2.1% | 3.1% | 64.10% |
| 5 Yr | 0.9%* | -0.8% | 2.1% | 47.30% |
| 10 Yr | 1.1%* | -0.2% | 2.4% | 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% | 7.3% | 60.76% |
| 1 Yr | 3.3% | -0.2% | 7.5% | 63.29% |
| 3 Yr | 0.3%* | -2.1% | 3.1% | 64.10% |
| 5 Yr | 0.9%* | -0.8% | 2.1% | 47.30% |
| 10 Yr | 1.1%* | -0.2% | 2.4% | 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
- United States Treasury Note/Bond 11.13%
- United States Treasury Note/Bond 8.74%
- United States Treasury Note/Bond 8.62%
- United States Treasury Note/Bond 7.80%
- United States Treasury Note/Bond 6.46%
- United States Treasury Note/Bond 4.33%
- Fannie Mae or Freddie Mac 3.52%
- Payden Cash Reserves Money Market Fund 2.89%
- Fannie Mae Pool 2.33%
- Freddie Mac Pool 2.21%
Asset Allocation
| Weighting | Return Low | Return High | PYUSX % Rank | |
|---|---|---|---|---|
| Bonds | 100.12% | 70.16% | 130.82% | 6.33% |
| Cash | 2.89% | 0.00% | 14.15% | 25.32% |
| Stocks | 0.00% | 0.00% | 0.72% | 58.23% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 54.43% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 53.85% |
| Other | -0.11% | -29.30% | 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% | 62.82% |
| Municipal | 0.00% | 0.00% | 6.22% | 61.54% |
| Derivative | -0.11% | -0.11% | 11.49% | 100.00% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PYUSX % Rank | |
|---|---|---|---|---|
| US | 100.12% | 70.16% | 130.82% | 6.33% |
| Non US | 0.00% | 0.00% | 0.00% | 54.43% |
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% | 72.73% |
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
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.029 | OrdinaryDividend |
| Oct 31, 2024 | $0.029 | OrdinaryDividend |
| Sep 30, 2024 | $0.030 | OrdinaryDividend |
| Aug 30, 2024 | $0.030 | OrdinaryDividend |
| Jul 31, 2024 | $0.031 | OrdinaryDividend |
| Apr 30, 2024 | $0.029 | OrdinaryDividend |
| Mar 28, 2024 | $0.029 | OrdinaryDividend |
| Feb 29, 2024 | $0.028 | OrdinaryDividend |
| Jan 31, 2024 | $0.029 | OrdinaryDividend |
| Dec 29, 2023 | $0.029 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.029 | OrdinaryDividend |
| Sep 29, 2023 | $0.028 | OrdinaryDividend |
| Aug 31, 2023 | $0.028 | OrdinaryDividend |
| Jul 31, 2023 | $0.028 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.029 | OrdinaryDividend |
| Apr 28, 2023 | $0.028 | OrdinaryDividend |
| Mar 31, 2023 | $0.028 | OrdinaryDividend |
| Feb 28, 2023 | $0.024 | OrdinaryDividend |
| Jan 31, 2023 | $0.024 | OrdinaryDividend |
| Dec 30, 2022 | $0.023 | OrdinaryDividend |
| Nov 30, 2022 | $0.021 | OrdinaryDividend |
| Oct 31, 2022 | $0.019 | OrdinaryDividend |
| Sep 30, 2022 | $0.024 | OrdinaryDividend |
| Aug 31, 2022 | $0.025 | OrdinaryDividend |
| Jul 29, 2022 | $0.024 | OrdinaryDividend |
| Jun 30, 2022 | $0.022 | OrdinaryDividend |
| May 31, 2022 | $0.022 | OrdinaryDividend |
| Apr 29, 2022 | $0.021 | OrdinaryDividend |
| Mar 31, 2022 | $0.024 | OrdinaryDividend |
| Feb 28, 2022 | $0.024 | OrdinaryDividend |
| Jan 31, 2022 | $0.023 | OrdinaryDividend |
| Dec 31, 2021 | $0.019 | OrdinaryDividend |
| Nov 30, 2021 | $0.019 | OrdinaryDividend |
| Oct 29, 2021 | $0.019 | OrdinaryDividend |
| Sep 30, 2021 | $0.018 | OrdinaryDividend |
| Aug 31, 2021 | $0.018 | OrdinaryDividend |
| Jul 30, 2021 | $0.018 | OrdinaryDividend |
| Jun 30, 2021 | $0.018 | OrdinaryDividend |
| May 28, 2021 | $0.019 | OrdinaryDividend |
| Apr 30, 2021 | $0.021 | OrdinaryDividend |
| Mar 31, 2021 | $0.019 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 29, 2021 | $0.017 | OrdinaryDividend |
| Dec 31, 2020 | $0.018 | OrdinaryDividend |
| Nov 30, 2020 | $0.017 | OrdinaryDividend |
| Oct 30, 2020 | $0.018 | OrdinaryDividend |
| Sep 30, 2020 | $0.018 | OrdinaryDividend |
| Aug 31, 2020 | $0.018 | OrdinaryDividend |
| Jul 31, 2020 | $0.019 | OrdinaryDividend |
| Jun 30, 2020 | $0.020 | OrdinaryDividend |
| May 29, 2020 | $0.019 | OrdinaryDividend |
| Apr 30, 2020 | $0.021 | OrdinaryDividend |
| Mar 31, 2020 | $0.022 | OrdinaryDividend |
| Feb 28, 2020 | $0.023 | OrdinaryDividend |
| Jan 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 31, 2019 | $0.024 | OrdinaryDividend |
| Nov 29, 2019 | $0.023 | OrdinaryDividend |
| Oct 31, 2019 | $0.024 | OrdinaryDividend |
| Sep 30, 2019 | $0.024 | OrdinaryDividend |
| Aug 30, 2019 | $0.024 | OrdinaryDividend |
| Jul 31, 2019 | $0.025 | OrdinaryDividend |
| Dec 24, 2012 | $0.004 | CapitalGainShortTerm |
| Dec 24, 2012 | $0.043 | CapitalGainLongTerm |
| Dec 23, 2011 | $0.014 | CapitalGainShortTerm |
| Dec 23, 2011 | $0.195 | CapitalGainLongTerm |
| Dec 27, 2010 | $0.060 | CapitalGainShortTerm |
| Dec 27, 2010 | $0.041 | CapitalGainLongTerm |
| Dec 23, 2009 | $0.072 | CapitalGainShortTerm |
| Dec 23, 2009 | $0.055 | CapitalGainLongTerm |
| Dec 23, 2008 | $0.002 | CapitalGainShortTerm |
| Dec 23, 2008 | $0.069 | CapitalGainLongTerm |
| Dec 21, 2007 | $0.002 | CapitalGainShortTerm |
| Dec 26, 2003 | $0.046 | CapitalGainShortTerm |
| Dec 26, 2003 | $0.218 | CapitalGainLongTerm |
| Dec 26, 2002 | $0.070 | CapitalGainShortTerm |
| Dec 26, 2002 | $0.134 | CapitalGainLongTerm |
| Oct 31, 2001 | $0.040 | OrdinaryDividend |
| Sep 28, 2001 | $0.043 | OrdinaryDividend |
| Aug 31, 2001 | $0.043 | OrdinaryDividend |
| Jul 31, 2001 | $0.045 | OrdinaryDividend |
| Jun 29, 2001 | $0.044 | OrdinaryDividend |
| May 31, 2001 | $0.045 | OrdinaryDividend |
| Apr 30, 2001 | $0.045 | OrdinaryDividend |
| Mar 30, 2001 | $0.056 | OrdinaryDividend |
| Feb 28, 2001 | $0.042 | OrdinaryDividend |
| Jan 31, 2001 | $0.051 | OrdinaryDividend |
| Dec 28, 2000 | $0.048 | OrdinaryDividend |
| Nov 30, 2000 | $0.050 | OrdinaryDividend |
| Oct 31, 2000 | $0.049 | OrdinaryDividend |
| Sep 29, 2000 | $0.048 | OrdinaryDividend |
| Aug 31, 2000 | $0.049 | OrdinaryDividend |
| Jul 31, 2000 | $0.049 | OrdinaryDividend |
| Jun 30, 2000 | $0.048 | OrdinaryDividend |
| May 31, 2000 | $0.049 | OrdinaryDividend |
| Apr 28, 2000 | $0.049 | OrdinaryDividend |
| Mar 31, 2000 | $0.062 | OrdinaryDividend |
| Feb 28, 2000 | $0.046 | OrdinaryDividend |
| Jan 28, 2000 | $0.040 | OrdinaryDividend |
| Dec 28, 1999 | $0.061 | OrdinaryDividend |
| Nov 29, 1999 | $0.046 | OrdinaryDividend |
| Oct 28, 1999 | $0.053 | OrdinaryDividend |
| Sep 29, 1999 | $0.049 | OrdinaryDividend |
| Aug 30, 1999 | $0.050 | OrdinaryDividend |
| Jul 29, 1999 | $0.047 | OrdinaryDividend |
| Jun 29, 1999 | $0.050 | OrdinaryDividend |
| May 27, 1999 | $0.044 | OrdinaryDividend |
| Apr 29, 1999 | $0.044 | OrdinaryDividend |
| Mar 30, 1999 | $0.050 | OrdinaryDividend |
| Feb 25, 1999 | $0.050 | OrdinaryDividend |
| Jan 28, 1999 | $0.031 | OrdinaryDividend |
| Dec 30, 1998 | $0.059 | OrdinaryDividend |
| Dec 28, 1998 | $0.043 | CapitalGainShortTerm |
| Dec 28, 1998 | $0.015 | CapitalGainLongTerm |
| Nov 27, 1998 | $0.047 | OrdinaryDividend |
| Oct 29, 1998 | $0.057 | OrdinaryDividend |
| Sep 29, 1998 | $0.041 | OrdinaryDividend |
| Aug 28, 1998 | $0.044 | OrdinaryDividend |
| Jul 30, 1998 | $0.049 | OrdinaryDividend |
| Jun 29, 1998 | $0.048 | OrdinaryDividend |
| May 28, 1998 | $0.047 | OrdinaryDividend |
| Apr 29, 1998 | $0.052 | OrdinaryDividend |
| Mar 30, 1998 | $0.047 | OrdinaryDividend |
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 |
