Fund Evaluator:
Payden Strategic Income Adv (PYSLX)
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Best Performing in Short-Term Bond Over the Last Year
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Fund Details
Payden Strategic Income Adv Overview
Payden Strategic Income Adv (PYSLX) is an actively managed Taxable Bond Short-Term Bond fund. Paydenfunds launched the fund in 2023.
The investment seeks a high level of total return combined with income generation that is consistent with preservation of capital. 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.
About Payden Strategic Income Adv (PYSLX)
There are 5 members of the management team with an average tenure of 4.22 years: Kristin Ceva (2022), Natalie Trevithick (2023), Laura Lake (2026), Timothy Crawmer (2020), Nigel Jenkins (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Payden Strategic Income Adv has 360 securities in its portfolio. The top 10 holdings constitute 99.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Payden Strategic Income Adv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Payden Strategic Income Adv has 19.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 132.0% (112.5% domestic bond, 19.4% foreign bond and 0.0% convertible bond). Payden Strategic Income Adv has -33.6% of the portfolio in cash.
Assets Under Management
The fund has $114 million in total assets, which is below the $904 million average for the Short-Term Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PYSLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Payden Strategic Income Adv expense ratio is high compared to funds in the Short-Term Bond category. Payden Strategic Income Adv has an expense ratio of 0.91%, which is 37% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Payden Strategic Income Adv has a portfolio turnover rate of 53%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of July 2026, Payden Strategic Income Adv returned -0.3%, which earned it a grade of F, as the Short-Term Bond category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Payden Strategic Income Adv has a trailing yield of 4.67%, which is above the 4.16% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Payden Strategic Income Adv Grades
Year to date, the fund has returned 0.2%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.9% over the past year (grade of D), 5.2% over the past three years (grade of B) and 2.2% per year over the past five years (grade of C) and 3.0% per year over the past 10 years (grade of A).
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PYSLX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PYSLX Return (NAV) | -0.3% | 0.1% | 2.9% | 5.2% | 2.2% | 3.0% |
| PYSLX Grade | F | D | D | B | C | A |
| +/- Category | -0.3% | -0.2% | -0.5% | 0.2% | -0.0% | 0.7% |
| Short-Term Bond Avg | -0.0% | 0.3% | 3.4% | 5.0% | 2.2% | 2.3% |
| PYSLX Tax Cost Ratio | na | na | 1.9% | na | na | na |
PYSLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PYSLX Return (NAV) | 0.2% | 6.6% | 4.8% | 7.2% | -6.8% | 1.6% | 6.1% | 8.3% | -0.7% | 4.0% | 3.6% |
| PYSLX Grade | F | A | C | A | F | A | A | A | F | A | A |
| +/- Category | -0.7% | 0.7% | -0.2% | 1.6% | -1.7% | 1.6% | 1.9% | 3.6% | -1.4% | 2.1% | 1.1% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 3.2% |
| Total Risk Index: | 0.26 - Low |
| Category Risk Index: | 1.64 - High |
| Category Risk Grade: | F (95% Rank) |
| Beta: | 0.54 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na Limited Sensitivity |
| Yield: | 4.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $178 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 53% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 6.4 years | |||
| Average Tenure: 4.2 years | |||
| Managers (Year): Crawmer Timothy (2020), Jenkins Nigel (2020), Ceva Kristin (2022), Trevithick Natalie (2023), Lake Laura (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 360 |
| % in Top 10 Holdings: | 99.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 19.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.6% |
| Domestic Bond: | 112.5% |
| Foreign Bond: | 19.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -33.6% |
Purchase Information
| Fund Family: | Paydenfunds |
| Phone Number: | 800-572-9336 |
| Website: | www.payden.com |
| Status: | Open |
| Inception Date: | November 30, 2023 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.91% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | Payden Strategic Income SI |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 0 |
