Payden Limited Maturity Fund
PAYDEN & RYGEL INVESTMENT GROUP · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Payden Limited Maturity Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks a total return that, over time, is greater than returns of money market funds and is consistent with preservation of capital.
The fund invests primarily in investment-grade debt securities across government, corporate, mortgage-backed, municipal, and convertible instruments, with up to 10% in below-investment-grade debt, maintaining an average portfolio maturity of at most two and one-half years. The adviser may use derivatives and currency positions to hedge or gain exposure to market sectors. Because the fund's selection depends on the adviser's credit quality assessments and maturity judgments, performance will diverge from any broad debt benchmark.
| Share class | Gross | Net |
|---|---|---|
| PYLMX | 0.51% | 0.30% |
| PYLSX | 0.51% | 0.25% |
| PYLBX | 0.71% | 0.55% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 60.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 53.87% |
| Securitized | 43.86% |
| Cash & short-term | 2.11% |
| Loans | 1.05% |
| 2 smaller | 0.01% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 43.5% |
| Government | 19.2% |
| Other | 12.7% |
| Financials | 12.0% |
| 11 smaller | 12.6% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×6, Essential Utilities Inc, SALESFORCE INC
Largest exited: TREASURY BILL ×4, US TREASURY N/B, NATIONAL RURAL UTIL COOP, JEFFERIES FIN GROUP INC, VOLKSWAGEN GROUP AMERICA
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.61% | +17.64% | +20.53% | 0.60% | -0.06% | |
| +4.79% | +17.83% | — | 0.56% | -0.05% | |
| +4.39% | — | — | 0.58% | — |
These classes hold the same portfolio, so the 0.40pp spread over 1 year is the cost difference between them — roughly 0.40pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 47.8% |
| Floating rate | 35.3% |
| Zero-coupon or unclassified | 16.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 22.6% |
| 1-3y | 36.3% |
| 3-5y | 10.2% |
| 5-10y | 8.9% |
| 10y+ | 22.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 64% |
| Interest rates | 36% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.13 yr |
| High yield | +0.11 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 4% |
| 1 yr | 0.04 yr | 5% |
| 5 yr | 0.52 yr | 75% |
| 10 yr | 0.04 yr | 6% |
| 30 yr | 0.07 yr | 10% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.03 yr | 3% |
| 5 yr | 0.65 yr | 53% |
| 10 yr | 0.15 yr | 12% |
| 30 yr | 0.40 yr | 32% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.00 | +0.00 | $30 | $25 |
| 1 yr | +0.04 | +0.03 | +0.00 | $7.0k | $420 |
| 5 yr | +0.52 | +0.59 | +0.06 | $127.8k | $13.6k |
| 10 yr | +0.04 | +0.14 | +0.01 | $29.8k | $2.1k |
| 30 yr | +0.07 | +0.37 | +0.03 | $80.0k | $6.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-07-23 | 3.43% | — | $74.38M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-06-18 | 2.98% | — | $64.69M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-06-04 | 2.76% | — | $59.80M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-07-07 | 2.75% | — | $59.60M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · due 2029-02-15 | 1.92% | — | $41.65M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-07-16 | 1.83% | — | $39.70M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-05-21 | 1.61% | — | $34.93M | — |
| PYFIX | PAYDEN & RYGEL INVESTMENT GROUP (THE)PYFIX | 1.20% | $9.55 | $26.03M | 2.7M |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-08-18 | 1.14% | — | $24.73M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · due 2029-01-15 | 1.00% | — | $21.63M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 20.61% of net assets, top 25 28.38%, across 429 issuers.
See more of this fund's book
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