Morningstar

Payden California Municipal Scl Imp Adv PYCLX

Morningstar Medalist Rating
Medalist Rating as of | See Payden Investment Hub
  • NAV / 1-Day Return 10.01  /  −0.37 %
  • Total Assets 163.8 Mil
  • Adj. Expense Ratio
    0.700%
  • Expense Ratio 0.700%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category Muni California Intermediate
  • Credit Quality / Interest Rate Sensitivity High/Moderate
  • Min. Initial Investment 5,000
  • Status Open
  • TTM Yield —
  • Effective Duration 5.37 years

USD | NAV as of Oct 05, 2024 | 1-Day Return as of Oct 05, 2024, 1:13 AM GMT+0

Morningstar’s Analysis PYCLX

Will PYCLX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PYCLX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PYCLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PYCLX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Payden California Municipal Scl Imp Adv boasts strong People and Process Pillar ratings, but other weaknesses hold this strategy's Morningstar Medalist Rating at Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-costliest quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings PYCLX

More PYCLX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 29.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Cash Offset- Futures

19.59 31.3 Mil
Cash and Equivalents

United States Treasury Notes 4.125%

6.41 10.2 Mil
Government

LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV 5%

5.71 9.1 Mil
municipal

SACRAMENTO CALIF AREA FLOOD CTL AGY 5%

2.99 4.8 Mil
municipal

SAN DIEGO CNTY CALIF REGL TRANSN COMMN SALES TAX REV 5%

2.96 4.7 Mil
municipal

CALIFORNIA ST 5%

2.37 3.8 Mil
municipal

SAN BERNARDINO CALIF CMNTY COLLEGE DIST 5%

2.15 3.4 Mil
municipal

Payden Cash Reserves Money Market

2.07 3.3 Mil
Cash and Equivalents

CALIFORNIA HSG FIN AGY MULTIFAMILY TAX-EXEMPT MTG-BKD BDS 3.75%

1.88 3.0 Mil
municipal

MODESTO CALIF WTR REV CTFS PARTN 2.35%

1.82 2.9 Mil
municipal

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