PYBLX Fees and Costs — Payden Floating Rate Fund, (Adviser Class)
Data updated: 2026-09-23
The net expense ratio is 0.96%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.45% other expenses, less a 0.30% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 33%.
PYBLX Fees and Expenses
Annual operating expenses and sales charges of PYBLX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.45% |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.30% |
| Net expense ratio | 0.96% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PYBLX Costs Over Time
On $10,000 invested in PYBLX, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.96%) | $101 | $315 | $546 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,162 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
PYBLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $129.5M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $543K
- Net income from securities lending: $4K (0.003% of average net assets)
PYBLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $34.4M | 29.34% |
| GOLDMAN SACHS & CO. LLC | $17.8M | 15.13% |
| BOFA SECURITIES, INC. | $16.7M | 14.22% |
| JEFFERIES LLC | $10.7M | 9.15% |
| MORGAN STANLEY & CO. LLC | $8.2M | 6.99% |
| CitiGroup Global Markets Inc. | $6.9M | 5.84% |
| BARCLAYS CAPITAL, INC. | $6.8M | 5.80% |
| DEUTSCHE BANK SECURITIES, INC. | $6.4M | 5.44% |
| WELLS FARGO SECURITIES, LLC | $5.0M | 4.24% |
| RBC CAPITAL MARKETS, LLC | $4.5M | 3.86% |
Payden Floating Rate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PYFIX | (SI Class) | 0.61% | — |
| PYFRX | (Investor Class) | 0.71% | — |
| PYBLX | (Adviser Class) | 0.96% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.