PYGNX Fees and Costs — Payden GNMA Fund, (Investor Class)
Data updated: 2026-09-23
The net expense ratio is 0.45% (0.66% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0019% of average net assets, and portfolio turnover was 23%.
PYGNX Fees and Expenses
Annual operating expenses and sales charges of PYGNX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.27% |
| 12b-1 fee | — |
| Other expenses | 0.39% |
| Gross expense ratio | 0.66% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.45% |
| 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 |
PYGNX Costs Over Time
On $10,000 invested in PYGNX, assuming 5% a year before costs, total costs come to $286 over 5 years, cutting the return by 0.47% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $286 |
| Value after costs | $10,453 | $11,420 | $12,477 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
PYGNX 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): 0.0019%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $545.7M
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $0
- Net income from securities lending: $0 (0.000% of average net assets)
PYGNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $1K | 79.74% |
| CITIGROUP GLOBAL MARKETS INC. | $362 | 20.26% |
PYGNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $356.5M | 65.50% |
| MORGAN STANLEY & CO. LLC | $107.1M | 19.68% |
| J.P. Morgan Securities LLC | $69.4M | 12.76% |
| CANTOR FITZGERALD & CO. | $2.6M | 0.48% |
| BNP PARIBAS SECURITIES CORP. | $1.9M | 0.34% |
| STONEX FINANCIAL INC. | $1.7M | 0.31% |
| GOLDMAN SACHS & CO. LLC | $1.3M | 0.25% |
| TD SECURITIES (USA) LLC | $1.3M | 0.25% |
| PNC INVESTMENTS | $1.3M | 0.23% |
| BARCLAYS CAPITAL, INC. | $1.1M | 0.19% |
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.