PYLWX Fees and Costs — Payden Low Duration Fund, (Adviser Class)
Data updated: 2026-09-23
The net expense ratio is 0.68%: a 0.28% management fee, a 0.25% 12b-1 fee plus 0.26% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $53K in broker commissions, 0.0059% of average net assets, and portfolio turnover was 98%.
PYLWX Fees and Expenses
Annual operating expenses and sales charges of PYLWX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.26% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.68% |
| 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 |
PYLWX Costs Over Time
On $10,000 invested in PYLWX, assuming 5% a year before costs, total costs come to $432 over 5 years, cutting the return by 0.72% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $72 | $237 | $432 |
| Value after costs | $10,428 | $11,340 | $12,331 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
PYLWX 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): 0.0059%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): $2.8B
- Portfolio turnover (prospectus): 98%
- Securities on loan, average value: $1.8M
- Net income from securities lending: $6K (0.001% of average net assets)
PYLWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $53K | 98.61% |
| UBS SECURITIES LLC | $745 | 1.39% |
PYLWX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $371.0M | 15.96% |
| BARCLAYS CAPITAL, INC. | $336.3M | 14.47% |
| J.P. Morgan Securities LLC | $278.2M | 11.97% |
| GOLDMAN SACHS & CO. LLC | $239.9M | 10.32% |
| MUFG SECURITIES AMERICAS INC. | $226.9M | 9.76% |
| TRUIST SECURITIES, INC. | $224.2M | 9.65% |
| BNP PARIBAS SECURITIES CORP. | $217.5M | 9.36% |
| RBC CAPITAL MARKETS, LLC | $182.5M | 7.85% |
| CitiGroup Global Markets Inc. | $160.5M | 6.91% |
| WELLS FARGO SECURITIES, LLC | $87.1M | 3.75% |
Payden Low Duration Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PYLDX | (SI Class) | 0.38% | — |
| PYSBX | (Investor Class) | 0.43% | — |
| PYLWX | (Adviser Class) | 0.68% | — |
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.