PYSIX Fees and Costs — Payden Strategic Income Fund, (SI Class)
Data updated: 2026-09-23
The net expense ratio is 0.56%: a 0.55% management fee plus 0.39% other expenses, less a 0.39% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $28K in broker commissions, 0.0175% of average net assets, and portfolio turnover was 40%.
PYSIX Fees and Expenses
Annual operating expenses and sales charges of PYSIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.39% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.39% |
| Net expense ratio | 0.56% |
| 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 |
PYSIX Costs Over Time
On $10,000 invested in PYSIX, assuming 5% a year before costs, total costs come to $364 over 5 years, cutting the return by 0.61% 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 0.56%) | $59 | $184 | $321 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $61 | $199 | $364 |
| Value after costs | $10,439 | $11,377 | $12,399 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
PYSIX 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): 0.0175%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $181.9M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $6K (0.004% of average net assets)
PYSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $27K | 97.63% |
| CITIGROUP GLOBAL MARKETS INC. | $590 | 2.14% |
| J.P. MORGAN SECURITIES LLC | $64 | 0.23% |
PYSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $37.9M | 24.23% |
| BMO CAPITAL MARKETS CORP. | $36.9M | 23.60% |
| J.P. Morgan Securities LLC | $16.8M | 10.72% |
| RBC CAPITAL MARKETS, LLC | $11.5M | 7.38% |
| WELLS FARGO SECURITIES, LLC | $10.2M | 6.50% |
| CitiGroup Global Markets Inc. | $10.1M | 6.45% |
| GOLDMAN SACHS & CO. LLC | $10.0M | 6.40% |
| MORGAN STANLEY & CO. LLC | $9.6M | 6.16% |
| BARCLAYS CAPITAL, INC. | $7.4M | 4.75% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $6.0M | 3.82% |
Payden Strategic Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PYSIX | (SI Class) | 0.56% | — |
| PYSGX | (Investor Class) | 0.66% | — |
| PYSLX | (Adviser Class) | 0.91% | — |
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.