PYUSX Fees and Costs — Payden U.S. Government Fund, (Investor Class)
Data updated: 2026-09-23
The net expense ratio is 0.43% (0.69% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5K in broker commissions, 0.0077% of average net assets, and portfolio turnover was 76%.
PYUSX Fees and Expenses
Annual operating expenses and sales charges of PYUSX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | — |
| Other expenses | 0.41% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.43% |
| 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 |
PYUSX Costs Over Time
On $10,000 invested in PYUSX, assuming 5% a year before costs, total costs come to $277 over 5 years, cutting the return by 0.46% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $1 | $3 | $4 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $151 | $277 |
| Value after costs | $10,454 | $11,425 | $12,486 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
PYUSX 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): 0.0077%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $64.0M
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
PYUSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $4K | 86.06% |
| UBS SECURITIES LLC | $447 | 8.71% |
| CITIGROUP GLOBAL MARKETS INC. | $268 | 5.23% |
PYUSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $14.8M | 24.29% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $12.4M | 20.34% |
| MORGAN STANLEY & CO. LLC | $12.2M | 19.94% |
| BMO CAPITAL MARKETS CORP. | $6.1M | 10.05% |
| NATWEST MARKETS SECURITIES INC. | $4.4M | 7.18% |
| GOLDMAN SACHS & CO. LLC | $3.5M | 5.77% |
| RBC CAPITAL MARKETS, LLC | $3.0M | 4.92% |
| CitiGroup Global Markets Inc. | $2.5M | 4.11% |
| DAIWA CAPITAL MARKETS AMERICA, INC. | $1.1M | 1.77% |
| PERSHING LLC | $1000K | 1.64% |
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.