Please ensure Javascript is enabled for purposes of website accessibility
Financial Professionals

    BNY Mellon California AMT-Free Municipal Bond Fund, Inc.

    Why invest in this Fund?

    The fund seeks as high a level of current income, exempt from federal and California state income taxes, as is consistent with the preservation of capital.

    To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and California state income taxes. The fund also seeks to provide income exempt from the federal alternative minimum tax. Municipal bonds are debt securities or other obligations issued by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies and authorities, and certain other specified securities.

    Min. class investment
    $1,000,000
    Class Inception Date
    07/01/13
    Class Status
    Not available for purchase by individual investors.
    Fund Assets
    $649,816,428  As of  02/03/23
    Class Assets
    $10,101  As of  02/03/23
    Portfolio Turnover Rate
    10.45% As of fiscal year end  05/31/22
    Morningstar Category
    Municipal California Long
    Benchmark
    Bloomberg U.S. Municipal Bond Index
    Morningstar Overall Rating
    Fund Holdings
    205 As of 12/31/22
    AVERAGE EFFECTIVE MATURITY
    15.42 yr(s).  As of  12/31/22
    Modified Duration To Worst
    6.49 yr(s).  As of 12/31/22

    Morningstar Rating™ as of December 31, 2022 for the Class Y class shares; other classes may have different performance characteristics. Overall rating for the Municipal California Long category. Fund ratings are out of 5 Stars: Overall 3 Stars (103 funds rated); 3 Yrs. 3 Stars (103 funds rated); 5 Yrs. 3 Stars (96 funds rated). The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.

     

    Average Effective Maturity (AEM) is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.

    Modified Duration to Worst is a measure of the sensitivity of the price of a bond to a change in interest rates, which in this case assumes that the bond is called at its earliest possible call date (Worst). Modified duration measures the expected change in a bond's price to a 1% change in interest rates. In general, the higher the duration, the more a bond's price will drop as interest rates rise.

    Portfolio Managers

    • Thomas Casey

      Thomas Casey

      Senior Portfolio Manager, Insight North America LLC

      10 yr(s). on fund

    • Jeffrey  Burger

      Jeffrey Burger, CFA

      Senior Portfolio Manager, Insight North America, LLC

      13 yr(s). on fund


    Total Returns

    Average Annual
    As of 01/31/23
    Name 3 MO
    01/31/23
    YTD
    01/31/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon California AMT-Free Municipal Bond Fund, Inc.
    DCAYX
    7.97 2.89 -5.19 -1.38 1.13 1.97 5.25
    Average Annual
    As of 12/31/22
    Name 3 MO
    12/31/22
    YTD
    12/31/22
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon California AMT-Free Municipal Bond Fund, Inc.
    DCAYX
    3.86 -10.58 -10.58 -1.74 0.37 1.76 5.19
    Bloomberg U.S. Municipal Bond Index
    4.10 -8.53 -8.53 -0.77 1.25 2.13 -

    The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

    The total return performance figures presented for Class Y shares of the fund represent the performance of the fund's Class Z for periods prior to July 01, 2013, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different.

    Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    Growth of $10,000 Investment

    Historical Performance

      Not available for purchase by individual investors.

      Yield fluctuates and past performance is no guarantee of future results.

      Monthly yield history is the annualized distribution rate that is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.

      Investment return fluctuates and past performance is no guarantee of future results.


      Prospectus Fee Table Expense Ratios

      As of  12/01/22 Fee Description Expense Ratio (%)
      Management Fee 0.45%
      Other Expenses 0.12%
      Total Expenses 0.57%
      Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Insight North America LLC (INA), to serve as the fund's sub-investment adviser. The fund's primary portfolio managers are Jeffrey Burger, CFA and Thomas Casey, positions they have held since December 2009 and February 2012, respectively. Messrs. Burger and Casey are senior portfolio managers for tax-sensitive strategies at Insight North America LLC (INA), an affiliate of BNY Mellon Investment Adviser, Inc.

      Asset Allocation


          Daily Statistics

          As of 02/03/23 Name 30-Day Sec Yield
          (WITHOUT WAIVER)
          30-Day Sec Yield
          (WITH WAIVER)
          NAV Change 03/01/22  12 Month 
          High Nav
          10/25/22  12 Month 
          Low Nav
          YTD Return
          DCAYX
          2.69% 2.74% $13.58
          -$0.03
          -0.22%
          $14.55 $12.58 3.14%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Municipal California Long


          Morningstar Rating™ as of 12/31/22 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Municipal California Long. Fund ratings are out of 5 Stars: Overall 3 Stars (103 funds rated); 3 Yrs. 3 Stars (103 funds rated); 5 Yrs. 3 Stars (96 funds rated); 10 Yrs. Stars (69 funds rated).
          The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-,and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.

          Lipper Rankings

          • 1 Year
            56 out of 123
          • 3 Year
            73 out of 119
          • 5 Year
            76 out of 109
          • 10 Year
            out of

          LIPPER CLASSIFICATION California Municipal Debt Funds


          Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

          Main Risks

          Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.
          Municipal income may be subject to state and local taxes for out-of-state residents. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.
          Recent market risks include pandemic risks related to COVID-19. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors.

          Risk Metrics

          As of  12/31/22  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DCAYX
          7.13 -0.80 1.09 98.60 -0.33

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.


          Dividend Schedule

          Declared
          Daily
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          May 31
          Annualized Distribution Rate
          1.76%
          As of  01/2023

          Annualized distribution rate is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.

          Month/Year Dividend ($)
          01/2023 0.020934846
          12/2022 0.027959576
          11/2022 0.027506385
          10/2022 0.028260044
          09/2022 0.027304385
          08/2022 0.029135998
          07/2022 0.025757748
          06/2022 0.027895511
          05/2022 0.031871985
          04/2022 0.026139115
          03/2022 0.027188748
          02/2022 0.023815587

          All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid

          Distributions History

          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends
          Qualified 
          Dividends
          Non-Qualified 
          Short-Term 
          Capital Gain
          Qualified 
          Short-Term 
          Capital Gain
          Long-Term 
          Capital Gain
          Total 
          Distribution
          Reinvest 
          NAV
          12/22/22 12/23/22 12/23/22 0.0000 0.0000 0.0000 0.0000 0.0085 0.0085 13.23
          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends
          Qualified 
          Dividends
          Non-Qualified 
          Short-Term 
          Capital Gain
          Qualified 
          Short-Term 
          Capital Gain
          Long-Term 
          Capital Gain
          Total 
          Distribution
          Reinvest 
          NAV
          12/22/21 12/23/21 12/23/21 0.0000 0.0000 0.0018 0.0000 0.0205 0.0223 -
          12/22/20 12/23/20 12/23/20 0.0000 0.0000 0.0000 0.0000 0.0272 0.0272 -
          12/26/19 12/27/19 12/27/19 0.0000 0.0000 0.0153 0.0000 0.0254 0.0407 -
          12/27/18 12/28/18 12/28/18 0.0000 0.0000 0.0020 0.0000 0.0607 0.0627 -
          12/27/17 12/28/17 12/28/17 0.0000 0.0000 0.0086 0.0000 0.1166 0.1252 -
          12/28/16 12/29/16 12/29/16 0.0000 0.0000 0.0030 0.0000 0.0000 0.0030 -

          Literature

          PRODUCT MATERIALS

          • Download
          • Share
          • Subscribe
          • Order
          PITCHBOOK Download
          WHY MUNICIPALS ARE MORE THAN JUST TAX BENEFITS Download
          QUARTERLY COMMENTARY Download

          Factsheet, Prospectus and Reports

          • Download
          • Share
          • Subscribe
          • Order
          Factsheet Download
          Prospectus Download
          Summary Prospectus Download
          SAI Download
          Annual Report Download
          Semi Annual Report Download
          1Q Fiscal Holdings Download
          3Q Fiscal Holdings Download