Historical Prices

Start Date End Date

BNY Mellon Municipal Bond Fund

  • TICKER DRTAX
  • Fund Code 0054
  • CUSIP 05588B104
  • SHARE CLASS Single Share Class

Why invest in this Fund?

The fund seeks to maximize current income exempt from federal income tax, to the extent consistent with the preservation of capital.

To pursue this goal, the fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal personal income tax.

The fund invests at least 75% of its assets in municipal bonds rated A or higher or the unrated equivalent as determined by the manager.
Min. class investment
$1,000
Class Inception Date
10/04/76
Fund Assets
$1,205,076,709  As of  10/22/20
Class Assets
$1,205,076,709  As of  10/22/20
Portfolio Turnover Rate
14.49%  As of fiscal year end  08/31/19
Morningstar Category
Municipal National Intermediate
Benchmark
Bloomberg Barclays U.S. Municipal Bond Index
Morningstar Overall Rating
Fund Holdings
237  As of  09/30/20
Average Effective Maturity
17.31  yr(s).  As of  09/30/20
Average Effective Duration
4.86  yr(s).  As of  09/30/20

Morningstar Rating™ as of September 30, 2020 for the Single Share Class class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 4 Stars (240 funds rated); 3 Yrs. 4 Stars (240 funds rated); 5 Yrs. 4 Stars (218 funds rated); 10 Yrs. 4 Stars (160 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. ©2018 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.

Portfolio Managers

  • Marques, Daniel

    Daniel Marques

    Senior Portfolio Manager, Mellon Investments Corporation

    11 yr(s). on fund

  • Rabasco, Daniel

    Daniel Rabasco

    Portfolio Manager, Mellon Investments Corporation

    8 yr(s). on fund


As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Municipal Bond Fund
DRTAX
2.88 3.69 3.53 3.78 5.39 10/04/76
Bloomberg Barclays U.S. Municipal Bond Index
4.09 4.28 3.84 3.99 - -
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Municipal Bond Fund
DRTAX
2.88 3.69 3.53 3.78 5.39 10/04/76
Bloomberg Barclays U.S. Municipal Bond Index
4.09 4.28 3.84 3.99 - -
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Municipal Bond Fund
DRTAX
2.88 11.50 18.95 44.91 906.45 10/04/76
Bloomberg Barclays U.S. Municipal Bond Index
4.09 13.39 20.76 47.94 - -
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Municipal Bond Fund
DRTAX
2.88 11.50 18.95 44.91 906.45 10/04/76
Bloomberg Barclays U.S. Municipal Bond Index
4.09 13.39 20.76 47.94 - -
The Bloomberg Barclays U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

Growth of $10,000 Investment

Historical Performance

    Fund 09/20 08/20 07/20 06/20 05/20 04/20 03/20 02/20 01/20 12/19 11/19 10/19
    DRTAX
    2.50% 2.50% 2.53% 2.57% 2.64% 2.71% 2.65% 2.53% 2.49% 2.55% 2.65% 2.62%

    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.

    Fund 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
    DRTAX
    7.77% 0.46% 5.67% -0.27% 3.60% 10.51% -3.56% 7.31% 10.36% 1.05%

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

    Taxable Equivalent Yield Based on the Fund's 30-day SEC Yield

    30-Day SEC Yield With Waiver: 1.27%

    Combined Effective Federal Income Tax Rate

     

    As of  10/22/20
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon Municipal Bond Fund
    DRTAX
    1.76% 1.90% 2.01% 2.08% 2.24%

    Income is subject to state and local taxes, and some portion may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are fully taxable.

    30-Day SEC Yield Without Waiver: 1.27%

    Combined Effective Federal Income Tax Rate

     

    As of  10/22/20
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon Municipal Bond Fund
    DRTAX
    1.76% 1.90% 2.01% 2.08% 2.24%

    Income is subject to state and local taxes, and some portion may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are fully taxable.

    Restated yields do not reflect current undertaking in effect, which may be modified, extended, or terminated at any time.


    Prospectus Fee Table Expense Ratios

    As of  12/31/19 Fee Description Expense Ratio (%)
    Management Fee 0.60%
    Shareholder Service Fees 0.05%
    Other Expenses 0.08%
    Total Expenses 0.73%
    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 Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. The fund's primary portfolio managers are Daniel Marques and Daniel Rabasco, positions they have held since December 2009 and February 2012, respectively. Mr. Marques is a senior portfolio manager for institutional accounts and Director of Individual Portfolio Management at Mellon Investments Corporation (Mellon), an affiliate of BNY Mellon Investment Adviser, Inc. Mr. Rabasco is the Chief Investment Officer for Tax-Sensitive Fixed Income at Mellon. Mellon investment professionals manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.

    Asset Allocation


        Daily Statistics

        As of  10/22/20 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)
        30-Day Sec Yield 
        (WITH WAIVER)
        NAV Change 03/09/20  12 Month 
        High Nav
        03/20/20  12 Month 
        Low Nav
        YTD Return
        DRTAX
        1.27% 1.27% $11.92
        $0.00
        0.00%
        $12.30 $10.84 1.93%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Municipal National Intermediate


        Morningstar Rating™ as of 09/30/20 for the Single Share Class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall 4 Stars (618 funds rated); 3 Yrs. 4 Stars (240 funds rated); 5 Yrs. 4 Stars (218 funds rated); 10 Yrs. 4 Stars (160 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
          111 out of 269
        • 3 Year
          136 out of 241
        • 5 Year
          110 out of 220
        • 10 Year
          91 out of 163

        LIPPER CLASSIFICATION General & Insured 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. 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  09/30/20, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DRTAX
        4.76 -0.96 1.16 95.17 0.45

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Aug 31
        Annualized Distribution Rate
        2.50%
        As of  09/2020
        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 ($)
        09/2020 0.024621814
        08/2020 0.025507868
        07/2020 0.025841233
        06/2020 0.026692152
        05/2020 0.024495846
        04/2020 0.025327892
        03/2020 0.027009512
        02/2020 0.023821217
        01/2020 0.025698833
        12/2019 0.026944046
        11/2019 0.025268806
        10/2019 0.026700042
        All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.

        Distributions History

        (Values Listed In $) 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
        DRTAX
        0.0000 0.0000 0.0029 0.0000 0.0878 0.0907 11.94
        Record Date Ex-Dividend Date Payable Date
        DRTAX
        12/26/19 12/27/19 12/27/19
        (Values Listed In $) Distribution Status 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
        DRTAX
        Final 0.0000 0.0000 0.0029 0.0000 0.0878 0.0907 11.94
        Record Date Ex-Dividend Date Payable Date
        DRTAX
        12/26/19 12/27/19 12/27/19