BNY Mellon Global Fixed Income Fund

Why invest in this Fund?

The fund seeks to maximize total return while realizing a market level of income consistent with preserving principal and liquidity. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in U.S. dollar and non-U.S. dollar-denominated fixed-income securities of governments and companies located in various countries, including emerging markets. The fund generally invests in eight or more countries, but always invests in at least three countries, one of which may be the United States. The fund may invest up to 25% of its net assets in emerging markets generally and up to 7% of its assets in any single emerging market country.
Min. class investment
$1,000
Class Inception Date
12/02/09
Fund Assets
$3,239,139,607  As of  08/23/19
Class Assets
$59,956,862  As of  08/23/19
Portfolio Turnover Rate
99.05%  As of fiscal year end  12/31/18
Morningstar Category
World Bond-USD Hedged
Benchmark
Bloomberg Barclays Global Aggregate Index (Hedged)
Fund Holdings
360  As of  07/31/19
Average Effective Maturity
7.93  yr(s).  As of  07/31/19
Average Effective Duration
7.38  yr(s).  As of  07/31/19

Morningstar Rating™ as of July 31, 2019 for the Class C class shares; other classes may have different performance characteristics. Overall rating for the World Bond-USD Hedged category. Fund ratings are out of 5 Stars: Overall 2 Stars (64 funds rated); 3 Yrs. 2 Stars (64 funds rated); 5 Yrs. 2 Stars (58 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.

Inverted Yield Curve? Not a Problem
CNBC, 5/29/19

Portfolio Managers

  • Leduc, David C.

    David C. Leduc

    Portfolio Manager, Mellon Investments Corporation

    13 yr(s). on fund

  • Murphy, Brendan

    Brendan Murphy

    Portfolio Manager, Mellon Investments Corporation

    8 yr(s). on fund

  • Zaleski, Scott

    Scott Zaleski

    Portfolio Manager, Mellon Investments Corporation

    1 yr(s). on fund


Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Fixed Income Fund
DHGCX
5.16 1.82 2.02 3.40 5.35 12/02/09
Bloomberg Barclays Global Aggregate Index (Hedged)
8.61 3.02 3.94 4.17 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Fixed Income Fund
DHGCX
5.47 1.82 1.98 3.75 5.35 12/02/09
Bloomberg Barclays Global Aggregate Index (Hedged)
7.80 2.95 3.82 4.23 - -
Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Fixed Income Fund
DHGCX
5.16 5.56 10.54 39.72 279.31 12/02/09
Bloomberg Barclays Global Aggregate Index (Hedged)
8.61 9.33 21.32 50.52 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Fixed Income Fund
DHGCX
5.47 5.55 10.32 44.51 277.36 12/02/09
Bloomberg Barclays Global Aggregate Index (Hedged)
7.80 9.13 20.64 51.33 - -
The Bloomberg Barclays Global Aggregate Index (Hedged) is a flagship measure of global investment-grade debt from 24 local currency markets. This multi-currency benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging market issuers. Currency exposure is hedged to the U.S. dollar. Investors cannot invest directly in any index.

The total return performance figures presented for Class C shares of the fund represent the performance of the fund's Class I for periods prior to December 02, 2009, the inception date for Class C shares, and the performance of Class C, 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

    These figures do not reflect the maximum sales charge which, if included, would reduce return.

    Yearly Total Return

    Fund 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
    DHGCX
    -1.82% 3.29% 1.37% -1.34% 6.76% -0.94% 8.42% 2.56% 5.01% 15.45%

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


    Monthly Expense Ratios (Annualized)

    As of  07/31/19 Fee Description Expense Ratio (%)
    Management Fee 0.40%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.14%
    Total Expenses 1.54%

    Redemption Charge

    As of  08/25/19  Redemption Year CDSC
    Year 1 1.00
    Class C shares are subject to a contingent deferred sales charge (CDSC) imposed on Class C shares redeemed within one year of purchase.

    Prospectus Fee Table Expense Ratios

    As of  05/01/19 Fee Description Expense Ratio (%)
    Management Fee 0.40%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.14%
    Total Expenses 1.54%

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. BNY Mellon Investment Adviser, Inc. has engaged its affiliate, Mellon Investments Corporation (Mellon), to serve as the fund's subadviser. David Leduc, CFA, Brendan Murphy, CFA and Scott Zaleski are the fund's primary portfolio managers, positions they have held since August 2006, May 2011 and February 2018, respectively. Mr. Leduc is Active Fixed Income Chief Investment Officer at Mellon. Mr. Murphy is Head of Global and Multi-Sector Fixed Income at Mellon. Mr. Zaleski is a senior portfolio manager at Mellon.

    Top Holdings

    As of  07/31/19   Holdings % Portfolio  Weight
    TSY INFL IX N/B 4.07
    FNMA 30 Yr Conventional 4.0% Aug 4.03
    KOREA TREASURY BOND 2.81
    CHINA GOVERNMENT BOND 2.73
    JAPAN Government CPI LINKED 2.59
    JAPAN (20 YEAR ISSUE) 2.25
    JAPAN Government CPI LINKED 1.97
    UK TSY 3 1/4% 2044 1.87
    JAPAN Government CPI LINKED 1.82
    JAPAN Government CPI LINKED 1.79

    Asset Allocation


        Daily Statistics

        As of  08/23/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 08/15/19  12 Month 
        High Nav
        12/31/18  12 Month 
        Low Nav
        YTD Return
        DHGCX
        0.26% 0.26% $21.76
        $0.04
        0.18%
        $21.81 $20.15 7.99%

        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.

        Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.

        High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.

        The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments.

        Risk Metrics

        As of  07/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DHGCX
        2.65 -0.10 0.62 49.88 0.13

        Dividend Schedule

        Declared
        Quarterly
        Distributed
        Quarterly
        Paid
        Quarterly
        Fiscal Year End
        Dec 31
        Month/Year Dividend ($)
        12/2018 0.5525
        09/2018 0.1310
        12/2017 0.2310
        06/2017 0.0310
        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
        DHGCX
        0.5525 0.0000 0.0000 0.0000 0.0000 0.5525 20.15
        Record Date Ex-Dividend Date Payable Date
        DHGCX
        12/28/18 12/31/18 12/31/18
        (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
        DHGCX
        Final 0.5525 0.0000 0.0000 0.0000 0.0000 0.5525 20.15
        Record Date Ex-Dividend Date Payable Date
        DHGCX
        12/28/18 12/31/18 12/31/18