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BNY Mellon Equity Income Fund

Overview

Why invest in this Fund?

The fund seeks total return (consisting of capital appreciation and income). This objective may be changed by the fund's board, upon 60 days' prior notice to shareholders.

To pursue its goal, the fund normally invests at least 80% of its net assets in equity securities. The fund seeks to focus on dividend-paying stocks and other investments and investment techniques that provide income.

Min. class investment
$1,000,000
Class Inception Date
07/01/13
Class Status
Not available for purchase by individual investors.
Fund Assets
$988,287,893  As of  02/24/20
Class Assets
$2,851,650  As of  02/24/20
Portfolio Turnover Rate
29.56%  As of fiscal year end  05/31/19
Morningstar Category
Large Value
Benchmark
S&P 500(r) Index
Morningstar Overall Rating
Fund Holdings
108  As of  01/31/20

Morningstar Rating™ as of January 31, 2020 for the Class Y class shares; other classes may have different performance characteristics. Overall rating for the Large Value category. Fund ratings are out of 5 Stars: Overall 4 Stars (1090 funds rated); 3 Yrs. 4 Stars (1090 funds rated); 5 Yrs. 4 Stars (941 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

  • Yao, Chris

    Chris Yao

    Mellon Investments Corporation

    1 yr(s). on fund

  • Goslin, Peter

    Peter Goslin

    Portfolio Manager, Mellon Investments Corporation

    5 yr(s). on fund

  • Zamil, Syed A.

    Syed A. Zamil

    CFA, Portfolio Manager, Mellon Investments Corporation

    3 yr(s). on fund

Performance

Average Annual Returns

Month End

As of  01/31/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Equity Income Fund
DQIYX
 14.81 11.39 9.97 12.53 8.23 07/01/13
S&P 500(r) Index
 21.68 14.54 12.37 13.97 - -

Quarter End

As of  12/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Equity Income Fund
DQIYX
 24.99 12.47 9.98 12.34 8.47 07/01/13
S&P 500(r) Index
 31.49 15.27 11.70 13.56 - -

Cumulative Returns

Month End

As of  01/31/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Equity Income Fund
DQIYX
 14.81 38.20 60.83 225.55 192.55 07/01/13
S&P 500(r) Index
 21.68 50.26 79.17 269.82 - -

Quarter End

As of  12/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Equity Income Fund
DQIYX
 24.99 42.25 60.93 220.02 199.41 07/01/13
S&P 500(r) Index
 31.49 53.17 73.86 256.66 - -
The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

The total return performance figures presented for Class Y shares of the fund represent the performance of the fund’s Class A shares for periods prior to July 1, 2013, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class’ sales load and distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been lower. 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

The total return performance figures presented for Class Y shares of the fund represent the performance of the fund’s Class A shares for periods prior to July 1, 2013, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class’ sales load and distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been lower. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

Historical Performance

    Not available for purchase by individual investors.

    The total return performance figures presented for Class Y shares of the fund represent the performance of the fund’s Class A shares for periods prior to July 1, 2013, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class’ sales load and distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been lower. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    Yearly Total Return

    Yearly

    Fund 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
    DQIYX
    		 24.99% -3.32% 17.72% 17.27% -3.54% 12.31% 30.35% 9.56% 10.19% 12.53%

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

    Fees & Expenses

    Prospectus Fee Table Expense Ratios

    As of  10/17/19 Fee Description Expense Ratio (%)
    Management Fee 0.70%
    Other Expenses 0.07%
    Total Expenses 0.77%
    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.
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until September 30, 2020, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .78%. On or after September 30, 2020, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation at any time.
    Portfolio

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc (BNYM Investment Adviser). The fund is managed by a team of portfolio managers employed by BNY Mellon Investment Adviser and Mellon Investments Corporation (Mellon), an affiliate of BNYM Investment Adviser. The team members who are jointly and primarily responsible for managing the fund's portfolio are Peter D. Goslin, CFA, Syed A. Zamil, CFA and Chris Yao, CFA. Messrs. Goslin, Zamil and Yao have been primary portfolio managers of the fund since February 2015, March 2017 and December 2019, respectively. Mr. Goslin is a director and senior portfolio manager at Mellon, where he leads the Multi-Factor Equity team. Mr. Zamil is a managing director and global investment strategist for the Multi-Factor Equity team at Mellon. Mr. Yao is head of Equity Quantitative research at Mellon. Mellon investment professionals manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.

    Top Holdings

    As of  01/31/20   Holdings % Portfolio  Weight
    Apple 4.90
    Microsoft 4.69
    AT&T 3.65
    Amazon.com 3.15
    Bristol-Myers Squibb 2.71
    JP Morgan Chase & Co. 2.58
    Altria Group 2.52
    Philip Morris International 2.45
    Intel 2.34
    Western Union 2.21

    Asset Allocation

        Stats & Risks

        Daily Statistics

        As of  02/24/20 Name NAV Change 02/12/20  12 Month 
        High Nav        		 05/31/19  12 Month 
        Low Nav        		 YTD Return
        DQIYX
        		 $20.74
        -$0.68
        -3.17%
        		 $21.81 $18.25 0.34%

        Performance Metrics

        Overall Morningstar Rating

        MORNINGSTAR CATEGORY Large Value

        Morningstar Rating™ as of 01/31/20 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Large Value. Fund ratings are out of 5 Stars: Overall 4 Stars (2719 funds rated); 3 Yrs. 4 Stars (1090 funds rated); 5 Yrs. 4 Stars (941 funds rated); 10 Yrs. Stars (688 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
          244 out of 527
        • 3 Year
          109 out of 475
        • 5 Year
          93 out of 409
        • 10 Year
          out of

        LIPPER CLASSIFICATION Equity Income 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

        Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.

        Risk Metrics

        As of  01/31/20, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DQIYX
        		 12.39 -2.53 0.98 91.85 0.79
        Distributions

        Dividend Schedule

        Declared
        Monthly
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        May 31
        Year Dividend ($) Capital Gains ($)
        2020 0.0309 0.0000
        2019 0.5360 0.0000
        2018 0.5010 0.4247
        2017 0.4906 1.1157
        2016 0.5869 0.1256
        2015 0.5186 1.0716
        2014 0.5019 0.4847
        2013 0.2366 0.1759
        There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

        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
        DQIYX
        		 0.0000 0.0309 0.0000 0.0000 0.0000 0.0309 21.00
        Record Date Ex-Dividend Date Payable Date
        DQIYX
        		 01/31/20 02/03/20 02/03/20
        (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
        DQIYX
        		 Final 0.0000 0.0820 0.0000 0.0000 0.0000 0.0820 20.62
        Record Date Ex-Dividend Date Payable Date
        DQIYX
        		 12/03/19 12/04/19 12/04/19
        Literature