BNY Mellon U.S. Mortgage Fund, Inc.

Why invest in this Fund?

The fund seeks to maximize total return, consisting of capital appreciation and current income. To pursue its goal, the fund normally invests at least 80% of its net assets in mortgage-related securities. These mortgage-related securities may include certificates issued, and guaranteed as to timely payment of principal and interest, by the Government National Mortgage Association (GNMA); securities issued by government-related organizations such as Fannie Mae and Freddie Mac; residential and commercial mortgage-backed securities issued by governmental agencies or private entities; and collateralized mortgage obligations (CMOs). The fund will invest at least 65% of its net assets in Ginnie Maes. The fund can invest in privately issued mortgage-backed securities with a "BBB" or higher credit quality, but currently intends to invest in only those securities with an "A" or higher credit quality.

Min. class investment
$1,000
Class Inception Date
08/31/16
Class Status
Not available for purchase by individual investors.
Fund Assets
$317,600,815  As of  08/16/19
Class Assets
$3,903,310  As of  08/16/19
Portfolio Turnover Rate
45.72%  As of fiscal year end  04/30/19
Morningstar Category
Intermediate Government
Benchmark
Bloomberg Barclays GNMA Index
Fund Holdings
84  As of  07/31/19
Average Effective Maturity
5.33  yr(s).  As of  07/31/19
Average Effective Duration
3.75  yr(s).  As of  07/31/19

As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon U.S. Mortgage Fund, Inc.
GPNIX
5.74 1.25 1.81 2.76 5.62 08/31/16
Bloomberg Barclays GNMA Index
6.41 1.99 2.52 3.25 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon U.S. Mortgage Fund, Inc.
GPNIX
5.31 1.22 1.62 2.83 5.62 08/31/16
Bloomberg Barclays GNMA Index
6.08 1.95 2.34 3.33 - -
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon U.S. Mortgage Fund, Inc.
GPNIX
5.74 3.79 9.40 31.29 547.06 08/31/16
Bloomberg Barclays GNMA Index
6.41 6.08 13.26 37.69 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon U.S. Mortgage Fund, Inc.
GPNIX
5.31 3.69 8.38 32.18 544.54 08/31/16
Bloomberg Barclays GNMA Index
6.08 5.98 12.26 38.76 - -
The Bloomberg Barclays GNMA Index tracks agency mortgage-backed pass-through securities guaranteed by Ginnie Mae (GNMA). The index is constructed by grouping individual TBA-deliverable MBS pools into aggregates or generics based on program, coupon and vintage. Investors cannot invest directly in any index.

The total return performance figures presented for Class I shares of the fund represent the performance of the fund's Class Z for periods prior to August 31, 2016, the inception date for Class I shares, and the performance of Class I, 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.
    Fund 07/19 06/19 05/19 04/19 03/19 02/19 01/19 12/18 11/18 10/18 09/18 08/18
    GPNIX
    2.21% 2.86% 2.54% 2.49% 2.24% 2.24% 3.30% 1.87% 2.37% 2.06% 2.20% 2.03%

    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 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
    GPNIX
    0.27% 1.02% 1.14% 0.89% 4.38% -2.38% 2.53% 7.26% 6.48% 6.03%

    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 0.50%
    Other Expenses 0.25%
    Total Expenses 0.75%
    Expenses Reimbursed 0.10%
    Net Expenses 0.65%
    During the period, Dreyfus absorbed a portion of the fund's expenses. This arrangement may be modified at any time.

    Prospectus Fee Table Expense Ratios

    As of  05/10/19 Fee Description Expense Ratio (%)
    Management Fee 0.50%
    Other Expenses 0.33%
    Total Expenses 0.83%

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. and the fund's sub-investment adviser is Amherst Capital Management LLC (Amherst Capital). Prior to June 29, 2018, Amherst Capital was an affiliate of BNY Mellon Investment Adviser, Inc. Karen Gemmett and Eric Seasholtz are the fund's co-primary portfolio managers, positions they have held since December 2016. Ms. Gemmett is a director and portfolio manager at Amherst Capital responsible for residential mortgage-backed securities research and analysis. Mr. Seasholtz is a director and portfolio manager at Amherst Capital.

    Asset Allocation


        Daily Statistics

        As of  08/16/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 08/15/19  12 Month 
        High Nav
        11/08/18  12 Month 
        Low Nav
        YTD Return
        GPNIX
        2.41% 2.50% $14.99
        -$0.01
        -0.07%
        $15.00 $14.22 5.03%

        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.

        Mortgage securities: Ginnie Maes and other securities backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Privately issued mortgage related securities also are subject to credit risks associated with the underlying mortgage properties. These securities may be more volatile and less liquid than more traditional, government backed debt securities.

        Risk Metrics

        As of  07/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        GPNIX
        2.02 -0.71 0.63 92.71 -0.14

        Dividend Schedule

        Declared
        Monthly
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Apr 30
        Annualized Distribution Rate
        2.21%
        As of  07/2019
        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 ($)
        07/2019 0.035000000
        06/2019 0.028000000
        05/2019 0.035000000
        04/2019 0.032000000
        03/2019 0.030000000
        02/2019 0.028000000
        01/2019 0.025000000
        12/2018 0.040900000
        11/2018 0.023000000
        10/2018 0.028000000
        09/2018 0.025000000
        08/2018 0.026000000
        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
        GPNIX
        0.0350 0.0000 0.0000 0.0000 0.0000 0.0350 14.93
        Record Date Ex-Dividend Date Payable Date
        GPNIX
        07/31/19 08/01/19 08/01/19
        (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
        GPNIX
        Final 0.0409 0.0000 0.0000 0.0000 0.0000 0.0409 14.37
        Record Date Ex-Dividend Date Payable Date
        GPNIX
        12/11/18 12/12/18 12/12/18