Historical Prices

Start Date End Date

BNY Mellon High Yield Municipal Bond Fund

Why invest in this Fund?

The primary goal of the fund is to seek high current income exempt from federal income tax. As a secondary goal, the fund may seek capital appreciation to the extent consistent with its primary goal. To pursue these goals, 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 income tax. The fund normally invests at least 50% of its assets in municipal bonds rated BBB/Baa or lower by independent rating agencies or the unrated equivalent as determined by the manager. Municipal bonds rated below investment grade (BB/Ba or lower) are commonly known as "high yield" or "junk" bonds.
Min. class investment
$0
Class Inception Date
09/30/05
Class Status
Class Z shares are closed to new accounts.
Fund Assets
$375,166,034  As of  07/30/21
Class Assets
$54,032,330  As of  07/30/21
Portfolio Turnover Rate
69.21%  As of fiscal year end  08/31/20
Morningstar Category
High Yield Municipal
Benchmark
Bloomberg Barclays U.S. Municipal Bond Index
Morningstar Overall Rating
Fund Holdings
198  As of  06/30/21
Average Effective Maturity
19.41  yr(s).  As of  06/30/21
Average Effective Duration
9.25  yr(s).  As of  06/30/21

Morningstar Rating™ as of June 30, 2021 for the Class Z class shares; other classes may have different performance characteristics. Overall rating for the High Yield Municipal category. Fund ratings are out of 5 Stars: Overall 3 Stars (182 funds rated); 3 Yrs. 3 Stars (182 funds rated); 5 Yrs. 4 Stars (151 funds rated); 10 Yrs. 3 Stars (103 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. ©2021 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

  • Burger, Jeffrey

    Jeffrey Burger

    Senior Portfolio Manager, Mellon Investments Corporation

    10 yr(s). on fund

  • Barton, Daniel

    Daniel Barton

    Portfolio Manager, Senior Analyst for Tax-Sensitive Strategies, Mellon Investments Corporation

    9 yr(s). on fund


As of  06/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHMBX
13.14 5.73 5.00 6.22 5.12 09/30/05
As of  06/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHMBX
13.14 5.73 5.00 6.22 5.12 09/30/05
Bloomberg Barclays U.S. Municipal Bond Index
4.17 5.10 3.25 4.28 - -
As of  06/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHMBX
13.14 18.19 27.64 82.76 119.48 09/30/05
As of  06/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHMBX
13.14 18.19 27.64 82.76 119.48 09/30/05
Bloomberg Barclays U.S. Municipal Bond Index
4.17 16.10 17.34 52.13 - -
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.

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

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

    Class Z shares are closed to new accounts.

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

    Fund 07/21 06/21 05/21 04/21 03/21 02/21 01/21 12/20 11/20 10/20 09/20 08/20
    DHMBX
    0.00% 3.17% 3.07% 3.16% 3.41% 3.42% 3.45% 3.50% 3.51% 3.62% 3.64% 3.57%

    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 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
    DHMBX
    2.83% 10.11% 1.64% 13.10% 0.52% 5.24% 12.99% -6.48% 13.08% 8.48%

    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: 1.37%

    Combined Effective Federal Income Tax Rate

     

    As of  07/30/21
    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 High Yield Municipal Bond Fund
    DHMBX
    1.90% 2.04% 2.17% 2.24% 2.42%

    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: 1.37%

    Combined Effective Federal Income Tax Rate

     

    As of  07/30/21
    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 High Yield Municipal Bond Fund
    DHMBX
    1.90% 2.04% 2.17% 2.24% 2.42%

    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  12/31/20 Fee Description Expense Ratio (%)
    Management Fee 0.45%
    12B-1 Fee 0.09%
    Other Expenses 0.22%
    Total Expenses 0.76%
    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.
    BNY Mellon Investment Adviser, Inc. has contractually agreed, until December 31, 2021, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of Class A, Class C, Class I, Class Y and Class Z shares of the fund (including Rule 12b-1 fees, shareholder services fees, taxes, brokerage commissions, interest expenses, commitment fees on borrowings and extraordinary expenses) do not exceed an annual rate of .95%, 1.68%, .68%, .67% and .76%, respectively. On or after December 31, 2021, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

    Portfolio Manager/Sub-Investment Adviser

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). Daniel Barton, CFA and Jeffrey Burger, CFA are the fund's primary portfolio managers, positions they have held since February 2012 and November 2011, respectively. Mr. Barton is a director and head of research for tax exempt bonds at Mellon Investments Corporation (Mellon), an affiliate of BNYM Investment Adviser. Mr. Burger is a director and senior portfolio manager for tax-sensitive strategies at Mellon. Messrs. Barton and Burger also are employees of BNYM Investment Adviser.
    Please see prospectus for recent announcement regarding the sub-adviser.

    Asset Allocation


        Daily Statistics

        As of  07/30/21 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)
        30-Day Sec Yield 
        (WITH WAIVER)
        NAV Change 07/27/21  12 Month 
        High Nav
        10/20/20  12 Month 
        Low Nav
        YTD Return
        DHMBX
        1.37% 1.37% $13.30
        $0.00
        0.00%
        $13.32 $12.26 6.57%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY High Yield Municipal


        Morningstar Rating™ as of 06/30/21 for the Class Z shares; other classes may have different performance characteristics. Overall rating for the High Yield Municipal. Fund ratings are out of 5 Stars: Overall 3 Stars (182 funds rated); 3 Yrs. 3 Stars (182 funds rated); 5 Yrs. 4 Stars (151 funds rated); 10 Yrs. 3 Stars (103 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
          26 out of 187
        • 3 Year
          105 out of 173
        • 5 Year
          31 out of 141
        • 10 Year
          36 out of 99

        LIPPER CLASSIFICATION


        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.
        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.
        Municipal income may be subjectto 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  06/30/21, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DHMBX
        9.22 -3.00 2.03 76.82 0.52

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Aug 31
        Month/Year Dividend ($)
        07/2021 0.030728731
        06/2021 0.034372385
        05/2021 0.030773553
        04/2021 0.033646448
        03/2021 0.039573231
        02/2021 0.033327128
        01/2021 0.035477867
        12/2020 0.037817042
        11/2020 0.037440697
        10/2020 0.036571711
        09/2020 0.036817764
        08/2020 0.037556784
        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
        DHMBX
        0.0000 0.0000 0.0078 0.0000 0.0000 0.0078 12.07
        Record Date Ex-Dividend Date Payable Date
        DHMBX
        12/27/18 12/28/18 12/28/18