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
$1,000
Class Inception Date
03/15/07
Fund Assets
$336,490,274  As of  05/14/21
Class Assets
$135,359,325  As of  05/14/21
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
178  As of  03/31/21
Average Effective Maturity
19.84142294  yr(s).  As of  03/31/21
Average Effective Duration
9.43728598  yr(s).  As of  03/31/21

Morningstar Rating™ as of April 30, 2021 for the Class A 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 (180 funds rated); 3 Yrs. 3 Stars (180 funds rated); 5 Yrs. 4 Stars (152 funds rated); 10 Yrs. 3 Stars (101 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


Click here to see SALES CHARGE  Max Sales Charge:  4.50% Front End Load
As of  04/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHYAX
20.18 5.79 5.16 6.18 4.92 03/15/07
As of  03/31/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHYAX
14.26 5.44 5.10 6.17 4.85 03/15/07
Bloomberg Barclays U.S. Municipal Bond Index
5.51 4.91 3.49 4.54 - -
Click here to see SALES CHARGE  Max Sales Charge:  4.50% Front End Load
As of  04/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHYAX
20.18 18.38 28.57 82.22 111.18 03/15/07
As of  03/31/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Municipal Bond Fund
DHYAX
14.26 17.23 28.21 81.97 108.23 03/15/07
Bloomberg Barclays U.S. Municipal Bond Index
5.51 15.47 18.72 55.84 - -
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.

The total return performance figures presented for Class A shares of the fund represent the performance of the fund's Class Z for periods prior to March 15, 2007, the inception date for Class A shares, and the performance of Class A, 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.

    Fund 04/21 03/21 02/21 01/21 12/20 11/20 10/20 09/20 08/20 07/20 06/20 05/20
    DHYAX
    2.88% 3.12% 3.12% 3.15% 3.19% 3.22% 3.32% 3.31% 3.26% 3.20% 3.33% 3.68%

    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
    DHYAX
    2.75% 9.95% 1.51% 12.94% 0.39% 5.14% 12.97% -6.57% 12.90% 8.53%

    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: 1.71%

    Combined Effective Federal Income Tax Rate

     

    As of  05/14/21
    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
    DHYAX
    2.38% 2.55% 2.71% 2.79% 3.02%

    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: 1.71%

    Combined Effective Federal Income Tax Rate

     

    As of  05/14/21
    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
    DHYAX
    2.38% 2.55% 2.71% 2.79% 3.02%

    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%
    Service Fee 0.25%
    Other Expenses 0.22%
    Total Expenses 0.92%
    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.

    Sales Charge

    Investment Amount Sales Charge
    Less than $50,000 4.50%
    Less than $100,000 4.00%
    Less than $250,000 3.00%
    Over $250,000 0.00%
    There is a 1% CDSC for purchases of $1,000,000 and over if redeemed within one year of purchase.

    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  05/14/21 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)
        30-Day Sec Yield 
        (WITH WAIVER)
        NAV Change 02/12/21  12 Month 
        High Nav
        06/01/20  12 Month 
        Low Nav
        YTD Return
        DHYAX
        1.71% 1.71% $13.01
        $0.01
        0.08%
        $13.05 $11.61 3.32%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY High Yield Municipal


        Morningstar Rating™ as of 04/30/21 for the Class A 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 (180 funds rated); 3 Yrs. 3 Stars (180 funds rated); 5 Yrs. 4 Stars (152 funds rated); 10 Yrs. 3 Stars (101 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
          17 out of 189
        • 3 Year
          92 out of 171
        • 5 Year
          31 out of 142
        • 10 Year
          45 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  04/30/21, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DHYAX
        9.28 -3.27 2.03 76.99 0.51

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Aug 31
        Annualized Distribution Rate
        2.88%
        As of  04/2021
        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 ($)
        04/2021 0.032166743
        03/2021 0.037889573
        02/2021 0.031977841
        01/2021 0.034028443
        12/2020 0.036180682
        11/2020 0.035938871
        10/2020 0.035130896
        09/2020 0.035147013
        08/2020 0.035946824
        07/2020 0.035191244
        06/2020 0.036978223
        05/2020 0.035509978
        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
        DHYAX
        0.0000 0.0000 0.0078 0.0000 0.0000 0.0078 12.09
        Record Date Ex-Dividend Date Payable Date
        DHYAX
        12/27/18 12/28/18 12/28/18