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BNY Mellon Ultra Short Income Fund
- TICKER DSYDX
- Fund Code 0550
- CUSIP 05588T303
- SHARE CLASS
Why invest in this Fund?
The fund seeks high current income consistent with the maintenance of liquidity and low volatility of principal. The fund is designed to provide a high degree of share price stability while generating higher returns than money market funds over time and, thus, may be an investment alternative to money market funds and other fixed-income funds.
Min. class investment
$10,000,000
Class Inception Date
11/15/13
Class Status
Not available for purchase by individual investors.
Fund Assets
$59,624,856
As of
10/22/21
Class Assets
$2,277,002
As of
10/22/21
Portfolio Turnover Rate
0.00%
As of fiscal year end
11/30/20
Morningstar Category
Ultrashort Bond
Benchmark
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
Fund Holdings
21 As of
09/30/21
Morningstar Rating™ as of September 30, 2021 for the Institutional Shares class shares; other classes may have different performance characteristics. Overall rating for the Ultrashort Bond category. Fund ratings are out of 5 Stars: Overall 2 Stars (213 funds rated); 3 Yrs. 2 Stars (213 funds rated); 5 Yrs. 2 Stars (168 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.
Total Returns
Month End
| Average Annual As of 09/30/21 |
|||||||
|---|---|---|---|---|---|---|---|
| Name | 3 MO 09/30/21 |
YTD 09/30/21 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
|
BNY Mellon Ultra Short Income Fund
DSYDX | 0.00 | -0.07 | -0.06 | 1.17 | 1.30 | 0.66 | 3.94 |
|
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
| 0.01 | 0.04 | 0.07 | 1.18 | 1.16 | 0.63 | - |
Quarter End
| Average Annual As of 09/30/21 |
|||||||
|---|---|---|---|---|---|---|---|
| Name | 3 MO 09/30/21 |
YTD 09/30/21 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
|
BNY Mellon Ultra Short Income Fund
DSYDX | 0.00 | -0.07 | -0.06 | 1.17 | 1.30 | 0.66 | 3.94 |
|
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
| 0.01 | 0.04 | 0.07 | 1.18 | 1.16 | 0.63 | - |
The ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each month-end rebalancing is the outstanding Treasury bill that matures closest to, but not beyond, three months from the rebalancing date. To qualify for selection, an issue must have settled on or before the month-end rebalancing date. Investors cannot invest directly in any index.
The total return performance figures presented for Institutional Shares shares of the fund represent the performance of the fund's Class Z for periods prior to November 15, 2013, the inception date for Institutional Shares shares, and the performance of Institutional Shares, 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.
Monthly
| Fund | 09/21 | 08/21 | 07/21 | 06/21 | 05/21 | 04/21 | 03/21 | 02/21 | 01/21 | 12/20 | 11/20 | 10/20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
DSYDX
|
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.05% |
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.
Yearly
| Fund | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|
|
DSYDX
|
0.58% | 2.41% | 2.07% | 1.24% | 0.43% | -0.29% | 0.34% | -0.03% | -0.10% | 0.88% |
Investment return fluctuates and past performance is no guarantee of future results.
Prospectus Fee Table Expense Ratios
| As of 03/31/21 Fee Description | Expense Ratio (%) |
|---|---|
| Management Fee | 0.25% |
| Other Expenses | 0.33% |
| Total Expenses | 0.58% |
| Expenses Reimbursed | 0.38% |
| Net Expenses | 0.20% |
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 March 31, 2022 to waive receipt of a portion of its management fees in the amount of 0.05% of the value of the fund's average daily net assets. On or after March 31, 2022, BNY Mellon Investment Adviser, Inc. may terminate this waiver agreement at any time. BNY Mellon Investment Adviser, Inc. has contractually agreed, until March 31, 2022, to waive receipt of its fees and/or assume the direct expenses attributable to Institutional shares of the fund so that the direct expenses of Institutional shares (excluding taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed 0.20%. On or after March 31, 2022, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.
The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until March 31, 2022 to waive receipt of a portion of its management fees in the amount of 0.05% of the value of the fund's average daily net assets. On or after March 31, 2022, BNY Mellon Investment Adviser, Inc. may terminate this waiver agreement at any time. BNY Mellon Investment Adviser, Inc. has contractually agreed, until March 31, 2022, to waive receipt of its fees and/or assume the direct expenses attributable to Institutional shares of the fund so that the direct expenses of Institutional shares (excluding taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed 0.20%. On or after March 31, 2022, 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. Investment decisions for the fund are made by members of the Taxable Fixed Income team of CIS. The team members are Bernard W. Kiernan, Jr., Edward J. Von Sauers, James G. O'Connor, Thomas S. Riordan and Peter Henshaw. Messrs. Kiernan, Von Sauers, O'Connor and Riordan have each been a primary portfolio manager of the fund since May 2017 and Mr. Henshaw has been a primary portfolio manager of the fund since March 2020. Mr. Kiernan is a Senior Vice President and Senior Portfolio Manager for CIS. Mr. Von Sauers is an Executive Vice President and Senior Portfolio Manager for CIS. Mr. O'Connor is a Senior Portfolio Manager for CIS. Mr. Riordan is a Senior Vice President and Senior Portfolio Manager for CIS. Mr. Henshaw is a Vice President and Co-Head of Money Market Trading for CIS.
Asset Allocation
Daily Statistics
| As of 10/22/21 Name | 30-Day Sec Yield (WITHOUT WAIVER) |
30-Day Sec Yield (WITH WAIVER) |
NAV | Change | 06/28/21
12 Month High Nav |
06/29/21
12 Month Low Nav |
YTD Return |
|---|---|---|---|---|---|---|---|
|
DSYDX
|
-0.62% | -0.09% | $10.02 |
$0.00
0.00%
|
$10.09 | $10.02 | -0.07% |
Main Risks
Bond Risk: Bonds are subject generally 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.
Credit Risk: High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal uponmaturity.
Derivatives Risk: A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investingdirectly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value.
Foreign Investment Risk: To the extent the fund invests in foreign securities, its performance will be influenced by political, socialand economic factors affecting investments in foreign companies. These special risks include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability, and differing auditing and legal standards.
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.
Credit Risk: High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal uponmaturity.
Derivatives Risk: A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investingdirectly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value.
Foreign Investment Risk: To the extent the fund invests in foreign securities, its performance will be influenced by political, socialand economic factors affecting investments in foreign companies. These special risks include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability, and differing auditing and legal standards.
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 09/30/21 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
|---|---|---|---|---|---|
|
DSYDX
|
0.35 | 0.08 | 0.01 | 5.92 | 1.03 |
All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Aggregate Bond Index.
Dividend Schedule
Declared
Daily
Distributed
Monthly
Paid
Monthly
Fiscal Year End
Nov 30
| Month/Year | Dividend ($) |
|---|---|
| 09/2021 | 0.000000000 |
| 08/2021 | 0.000000000 |
| 07/2021 | 0.000000000 |
| 06/2021 | 0.000000000 |
| 05/2021 | 0.000000000 |
| 04/2021 | 0.000000000 |
| 03/2021 | 0.000000000 |
| 02/2021 | 0.000000000 |
| 01/2021 | 0.000000000 |
| 12/2020 | 0.000016484 |
| 11/2020 | 0.000231998 |
| 10/2020 | 0.000406803 |
All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.
Distributions History
| Record Date | Ex-Dividend Date | Payable Date | 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 |
|---|---|---|---|---|---|---|---|---|---|
| 06/28/21 | 06/29/21 | 06/29/21 | - | 0.0000 | 0.0633 | 0.0000 | 0.0000 | 0.0633 | 10.02 |
