BNY Mellon Ultra Short Income Fund

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
$0
Class Inception Date
04/06/87
Class Status
Class Z shares are closed to new accounts.
Fund Assets
$95,668,920  As of  08/16/19
Class Assets
$53,907,347  As of  08/16/19
Portfolio Turnover Rate
0.00%  As of fiscal year end  11/30/18
Morningstar Category
Ultrashort Bond
Benchmark
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
Fund Holdings
36  As of  07/31/19

Morningstar Rating™ as of July 31, 2019 for the Class Z 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 (151 funds rated); 3 Yrs. 2 Stars (151 funds rated); 5 Yrs. 1 Stars (129 funds rated); 10 Yrs. 2 Stars (57 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.


As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Ultra Short Income Fund
DSIGX
2.18 1.39 0.61 0.69 4.12 04/06/87
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
2.34 1.44 0.91 0.51 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Ultra Short Income Fund
DSIGX
2.15 1.34 0.54 0.70 4.13 04/06/87
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
2.31 1.38 0.87 0.49 - -
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Ultra Short Income Fund
DSIGX
2.18 4.23 3.09 7.16 268.75 04/06/87
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
2.34 4.37 4.62 5.17 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Ultra Short Income Fund
DSIGX
2.15 4.06 2.75 7.17 268.03 04/06/87
ICE BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
2.31 4.21 4.43 5.00 - -
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.

Growth of $10,000 Investment

Historical Performance

    Class Z shares are closed to new accounts.
    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
    DSIGX
    2.15% 2.22% 2.25% 2.22% 2.35% 2.31% 2.31% 2.14% 2.04% 1.96% 1.97% 1.95%

    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
    DSIGX
    1.78% 0.89% 0.21% -0.50% 0.23% 0.05% -0.10% 0.88% 1.55% 1.81%

    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 0.25%
    Shareholder Service Fees 0.09%
    Other Expenses 0.32%
    Total Expenses 0.66%
    Expenses Reimbursed 0.22%
    Net Expenses 0.44%

    Prospectus Fee Table Expense Ratios

    As of  03/29/19 Fee Description Expense Ratio (%)
    Management Fee 0.25%
    Shareholder Service Fees 0.12%
    Other Expenses 0.33%
    Total Expenses 0.70%
    Expenses Reimbursed 0.23%
    Net Expenses 0.47%
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc. has contractually agreed to waive receipt of a portion of its management fees in the amount of .05% of the value of the fund's average daily net assets until March 31, 2020. On or after March 31, 2020, BNY Mellon Investment Adviser, Inc. may terminate this waiver agreement at any time. BNY Mellon Investment Adviser, Inc. has contractually agreed, until March 31, 2020, to waive receipt of its fees and/or assume the direct expenses attributable to Class D and Class Z shares of the fund so that the direct expenses of Class D and Class Z (excluding Rule 12b-1 fees, shareholder service fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed .35%. On or after March 31, 2020, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

    Portfolio Manager/Sub-Investment Advisor

    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 Dreyfus Cash Investment Strategies (CIS), a division of BNY Mellon Investment Adviser, Inc. The team members are Patricia Larkin, Bernard W. Kiernan, Jr., Edward J. Von Sauers, James G. O'Connor and Thomas S. Riordan. Ms. Larkin has served as a primary portfolio manager of the fund since April 2016, and Messrs. Kiernan, Von Sauers, O'Connor and Riordan have each served as a primary portfolio manager of the fund since May 2017. Ms. Larkin is the Chief Investment Officer of Money Market Strategies for CIS. 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 of CIS.

    Asset Allocation


        Daily Statistics

        As of  08/16/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 09/28/18  12 Month 
        High Nav
        07/01/19  12 Month 
        Low Nav
        YTD Return
        DSIGX
        1.45% 1.71% $10.07
        $0.00
        0.00%
        $10.07 $10.07 1.41%

        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 upon maturity.

        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 investing directly 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, social and 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.

        Risk Metrics

        As of  07/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DSIGX
        0.22 -0.12 -0.01 2.93 -1.04

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Nov 30
        Annualized Distribution Rate
        2.15%
        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 0.019536056
        06/2019 0.017122361
        05/2019 0.019273383
        04/2019 0.019598028
        03/2019 0.018838194
        02/2019 0.017871499
        01/2019 0.019718368
        12/2018 0.018314233
        11/2018 0.016880273
        10/2018 0.017858855
        09/2018 0.015235734
        08/2018 0.016643220
        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
        DSIGX
        0.0000 0.0000 0.0128 0.0000 0.0000 0.0128 10.51
        Record Date Ex-Dividend Date Payable Date
        DSIGX
        07/25/13 07/26/13 07/26/13