BNY Mellon Short-Intermediate Municipal Bond Fund

Why invest in this Fund?

The fund seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital.

Accordingly, the fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal personal income tax. The fund invests only in municipal bonds rated investment grade. The fund invests primarily in municipal bonds with remaining maturities of five years or less and generally maintains a dollar-weighted average portfolio maturity of two to three years.

Min. class investment
$1,000,000
Class Inception Date
07/01/13
Class Status
Not available for purchase by individual investors.
Fund Assets
$277,786,494  As of  08/20/19
Class Assets
$996  As of  08/20/19
Portfolio Turnover Rate
17.10%  As of fiscal year end  03/31/19
Morningstar Category
Municipal National Short
Benchmark
Bloomberg Barclays Municipal Bond: 3 Year Index (2-4)
Morningstar Overall Rating
Fund Holdings
123  As of  07/31/19
Average Effective Maturity
2.48  yr(s).  As of  07/31/19
Average Effective Duration
2.20  yr(s).  As of  07/31/19

Morningstar Rating™ as of July 31, 2019 for the Class Y class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Short category. Fund ratings are out of 5 Stars: Overall 3 Stars (179 funds rated); 3 Yrs. 2 Stars (179 funds rated); 5 Yrs. 3 Stars (162 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.

Portfolio Managers

  • Casey, Thomas

    Thomas Casey

    Portfolio Manager, Mellon Investments Corporation

    8 yr(s). on fund

  • Burger, Jeffrey

    Jeffrey Burger

    Senior Portfolio Manager, Mellon Investments Corporation

    7 yr(s). on fund


As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short-Intermediate Municipal Bond Fund
DMYBX
2.79 1.03 1.10 1.58 3.56 07/01/13
Bloomberg Barclays Municipal Bond: 3 Year Index (2-4)
3.73 1.56 1.54 1.88 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short-Intermediate Municipal Bond Fund
DMYBX
2.53 0.90 1.01 1.63 3.55 07/01/13
Bloomberg Barclays Municipal Bond: 3 Year Index (2-4)
3.48 1.46 1.44 1.94 - -
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short-Intermediate Municipal Bond Fund
DMYBX
2.79 3.13 5.62 16.99 208.79 07/01/13
Bloomberg Barclays Municipal Bond: 3 Year Index (2-4)
3.73 4.74 7.94 20.52 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short-Intermediate Municipal Bond Fund
DMYBX
2.53 2.74 5.13 17.49 207.15 07/01/13
Bloomberg Barclays Municipal Bond: 3 Year Index (2-4)
3.48 4.45 7.42 21.24 - -
The Bloomberg Barclays Municipal Bond: 3 Year Index (2-4) covers the U.S. dollar-denominated 2-4 year tax-exempt bond market. Investors cannot invest directly in any index.

The total return performance figures presented for Class Y shares of the fund represent the performance of the fund's Class D for periods prior to July 01, 2013, the inception date for Class Y shares, and the performance of Class Y, 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
    DMYBX
    1.59% 1.50% 1.51% 1.53% 1.53% 1.50% 1.51% 1.56% 1.51% 1.46% 1.47% 1.47%

    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
    DMYBX
    1.02% 1.31% -0.39% 0.88% 1.12% 0.94% 1.36% 3.23% 1.53% 6.89%

    Investment return fluctuates and past performance is no guarantee of future results.

    Taxable Equivalent Yield Based on the Fund's 30-day Yield

    30-Day Yield: 1.00%

    Combined Effective Federal Income Tax Rate

     

    As of  08/20/19
    Name 27.80% 32.00% 35.80% 38.80% 40.80%
    Joint Return $250,001 to $321,450 - $321,451 to $408,200 $408,201 to $612,350 Over $612,351
    Single Return - $160,726 to $200,000 $200,001 to $204,100 $204,101 to $510,300 Over $510,301
    BNY Mellon Short-Intermediate Municipal Bond Fund
    DMYBX
    1.39% 1.47% 1.56% 1.63% 1.69%

    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 Yield Restated: -0.26%

    Combined Effective Federal Income Tax Rate

     

    As of  08/20/19
    Name 27.80% 32.00% 35.80% 38.80% 40.80%
    Joint Return $250,001 to $321,450 - $321,451 to $408,200 $408,201 to $612,350 Over $612,351
    Single Return - $160,726 to $200,000 $200,001 to $204,100 $204,101 to $510,300 Over $510,301
    BNY Mellon Short-Intermediate Municipal Bond Fund
    DMYBX
    -0.36% -0.38% -0.40% -0.42% -0.44%

    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.


    Monthly Expense Ratios (Annualized)

    As of  07/31/19 Fee Description Expense Ratio (%)
    Management Fee 0.30%
    Other Expenses 1.35%
    Total Expenses 1.65%
    Expenses Reimbursed 1.26%
    Net Expenses 0.39%

    Prospectus Fee Table Expense Ratios

    As of  08/01/19 Fee Description Expense Ratio (%)
    Management Fee 0.30%
    Other Expenses 0.35%
    Total Expenses 0.65%
    Expenses Reimbursed 0.26%
    Net Expenses 0.39%
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until August 1, 2020, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of its classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed 0.39%. On or after August 1, 2020, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation at any time.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. The fund's primary portfolio managers are Thomas Casey and Jeffrey Burger, positions they have held since April 2011 and February 2012, respectively. Messrs. Casey and Burger are senior portfolio managers for tax sensitive strategies at Mellon Investments Corporation (Mellon), an affiliate of BNY Mellon Investment Adviser, Inc. Mellon investment professionals manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.

    Asset Allocation


        Daily Statistics

        As of  08/20/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 08/14/19  12 Month 
        High Nav
        11/01/18  12 Month 
        Low Nav
        YTD Return
        DMYBX
        -0.26% 1.00% $13.03
        $0.00
        0.00%
        $13.04 $12.68 3.04%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Municipal National Short


        Morningstar Rating™ as of 07/31/19 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Municipal National Short. Fund ratings are out of 5 Stars: Overall 3 Stars (453 funds rated); 3 Yrs. 2 Stars (179 funds rated); 5 Yrs. 3 Stars (162 funds rated); 10 Yrs. Stars (112 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
          70 out of 132
        • 3 Year
          76 out of 112
        • 5 Year
          47 out of 99
        • 10 Year
          out of

        LIPPER CLASSIFICATION Short Municipal Debt Funds


        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.

        Municipal income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.

        The fund is non-diversified, which means the fund may invest in a relatively high percentage of its assets in a limited number of issuers. Performance may be more vulnerable to changes in the market of a single issuer.

        Risk Metrics

        As of  07/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DMYBX
        1.60 -0.98 0.38 69.96 -0.30

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Mar 31
        Annualized Distribution Rate
        1.59%
        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 0.018704149
        06/2019 0.014910920
        05/2019 0.016611288
        04/2019 0.017221678
        03/2019 0.015608508
        02/2019 0.014780123
        01/2019 0.016480491
        12/2018 0.016872887
        11/2018 0.015826503
        10/2018 0.016705934
        09/2018 0.014337805
        08/2018 0.015982502
        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
        DMYBX
        0.0000 0.0000 0.0025 0.0000 0.0097 0.0122 12.80
        Record Date Ex-Dividend Date Payable Date
        DMYBX
        12/28/16 12/29/16 12/29/16