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BNY Mellon Inflation Adjusted Securities Fund
- TICKER DIAVX
- Fund Code 0588
- CUSIP 05600G305
- SHARE CLASS
Why invest in this Fund?
The fund seeks returns that exceed the rate of inflation.
Accordingly, the fund normally invests at least 80% of its assets in inflation-indexed securities. These are fixed-income securities designed to protect investors from a loss of value due to inflation by periodically adjusting their principal and/or coupon according to the rate of inflation. The fund primarily invests in high-quality U.S. dollar-denominated inflation-indexed securities. However, the fund may invest in foreign currency-denominated inflation-protected securities and other fixed-income securities not adjusted for inflation. The fund seeks to keep the average effective duration of its portfolio at two to ten years.
Min. class investment
$10,000
Class Inception Date
10/31/02
Fund Assets
$89,189,415
As of
08/16/19
Class Assets
$10,049,536
As of
08/16/19
Portfolio Turnover Rate
47.82%
As of fiscal year end
07/31/18
Morningstar Category
Inflation-Protected Bond
Fund Holdings
17 As of
07/31/19
Average Effective Maturity
5.34
yr(s). As of
07/31/19
Average Effective Duration
5.16
yr(s). As of
07/31/19
Morningstar Rating™ as of July 31, 2019 for the Investor Shares class shares; other classes may have different performance characteristics. Overall rating for the Inflation-Protected Bond category. Fund ratings are out of 5 Stars: Overall 2 Stars (194 funds rated); 3 Yrs. 1 Stars (194 funds rated); 5 Yrs. 2 Stars (165 funds rated); 10 Yrs. 2 Stars (102 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
-
Robert M. Bayston
Portfolio Manager, Mellon Investments Corporation
14 yr(s). on fund
-
Nate Pearson
Portfolio Manager, Mellon Investments Corporation
7 yr(s). on fund
Average Annual Returns
Month End
| As of 07/31/19 Name | 1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception | Inception Date |
|---|---|---|---|---|---|---|
|
BNY Mellon Inflation Adjusted Securities Fund
DIAVX | 4.45 | 1.18 | 0.79 | 2.76 | 3.65 | 10/31/02 |
Quarter End
| As of 06/30/19 Name | 1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception | Inception Date |
|---|---|---|---|---|---|---|
|
BNY Mellon Inflation Adjusted Securities Fund
DIAVX | 3.85 | 1.19 | 0.72 | 2.75 | 3.66 | 10/31/02 |
Cumulative Returns
Month End
| As of 07/31/19 Name | 1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception | Inception Date |
|---|---|---|---|---|---|---|
|
BNY Mellon Inflation Adjusted Securities Fund DIAVX |
4.45 | 3.59 | 4.01 | 31.28 | 82.27 | 10/31/02 |
Quarter End
| As of 06/30/19 Name | 1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception | Inception Date |
|---|---|---|---|---|---|---|
|
BNY Mellon Inflation Adjusted Securities Fund
DIAVX | 3.85 | 3.60 | 3.63 | 31.18 | 82.12 | 10/31/02 |
Growth of $10,000 Investment
Historical Performance
Monthly
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
DIAVX
|
5.29% | 6.53% | 1.63% | 0.02% | 0.03% | 0.05% | 0.20% | 0.15% | 0.58% | 0.19% | 1.96% | 2.18% |
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 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|
|
DIAVX
|
-1.04% | 1.36% | 3.37% | -1.28% | 1.58% | -9.11% | 6.16% | 12.84% | 5.42% | 10.22% |
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 | 0.30% |
| Service Fee | 0.25% |
| Other Expenses | 0.30% |
| Total Expenses | 0.85% |
Prospectus Fee Table Expense Ratios
| As of 11/30/18 Fee Description | Expense Ratio (%) |
|---|---|
| Management Fee | 0.30% |
| Service Fee | 0.25% |
| Other Expenses | 0.25% |
| Total Expenses | 0.80% |
Portfolio Manager/Sub-Investment Advisor
The fund's investment adviser is BNY Mellon Investment Adviser, Inc. Investment decisions for the fund are made by a team of portfolio managers from Mellon Investments Corporation (Mellon), an affiliate of BNY Mellon Investment Adviser, Inc. The team members are Robert Bayston and Nate Pearson, CFA, each of whom also is an employee of BNY Mellon Investment Adviser, Inc. Mr. Bayston has been a primary portfolio manager of the fund since January 2005 and is responsible for treasury inflation protected securities and derivative strategies with Mellon. Mr. Pearson has been a primary portfolio manager of the fund since July 2012 and is an interest rate and derivatives strategist responsible for researching U.S. government securities at Mellon. Mellon investment professionals manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.
Asset Allocation
Daily Statistics
| As of 08/16/19 Name | 30-Day Sec Yield (Unsubsidized) |
30-Day Sec Yield (Subsidized) |
NAV | Change | 08/15/19
12 Month High Nav |
11/08/18
12 Month Low Nav |
YTD Return |
|---|---|---|---|---|---|---|---|
|
DIAVX
|
0.59% | 0.59% | $12.68 |
-$0.01
-0.08%
|
$12.69 | $12.03 | 5.95% |
Main Risks
Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.
Interest payments on inflation-linked bonds (ILB) will vary as the principal and/or interest is periodically adjusted based on the rate of inflation. If inflation falls, the interest payable on ILBs will be reduced. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. Government. While the U.S. Government guarantees the timely payment of principal and interest on its securities, portfolios that invest in such securities are not guaranteed and will fluctuate in value.
Interest payments on inflation-linked bonds (ILB) will vary as the principal and/or interest is periodically adjusted based on the rate of inflation. If inflation falls, the interest payable on ILBs will be reduced. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. Government. While the U.S. Government guarantees the timely payment of principal and interest on its securities, portfolios that invest in such securities are not guaranteed and will fluctuate in value.
Risk Metrics
| As of 07/31/19, 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
|---|---|---|---|---|---|
|
DIAVX
|
2.25 | -0.73 | 0.61 | 67.45 | -0.14 |
Dividend Schedule
Declared
Daily
Distributed
Monthly
Paid
Monthly
Fiscal Year End
Jul 31
Annualized Distribution Rate
5.29%
As of 07/2019
As of 07/2019
Annualized distribution rate is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.
| Month/Year | Dividend ($) |
|---|---|
| 07/2019 | 0.060043030 |
| 06/2019 | 0.063122871 |
| 05/2019 | 0.017340451 |
| 04/2019 | 0.000224139 |
| 03/2019 | 0.000294289 |
| 02/2019 | 0.000471813 |
| 01/2019 | 0.002085618 |
| 12/2018 | 0.001496095 |
| 11/2018 | 0.005791043 |
| 10/2018 | 0.002057358 |
| 09/2018 | 0.018325976 |
| 08/2018 | 0.022794941 |
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 |
|---|---|---|---|---|---|---|---|
|
DIAVX
|
0.0000 | 0.0000 | 0.0366 | 0.0000 | 0.0000 | 0.0366 | 12.08 |
| Record Date | Ex-Dividend Date | Payable Date | |
|---|---|---|---|
|
DIAVX
|
12/17/18 | 12/18/18 | 12/18/18 |
| (Values Listed In $) | Distribution Status | 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 |
|---|---|---|---|---|---|---|---|---|
|
DIAVX
| Final | 0.0000 | 0.0000 | 0.0366 | 0.0000 | 0.0000 | 0.0366 | 12.08 |
| Record Date | Ex-Dividend Date | Payable Date | |
|---|---|---|---|
|
DIAVX
|
12/17/18 | 12/18/18 | 12/18/18 |
