BNY Mellon Ultra Short
Income Fund

The BNY Mellon Ultra Short Income Fund seeks high current income consistent with the maintenance of liquidity and low volatility of principal. The fund may be considered as an investment alternative to money market funds1 and other short term fixed-income products.

Primary Investments:

The fund normally invests in a broad range of U.S. dollar-denominated debt securities, including money market instruments.

The fund's investments may include: securities issued or guaranteed as to principal and interest by the U.S. government or its agencies or instrumentalities; certificates of deposit, time deposits, bankers' acceptances and other short-term securities issued by domestic or foreign banks; domestic and foreign commercial paper, and other short-term corporate obligations; obligations issued or guaranteed by one or more foreign governments; repurchase agreements, including tri-party repurchase agreements; asset-backed securities; municipal securities; inflation-indexed securities; and zero coupon securities.

Differentiating Features

  • Slightly longer weighted average maturity (WAM) than money market funds with the potential to provide higher returns with minimal price volatility over time
  • Designed to provide a high degree of share price stability while seeking to generate higher returns than money market funds over time
Return Potential
  • Investors can structure their cash with a moderate maturity extension over a money market fund in the core cash tier.
  • May be ideal as a secondary source of moderate liquidity for longer term cash balances
Disciplined Risk Management
  • Using proprietary risk management tools we balance what we believe to be the appropriate levels of risk-adjusted return and comprehensive risk management

1The fund is not a money market fund and is not subject to the maturity, quality, liquidity and diversification requirements applicable to money market funds. The fund's share price will fluctuate, which means you could lose money by investing in the fund.


Investors should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. To obtain a prospectus, or summary prospectus, if available, that contains this and other information about the fund, contact your financial professional or visit Read the prospectus carefully before investing. The fund’s prospectus includes important information about its principal investment strategy including, if applicable, how environmental, social and governance (“ESG”) factors may be considered as part of the fund’s securities selection process and the risks related to incorporating ESG considerations in the fund’s investment approach.

Main Risks

The fund’s share price will fluctuate, which means you could lose money by investing in the fund. Bond funds are subject generally to interest-rate, credit, liquidity, call, and market risks, to varying degrees, all of which are more fully described in the fund’s prospectus. Prices of fixed-income securities tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect prices of fixed-income securities and, accordingly, the fund’s share price.

When there is little or no active trading market for specific types of securities, it can become more difficult to sell the securities at or near their perceived value. In such a market, the value of such securities may fall dramatically, potentially lowering the fund’s share price, even during periods of declining interest rates. Also, during such periods, redemptions by a few large investors in the fund may have a significant adverse effect on the fund’s net asset value and remaining fund shareholders.

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.

This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

Dreyfus Cash Investment Strategies is a division of BNY Mellon Investment Adviser, Inc.; Dreyfus Cash Solutions is a division of BNY Mellon Securities Corporation, a registered broker dealer and the funds' distributor. BNY Mellon Investment Adviser, Inc. and BNY Mellon Securities Corporation are subsidiaries of The Bank of New York Mellon Corporation.