BNY Mellon Insight Core Plus Fund

Overview

Why invest in this Fund?

The fund seeks high total return consistent with preservation of capital. To pursue its goal, the fund normally invests in a diversified portfolio of fixed-income securities of U.S. and foreign issuers. Typically, the fund's portfolio can be expected to have an average effective duration ranging between three and eight years.
Min. class investment
$1,000
Class Inception Date
02/02/18
Fund Assets
$584,941,530  As of  03/15/19
Class Assets
$347,097,060  As of  03/15/19
Portfolio Turnover Rate
293.18%  As of fiscal year end  04/30/18
Morningstar Category
Intermediate-Term Bond
Benchmark
Bloomberg Barclays U.S. Aggregate Bond Index
Fund Holdings
418  As of  02/28/19
Average Effective Maturity
9.55  yr(s).  As of  02/28/19
Average Effective Duration
6.16  yr(s).  As of  02/28/19

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.  Past performance is no guarantee of future results.  MBSC Securities Corporation, a registered broker-dealer and FINRA member, is the distributor for the Dreyfus Funds.

Performance

Average Annual Returns

Click here to see SALES CHARGE  Max Sales Charge:  4.50% Front End Load

Month End

As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Insight Core Plus Fund
DCPAX
 -1.98 1.79 2.08 - 2.96 02/02/18
Bloomberg Barclays U.S. Aggregate Bond Index
 3.17 1.69 2.32 3.71 - -

Quarter End

As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Insight Core Plus Fund
DCPAX
 -1.00 2.95 3.11 - 3.34 02/02/18
Bloomberg Barclays U.S. Aggregate Bond Index
 0.01 2.06 2.52 3.48 - -

Cumulative Returns

Click here to see SALES CHARGE  Max Sales Charge:  4.50% Front End Load

Month End

As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Insight Core Plus Fund
DCPAX
 -1.98 5.47 10.84 - 27.15 02/02/18
Bloomberg Barclays U.S. Aggregate Bond Index
 3.17 5.16 12.13 43.97 - -

Quarter End

As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Insight Core Plus Fund
DCPAX
 -5.48 4.22 11.32 - 24.55 02/02/18
Bloomberg Barclays U.S. Aggregate Bond Index
 0.01 6.30 13.26 40.75 - -

The performance data quotes represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor’s shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related andcorporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and nonagency).

For periods prior to February 5, 2018, the information for the fund’s Class A shares represents the performance of a predecessor fund's Institutional shares, adjusted to reflect any applicable sales charges. Such performance figures have not been adjusted to reflect applicable class fees and expenses; if such fees and expenses had been reflected, the performance shown for Class A shares for such periods may have been lower.

Growth of $10,000 Investment

Past performance is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted.

Historical Performance

Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    These figures do not reflect the maximum sales charge which, if included, would reduce return.

    For periods prior to February 5, 2018, the information for the fund’s Class A shares represents the performance of a predecessor fund's Institutional shares, adjusted to reflect any applicable sales charges. Such performance figures have not been adjusted to reflect applicable class fees and expenses; if such fees and expenses had been reflected, the performance shown for Class A shares for such periods may have been lower.

    Monthly

    Fund 02/19 01/19 12/18 11/18 10/18 09/18 08/18 07/18 06/18 05/18 04/18 03/18
    DCPAX
    		 3.17% 3.13% 3.15% 3.13% 3.15% 2.95% 2.87% 2.91% 2.99% 2.86% 2.94% 2.75%

    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
    DCPAX
    		 -1.00% 5.13% 4.83% -0.42% 7.28% -1.32% 8.49% 5.69%

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

    Fees & Expenses

    Monthly Expense Ratios (Annualized)

    As of  02/28/19 Fee Description Expense Ratio (%)
    Management Fee 0.35%
    Service Fee 0.25%
    Other Expenses 0.15%
    Total Expenses 0.75%
    Expenses Reimbursed 0.05%
    Net Expenses 0.70%

    This data is annualized. Monthly operating expenses may vary month to month.

    Prospectus Fee Table Expense Ratios

    As of  08/31/18 Fee Description Expense Ratio (%)
    Management Fee 0.35%
    Service Fee 0.25%
    Other Expenses 1.45%
    Total Expenses 2.05%
    Expenses Reimbursed 1.35%
    Net Expenses 0.70%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until August 31, 2019, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .45% of the fund's average daily net assets. On or after August 31, 2019, The Dreyfus Corporation may terminate may terminate this expense limitation at any time.

    Sales Charge

    Investment Amount Sales Charge
    Less than $50,000 4.50%
    Less than $100,000 4.00%
    Less than $250,000 3.00%
    Less than $500,000 2.50%
    Less than $1,000,000 2.00%
    Over $1,000,000 0.00%
    There is a 1% CDSC for purchases of $1,000,000 and over if redeemed within one year of purchase.
    Portfolio

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is The Dreyfus Corporation (Dreyfus) and the fund's sub-adviser is Insight North America LLC, an affiliate of Dreyfus. Gautam Khanna, Jason Celente and E. Gerard Berrigan are the fund's primary portfolio managers, positions they have held since the fund commenced operations on February 2, 2018. Messrs. Khanna and Celente are senior portfolio managers, and Mr. Berrigan is head of U.S. fixed income, at the sub-adviser.

    Top Holdings

    As of  02/28/19   Holdings % Portfolio  Weight
    US TREASURY Bonds, 2.9%, 09/30/2023 4.71
    US TREASURY Bonds, 2.5%, 01/31/2024 3.52
    US TREASURY Bonds, 2.6%, 12/31/2023 2.90
    FNMA, 3.5%, 11/01/2044 2.27
    US TREASURY Bonds, 3.5%, 02/15/2039 2.09
    FNMA, 3.5%, 06/01/2047 1.93
    US TREASURY Bonds, 2.4%, 04/15/2021 1.85
    FHLMC, 3.5%, 08/01/2045 1.81
    FNMA, 4.5%, 07/01/2048 1.80
    BHP Billiton Finance, 6.8%, 10/19/2075 1.73

    Portfolio composition is subject to change at any time. The holdings listed should not be considered recommendations to buy or sell a security. Large concentrations can increase share price volatility.

    Asset Allocation

        Stats & Risks

        Daily Statistics

        As of  03/15/19 Name 1-DAY YIELD 30-DAY YIELD 
        (UNSUBSIDIZED)        		 30-DAY YIELD 
        (SUBSIDIZED)        		 NAV Change 03/15/19  12 Month 
        High Nav        		 11/02/18  12 Month 
        Low Nav        		 YTD Return
        DCPAX
        		 2.99% - 2.89% $9.94
        $0.02
        0.20%
        		 $9.94 $9.63 2.83%

        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.

        Mortgage-backed securities: Ginnie Maes and other securities backed by the full faith and credit of the United States are guaranteed only as to the timely payment of interest and principal when held to maturity. The market prices for such securities are not guaranteed and will fluctuate. Privately issued mortgage related securities also are subject to credit risks associated with the underlying mortgage properties. These securities may be more volatile and less liquid than more traditional, government backed debt securities.

        High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.

        Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.

        The fund may, but is not required to, use derivatives which 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 and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments.

        Risk Metrics

        As of  02/28/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DCPAX
        		 2.74 1.68 0.90 82.74 0.76

        STANDARD DEVIATION - A statistical measure of dispersion around an average which depicts how widely fund returns varied over a certain period of time. A smaller standard deviation statistic indicates less variability of historic returns around a mean.

        ALPHA - A measure of a fund's actual returns compared to its expected performance, as measured by beta. A positive alpha indicates a fund outperformed what its beta would predict.

        BETA - Measures an investment's market-related risk. A beta higher than 1.0 suggests that the fund's expected return will exceeds the market's return; a beta lower than 1.0 suggests that the fund's expected return will lag the market's return.

        R-SQUARED - Reflects the percentage of a fund's movements that can be explained by movements in it's benchmark. An R-squared of 100 indicates fund movements that are perfectly correlated to those of the benchmark.

        SHARPE RATIO - The Sharpe ratio is based on a risk-adjusted measure developed by Nobel Laureate William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the fund's historical risk-adjusted performance.

        Source: Morningstar, Inc.

        Distributions

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Apr 30
        Annualized Distribution Rate
        3.17%
        As of  02/2019
        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.

        Dividend policy is stated in the fund's prospectus. No guarantee any dividend will be paid in a given year.

        Month/Year Dividend ($)
        02/2019 0.025154620
        01/2019 0.027513407
        12/2018 0.027230414
        11/2018 0.026001681
        10/2018 0.028718840
        09/2018 0.023151045
        08/2018 0.025093107
        07/2018 0.026218988
        06/2018 0.024378885
        05/2018 0.024963666
        04/2018 0.026533644
        03/2018 0.022720000
        All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.
        Literature