Historical Prices

Start Date End Date

BNY Mellon Opportunistic Municipal Securities 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.

To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal income tax. Typically, the fund invests substantially all of its assets in such municipal bonds. The fund invests at least 70% of its assets in municipal bonds rated, at the time of purchase, investment grade or the unrated equivalent as determined by the manager. For additional yield, the fund may invest up to 30% of its assets in municipal bonds rated below investment grade or the unrated equivalent as determined by the manager.
Min. class investment
$1,000
Class Inception Date
07/13/95
Fund Assets
$455,667,443  As of  12/01/21
Class Assets
$5,606,127  As of  12/01/21
Portfolio Turnover Rate
9.40%  As of fiscal year end  04/30/21
Morningstar Category
Municipal National Intermediate
Benchmark
Bloomberg U.S. Municipal Bond Index
Morningstar Overall Rating
Fund Holdings
208  As of  10/31/21
Average Effective Maturity
14.77  yr(s).  As of  10/31/21
Average Effective Duration
6.81  yr(s).  As of  10/31/21

Morningstar Rating™ as of October 31, 2021 for the Class C class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 3 Stars (266 funds rated); 3 Yrs. 2 Stars (266 funds rated); 5 Yrs. 2 Stars (229 funds rated); 10 Yrs. 3 Stars (169 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. ©2021 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

  • Burger, Jeffrey

    Jeffrey Burger, CFA

    Senior Portfolio Manager, Insight North America LLC

    7 yr(s). on fund

  • Rabasco, Daniel

    Daniel Rabasco, CFA

    Head of Municipal Bonds, Insight North America LLC

    9 yr(s). on fund


Total Returns

Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
Average Annual
As of 11/30/21
Name 3 MO
11/30/21
YTD
11/30/21
1 YR 3 YRS 5 YRS 10 YRS Since Inception
BNY Mellon Opportunistic Municipal Securities Fund
DMBCX
-0.48 1.00 1.79 4.47 3.61 3.24 3.41
Average Annual
As of 09/30/21
Name 3 MO
09/30/21
YTD
09/30/21
1 YR 3 YRS 5 YRS 10 YRS Since Inception
BNY Mellon Opportunistic Municipal Securities Fund
DMBCX
-0.70 0.56 2.86 4.25 2.32 3.21 3.41
Bloomberg U.S. Municipal Bond Index
-0.27 0.79 2.63 5.06 3.26 3.87 -
The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

Growth of $10,000 Investment

Historical Performance

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

    Fund 11/21 10/21 09/21 08/21 07/21 06/21 05/21 04/21 03/21 02/21 01/21 12/20
    DMBCX
    1.30% 1.30% 1.33% 1.32% 1.31% 1.55% 1.44% 1.48% 1.50% 1.50% 1.62% 1.65%

    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 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
    DMBCX
    4.26% 7.17% -0.25% 4.93% -1.33% 2.84% 10.37% -4.59% 6.65% 9.85%

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

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

    30-Day SEC Yield With Waiver: -0.12%

    Combined Effective Federal Income Tax Rate

     

    As of  12/01/21
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon Opportunistic Municipal Securities Fund
    DMBCX
    -0.17% -0.18% -0.19% -0.20% -0.21%

    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 SEC Yield Without Waiver: -0.12%

    Combined Effective Federal Income Tax Rate

     

    As of  12/01/21
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon Opportunistic Municipal Securities Fund
    DMBCX
    -0.17% -0.18% -0.19% -0.20% -0.21%

    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.


    Redemption Charge

    As of  12/02/21  Redemption Year CDSC
    Year 1 1.00
    Class C shares are subject to a contingent deferred sales charge (CDSC) imposed on Class C shares redeemed within one year of purchase.

    Prospectus Fee Table Expense Ratios

    As of  08/31/21 Fee Description Expense Ratio (%)
    Management Fee 0.35%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.16%
    Total Expenses 1.51%
    Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

    Portfolio Manager/Sub-Investment Adviser

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Insight North America LLC (INA), to serve as the fund's sub-investment adviser. Jeffrey Burger, CFA and Daniel Rabasco, CFA are the fund's primary portfolio managers, positions they have held since May 2014 and February 2012, respectively. Mr. Burger is a director and senior portfolio manager for tax-sensitive strategies at INA. Mr. Rabasco is a managing director and Head of Municipal Bonds at INA.

    Asset Allocation


        Daily Statistics

        As of  12/01/21 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)
        30-Day Sec Yield 
        (WITH WAIVER)
        NAV Change 07/28/21  12 Month 
        High Nav
        02/26/21  12 Month 
        Low Nav
        YTD Return
        DMBCX
        -0.12% -0.12% $13.53
        $0.00
        0.00%
        $13.73 $13.41 1.00%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Municipal National Intermediate


        Morningstar Rating™ as of 10/31/21 for the Class C shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall 3 Stars (266 funds rated); 3 Yrs. 2 Stars (266 funds rated); 5 Yrs. 2 Stars (229 funds rated); 10 Yrs. 3 Stars (169 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
          210 out of 295
        • 3 Year
          215 out of 268
        • 5 Year
          190 out of 230
        • 10 Year
          138 out of 173

        LIPPER CLASSIFICATION General & Insured 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.
        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.
        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.

        Risk Metrics

        As of  10/31/21 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DMBCX
        4.79 -1.33 1.17 95.51 0.74

        All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.


        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Apr 30
        Annualized Distribution Rate
        1.30%
        As of  11/2021
        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 ($)
        11/2021 0.015456030
        10/2021 0.013904307
        09/2021 0.014794500
        08/2021 0.015843113
        07/2021 0.014827089
        06/2021 0.017388270
        05/2021 0.015055635
        04/2021 0.016483325
        03/2021 0.018293687
        02/2021 0.015455126
        01/2021 0.017601994
        12/2020 0.019017145
        All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.

        Distributions History

        Record Date Ex-Dividend Date Payable Date 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
        12/22/20 12/23/20 12/23/20 0.0000 0.0000 0.0007 0.0000 0.0266 0.0273 13.56
        Record Date Ex-Dividend Date Payable Date 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
        12/27/18 12/28/18 12/28/18 0.0000 0.0000 0.0051 0.0000 0.0000 0.0051 -
        12/18/13 12/19/13 12/19/13 0.0000 0.0000 0.0038 0.0000 0.0000 0.0038 -
        12/12/12 12/13/12 12/13/12 0.0000 0.0000 0.0068 0.0000 0.0000 0.0068 -
        12/07/99 12/08/99 12/08/99 0.0000 0.0000 0.0000 0.0000 0.0000 0.1603 -
        12/07/98 12/08/98 12/08/98 0.0000 0.0000 0.0198 0.0000 0.0000 0.2067 -
        12/03/97 12/04/97 12/04/97 0.0000 0.0000 0.0000 0.0000 0.0000 0.0841 -
        12/04/96 12/05/96 12/05/96 0.0000 0.0000 0.0075 0.0000 0.0000 0.0075 -