BNY Mellon New York Tax Exempt Bond Fund, Inc.

  • TICKER DRNYX
  • Fund Code 0980
  • CUSIP 05589N107
  • SHARE CLASS Single Share Class

Why invest in this Fund?

The fund seeks as high a level of current income exempt from federal, New York state and New York city income taxes as is 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, New York state and New York city income taxes. Municipal bonds are debt securities or other obligations issued by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies and authorities, and certain other specified securities.

Min. class investment
$2,500
Class Inception Date
07/26/83
Fund Assets
$1,056,653,688  As of  10/16/19
Class Assets
$1,056,653,688  As of  10/16/19
Portfolio Turnover Rate
10.22%  As of fiscal year end  05/31/19
Morningstar Category
Municipal New York Intermediate
Benchmark
Bloomberg Barclays U.S. Municipal Bond Index
Morningstar Overall Rating
Fund Holdings
171  As of  09/30/19
Average Effective Maturity
17.76  yr(s).  As of  09/30/19
Average Effective Duration
5.05  yr(s).  As of  09/30/19

Morningstar Rating™ as of September 30, 2019 for the Single Share Class class shares; other classes may have different performance characteristics. Overall rating for the Municipal New York Intermediate category. Fund ratings are out of 5 Stars: Overall 4 Stars (48 funds rated); 3 Yrs. 4 Stars (48 funds rated); 5 Yrs. 4 Stars (46 funds rated); 10 Yrs. 4 Stars (39 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

    10 yr(s). on fund

  • Rabasco, Daniel

    Daniel Rabasco

    Portfolio Manager, Mellon Investments Corporation

    5 yr(s). on fund


As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon New York Tax Exempt Bond Fund, Inc.
DRNYX
7.75 2.56 3.34 3.56 5.91 07/26/83
Bloomberg Barclays U.S. Municipal Bond Index
8.55 3.19 3.66 4.16 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon New York Tax Exempt Bond Fund, Inc.
DRNYX
7.75 2.56 3.34 3.56 5.91 07/26/83
Bloomberg Barclays U.S. Municipal Bond Index
8.55 3.19 3.66 4.16 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon New York Tax Exempt Bond Fund, Inc.
DRNYX
7.75 7.87 17.88 41.89 698.53 07/26/83
Bloomberg Barclays U.S. Municipal Bond Index
8.55 9.88 19.68 50.38 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon New York Tax Exempt Bond Fund, Inc.
DRNYX
7.75 7.87 17.88 41.89 698.53 07/26/83
Bloomberg Barclays U.S. Municipal Bond Index
8.55 9.88 19.68 50.38 - -
The Bloomberg Barclays 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

    Fund 09/19 08/19 07/19 06/19 05/19 04/19 03/19 02/19 01/19 12/18 11/18 10/18
    DRNYX
    2.70% 2.70% 2.77% 2.82% 2.86% 2.91% 2.97% 2.96% 3.00% 2.99% 3.02% 3.05%

    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
    DRNYX
    0.09% 5.14% -0.06% 3.61% 8.95% -4.68% 6.37% 9.87% 1.81% 13.54%

    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: 1.33%

    Combined Effective Federal and State Income Tax Rate

     

    As of  10/16/19
    Name 40.20% 42.77% 42.99% 44.86% 46.02%
    Joint Return $323,201 to $408,200 - $408,201 to $612,350 $612,351 to $2,155,350 Over $2,155,351
    Single Return - $204,101 to $215,400 $215,401 to $510,300 $510,301 to $1,077,550 Over $1,077,551
    BNY Mellon New York Tax Exempt Bond Fund, Inc.
    DRNYX
    2.22% 2.32% 2.33% 2.41% 2.46%

    Composite effective Federal and State tax bracket for New York residents after Federal benefits. Income is subject to State and local taxes for non-New York residents. Some income may be subject to the Federal Alternative Minimum Tax. Capital gains, if any, are taxable.

    30-Day Yield Restated: 1.33%

    Combined Effective Federal and State Income Tax Rate

     

    As of  10/16/19
    Name 40.20% 42.77% 42.99% 44.86% 46.02%
    Joint Return $323,201 to $408,200 - $408,201 to $612,350 $612,351 to $2,155,350 Over $2,155,351
    Single Return - $204,101 to $215,400 $215,401 to $510,300 $510,301 to $1,077,550 Over $1,077,551
    BNY Mellon New York Tax Exempt Bond Fund, Inc.
    DRNYX
    2.22% 2.32% 2.33% 2.41% 2.46%

    Composite effective Federal and State tax bracket for New York residents after Federal benefits. Income is subject to State and local taxes for non-New York residents. Some income may be subject to the Federal Alternative Minimum Tax. Capital gains, if any, are taxable.

    Restated yields do not reflect current undertaking in effect, which may be modified, extended, or terminated at any time.


    Prospectus Fee Table Expense Ratios

    As of  09/30/19 Fee Description Expense Ratio (%)
    Management Fee 0.60%
    Shareholder Service Fees 0.04%
    Other Expenses 0.14%
    Total Expenses 0.78%

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. Thomas Casey and Daniel Rabasco are the fund's primary portfolio managers, positions they have held since December 2009 and July 2014, respectively. Mr. Casey is a senior portfolio manager for tax-sensitive strategies at Mellon Investments Corporation (Mellon), an affiliate of BNY Mellon Investment Adviser, Inc. Mr. Rabasco is the Chief Investment Officer for Tax Sensitive Fixed Income 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  10/16/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 08/28/19  12 Month 
        High Nav
        11/06/18  12 Month 
        Low Nav
        YTD Return
        DRNYX
        1.33% 1.33% $15.03
        -$0.01
        -0.07%
        $15.23 $14.20 6.53%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Municipal New York Intermediate


        Morningstar Rating™ as of 09/30/19 for the Single Share Class shares; other classes may have different performance characteristics. Overall rating for the Municipal New York Intermediate. Fund ratings are out of 5 Stars: Overall 4 Stars (133 funds rated); 3 Yrs. 4 Stars (48 funds rated); 5 Yrs. 4 Stars (46 funds rated); 10 Yrs. 4 Stars (39 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
          66 out of 98
        • 3 Year
          59 out of 88
        • 5 Year
          49 out of 87
        • 10 Year
          45 out of 66

        LIPPER CLASSIFICATION New York 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 for out-of-state residents. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.

        Risk Metrics

        As of  09/30/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DRNYX
        3.53 -0.59 0.98 98.26 0.28

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        May 31
        Annualized Distribution Rate
        2.70%
        As of  09/2019
        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 ($)
        09/2019 0.034534673
        08/2019 0.033741555
        07/2019 0.037555701
        06/2019 0.032235267
        05/2019 0.036236107
        04/2019 0.037604190
        03/2019 0.034711364
        02/2019 0.032989477
        01/2019 0.036912588
        12/2018 0.036605082
        11/2018 0.035559054
        10/2018 0.039308704
        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
        DRNYX
        0.0000 0.0000 0.0028 0.0000 0.0075 0.0103 15.70
        Record Date Ex-Dividend Date Payable Date
        DRNYX
        12/12/12 12/13/12 12/13/12