BNY Mellon Short Term Income Fund

  • TICKER DSHPX
  • Fund Code 0171
  • CUSIP 05600G503
  • SHARE CLASS

Why invest in this Fund?

The fund seeks to maximize total return, consisting of capital appreciation and current income.

Accordingly, the fund invests at least 80% of its net assets in investment grade fixed-income securities of U.S. and foreign issuers. The fund may invest up to 20% of its assets in fixed-income securities rated below investment grade ("high yield" or "junk" bonds) to as low as Caa/CCC. The fund may invest up to 30% of total assets in fixed-income securities of foreign issuers, including emerging markets.

Min. class investment
$100,000
Class Inception Date
11/01/02
Fund Assets
$136,941,862  As of  08/23/19
Class Assets
$147,866  As of  08/23/19
Portfolio Turnover Rate
134.82%  As of fiscal year end  07/31/18
Morningstar Category
Short-Term Bond
Benchmark
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index
Fund Holdings
263  As of  07/31/19
Average Effective Maturity
2.60  yr(s).  As of  07/31/19
Average Effective Duration
2.14  yr(s).  As of  07/31/19

Morningstar Rating™ as of July 31, 2019 for the Class P class shares; other classes may have different performance characteristics. Overall rating for the Short-Term Bond category. Fund ratings are out of 5 Stars: Overall 2 Stars (490 funds rated); 3 Yrs. 1 Stars (490 funds rated); 5 Yrs. 1 Stars (433 funds rated); 10 Yrs. 3 Stars (277 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

  • Bowser, David R.

    David R. Bowser

    Portfolio Manager, Mellon Investments Corporation

    11 yr(s). on fund

  • Zaleski, Scott

    Scott Zaleski

    Portfolio Manager, Mellon Investments Corporation

    0 yr(s). on fund

  • Hyde, Nathaniel

    Nathaniel Hyde

    Portfolio Manager, Mellon Investments Corporation

    1 yr(s). on fund


As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short Term Income Fund
DSHPX
3.46 1.09 0.87 2.01 3.70 11/01/02
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index
5.26 1.70 1.88 2.22 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short Term Income Fund
DSHPX
3.79 1.13 0.84 2.23 3.71 11/01/02
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index
5.37 1.75 1.85 2.31 - -
As of  07/31/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short Term Income Fund
DSHPX
3.46 3.29 4.45 22.03 166.30 11/01/02
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index
5.26 5.17 9.76 24.60 - -
As of  06/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Short Term Income Fund
DSHPX
3.79 3.42 4.27 24.68 166.25 11/01/02
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index
5.37 5.35 9.59 25.64 - -
The ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index tracks the performance of U.S. dollar-denominated investment-grade debt publicly issued in the U.S. domestic market, including U.S. Treasury, U.S. agency, foreign government, supranational and corporate securities, including all securities with a remaining term to final maturity less than five years. Investors cannot invest directly in any index.

The total return performance figures presented for Class P shares of the fund represent the performance of the fund's Class D for periods prior to November 01, 2002, the inception date for Class P shares, and the performance of Class P, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

Growth of $10,000 Investment

Historical Performance

    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
    DSHPX
    1.30% 1.25% 1.72% 1.74% 2.20% 2.28% 2.51% 2.27% 2.00% 2.24% 2.43% 2.23%

    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
    DSHPX
    -0.47% 1.41% 1.12% -0.32% 0.26% 0.80% 3.87% 1.49% 4.69% 14.01%

    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 0.50%
    Service Fee 0.25%
    Other Expenses 0.62%
    Total Expenses 1.37%
    Expenses Reimbursed 0.67%
    Net Expenses 0.70%

    Prospectus Fee Table Expense Ratios

    As of  11/30/18 Fee Description Expense Ratio (%)
    Management Fee 0.50%
    Service Fee 0.25%
    Other Expenses 0.44%
    Total Expenses 1.19%
    Expenses Reimbursed 0.49%
    Net Expenses 0.70%
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until November 30, 2019, to waive receipt of its fees and/or assume the expenses of the fund so that the direct expenses of the fund (excluding shareholder services fees, taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed 0.45%. On or after November 30, 2019, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation at any time.

    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). The team members are Nathaniel Hyde, CFA, and David Bowser, CFA, each of whom also is an employee of BNY Mellon Investment Adviser, Inc. The team has served as primary portfolio managers of the fund since March 2018. Mr. Hyde is a portfolio manager of the Mellon Global Multi-Sector Investment team. Mr. Bowser has served as a portfolio manager of the fund since July 2008. Mr. Bowser is a managing director and senior portfolio manager on the Global Multi-Sector Investment team at Mellon.

    Top Holdings

    As of  07/31/19   Holdings % Portfolio  Weight
    U.S. Treasury Inflation Protected Securities, 0.375%, 07/15/2023 6.55
    Japan Government Two Year Bond, 0.1%, 09/15/2019 3.07
    U.S. Treasury Inflation Protected Securities, 0.125%, 07/15/2022 2.52
    United States Treasury Inflation, 0.5%, 04/15/2024 2.08
    Italy Buoni Poliennali Del Tesoro, 0.9%, 08/01/2022 1.47
    Japanese Government CPI Linked Bond, 0.1%, 03/10/2025 1.13
    Citigroup, 3.875%, 10/25/2023 1.07
    JPMorgan Chase & Co, 3.375%, 05/01/2023 1.04
    Goldman Sachs Group, 3.2%, 02/23/2023 1.02
    Dominion Energy 0.92

    Asset Allocation


        Daily Statistics

        As of  08/23/19 Name 30-Day Sec Yield 
        (Unsubsidized)
        30-Day Sec Yield 
        (Subsidized)
        NAV Change 08/23/19  12 Month 
        High Nav
        12/11/18  12 Month 
        Low Nav
        YTD Return
        DSHPX
        1.22% 1.45% $10.22
        $0.02
        0.20%
        $10.22 $9.90 3.96%

        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.

        Risk Metrics

        As of  07/31/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DSHPX
        1.19 -0.62 0.29 58.08 -0.38

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Jul 31
        Annualized Distribution Rate
        1.30%
        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 0.011955578
        06/2019 0.009735327
        05/2019 0.014762487
        04/2019 0.015369569
        03/2019 0.017575138
        02/2019 0.017558869
        01/2019 0.021354116
        12/2018 0.019377527
        11/2018 0.016436491
        10/2018 0.020260172
        09/2018 0.018780408
        08/2018 0.019114822
        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
        DSHPX
        0.0000 0.0000 0.0790 0.0000 0.0000 0.0790 9.91
        Record Date Ex-Dividend Date Payable Date
        DSHPX
        12/03/18 12/04/18 12/04/18
        (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
        DSHPX
        Final 0.0000 0.0000 0.0790 0.0000 0.0000 0.0790 9.91
        Record Date Ex-Dividend Date Payable Date
        DSHPX
        12/03/18 12/04/18 12/04/18