Dreyfus Equity Income Fund

Why invest in this Fund?

The fund seeks total return (consisting of capital appreciation and income). This objective may be changed by the fund's board, upon 60 days' prior notice to shareholders.

To pursue its goal, the fund normally invests at least 80% of its net assets in equity securities. The fund seeks to focus on dividend-paying stocks and other investments and investment techniques that provide income.

Min. class investment
$1,000
Class Inception Date
07/05/06
Fund Assets
$887,225,454  As of  12/13/18
Class Assets
$227,157,135  As of  12/13/18
Portfolio Turnover Rate
55.90%  As of fiscal year end  05/31/18
Morningstar Category
Large Value
Benchmark
S&P 500(r) Index
Morningstar Overall Rating
Fund Holdings
101  As of  11/30/18

Morningstar Rating™ as of November 30, 2018 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the Large Value category. Fund ratings are out of 5 Stars: Overall 4 Stars (1089 funds rated); 3 Yrs. 5 Stars (1089 funds rated); 5 Yrs. 4 Stars (932 funds rated); 10 Yrs. 4 Stars (678 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

  • Goslin, Peter

    Peter Goslin

    Portfolio Manager, BNY Mellon AMNA

    3 yr(s). on fund

  • Boggs, Wesley

    Wesley Boggs

    Portfolio Manager, BNY Mellon AMNA

    7 yr(s). on fund

  • Zamil, Syed A.

    Syed A. Zamil

    CFA, Portfolio Manager, BNY Mellon AMNA

    1 yr(s). on fund

  • Cazalet, William

    William Cazalet

    CAIA, Managing Director, Head of Active Equity Strategies, BNY Mellon AMNA

    4 yr(s). on fund


Click here to see SALES CHARGE  Max Sales Charge:  5.75% Front End Load
As of  11/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Equity Income Fund
DQIAX
1.31 10.36 8.56 12.47 7.40 07/05/06
S&P 500(r) Index
6.27 12.16 11.12 14.32 - -
As of  09/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Equity Income Fund
DQIAX
16.32 15.74 12.42 10.83 8.37 07/05/06
S&P 500(r) Index
17.91 17.31 13.95 11.97 - -
Click here to see SALES CHARGE  Max Sales Charge:  5.75% Front End Load
As of  11/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Equity Income Fund
DQIAX
1.31 34.42 50.75 223.79 142.61 07/05/06
S&P 500(r) Index
6.27 41.11 69.43 281.09 - -
As of  09/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Equity Income Fund
DQIAX
9.62 46.10 69.31 163.50 152.19 07/05/06
S&P 500(r) Index
17.91 61.43 92.10 209.62 - -

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.

To view the fund's performance attribution, click here.

The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

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

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

Historical Performance

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

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

    Yearly Total Return

    Fund 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
    DQIAX
    16.98% 16.95% -3.79% 12.18% 29.82% 9.56% 10.19% 12.53% 20.92% -31.91%

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


    Monthly Expense Ratios (Annualized)

    As of  11/30/18 Fee Description Expense Ratio (%)
    Management Fee 0.70%
    Service Fee 0.25%
    Other Expenses 0.17%
    Total Expenses 1.12%
    Expenses Reimbursed 0.09%
    Net Expenses 1.03%

    Prospectus Fee Table Expense Ratios

    As of  09/28/18 Fee Description Expense Ratio (%)
    Management Fee 0.70%
    Service Fee 0.25%
    Other Expenses 0.23%
    Total Expenses 1.18%
    Expenses Reimbursed 0.15%
    Net Expenses 1.03%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until September 30, 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 .78%. On or after September 30, 2019, The Dreyfus Corporation may terminate this expense limitation at any time.

    Sales Charge

    Investment Amount Sales Charge
    Less than $50,000 5.75%
    Less than $100,000 4.50%
    Less than $250,000 3.50%
    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 Manager/Sub-Investment Advisor

    The fund's investment adviser is The Dreyfus Corporation (Dreyfus). Investment decisions for the fund are made by members of the Active Equity Team of BNY Mellon Asset Management North America Corporation (the "firm"), an affiliate of Dreyfus. The team members are C. Wesley Boggs, William S. Cazalet, CAIA, Peter D. Goslin, CFA and Syed A. Zamil, CFA. Mr. Boggs has served as a primary portfolio manager of the fund since May 2011, Mr. Cazalet has served as a primary portfolio manager of the fund since December 2014, Mr. Goslin has served as a primary portfolio manager of the fund since February 2015 and Mr. Zamil has served as a primary portfolio manager of the fund since March 2017. Mr. Boggs is a vice president and senior portfolio manager at the firm. Mr. Cazalet is a managing director and head of active equity strategies at the firm. Mr. Goslin is a director and senior portfolio manager at the firm. Mr. Zamil is a managing director and global investment strategist at the firm. Each member of the team also is an employee of Dreyfus. BNY Mellon Asset Management North America Corporation investment professionals manage Dreyfus-managed funds pursuant to a dual-employee arrangement, under Dreyfus' supervision, and apply their firm's proprietary investment process in managing the funds.

    Top Holdings

    As of  11/30/18   Holdings % Portfolio  Weight
    Merck & Co. 3.84
    Pfizer 3.65
    Microsoft 3.43
    Apple 3.24
    Intel 3.05
    JPMorgan Chase & Co. 2.85
    Altria Group 2.65
    Amazon.com 2.54
    Chevron 2.53
    FirstEnergy 2.50

    Asset Allocation


        Daily Statistics

        As of  12/13/18 Name NAV Change 10/03/18  12 Month 
        High Nav
        12/10/18  12 Month 
        Low Nav
        YTD Return
        DQIAX
        $18.40
        -$0.03
        -0.16%
        $20.77 $18.32 1.39%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Large Value


        Morningstar Rating™ as of 11/30/18 for the Class A shares; other classes may have different performance characteristics. Overall rating for the Large Value. Fund ratings are out of 5 Stars: Overall 4 Stars (2699 funds rated); 3 Yrs. 5 Stars (1089 funds rated); 5 Yrs. 4 Stars (932 funds rated); 10 Yrs. 4 Stars (678 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
          44 out of 541
        • 3 Year
          33 out of 459
        • 5 Year
          47 out of 401
        • 10 Year
          34 out of 249

        LIPPER CLASSIFICATION Equity Income 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

        Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.

        Risk Metrics

        As of  11/30/18, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DQIAX
        9.12 1.24 0.92 89.12 1.23

        Dividend Schedule

        Declared
        Monthly
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        May 31
        Year Dividend ($) Capital Gains ($)
        2018 0.4505 0.4247
        2017 0.4464 1.1157
        2016 0.5042 0.1256
        2015 0.4742 1.0716
        2014 0.4571 0.4847
        2013 0.4301 0.1759
        2012 0.4660 0.1505
        2011 0.3145 0.1054
        2010 0.1658 0.0000
        2009 0.1289 0.0000
        There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

        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
        DQIAX
        0.0436 0.0248 0.1301 0.0738 0.2208 0.4931 18.72
        Record Date Ex-Dividend Date Payable Date
        DQIAX
        12/04/18 12/06/18 12/06/18
        (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
        DQIAX
        Final 0.0436 0.0248 0.1301 0.0738 0.2208 0.4931 18.72
        Record Date Ex-Dividend Date Payable Date
        DQIAX
        12/04/18 12/06/18 12/06/18