Dreyfus/Newton International Equity Fund

Why invest in this Fund?

The fund seeks long-term growth of capital. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks or securities convertible into common stocks (such as convertible preferred stocks, warrants and convertible bonds) of foreign companies and depositary receipts evidencing ownership in such securities. At least 75% of the fund’s net assets will be invested in countries represented in the MSCI EAFE Index.

Min. class investment
$1,000
Class Inception Date
03/31/08
Fund Assets
$1,163,151,935  As of  03/15/19
Class Assets
$2,058,362  As of  03/15/19
Portfolio Turnover Rate
31.58%  As of fiscal year end  09/30/18
Morningstar Category
Foreign Large Blend
Benchmark
MSCI EAFE(r) Index
Fund Holdings
60  As of  02/28/19

Morningstar Rating™ as of February 28, 2019 for the Class C class shares; other classes may have different performance characteristics. Overall rating for the Foreign Large Blend category. Fund ratings are out of 5 Stars: Overall 2 Stars (644 funds rated); 3 Yrs. 1 Stars (644 funds rated); 5 Yrs. 2 Stars (514 funds rated); 10 Yrs. 2 Stars (383 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.

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.


Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus/Newton International Equity Fund
NIECX
-8.92 5.74 0.75 6.99 2.13 03/31/08
MSCI EAFE(r) Index
-6.04 9.32 2.07 9.56 - -
As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus/Newton International Equity Fund
NIECX
-18.00 -0.78 -1.10 4.04 1.43 03/31/08
MSCI EAFE(r) Index
-13.79 2.87 0.53 6.32 - -
Click here to see SALES CHARGE  Max Sales Charge:  1.00% CDSC Load
As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus/Newton International Equity Fund
NIECX
-8.92 18.24 3.81 96.51 32.09 03/31/08
MSCI EAFE(r) Index
-6.04 30.65 10.78 149.17 - -
As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus/Newton International Equity Fund
NIECX
-18.82 -2.32 -5.38 48.57 20.35 03/31/08
MSCI EAFE(r) Index
-13.79 8.87 2.69 84.52 - -

The performance data quoted 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 MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. Investors cannot invest directly in any index.

The total return performance figures presented for Class C shares of the fund represent the performance of the fund's Class I for periods prior to March 31, 2008, the inception date for Class C shares, and the performance of Class C, 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

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.

    Yearly Total Return

    Fund 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
    NIECX
    -18.00% 27.44% -6.52% 0.50% -3.61% 16.43% 21.43% -15.44% 8.25% 21.33%

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


    Monthly Expense Ratios (Annualized)

    As of  02/28/19 Fee Description Expense Ratio (%)
    Management Fee 0.75%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.17%
    Total Expenses 1.92%
    Expenses Reimbursed 0.10%
    Net Expenses 1.82%

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

    Redemption Charge

    As of  03/18/19  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  02/01/19 Fee Description Expense Ratio (%)
    Management Fee 0.75%
    12B-1 Fee 0.75%
    Service Fee 0.25%
    Other Expenses 0.15%
    Total Expenses 1.90%
    Expenses Reimbursed 0.08%
    Net Expenses 1.82%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed until February 1, 2020, 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 .82%. On or after February 1, 2020, The Dreyfus Corporation may terminate this expense limitation at any time.

    Portfolio Manager/Sub-Investment Advisor

    The investment adviser for the fund is The Dreyfus Corporation (Dreyfus). Dreyfus has engaged its affiliate, Newton Investment Management (North America) Limited ('Newton'), to serve as the fund's sub-investment adviser. Newton provides investment advisory assistance and research and the day-to-day management of the fund's investments, subject to Dreyfus' supervision and approval. Newton is an indirect subsidiary of BNY Mellon. Paul Markham and Jeff Munroe are the fund's primary portfolio managers, positions they have held since the fund's inception and October 2012, respectively. Mr. Markham, the fund's lead portfolio manager, is an investment manager for global equities, a member of the global equity ex-U.S. model team at Newton, and also leads one of four Newton thematic focus groups at Newton, where he has been employed since 1998. Mr. Munroe is the investment leader of the global equities team and is responsible for the global equity and the global equity ex-US model teams at Newton, where he has been employed since 1993.

    Top Holdings

    As of  02/28/19   Holdings % Portfolio  Weight
    Royal Dutch Shell 3.51
    Wolters Kluwer NV 3.46
    TechnoPro Holdings 3.40
    AIA Group 3.33
    Roche Holding 3.04
    GlaxoSmithKline 2.92
    Unilever 2.89
    Sony 2.59
    Pan Pacific International Holdings 2.48
    Novartis 2.43

    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


        Daily Statistics

        As of  03/15/19 Name NAV Change 04/18/18  12 Month 
        High Nav
        12/24/18  12 Month 
        Low Nav
        YTD Return
        NIECX
        $19.99
        $0.18
        0.91%
        $22.17 $17.58 10.87%

        Main Risks

        Diversification cannot assure a profit or protect against loss.

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

        Currencies are subject to the risk that those currencies will decline in value relative to a local currency, or, in the case of hedged positions, that the local currency will decline relative to the currency being hedged. Each of these risks could increase the fund's volatility.

        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.

        Risk Metrics

        As of  02/28/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        NIECX
        11.47 -3.88 0.92 84.55 0.44

        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.


        Dividend Schedule

        Declared
        Annually
        Distributed
        Annually
        Paid
        Annually
        Fiscal Year End
        Sep 30
        Year Dividend ($) Capital Gains ($)
        2018 0.1846 0.0000
        2017 0.1410 0.0000
        2016 0.0152 0.0000
        2015 0.0530 0.0000
        2014 0.3740 0.3528
        2013 0.2250 0.0000
        2012 0.0220 0.0000
        2011 0.1290 0.2451
        2010 0.0450 0.2622
        2009 0.2070 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
        NIECX
        0.0000 0.1846 0.0000 0.0000 0.0000 0.1846 18.33
        Record Date Ex-Dividend Date Payable Date
        NIECX
        12/13/18 12/14/18 12/14/18
        (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
        NIECX
        Final 0.0000 0.1846 0.0000 0.0000 0.0000 0.1846 18.33
        Record Date Ex-Dividend Date Payable Date
        NIECX
        12/13/18 12/14/18 12/14/18

        Capital gains, if any, may be short-term, long-term or a combination of both.

        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.

        The performance data quoted represents past performance, which is no guarantee of future results. Share price, yield 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 here to view standardized total returns and for month-end returns reflecting the fund's current performance.