BNY Mellon High Yield Strategies Fund (DHF)
- CUSIP 09660L105
- NAV $ 2.77 As of 08/29/24
- CHG $ 0.00 (0.00 %)
- MKT PRICE $2.58 As of 08/29/24
- CHG $0.01 (0.39 %)
- Ann. Dist. Rate 8.27% As of 07/31/24
- Premium/Discount -6.86% As of 08/30/24
Why invest in this Fund?
- Seeks to provide high current income for today's yield-challenged market.
- Global strategy for expanded opportunities in the U.S. and Western European credit markets.
- Time-tested and experienced management by Alcentra NY, LLC, a recognized leader in global credit investing.
Yields and Expense Ratio
30-DAY SEC YIELD as of 08/30/24 |
ANNUALIZED DISTRIBUTION RATE as of 07/31/24 |
PROSPECTUS FEE TABLE EXPENSE RATIO (%) as of 03/31/22 |
|||
---|---|---|---|---|---|
Subsidized | Unsubsidized | Net | Gross | Contractual Fee Waiver End Date |
|
6.42 | 6.42 | 8.27 | 1.71 | 1.71 | - |
The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.
Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.
NAV - A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.
Market Price - The market price is the most recent price at which the fund was traded.
Annualized Distribution Rate - It represents the latest declared regular distribution, annualized, relative to the market price as of quarter end. Special distributions, including special capital gains distributions, are not included in the calculation. Distributions are sourced entirely from net investment income, unless otherwise noted.
Managed Assets - It is the total assets of the fund, including any assets attributable to leverage, minus the fund's accrued liabilities, other than any liabilities or obligations attributable to leverage.
Total Leverage - It is the amount of borrowed funds used to purchase assets in order to potentially enhance returns.
Average Effective Maturity (AEM) - is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.
Average Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.
Weighted Average Coupon - It is calculated from a fund’s portfolio by weighing the coupon of each bond by its relative size in the portfolio. Coupons are percentages paid out on a fixed-income security on a periodic basis.
Portfolio Turnover Rate - It is a measure of how quickly securities in a fund are either bought or sold by the fund's managers, over a given period of time.
NAV - A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.
Market Price - The market price is the most recent price at which the fund was traded.
Annualized Distribution Rate - It represents the latest declared regular distribution, annualized, relative to the market price as of quarter end. Special distributions, including special capital gains distributions, are not included in the calculation. Distributions are sourced entirely from net investment income, unless otherwise noted.
Managed Assets - It is the total assets of the fund, including any assets attributable to leverage, minus the fund's accrued liabilities, other than any liabilities or obligations attributable to leverage.
Total Leverage - It is the amount of borrowed funds used to purchase assets in order to potentially enhance returns.
Average Effective Maturity (AEM) - is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.
Average Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.
Weighted Average Coupon - It is calculated from a fund’s portfolio by weighing the coupon of each bond by its relative size in the portfolio. Coupons are percentages paid out on a fixed-income security on a periodic basis.
Portfolio Turnover Rate - It is a measure of how quickly securities in a fund are either bought or sold by the fund's managers, over a given period of time.
Portfolio Managers
-
Chris Barris
Global HY Portfolio Manager, Alcentra NY, LLC
Managing Fund Since 2010
Joined Firm in 2013
Joined Industry in 1994
-
Kevin Cronk, CFA
US Loan Portfolio Manager, Alcentra NY, LLC
Managing Fund Since 2012
Joined Firm in 2013
Joined Industry in 1996
Daily Statistics
As of 08/29/24NAME | NAV |
NAV CHANGE |
MARKET PRICE |
MARKET PRICE CHANGE |
PREMIUM/ DISCOUNT |
---|---|---|---|---|---|
BNY Mellon High Yield Strategies Fund
|
$2.77 |
$0.00
0.00%
|
$2.58 |
$0.01
0.39%
|
-6.86% |
Premium / Discount - The amount the fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund's NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund's NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number.
Market Price performance is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times.
Monthly Statistics
As of 07/31/24 NAME |
52 WEEK AVERAGE PREMIUM/DISCOUNT |
52 WEEK LOW/HIGH MARKET PRICE |
---|---|---|
BNY Mellon High Yield Strategies Fund
|
-6.96% | $2.06-$2.54 |
Total Returns
Month End
Average Annual As of 07/31/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 07/31/24 |
YTD 07/31/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon High Yield Strategies Fund
(DHF) |
12.34 | 15.75 | 21.02 | -2.24 | 4.85 | 4.73 | 4.11 |
ICE BofA US High Yield Constrained Index
|
4.11 | 4.63 | 11.04 | 2.19 | 4.01 | 4.55 | - |
Quarter End
Average Annual As of 06/30/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 06/30/24 |
YTD 06/30/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon High Yield Strategies Fund
DHF |
1.80 | 9.06 | 17.89 | -5.29 | 3.89 | 3.19 | 3.89 |
ICE BofA US High Yield Constrained Index
|
1.09 | 2.62 | 10.46 | 1.65 | 3.71 | 4.21 | - |
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 that the original cost.
Total return based on market price represents changes to the fund's closing market price on its primary exchange. Total return based on net asset value (NAV) reflects changes in the fund's NAV during each period.
Returns are shown net of fund expenses and assumes the reinvestment of all distributions. Investors who purchase shares of the fund through an investment advisor or other financial professional may separately pay a fee to that service provider.
The ICE BofA US High Yield Constrained Index contains all securities in the ICE BofA U.S. High Yield Index but caps issuer exposure at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. Similarly, the face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis. Investors cannot invest directly in any index.
Growth of $10,000 Investment at Market Price
Past performance is no guarantee of future results.
Historical NAV and Market Price Trailing Twelve Months
Historical Premium/Discount Trailing Twelve Months
Historical Performance
Past performance is no guarantee of future results.
Returns are shown net of fund expenses and assumes the reinvestment of all distributions.
Expense Ratio
As of 03/31/22Fee Description | Total Expense Ratio (%) |
---|---|
Management Fee | 1.05% |
Other Expenses | 0.24% |
Interest Expense | 0.42% |
Total Expenses | 1.71% |
Net Expenses | 1.71% |
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.
Please see the fund's Annual Report for full information on expenses.
Portfolio Manager
Asset Allocation
Composition | Allocation |
---|
Main Risks
High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.
The use of leverage magnifies the fund's investment, market and certain other risks. For derivatives with a leverage component, adverse changes in the value or level of the underlying asset, reference rate or index can result in a loss substantially greater than the amount invested in the derivative itself.
The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolios other investments.
CEFs are exposed to much of the same risk as other exchange traded products, including liquidity risk on the secondary market, credit risk, concentration risk and discount risk. If the CEF includes foreign market investments, it will be exposed to the typical foreign market risks, including currency, political and economic risk.
Shares of closed-end funds frequently trade at a market price that is below their net asset value. This is commonly referred to as
trading at a discount.This characteristic of shares of closed-end funds is a risk separate and distinct from the risk that the fund's net asset value may decrease.
Risk Metrics
As of 07/31/24 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
DHF
|
11.61 | 4.79 | 1.12 | 52.01 | -0.16 |
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. Aggregate Bond Index.
Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.
Alpha - Alpha is a measure of a security's or portfolio's excess return.
Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.
R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.
Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.
Dividend Schedule
Distributions History
RECORD DATE | EX-DIVIDEND DATE | PAYABLE DATE | DIVIDEND INCOME | SHORT-TERM CAPITAL GAIN |
LONG-TERM CAPITAL GAIN |
TOTAL DISTRIBUTION |
---|---|---|---|---|---|---|
08/07/24 | 08/07/24 | 08/21/24 | 0.0175 | - | 0.0000 | 0.0175 |
RECORD DATE | EX-DIVIDEND DATE | PAYABLE DATE | DIVIDEND INCOME | SHORT-TERM CAPITAL GAIN |
LONG-TERM CAPITAL GAIN |
TOTAL DISTRIBUTION |
---|---|---|---|---|---|---|
07/10/24 | 07/10/24 | 07/24/24 | 0.0175 | 0.0000 | 0.0000 | 0.0175 |
06/05/24 | 06/05/24 | 06/20/24 | 0.0175 | 0.0000 | 0.0000 | 0.0175 |
05/08/24 | 05/07/24 | 05/22/24 | 0.0175 | 0.0000 | 0.0000 | 0.0175 |
04/10/24 | 04/09/24 | 04/24/24 | 0.0175 | 0.0000 | 0.0000 | 0.0175 |
03/12/24 | 03/11/24 | 04/01/24 | 0.0175 | 0.0000 | 0.0000 | 0.0175 |
02/07/24 | 02/06/24 | 02/22/24 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
12/27/23 | 12/26/23 | 01/11/24 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
12/06/23 | 12/05/23 | 12/20/23 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
11/06/23 | 11/03/23 | 11/21/23 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
10/11/23 | 10/10/23 | 10/25/23 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
09/07/23 | 09/06/23 | 09/21/23 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
08/08/23 | 08/07/23 | 08/22/23 | 0.0150 | 0.0000 | 0.0000 | 0.0150 |
See all rows... |
Distributions are sourced entirely from net investment income, unless noted otherwise. If the fund estimates that a portion of its distribution may be comprised of amounts from sources other than net investment income in accordance with its policies and accounting practices, the fund will notify shareholders of the estimated composition of such distribution through a Section 19 Notice.
Tax consequences of dividend or capital gain distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. You should not draw any conclusions about the Fund's investment performance from the amount of the fund's distributions. Trading CEFs will also generate tax consequences and transaction expenses. This information is general in nature and is not intended to constitute tax advice. Please consult your own legal or tax advisor for more detailed information on tax issues and advice as they relate to your specific situation.
Literature
PRODUCT INFORMATION
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BNY Mellon High Yield Strategies Fund - Commentary | Download | Share | ||
BNY MELLON HIGH YIELD STRATEGIES FUND - TAX INFORMATION | Download | Share |
Reports
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Factsheet | Download | Share | ||
Annual Report - Common Stock | Download | Share | ||
Semi Annual Report - Common Stock | Download | Share | ||
1Q Fiscal Holdings | Download | Share | ||
3Q Fiscal Holdings | Download | Share |