BNY Mellon Municipal Bond Fund
- TICKER DRTAX
- Fund Code 0054
- CUSIP 05588B104
- SHARE CLASS Single Share Class
-
Literature Download
Why invest in this Fund?
To pursue this goal, the fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal personal income tax.
The fund invests at least 75% of its assets in municipal bonds rated A or higher or the unrated equivalent as determined by the manager.
Morningstar Rating™ as of August 31, 2023 for the Single Share Class class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 4 Stars (269 funds rated); 3 Yrs. 3 Stars (269 funds rated); 5 Yrs. 3 Stars (238 funds rated); 10 Yrs. 4 Stars (182 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.
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.
Modified Duration to Worst is a measure of the sensitivity of the price of a bond to a change in interest rates, which in this case assumes that the bond is called at its earliest possible call date (Worst). Modified duration measures the expected change in a bond's price to a 1% change in interest rates. In general, the higher the duration, the more a bond's price will drop as interest rates rise.
Portfolio Managers
-
Daniel Marques, CFA
Senior Portfolio Manager, Insight North America, LLC
13 yr(s). on fund
-
Daniel Rabasco, CFA
Head of Municipal Bonds, Insight North America LLC
11 yr(s). on fund
Total Returns
Month End
Average Annual As of 09/30/23 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 09/30/23 |
YTD 09/30/23 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Municipal Bond Fund
DRTAX |
-3.62 | -0.80 | 2.42 | -2.33 | 0.75 | 2.21 | 4.88 |
Quarter End
Average Annual As of 09/30/23 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 09/30/23 |
YTD 09/30/23 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Municipal Bond Fund
DRTAX |
-3.62 | -0.80 | 2.42 | -2.33 | 0.75 | 2.21 | 4.88 |
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.
The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.
When applicable, returns reflect a contractual expense reduction, without which returns would have been lower. Please see contractual expense reduction information, if any, in the Prospectus Fee Table below.
Growth of $10,000 Investment
Past performance is no guarantee of future results.
Historical Performance
Past performance is no guarantee of future results.
Monthly
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.
Yearly
Investment return fluctuates and past performance is no guarantee of future results.
Prospectus Fee Table Expense Ratios
As of 12/30/22 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 0.60% |
Shareholder Service Fees | 0.05% |
Other Expenses | 0.08% |
Total Expenses | 0.73% |
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 10/04/23 Name |
30-Day Sec Yield (WITHOUT WAIVER) |
30-Day Sec Yield (WITH WAIVER) |
NAV | Change |
02/02/23 12 Month High Nav |
11/03/22 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|---|---|
DRTAX
|
3.87% | 3.87% | $10.15 |
-$0.01
-0.10%
|
$10.84 | $10.15 | -1.54% |
Yield fluctuates and past performance is no guarantee of future results.
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.
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Municipal National Intermediate
Morningstar Rating™ as of 08/31/23 for the Single Share Class shares; other classes may have different performance
characteristics. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall
4 Stars (269 funds rated); 3 Yrs.
3 Stars (269 funds rated); 5 Yrs.
3 Stars (238 funds rated); 10 Yrs.
4 Stars (182 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
161 out of 293 -
3 Year
117 out of 278 -
5 Year
121 out of 249 -
10 Year
89 out of 181
LIPPER CLASSIFICATION General & Insured Municipal Debt Funds
Main Risks
Municipal income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.
Risk Metrics
As of 08/31/23 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
DRTAX
|
6.07 | -0.16 | 0.98 | 98.46 | -0.52 |
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. Municipal Bond Index.
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.
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.
Dividend Schedule
As of 09/2023
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 ($) |
---|---|
09/2023 | 0.023837059 |
08/2023 | 0.025495050 |
07/2023 | 0.025211280 |
06/2023 | 0.024389863 |
05/2023 | 0.026716984 |
04/2023 | 0.022728476 |
03/2023 | 0.025179543 |
02/2023 | 0.022209293 |
01/2023 | 0.025557159 |
12/2022 | 0.023927307 |
11/2022 | 0.023640389 |
10/2022 | 0.024541838 |
All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid
Distributions History
Record Date | Ex-Dividend Date | Payable Date |
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 |
---|---|---|---|---|---|---|---|---|---|
12/22/21 | 12/23/21 | 12/23/21 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0782 | 0.0782 | 12.01 |
Record Date | Ex-Dividend Date | Payable Date |
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 |
---|---|---|---|---|---|---|---|---|---|
12/22/20 | 12/23/20 | 12/23/20 | 0.0000 | 0.0000 | 0.0016 | 0.0000 | 0.0618 | 0.0634 | - |
12/26/19 | 12/27/19 | 12/27/19 | 0.0000 | 0.0000 | 0.0029 | 0.0000 | 0.0878 | 0.0907 | - |
12/27/18 | 12/28/18 | 12/28/18 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0192 | 0.0192 | - |
12/27/17 | 12/28/17 | 12/28/17 | 0.0000 | 0.0000 | 0.0042 | 0.0000 | 0.0000 | 0.0042 | - |
12/18/13 | 12/19/13 | 12/19/13 | 0.0000 | 0.0000 | 0.0033 | 0.0000 | 0.0000 | 0.0033 | - |
12/05/02 | 12/06/02 | 12/06/02 | 0.0000 | 0.0000 | 0.0015 | 0.0000 | 0.0000 | 0.0015 | - |
12/06/01 | 12/07/01 | 12/07/01 | 0.0000 | 0.0000 | 0.0011 | 0.0000 | 0.0000 | 0.0011 | - |
12/06/00 | 12/07/00 | 12/07/00 | 0.0000 | 0.0000 | 0.0003 | 0.0000 | 0.0000 | 0.0003 | - |
12/08/99 | 12/09/99 | 12/09/99 | 0.0000 | 0.0000 | 0.0002 | 0.0000 | 0.0000 | 0.0002 | - |
12/08/98 | 12/09/98 | 12/09/98 | 0.0000 | 0.0000 | 0.0960 | 0.0000 | 0.0000 | 0.2237 | - |
12/03/97 | 12/04/97 | 12/04/97 | 0.0000 | 0.0000 | 0.0559 | 0.0000 | 0.0000 | 0.0679 | - |
12/04/96 | 12/05/96 | 12/05/96 | 0.0000 | 0.0000 | 0.0004 | 0.0000 | 0.0000 | 0.0081 | - |
See all rows... |
Literature
PRODUCT MATERIALS
- Download
- Share
- Subscribe
- Order
WHY MUNICIPALS ARE MORE THAN JUST TAX BENEFITS - BROCHURE | Download | Share | ||
MUNICIPAL BOND FRANCHISE PITCHBOOK | Download | Share | ||
BNY Mellon Municipal Bond Fund - Commentary | Download | Share |
Factsheet, Prospectus and Reports
- Download
- Share
- Subscribe
- Order