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    BNY Mellon New York AMT-Free Municipal Bond Fund

    Overview

    Why invest in this Fund?

    The fund seeks to maximize current income exempt from federal, New York state and New York city income taxes to the extent consistent with the preservation of capital. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal, New York state and New York city income taxes and the federal alternative minimum tax.

    Min. Class Investment
    $0
    Class Inception Date
    05/17/24
    Fund Assets
    $931,288,486  As of  06/28/24
    Class Assets
    $707,065,486  As of  06/28/24
    Portfolio Turnover Rate
    10.20% As of fiscal year end  11/30/23
    Benchmark
    Bloomberg U.S. Municipal Bond Index
    Fund Holdings
    221 As of 05/31/24
    AVERAGE EFFECTIVE MATURITY
    17.78 yr(s).  As of  05/31/24
    AVERAGE EFFECTIVE DURATION
    6.35 yr(s).  As of 05/31/24
    Yield To Worst
    4.21% As of 05/31/24

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 06/28/24     		ANNUALIZED
    DISTRIBUTION RATE
    as of 05/31/24     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 03/29/24
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    3.48 3.48 3.12 0.60 0.66 03/29/25

    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.

    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.

     

     

    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.

    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.

    Yield To Worst - The holding-weighted average rate of return for a portfolio equal to the discount rate of interest and principal cash flows where the principal is returned at the earliest allowable date. If the earliest return of principal is at the stated maturity the Yield to Maturity % will be the same as the Yield to Worst %.

    Portfolio Managers

    • Thomas Casey

      Thomas Casey

      Senior Portfolio Manager, Insight North America LLC

      Managing Fund Since December 2009

      Joined Firm in 1993

      Joined Industry in 1988
    • Daniel Rabasco

      Daniel Rabasco, CFA

      Head of Municipal Bonds, Insight North America LLC

      Managing Fund Since October 2014

      Joined Firm in 1998

      Joined Industry in 1987
    Performance

    Historical Performance

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

      Class Z shares are closed to new accounts.

       

      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.

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  03/29/24 Fee Description Expense Ratio (%)
      Management Fee 0.45%
      Shareholder Service Fees 0.05%
      Other Expenses 0.16%
      Total Expenses 0.66%
      Expenses Reimbursed 0.06%
      Net Expenses 0.60%
      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.
      The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until March 29, 2025, to waive receipt of its fees and/or assume the direct expenses of Class Z shares so that the direct expenses of Class Z shares of the fund (excluding shareholder services fees, taxes, brokerage commissions, interest expense, commitment fees on borrowings and extraordinary expenses) do not exceed .55%. To the extent that it is necessary for BNY Mellon Investment Adviser, Inc. to waive receipt of its management fee or reimburse the fund's common expenses, the amount of the waiver or reimbursement will be applied equally to each share class of the fund. BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time on or after March 29, 2025.
      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Insight North America LLC (INA), to serve as the fund's sub-investment adviser. Thomas Casey and Daniel Rabasco, CFA are the fund's primary portfolio managers, positions they have held since December 2009 and October 2014, respectively. Mr. Casey is a director and a senior portfolio manager for tax-sensitive strategies at Insight North America LLC (INA), an affiliate of BNYM Investment Adviser. Mr. Rabasco is a managing director and the head of municipal bonds at INA.
      Download Total Holdings
      Stats & Risks

      Daily Statistics

      As of 06/28/24 Name NAV Change 06/14/24  12 Month 
      High Nav       		05/29/24  12 Month 
      Low Nav       		YTD Return
      DNYAX
      		$13.61
      $0.01
      0.07%
      		$13.66 $13.43 -

      Past performance is no guarantee of future results.

      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.
      Municipal income may be subject to state and local taxes for out-of-state residents. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.
      Distributions

      Dividend Schedule

      Declared
      Daily
      Distributed
      Monthly
      Paid
      Monthly
      Fiscal Year End
      Nov 30

      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 ($)
      05/2024 0.016086707

      All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid

      Literature

      Literature

      PRODUCT MATERIALS

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      Annual Report Download
      Semi Annual Report Download

      Investors should consider the investment objectives, risks, charges, and expenses of a mutual fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

      This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

      Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.