Dreyfus Global Real Return Fund

Why invest in this Fund?

The fund seeks total return (consisting of capital appreciation and income). To pursue its investment objective, the fund uses an actively-managed multi-asset strategy to produce absolute or real returns with less volatility than major equity markets over a complete market cycle, typically a period of five years. Rather than managing to track a benchmark index, the fund seeks to provide returns that are largely independent of market moves.

Min. class investment
$1,000
Class Inception Date
05/12/10
Class Status
Not available for purchase by individual investors.
Fund Assets
$1,599,178,700  As of  12/18/18
Class Assets
$727,391,276  As of  12/18/18
Portfolio Turnover Rate
79.00%  As of fiscal year end  10/31/17
Morningstar Category
Multialternative
Benchmark
FTSE One-Month U.S. Treasury Bill Index
Morningstar Overall Rating
Fund Holdings
134  As of  11/30/18

Morningstar Rating™ as of November 30, 2018 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Multialternative category. Fund ratings are out of 5 Stars: Overall 4 Stars (288 funds rated); 3 Yrs. 4 Stars (288 funds rated); 5 Yrs. 4 Stars (166 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.


As of  11/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Global Real Return Fund
DRRIX
0.46 2.40 2.44 - 3.69 05/12/10
FTSE One-Month U.S. Treasury Bill Index
1.72 0.88 0.53 0.30 - -
As of  09/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Global Real Return Fund
DRRIX
3.33 3.46 3.18 - 4.00 05/12/10
FTSE One-Month U.S. Treasury Bill Index
1.51 0.76 0.46 0.27 - -
As of  11/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Global Real Return Fund
DRRIX
0.46 7.39 12.83 - 36.27 05/12/10
FTSE One-Month U.S. Treasury Bill Index
1.72 2.66 2.70 3.06 - -
As of  09/30/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Global Real Return Fund
DRRIX
3.33 10.76 16.92 - 39.00 05/12/10
FTSE One-Month U.S. Treasury Bill Index
1.51 2.29 2.33 2.74 - -
The FTSE One-Month U.S.Treasury Bill Index consists of the last one-month Treasury bill month-end rates. The FTSE One-Month U.S. Treasury Bill Index measures return equivalents of yield averages. The instruments are not marked to market. Investors cannot invest directly in any index.

Growth of $10,000 Investment

Historical Performance

    Not available for purchase by individual investors.

    Yearly Total Return

    Fund 2017 2016 2015 2014 2013 2012 2011
    DRRIX
    4.29% 2.68% 0.00% 4.36% 7.07% 4.26% -0.01%

    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 0.75%
    Other Expenses 0.14%
    Total Expenses 0.89%

    Prospectus Fee Table Expense Ratios

    As of  03/01/18 Fee Description Expense Ratio (%)
    Management Fee 0.75%
    Other Expenses 0.15%
    Total Expenses 0.90%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 1, 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 0.90%. On or after March 1, 2019, The Dreyfus Corporation may terminate this expense limitation at this time.

    Portfolio Manager/Sub-Investment Advisor

    Suzanne Hutchins and Aron Pataki are the fund's primary portfolio managers, positions they have held since December 2010 and December 2015, respectively. Ms. Hutchins and Mr. Pataki are global investment managers and members of the real return team at Newton.

    Top Holdings

    As of  11/30/18   Holdings % Portfolio  Weight
    USA Treasury Notes, 2.25%, 11/15/2027 12.14
    USA Treasury Notes, 2.75%, 09/30/2020 9.42
    Government Of Germany, 0.25%, 08/15/2028 3.76
    Government Of Australia, 3.0%, 3/21/2047 2.11
    Novartis 2.02
    Cisco Systems 2.01
    Canada Housing Trust, 2.35%, 06/15/2027 1.74
    Government Of Australia, 3.75%, 4/21/2037 1.55
    AIA Group 1.30
    Government Of New Zealand, 4.5%, 04/15/2027 1.23

    Daily Statistics

    As of  12/18/18 Name NAV Change 08/29/18  12 Month 
    High Nav
    02/08/18  12 Month 
    Low Nav
    YTD Return
    DRRIX
    $14.46
    $0.04
    0.28%
    $14.78 $13.90 0.63%

    Performance Metrics

    Overall Morningstar Rating


    MORNINGSTAR CATEGORY Multialternative


    Morningstar Rating™ as of 11/30/18 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Multialternative. Fund ratings are out of 5 Stars: Overall 4 Stars (511 funds rated); 3 Yrs. 4 Stars (288 funds rated); 5 Yrs. 4 Stars (166 funds rated); 10 Yrs. Stars (57 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
      42 out of 201
    • 3 Year
      47 out of 159
    • 5 Year
      9 out of 76
    • 10 Year
      out of

    LIPPER CLASSIFICATION Alternative Multi-Strategy 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.

    Small and midsized company stocks tend to be more volatile and less liquid than larger company stocks as these companies are less established and havemore volatile earnings histories.

    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.

    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.

    Short sales involve selling a security the portfolio does not own in anticipation that the security's price will decline. Short sales may involve risk and leverage, and expose the portfolio to the risk that it will be required to buy the security sold short at a time when the security has appreciated in value, thus resulting in a loss.

    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 portfolio's other investments.

    Risk Metrics

    As of  11/30/18, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
    DRRIX
    5.11 0.00 0.26 9.49 0.29

    Dividend Schedule

    Declared
    Annually
    Distributed
    Annually
    Paid
    Annually
    Fiscal Year End
    Oct 31
    Year Dividend ($) Capital Gains ($)
    2017 0.1258 0.0000
    2016 0.4147 0.0000
    2015 0.6220 0.0000
    2014 0.7230 0.0085
    2013 0.0650 0.1247
    2012 0.0900 0.0000
    2011 0.1250 0.0732
    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
    DRRIX
    0.0000 0.1258 0.0000 0.0000 0.0000 0.1258 14.37
    Record Date Ex-Dividend Date Payable Date
    DRRIX
    12/27/17 12/28/17 12/28/17
    (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
    DRRIX
    Estimated 0.4709 0.0000 0.0000 0.0000 0.0000 0.4709 -
    Record Date Ex-Dividend Date Payable Date
    DRRIX
    12/27/18 12/28/18 12/28/18