Historical Prices

Start Date End Date

BNY Mellon Dynamic Total Return Fund

Why invest in this Fund?

The fund seeks total return. The fund pursues its goal by normally investing in instruments that provide investment exposure to global equity, bond, currency and commodity markets, and in fixed-income securities. The fund may invest in instruments that provide economic exposure to developed and, to a limited extent, emerging market issuers. The fund may invest up to 30% of its net assets in emerging market issuers and considers emerging market countries to be those included in the Morgan Stanley Capital International Emerging Markets Index.

Min. class investment
$1,000
Class Inception Date
05/02/06
Class Status
Not available for purchase by individual investors.
Fund Assets
$643,399,855  As of  07/10/20
Class Assets
$177,317,746  As of  07/10/20
Portfolio Turnover Rate
26.17%  As of fiscal year end  10/31/19
Morningstar Category
Multialternative
Benchmark
FTSE Three-Month U.S. Treasury Bill Index
Morningstar Overall Rating
Fund Holdings
309  As of  06/30/20

Morningstar Rating™ as of June 30, 2020 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 (252 funds rated); 3 Yrs. 3 Stars (252 funds rated); 5 Yrs. 3 Stars (191 funds rated); 10 Yrs. 5 Stars (65 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.

Portfolio Managers

  • Dagioglu, Vassilis

    Vassilis Dagioglu

    Managing Director, Head of Asset Allocation Portfolio Management, Mellon Investments Corporation

    10 yr(s). on fund

  • Stavena, James

    James Stavena

    Portfolio Manager, Mellon Investments Corporation

    10 yr(s). on fund

  • Curtil, Dimitri

    Dimitri Curtil

    Portfolio Manager, Dynamic Total Return

    0 yr(s). on fund

  • Zaches, Torrey

    Torrey Zaches

    Portfolio Manager, Mellon Investments Corporation

    10 yr(s). on fund


As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Dynamic Total Return Fund
AVGRX
0.34 2.03 1.20 5.83 3.14 05/02/06
FTSE Three-Month U.S. Treasury Bill Index
1.56 1.72 1.15 0.61 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Dynamic Total Return Fund
AVGRX
0.34 2.03 1.20 5.83 3.14 05/02/06
FTSE Three-Month U.S. Treasury Bill Index
1.56 1.72 1.15 0.61 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Dynamic Total Return Fund
AVGRX
0.34 6.23 6.16 76.29 54.99 05/02/06
FTSE Three-Month U.S. Treasury Bill Index
1.56 5.26 5.89 6.23 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Dynamic Total Return Fund
AVGRX
0.34 6.23 6.16 76.29 54.99 05/02/06
FTSE Three-Month U.S. Treasury Bill Index
1.56 5.26 5.89 6.23 - -
The FTSE Three-Month U.S. Treasury Bill Index consists of the last three-month Treasury bill month-end rates. The FTSE Three-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 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
    AVGRX
    15.06% -7.15% 7.70% 0.06% 0.00% 8.49% 14.30% 8.81% 0.43% 13.68%

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


    Prospectus Fee Table Expense Ratios

    As of  02/28/20 Fee Description Expense Ratio (%)
    Management Fee 1.10%
    Other Expenses 0.19%
    Total Expenses 1.29%
    Expenses Reimbursed 0.10%
    Net Expenses 1.19%
    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, for so long as the fund invests in the subsidiary, to waive the management fee it receives from the fund in the amount equal to the management fee paid to BNY Mellon Investment Adviser, Inc. by the subsidiary. The amount of the waiver shown reflects the management fee paid by the subsidiary based on the fund's current allocation to the subsidiary. In addition, BNY Mellon Investment Adviser, Inc., has also contractually agreed, until February 28, 2021, 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 1.19%. On or after February 28, 2021, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), and the fund's sub-adviser is Mellon Investments Corporation (Mellon), an affiliate of BNYM Investment Adviser. Investment decisions for the fund are made by the Global Asset Allocation Team at Mellon. The team members are Vassilis Dagioglu, James Stavena, Torrey Zaches, CFA and Dimitri Curtil. Mr. Dagioglu has been a primary portfolio manager of the fund since May 2010. Messrs. Stavena and Zaches have been primary portfolio managers of the fund since June 2010. Mr. Curtil has been a primary portfolio manager of the fund since May 2020. Mr. Dagioglu is a managing director and head of asset allocation portfolio management at Mellon. Mr. Stavena is a managing director and portfolio manager at Mellon. Mr. Zaches is a director and portfolio manager at Mellon. Mr. Curtil is the Chief Investment Officer and Head of Multi-Asset at Mellon.

    Top Holdings

    As of  06/30/20   Holdings % Portfolio  Weight
    US Treasury Notes 44.46
    Japanese 10 Yr Bond (Tokyo) 35.61
    Australian 10 Yr Bond 25.64
    FI-DTR FAB 10.37
    Hang Seng Index 8.41
    SMI 4.51
    3EQ0AUG0C3250 4.48
    SPDR Portfolio Intermediate Term Corporate Bond ETF 2.55
    S&P/ASX 200 2.28
    MSCI Emerging Markets Index Future 2.03

    Asset Allocation


        Daily Statistics

        As of  07/10/20 Name NAV Change 12/20/19  12 Month 
        High Nav
        03/23/20  12 Month 
        Low Nav
        YTD Return
        AVGRX
        $16.22
        $0.06
        0.37%
        $17.05 $14.01 -2.42%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Multialternative


        Morningstar Rating™ as of 06/30/20 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 (508 funds rated); 3 Yrs. 3 Stars (252 funds rated); 5 Yrs. 3 Stars (191 funds rated); 10 Yrs. 5 Stars (65 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
          95 out of 221
        • 3 Year
          107 out of 207
        • 5 Year
          127 out of 194
        • 10 Year
          24 out of 102

        LIPPER CLASSIFICATION Alternative Global Macro 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

        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.
        Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.
        Investing in foreign denominated and/or domiciled securities involves special risks, including changes incurrency 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 ata time when the security has appreciated in value, thus resulting in a loss.
        Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors.
        Derivatives and commodity-linked 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 isthe 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. Commodity-linked derivative instruments may involve additional costs and risks such as commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments.
        Recent market risks include pandemic risks related to COVID-19. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors.

        Risk Metrics

        As of  06/30/20, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        AVGRX
        8.27 -2.83 0.77 88.92 0.08

        Dividend Schedule

        Declared
        Annually
        Distributed
        Annually
        Paid
        Annually
        Fiscal Year End
        Oct 31
        Year Dividend ($) Capital Gains ($)
        2019 0.2166 0.3310
        2018 0.1892 0.0000
        2017 0.0000 0.8172
        2016 0.0000 0.0294
        2014 0.0296 0.0000
        2012 0.0070 0.0000
        2008 0.4230 0.0000
        2007 0.3010 0.1692
        2006 0.0701 0.1619
        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
        AVGRX
        0.2166 0.0000 0.2282 0.0000 0.1028 0.5476 16.51
        Record Date Ex-Dividend Date Payable Date
        AVGRX
        12/20/19 12/23/19 12/23/19
        (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
        AVGRX
        Final 0.2166 0.0000 0.2282 0.0000 0.1028 0.5476 16.51
        Record Date Ex-Dividend Date Payable Date
        AVGRX
        12/20/19 12/23/19 12/23/19