BNY Mellon 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
$2,828,246,239  As of  10/18/19
Class Assets
$1,516,297,517  As of  10/18/19
Portfolio Turnover Rate
87.13%  As of fiscal year end  10/31/18
Morningstar Category
Multialternative
Benchmark
FTSE One-Month U.S. Treasury Bill Index
Morningstar Overall Rating
Fund Holdings
142  As of  09/30/19

Morningstar Rating™ as of September 30, 2019 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 5 Stars (248 funds rated); 3 Yrs. 4 Stars (248 funds rated); 5 Yrs. 5 Stars (178 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  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Real Return Fund
DRRIX
7.92 3.32 3.57 - 4.41 05/12/10
FTSE One-Month U.S. Treasury Bill Index
2.33 1.48 0.92 0.49 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Real Return Fund
DRRIX
7.92 3.32 3.57 - 4.41 05/12/10
FTSE One-Month U.S. Treasury Bill Index
2.33 1.48 0.92 0.49 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Real Return Fund
DRRIX
7.92 10.31 19.17 - 50.01 05/12/10
FTSE One-Month U.S. Treasury Bill Index
2.33 4.51 4.69 4.99 - -
As of  09/30/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Global Real Return Fund
DRRIX
7.92 10.31 19.17 - 50.01 05/12/10
FTSE One-Month U.S. Treasury Bill Index
2.33 4.51 4.69 4.99 - -
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 2018 2017 2016 2015 2014 2013 2012 2011
    DRRIX
    1.11% 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.


    Prospectus Fee Table Expense Ratios

    As of  03/01/19 Fee Description Expense Ratio (%)
    Management Fee 0.75%
    Other Expenses 0.15%
    Total Expenses 0.90%
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until March 1, 2020, 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, 2020, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation at this time.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. BNY Mellon Investment Adviser, Inc. has engaged its affiliate, Newton Investment Management (North America) Limited ("Newton"), to serve as the fund's sub-adviser. Suzanne Hutchins, Aron Pataki and Andrew Warwick are the fund's primary portfolio managers, positions they have held since December 2010, December 2015 and January 2019, respectively. Ms. Hutchins and Messrs. Pataki and Warwick are global investment managers and members of the real return team at Newton.

    Top Holdings

    As of  09/30/19   Holdings % Portfolio  Weight
    GRR Commodity Fund 9.88
    USA Treasury Notes, 3.375%, 11/15/2048 6.07
    USA Treasury Notes, 2.75%, 09/30/2020 5.15
    USA Treasury Notes, 2.875%, 05/15/2049 2.41
    Government Of Australia, 3.0%, 3/21/2047 1.87
    Canada Housing Trust, 2.35%, 06/15/2027 1.59
    AIA Group 1.36
    Eversource Energy 1.32
    Government Of Brazil, 4.875%, 01/22/2021 1.18
    USA Treasury Notes, 3%, 02/15/2049 1.15

    Asset Allocation


        Daily Statistics

        As of  10/18/19 Name NAV Change 09/04/19  12 Month 
        High Nav
        12/28/18  12 Month 
        Low Nav
        YTD Return
        DRRIX
        $15.34
        $0.00
        0.00%
        $15.56 $13.99 9.42%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Multialternative


        Morningstar Rating™ as of 09/30/19 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 5 Stars (485 funds rated); 3 Yrs. 4 Stars (248 funds rated); 5 Yrs. 5 Stars (178 funds rated); 10 Yrs. Stars (59 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
          6 out of 203
        • 3 Year
          70 out of 174
        • 5 Year
          19 out of 122
        • 10 Year
          out of

        LIPPER CLASSIFICATION Absolute Return 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  09/30/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DRRIX
        4.89 0.18 0.28 15.22 0.37

        Dividend Schedule

        Declared
        Annually
        Distributed
        Annually
        Paid
        Annually
        Fiscal Year End
        Oct 31
        Year Dividend ($) Capital Gains ($)
        2018 0.5079 0.0000
        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
        0.3411 0.1668 0.0000 0.0000 0.0000 0.5079 13.99
        Record Date Ex-Dividend Date Payable Date
        DRRIX
        12/27/18 12/28/18 12/28/18
        (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
        Final 0.3411 0.1668 0.0000 0.0000 0.0000 0.5079 13.99
        Record Date Ex-Dividend Date Payable Date
        DRRIX
        12/27/18 12/28/18 12/28/18