Historical Prices

Start Date End Date

BNY Mellon High Yield Fund

Why invest in this Fund?

The fund seeks to maximize total return, consisting of capital appreciation and current income. To pursue this goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed-income securities that, at the time of purchase, are rated below investment grade ('high yield' or 'junk' bonds) or are the unrated equivalent as determined by the manager.
Min. class investment
$1,000
Class Inception Date
06/02/97
Class Status
Not available for purchase by individual investors.
Fund Assets
$928,351,914  As of  07/14/20
Class Assets
$800,530,544  As of  07/14/20
Portfolio Turnover Rate
67.61%  As of fiscal year end  12/31/19
Morningstar Category
High Yield Bond
Benchmark
ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index
Morningstar Overall Rating
Fund Holdings
383  As of  06/30/20
Average Effective Maturity
5.07  yr(s).  As of  06/30/20
Average Effective Duration
3.59  yr(s).  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 High Yield Bond category. Fund ratings are out of 5 Stars: Overall 3 Stars (639 funds rated); 3 Yrs. 3 Stars (639 funds rated); 5 Yrs. 3 Stars (546 funds rated); 10 Yrs. 3 Stars (346 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

  • Barris, Chris

    Chris Barris

    Global Head of High Yield, Deputy CIO, Alcentra

    10 yr(s). on fund

  • Cronk, Kevin

    Kevin Cronk

    Head of U.S. Credit Research, Alcentra

    8 yr(s). on fund

  • Hart, Leland

    Leland Hart

    Alcentra

    2 yr(s). on fund


As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Fund
DLHRX
-0.68 2.63 3.60 5.72 4.81 06/02/97
ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index
-1.17 2.92 4.57 6.46 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Fund
DLHRX
-0.68 2.63 3.60 5.72 4.81 06/02/97
ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index
-1.17 2.92 4.57 6.46 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Fund
DLHRX
-0.68 8.09 19.32 74.34 195.84 06/02/97
ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index
-1.17 9.02 25.05 87.02 - -
As of  06/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon High Yield Fund
DLHRX
-0.68 8.09 19.32 74.34 195.84 06/02/97
ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index
-1.17 9.02 25.05 87.02 - -
The ICE BofA Merrill Lynch U.S. High Yield Master II Constrained Index contains all securities in the ICE BofA Merrill Lynch U.S. High Yield Index but caps issuer exposure at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. Similarly, the face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis. Investors cannot invest directly in any index.

Growth of $10,000 Investment

Historical Performance

    Not available for purchase by individual investors.
    Fund 06/20 05/20 04/20 03/20 02/20 01/20 12/19 11/19 10/19 09/19 08/19 07/19
    DLHRX
    5.65% 5.74% 5.76% 6.06% 5.20% 5.14% 5.35% 5.36% 5.35% 5.54% 5.60% 5.54%

    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.

    Fund 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
    DLHRX
    14.89% -3.80% 7.21% 13.17% -3.96% 1.64% 7.92% 14.84% 1.74% 12.59%

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


    Prospectus Fee Table Expense Ratios

    As of  05/01/20 Fee Description Expense Ratio (%)
    Management Fee 0.70%
    Other Expenses 0.01%
    Total Expenses 0.71%
    Expenses Reimbursed 0.01%
    Net Expenses 0.70%
    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 agreed in its investment management agreement with the fund to: (1) pay all of the fund's expenses, except management fees, Rule 12b-1 fees and certain other expenses, including the fees and expenses of the non-interested board members and their counsel, and (2) reduce its fees pursuant to the investment management agreement in an amount equal to the fund's allocable portion of the fees and expenses of the non-interested board members and their counsel (in the amount of .01% for the past fiscal year). These provisions in the investment management agreement may not be amended without the approval of the fund's shareholders.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. Chris Barris, Kevin Cronk, CFA, and Leland Hart are the fund's primary portfolio managers, positions they have held since October 2010, September 2012 and February 2018, respectively. Mr. Barris is Global Head of High Yield and Deputy Chief Investment Officer at Alcentra NY, LLC (Alcentra), an affiliate of BNY Mellon Investment Adviser, Inc. Mr. Cronk is a Managing Director and U.S. Loan Portfolio Manager at Alcentra. Mr. Hart is a Managing Director and Head of U.S. Loans and High Yield at Alcentra. Alcentra investment professionals manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.

    Asset Allocation


        Daily Statistics

        As of  07/14/20 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)
        30-Day Sec Yield 
        (WITH WAIVER)
        NAV Change 01/17/20  12 Month 
        High Nav
        03/23/20  12 Month 
        Low Nav
        YTD Return
        DLHRX
        5.16% 5.16% $5.81
        $0.00
        0.00%
        $6.21 $4.90 -3.28%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY High Yield Bond


        Morningstar Rating™ as of 06/30/20 for the Class I shares; other classes may have different performance characteristics. Overall rating for the High Yield Bond. Fund ratings are out of 5 Stars: Overall 3 Stars (1531 funds rated); 3 Yrs. 3 Stars (639 funds rated); 5 Yrs. 3 Stars (546 funds rated); 10 Yrs. 3 Stars (346 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
          186 out of 510
        • 3 Year
          157 out of 457
        • 5 Year
          168 out of 393
        • 10 Year
          117 out of 281

        LIPPER CLASSIFICATION


        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.
        High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.
        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 lessmarket liquidity. These risks generally are greater with emerging market countries.
        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
        DLHRX
        8.58 0.05 0.35 1.74 0.15

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Dec 31
        Annualized Distribution Rate
        5.65%
        As of  06/2020
        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 ($)
        06/2020 0.028456978
        05/2020 0.026135674
        04/2020 0.026082544
        03/2020 0.028305976
        02/2020 0.023979897
        01/2020 0.026791167
        12/2019 0.029034000
        11/2019 0.025994261
        10/2019 0.027744505
        09/2019 0.028864847
        08/2019 0.028230486
        07/2019 0.030709468
        All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.

        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
        DLHRX
        0.0000 0.0000 0.0094 0.0000 0.0000 0.0094 5.90
        Record Date Ex-Dividend Date Payable Date
        DLHRX
        12/03/18 12/04/18 12/04/18