Historical Prices

Start Date End Date

BNY Mellon Alternative Diversifier Strategies Fund

Why invest in this Fund?

The fund seeks long-term capital appreciation. The fund is designed to complement and diversify traditional stock and bond portfolios. The fund normally allocates its assets among other investment companies (the underlying funds) that employ alternative investment strategies. Underlying funds may include other funds in the BNY Mellon Family of Funds and unaffiliated open-end funds, closed-end funds and ETFs.

Min. class investment
$1,000
Class Inception Date
03/31/14
Fund Assets
$334,243,288  As of  10/19/20
Class Assets
$41,295  As of  10/19/20
Portfolio Turnover Rate
51.61%  As of fiscal year end  10/31/19
Morningstar Category
Multialternative
Benchmark
S&P 500(r) Index
Fund Holdings
11  As of  09/30/20

Morningstar Rating™ as of September 30, 2020 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the Multialternative category. Fund ratings are out of 5 Stars: Overall 2 Stars (247 funds rated); 3 Yrs. 3 Stars (247 funds rated); 5 Yrs. 2 Stars (192 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

  • Mortimer, Jeffrey M.

    Jeffrey M. Mortimer

    Portfolio Manager

    6 yr(s). on fund

  • Lee-Tsao, Caroline

    Caroline Lee-Tsao

    Portfolio Manager

    5 yr(s). on fund


Click here to see SALES CHARGE  Max Sales Charge:  5.75% Front End Load
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Alternative Diversifier Strategies Fund
DRNAX
-6.93 -1.31 -0.36 - -0.29 03/31/14
S&P 500(r) Index
15.15 12.28 14.15 13.74 - -
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Alternative Diversifier Strategies Fund
DRNAX
-6.93 -1.31 -0.36 - -0.29 03/31/14
S&P 500(r) Index
15.15 12.28 14.15 13.74 - -
Click here to see SALES CHARGE  Max Sales Charge:  5.75% Front End Load
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Alternative Diversifier Strategies Fund
DRNAX
-6.93 -3.87 -1.79 - -1.84 03/31/14
S&P 500(r) Index
15.15 41.55 93.80 262.44 - -
As of  09/30/20 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon Alternative Diversifier Strategies Fund
DRNAX
-6.93 -3.87 -1.79 - -1.84 03/31/14
S&P 500(r) Index
15.15 41.55 93.80 262.44 - -
The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

Growth of $10,000 Investment

Historical Performance

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

    Yearly Total Return

    Fund 2019 2018 2017 2016 2015
    DRNAX
    11.04% -6.66% 4.74% -1.06% -1.63%

    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 0.25%
    Service Fee 0.25%
    Other Expenses 0.47%
    Acquired Fund Fees & Expenses 1.20%
    Total Expenses 2.17%
    Expenses Reimbursed 0.17%
    Net Expenses 2.00%
    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 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 .55%. On or after February 28, 2021, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time. Because "acquired fund fees and expenses" are incurred indirectly by the fund, such fees and expenses are not included in the expense limitation.

    Sales Charge

    Investment Amount Sales Charge
    Less than $50,000 5.75%
    Less than $100,000 4.50%
    Less than $250,000 3.50%
    Less than $500,000 2.50%
    Less than $1,000,000 2.00%
    Over $1,000,000 0.00%
    There is a 1% CDSC for purchases of $1,000,000 and over if redeemed within one year of purchase.

    Portfolio Manager/Sub-Investment Advisor

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. Caroline Lee-Tsao and Jeffrey M. Mortimer, CFA, are the fund's primary portfolio managers responsible for investment allocation decisions, positions they have held since November 2015 and the fund's inception in March 2014, respectively. Ms. Lee-Tsao is the Senior Investment Strategist for BNY Mellon Wealth Management and Mr. Mortimer is Director of Investment Strategy for BNY Mellon Wealth Management. Ms. Lee-Tsao and Mr. Mortimer are employees of The Bank of New York Mellon and BNY Mellon Investment Adviser, Inc., and manage the fund in their capacity as employees of The Bank of New York Mellon and BNY Mellon Investment Adviser, Inc.

    Asset Allocation


        Daily Statistics

        As of  10/19/20 Name NAV Change 12/27/19  12 Month 
        High Nav
        03/23/20  12 Month 
        Low Nav
        YTD Return
        DRNAX
        $12.52
        -$0.08
        -0.63%
        $13.09 $10.65 -2.26%

        Main Risks

        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 in currencyexchange 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.
        Risks ofinvesting in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technologicaldevelopments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions.
        Currencies are subject to the risk that those currencies will decline in value relativeto a local currency, or, in the case of hedged positions, that the local currency will decline relative to the currency being hedged. Each of these risks could increase the fund's volatility.
        Commodities contain heightened risk includingmarket, 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 is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or theportfolio'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, livestockdisease, embargoes, tariffs and international economic, political and regulatory developments. Short sales involve selling a security the portfolio does not own in anticipation that the security's price will decline.
        Short sales may involverisk 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.
        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  09/30/20, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DRNAX
        7.43 -4.17 0.68 92.56 -0.09

        Dividend Schedule

        Declared
        Annually
        Distributed
        Annually
        Paid
        Annually
        Fiscal Year End
        Oct 31
        Year Dividend ($) Capital Gains ($)
        2019 0.1346 0.1245
        2018 0.0165 0.0589
        2017 0.0458 0.0000
        2016 0.0100 0.0000
        2015 0.0748 0.0000
        2014 0.1624 0.0049
        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
        DRNAX
        0.0000 0.1346 0.0000 0.0003 0.1242 0.2591 12.81
        Record Date Ex-Dividend Date Payable Date
        DRNAX
        12/30/19 12/31/19 12/31/19
        (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
        DRNAX
        Final 0.0000 0.1346 0.0000 0.0003 0.1242 0.2591 12.81
        Record Date Ex-Dividend Date Payable Date
        DRNAX
        12/30/19 12/31/19 12/31/19