Historical Prices

Start Date End Date

BNY Mellon AMT-Free Municipal Bond Fund

Overview

Why invest in this Fund?

The fund seeks as high a level of current income exempt from federal income tax as is consistent with the preservation of capital. Accordingly, the fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal income tax and seeks to provide income exempt from the federal alternative minimum tax. The fund invests at least 65% of its assets in municipal bonds with an A or higher credit rating. The remaining 35% of its assets may be invested in municipal bonds with a credit quality lower than A, including high yield ("junk") bonds.

Min. class investment
$1,000
Class Inception Date
12/15/08
Class Status
Not available for purchase by individual investors.
Fund Assets
$1,360,232,454  As of  05/06/21
Class Assets
$786,916,365  As of  05/06/21
Portfolio Turnover Rate
20.01%  As of fiscal year end  08/31/20
Morningstar Category
Municipal National Intermediate
Benchmark
Bloomberg Barclays U.S. Municipal Bond Index
Morningstar Overall Rating
Fund Holdings
341  As of  03/31/21
Average Effective Maturity
13.89  yr(s).  As of  03/31/21
Average Effective Duration
6.82  yr(s).  As of  03/31/21

Morningstar Rating™ as of March 31, 2021 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate category. Fund ratings are out of 5 Stars: Overall 5 Stars (249 funds rated); 3 Yrs. 4 Stars (249 funds rated); 5 Yrs. 4 Stars (224 funds rated); 10 Yrs. 5 Stars (164 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. ©2021 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.

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Portfolio Managers

  • Casey, Thomas

    Thomas Casey

    Portfolio Manager, Mellon Investments Corporation

    7 yr(s). on fund

  • Rabasco, Daniel

    Daniel Rabasco

    Portfolio Manager, Mellon Investments Corporation

    9 yr(s). on fund

Performance

Average Annual Returns

Month End

As of  04/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon AMT-Free Municipal Bond Fund
DMBIX
 9.07 5.23 3.39 4.72 5.19 12/15/08

Quarter End

As of  03/31/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon AMT-Free Municipal Bond Fund
DMBIX
 6.01 4.79 3.36 4.79 5.17 12/15/08
Bloomberg Barclays U.S. Municipal Bond Index
 5.51 4.91 3.49 4.54 - -

Cumulative Returns

Month End

As of  04/30/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon AMT-Free Municipal Bond Fund
DMBIX
 9.07 16.51 18.11 58.61 291.22 12/15/08

Quarter End

As of  03/31/21 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon AMT-Free Municipal Bond Fund
DMBIX
 6.01 15.08 17.98 59.62 287.63 12/15/08
Bloomberg Barclays U.S. Municipal Bond Index
 5.51 15.47 18.72 55.84 - -
The Bloomberg Barclays U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

The total return performance figures presented for Class I shares of the fund represent the performance of the fund's Class Z for periods prior to December 15, 2008, the inception date for Class I shares, and the performance of Class I, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different. Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

Growth of $10,000 Investment

Historical Performance

    Not available for purchase by individual investors.

    Monthly

    Fund 04/21 03/21 02/21 01/21 12/20 11/20 10/20 09/20 08/20 07/20 06/20 05/20
    DMBIX
    		 2.12% 2.17% 2.21% 2.22% 2.27% 2.30% 2.33% 2.37% 2.37% 2.41% 2.51% 2.58%

    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.

    Yearly

    Fund 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
    DMBIX
    		 4.97% 7.81% 0.77% 5.71% -0.08% 3.95% 10.51% -3.48% 8.07% 11.27%

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

    Taxable Equivalent Yield Based on the Fund's 30-day SEC Yield

    30-Day SEC Yield With Waiver: 0.76%

    Combined Effective Federal Income Tax Rate

     

    As of  05/06/21
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon AMT-Free Municipal Bond Fund
    DMBIX
    		 1.06% 1.13% 1.20% 1.24% 1.34%

    Income is subject to state and local taxes. Capital gains, if any, are fully taxable.

    30-Day SEC Yield Without Waiver: 0.54%

    Combined Effective Federal Income Tax Rate

     

    As of  05/06/21
    Name 28.00% 33.00% 36.80% 38.80% 43.40%
    Joint Return $151,901 to $231,450 $231,451 to $250,000 $250,001 to $413,350 $413,351 to $466,950 Over $466,951
    Single Return $91,151 to $190,150 $190,151 to $200,000 $200,001 to $413,350 $413,351 to $415,050 Over $415,051
    BNY Mellon AMT-Free Municipal Bond Fund
    DMBIX
    		 0.75% 0.81% 0.85% 0.88% 0.95%

    Income is subject to state and local taxes. Capital gains, if any, are fully taxable.

    Restated yields do not reflect current undertaking in effect, which may be modified, extended, or terminated at any time.

    Fees & Expenses

    Prospectus Fee Table Expense Ratios

    As of  12/31/20 Fee Description Expense Ratio (%)
    Management Fee 0.60%
    Other Expenses 0.08%
    Total Expenses 0.68%
    Expenses Reimbursed 0.23%
    Net Expenses 0.45%
    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 December 31, 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 fund’s classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, brokerage commissions, interest expenses, commitment fees on borrowings and extraordinary expenses) exceed .45%. On or after December 31, 2021, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.
    Portfolio

    Portfolio Manager/Sub-Investment Adviser

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). Thomas Casey and Daniel Rabasco, CFA are the fund's primary portfolio managers, positions they have held since July 2014 and February 2012, respectively. Mr. Casey is a director and senior portfolio manager for tax-sensitive strategies at Mellon Investments Corporation (Mellon), an affiliate of BNYM Investment Adviser. Mr. Rabasco is a managing director and the head of municipal bond strategies at Mellon. Messrs. Casey and Rabasco also are employees of BNYM Investment Adviser.
    Please see prospectus for recent announcement regarding the sub-adviser.

    Asset Allocation

        Stats & Risks

        Daily Statistics

        As of  05/06/21 Name 30-Day Sec Yield 
        (WITHOUT WAIVER)        		 30-Day Sec Yield 
        (WITH WAIVER)        		 NAV Change 02/10/21  12 Month 
        High Nav        		 06/01/20  12 Month 
        Low Nav        		 YTD Return
        DMBIX
        		 0.54% 0.76% $14.78
        $0.00
        0.00%
        		 $14.92 $14.27 0.68%

        Performance Metrics

        Overall Morningstar Rating

        MORNINGSTAR CATEGORY Municipal National Intermediate

        Morningstar Rating™ as of 03/31/21 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Municipal National Intermediate. Fund ratings are out of 5 Stars: Overall 5 Stars (249 funds rated); 3 Yrs. 4 Stars (249 funds rated); 5 Yrs. 4 Stars (224 funds rated); 10 Yrs. 5 Stars (164 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
          183 out of 288
        • 3 Year
          112 out of 254
        • 5 Year
          117 out of 221
        • 10 Year
          72 out of 164

        LIPPER CLASSIFICATION General & Insured Municipal Debt 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.
        Municipal income may be subject to state and local taxes. Capital gains, if any, are taxable.
        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  03/31/21, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DMBIX
        		 4.54 -0.47 1.11 97.76 0.76
        Distributions

        Dividend Schedule

        Declared
        Daily
        Distributed
        Monthly
        Paid
        Monthly
        Fiscal Year End
        Aug 31
        Annualized Distribution Rate
        2.12%
        As of  04/2021
        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 ($)
        04/2021 0.025766608
        03/2021 0.028712717
        02/2021 0.024768609
        01/2021 0.026180253
        12/2020 0.028539324
        11/2020 0.028722211
        10/2020 0.027846893
        09/2020 0.028407385
        08/2020 0.029438050
        07/2020 0.029962426
        06/2020 0.031821718
        05/2020 0.029292454
        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
        DMBIX
        		 0.0000 0.0000 0.0000 0.0000 0.0287 0.0287 14.45
        Record Date Ex-Dividend Date Payable Date
        DMBIX
        		 12/26/19 12/27/19 12/27/19
        Literature