Dreyfus Select Managers Small Cap Value Fund

Why invest in this Fund?

The fund seeks capital appreciation. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in the stocks of small cap companies. The fund currently considers small cap companies to be those companies with market capitalizations that fall within the range of companies in the Russell 2000 Value Index at the time of purchase.
Min. class investment
$1,000
Class Inception Date
12/17/08
Class Status
Not available for purchase by individual investors.
Fund Assets
$642,577,768  As of  03/18/19
Class Assets
$19,300,441  As of  03/18/19
Portfolio Turnover Rate
58.85%  As of fiscal year end  11/30/18
Morningstar Category
Small Blend
Benchmark
Russell 2000(r) Value Index
Morningstar Overall Rating
Fund Holdings
380  As of  02/28/19

Morningstar Rating™ as of February 28, 2019 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Small Blend category. Fund ratings are out of 5 Stars: Overall 3 Stars (638 funds rated); 3 Yrs. 3 Stars (638 funds rated); 5 Yrs. 2 Stars (528 funds rated); 10 Yrs. 3 Stars (387 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.

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.  Past performance is no guarantee of future results.  MBSC Securities Corporation, a registered broker-dealer and FINRA member, is the distributor for the Dreyfus Funds.

Portfolio Managers

  • Kolano, Stephen

    Stephen Kolano

    Head of Multi-Asset Solutions, BNY Investment Strategy & Solutions Group

    1 yr(s). on fund

  • Goncharova, Elena

    Elena Goncharova

    1 yr(s). on fund


As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Select Managers Small Cap Value Fund
DMVIX
1.93 13.90 5.57 15.73 13.03 12/17/08
Russell 2000(r) Value Index
4.42 14.95 6.48 15.43 - -
As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Select Managers Small Cap Value Fund
DMVIX
-14.89 5.35 2.25 11.26 11.46 12/17/08
Russell 2000(r) Value Index
-12.86 7.37 3.61 10.40 - -
As of  02/28/19 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Select Managers Small Cap Value Fund
DMVIX
1.93 47.77 31.10 330.84 248.82 12/17/08
Russell 2000(r) Value Index
4.42 51.91 36.85 319.94 - -
As of  12/31/18 Name 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Select Managers Small Cap Value Fund
DMVIX
-14.89 16.93 11.74 190.67 197.18 12/17/08
Russell 2000(r) Value Index
-12.86 23.79 19.38 168.94 - -

The performance data quoted represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor’s shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

The Russell 2000® Value Index measures the performance of the small-cap value segment of the U.S. equity universe. It includes those Russell 2000 companies that are considered more value-oriented relative to the overall market as defined by Russell’s leading style methodology. The Russell 2000® Value Index is constructed to provide a comprehensive and unbiased barometer for the small-cap value segment. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set and that the represented companies continue to reflect value characteristics.

Growth of $10,000 Investment

Past performance is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted.

Historical Performance

Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    Not available for purchase by individual investors.

    Yearly Total Return

    Fund 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
    DMVIX
    -14.89% 12.47% 22.16% -7.57% 3.38% 39.52% 18.08% -4.94% 27.95% 29.82%

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


    Monthly Expense Ratios (Annualized)

    As of  02/28/19 Fee Description Expense Ratio (%)
    Management Fee 0.90%
    Other Expenses 0.09%
    Total Expenses 0.99%

    This data is annualized. Monthly operating expenses may vary month to month.

    Prospectus Fee Table Expense Ratios

    As of  03/29/18 Fee Description Expense Ratio (%)
    Management Fee 0.90%
    Other Expenses 0.10%
    Total Expenses 1.00%
    The fund's investment adviser, The Dreyfus Corporation, has contractually agreed, until March 29, 2019, 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 1.05%. On or after March 29, 2019, The Dreyfus Corporation may terminate this expense limitation at this time.

    Portfolio Manager/Sub-Investment Advisor

    The Dreyfus Corporation ("Dreyfus"), the fund's investment adviser, assumes the portfolio allocation management responsibilities for evaluating and recommending subadvisers for the fund and determining the portion of the fund's assets to be managed by each subadviser. Dreyfus also is responsible for monitoring and evaluating the performance of the subadvisers for the fund and recommending to the fund's board whether a subadviser should be terminated.

    Stephen Kolano and Elena Goncharova are jointly and primarily responsible for the evaluation, recommendation and monitoring of subadvisers for the fund. Mr. Kolano is the Director of Quantitative Research & Analysis for BNY Mellon Wealth Management and President of BNY Mellon Wealth Management's Investment Strategy and Solutions Group ("ISSG"), a registered investment adviser. Ms. Goncharova is a portfolio manager and investment strategist with ISSG. Mr. Kolano and Ms. Goncharova have been employed by The Bank of New York Mellon Corporation since 2002 and 2012, respectively. Mr. Kolano and Ms. Goncharova also are employees of Dreyfus, each since 2018, and perform their responsibilities for the fund in their capacity as employees of Dreyfus. Currently, management of the fund's assets is under six sub-advisers—Thompson, Siegel and Walmsley LLC, Neuberger Berman Investment Advisers LLC, Kayne Anderson Rudnick Investment Management LLC, Channing Capital Management LLC, Eastern Shore Capital Management and Walthausen & Co. LLC.

    Top Holdings

    As of  02/28/19   Holdings % Portfolio  Weight
    Charles River Laboratories International 1.33
    Primerica 1.19
    Terreno Realty 1.12
    RBC Bearings 1.07
    Ingevity 1.06
    Centerstate Bank 1.04
    Meredith 0.97
    Scotts Miracle-Gro, Cl. A 0.93
    MGM Growth Properties, Cl. A 0.89
    TreeHouse Foods 0.87

    Portfolio composition is subject to change at any time. The holdings listed should not be considered recommendations to buy or sell a security. Large concentrations can increase share price volatility.

    Asset Allocation


        Daily Statistics

        As of  03/18/19 Name NAV Change 08/31/18  12 Month 
        High Nav
        01/03/19  12 Month 
        Low Nav
        YTD Return
        DMVIX
        $21.62
        $0.18
        0.84%
        $27.28 $18.33 16.30%

        Performance Metrics

        Overall Morningstar Rating


        MORNINGSTAR CATEGORY Small Blend


        Morningstar Rating™ as of 02/28/19 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Small Blend. Fund ratings are out of 5 Stars: Overall 3 Stars (1553 funds rated); 3 Yrs. 3 Stars (638 funds rated); 5 Yrs. 2 Stars (528 funds rated); 10 Yrs. 3 Stars (387 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
          615 out of 968
        • 3 Year
          394 out of 830
        • 5 Year
          477 out of 684
        • 10 Year
          265 out of 498

        LIPPER CLASSIFICATION Small-Cap Core 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

        Past performance is no guarantee of future results. Source: Lipper Inc., Rankings are based on total return and 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 have more volatile earnings histories.

        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.

        Multi-manager risk means each sub adviser makes investment decisions independently, and it is possible that the investment styles of the sub advisers may not complement one another. Consequently, the fund's exposure to a given stock, industry or investment style could be greater or smaller than if the fund had a single adviser.

        Risk Metrics

        As of  02/28/19, 3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
        DMVIX
        16.35 -4.23 1.27 76.04 0.80

        STANDARD DEVIATION - A statistical measure of dispersion around an average which depicts how widely fund returns varied over a certain period of time. A smaller standard deviation statistic indicates less variability of historic returns around a mean.

        ALPHA - A measure of a fund's actual returns compared to its expected performance, as measured by beta. A positive alpha indicates a fund outperformed what its beta would predict.

        BETA - Measures an investment's market-related risk. A beta higher than 1.0 suggests that the fund's expected return will exceeds the market's return; a beta lower than 1.0 suggests that the fund's expected return will lag the market's return.

        R-SQUARED - Reflects the percentage of a fund's movements that can be explained by movements in it's benchmark. An R-squared of 100 indicates fund movements that are perfectly correlated to those of the benchmark.

        SHARPE RATIO - The Sharpe ratio is based on a risk-adjusted measure developed by Nobel Laureate William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the fund's historical risk-adjusted performance.

        Source: Morningstar, Inc.


        Dividend Schedule

        Declared
        Annually
        Distributed
        Annually
        Paid
        Annually
        Fiscal Year End
        Nov 30
        Year Dividend ($) Capital Gains ($)
        2018 0.0922 2.6920
        2017 0.0487 1.4849
        2016 0.1300 0.0202
        2015 0.2355 1.2792
        2014 0.0000 2.9193
        2013 0.1525 2.1364
        2012 0.0784 0.9914
        2011 0.0410 1.6202
        2010 0.0034 1.1648
        2009 0.0000 0.0312
        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
        DMVIX
        0.0077 0.0845 0.0256 0.2822 2.3635 2.7635 18.59
        Record Date Ex-Dividend Date Payable Date
        DMVIX
        12/28/18 12/31/18 12/31/18
        (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
        DMVIX
        Final 0.0077 0.0845 0.0256 0.2822 2.3635 2.7635 18.59
        Record Date Ex-Dividend Date Payable Date
        DMVIX
        12/28/18 12/31/18 12/31/18

        Capital gains, if any, may be short-term, long-term or a combination of both.

        Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

        The performance data quoted represents past performance, which is no guarantee of future results. Share price, yield and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click here to view standardized total returns and for month-end returns reflecting the fund's current performance.