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    BNY Mellon Massachusetts Intermediate Municipal Bond Fund

    Why invest in this Fund?

    The fund seeks as high a level of income exempt from federal and Massachusetts state income taxes as is consistent with the preservation of capital.

    To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds, the interest from which is exempt from federal and Massachusetts state personal income taxes. The fund also may invest in municipal bonds that are exempt from federal income taxes, but not Massachusetts personal income taxes, and in taxable bonds.

    The fund's investments in municipal and taxable bonds must be of investment grade (i.e. Baa/BBB or higher) quality at the time of purchase or, if unrated, deemed of comparable quality by the investment adviser. Generally, the fund's average effective portfolio maturity will be between three and ten years and its average effective portfolio duration will not exceed eight years. The fund may invest in individual municipal and taxable bonds of any maturity or duration.

    In calculating average effective portfolio maturity and average effective portfolio duration, the fund may treat a security that can be repurchased by its issuer on an earlier date (known as a "call date") as maturing on the call date rather than on its stated maturity date.
    Class Inception Date
    09/06/02
    Fund Assets
    $169,423,884  As of  03/24/23
    Class Assets
    $158,758,566  As of  03/24/23
    Portfolio Turnover Rate
    49.94% As of fiscal year end  08/31/22
    Morningstar Category
    Municipal Massachusetts
    Benchmark
    S&P Municipal Bond Investment Grade Intermediate Index
    Morningstar Overall Rating
    Fund Holdings
    133 As of 02/28/23
    AVERAGE EFFECTIVE MATURITY
    8.37 yr(s).  As of  02/28/23

    Morningstar Rating™ as of February 28, 2023 for the Class M class shares; other classes may have different performance characteristics. Overall rating for the Municipal Massachusetts category. Fund ratings are out of 5 Stars: Overall 4 Stars (42 funds rated); 3 Yrs. 5 Stars (42 funds rated); 5 Yrs. 4 Stars (40 funds rated); 10 Yrs. 3 Stars (31 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.

     

    Portfolio Managers

    • Mary Collette  O'Brien

      Mary Collette O'Brien

      Managing Director , The Bank of New York Mellon

      17 yr(s). on fund

    • Stephen J.  O'Brien

      Stephen J. O'Brien

      Portfolio Manager,

      7 yr(s). on fund


    Total Returns

    Average Annual
    As of 02/28/23
    Name 3 MO
    02/28/23
    YTD
    02/28/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Massachusetts Intermediate Municipal Bond Fund
    MMBMX
    0.73 0.54 -3.44 -1.48 1.46 1.41 3.75
    S&P Municipal Bond Investment Grade Intermediate Index
    0.72 0.27 -3.23 -1.03 1.80 2.02 -
    Average Annual
    As of 12/31/22
    Name 3 MO
    12/31/22
    YTD
    12/31/22
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Massachusetts Intermediate Municipal Bond Fund
    MMBMX
    3.79 -6.90 -6.90 -0.73 1.08 1.44 3.75
    S&P Municipal Bond Investment Grade Intermediate Index
    4.13 -6.41 -6.41 -0.27 1.45 2.09 -

    The S&P Municipal Bond Investment Grade Intermediate Index consists of bonds in the S&P Municipal Bond Index that are rated at least BBB- by Standard & Poor’s, Baa3 by Moody’s or BBB- by Fitch Ratings. All bonds must also have a minimum maturity of 3 years and a maximum maturity of up to, but not including, 15 years as measured from the rebalancing date. Investors cannot invest directly in any index.

    The total return performance figures presented for Class M shares of the fund represent the performance of the fund's Class R for periods prior to September 06, 2002, the inception date for Class M shares, and the performance of Class M, 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.

    Growth of $10,000 Investment

    Historical Performance


      Prospectus Fee Table Expense Ratios

      As of  12/30/22 Fee Description Expense Ratio (%)
      Management Fee 0.35%
      Administration Fee 0.13%
      Other Expenses 0.06%
      Total Expenses 0.54%

      Portfolio Manager/Sub-Investment Adviser

      The investment adviser for the fund is BNY Mellon Fund Advisers, a division of BNY Mellon Investment Adviser, Inc. Mary Collette O'Brien and Stephen J. O'Brien are the fund's primary portfolio managers, positions they have held since March 2006 and September 2015, respectively. Ms. O'Brien and Mr. O'Brien are managing director and senior associate, respectively, of The Bank of New York Mellon. Ms. O'Brien and Mr. O'Brien manage the fund in their capacity as employees of BNY Mellon Investment Adviser, Inc.

      Asset Allocation


          Daily Statistics

          As of 03/24/23 Name 30-Day Sec Yield
          (WITHOUT WAIVER)
          30-Day Sec Yield
          (WITH WAIVER)
          NAV Change 04/04/22  12 Month 
          High Nav
          10/25/22  12 Month 
          Low Nav
          YTD Return
          MMBMX
          2.82% 2.82% $12.16
          $0.03
          0.25%
          $12.35 $11.52 2.11%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Municipal Massachusetts


          Morningstar Rating™ as of 02/28/23 for the Class M shares; other classes may have different performance characteristics. Overall rating for the Municipal Massachusetts. Fund ratings are out of 5 Stars: Overall 4 Stars (42 funds rated); 3 Yrs. 5 Stars (42 funds rated); 5 Yrs. 4 Stars (40 funds rated); 10 Yrs. 3 Stars (31 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
            13 out of 76
          • 3 Year
            21 out of 75
          • 5 Year
            5 out of 75
          • 10 Year
            10 out of 56

          LIPPER CLASSIFICATION Other States Intermediate Muni Debt Fds


          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

          The fund is subject generally to interest rate, credit, liquidity, call, and market risks, to varying degrees, all of which are more fully described in the fund's prospectus.
          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 primarily in a single state may make the fund's portfolio securities more sensitive to risks specific to the state.
          Please refer to the prospectus for a more complete discussionimely basis and to repay principal upon maturity.
          Investing primarily in a single state may make the fund's portfolio securities more sensitive to risks specific to the state.
          Please refer to the prospectus for a more complete discussion oof the fund's main risks.f the fund's main risks.
          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  02/28/23  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          MMBMX
          6.00 -0.19 0.89 98.30 -0.39

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.



          Dividend Schedule

          Declared
          Daily
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          Aug 31
          Annualized Distribution Rate
          2.27%
          As of  02/2023
          Month/Year Dividend ($)
          02/2023 0.020860647
          01/2023 0.024384294
          12/2022 0.022946235
          11/2022 0.022951552
          10/2022 0.023051927
          09/2022 0.021856272
          08/2022 0.023211394
          07/2022 0.019884246
          06/2022 0.020469720
          05/2022 0.021587173
          04/2022 0.019508091
          03/2022 0.020855367

          Distributions History

          Record Date Ex-Dividend Date Payable Date 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
          12/22/21 12/23/21 12/23/21 0.0000 0.0000 0.0008 0.0000 0.0060 0.0068 13.13
          Record Date Ex-Dividend Date Payable Date 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
          12/27/17 12/28/17 12/28/17 0.0000 0.0000 0.0000 0.0000 0.0038 0.0038 -
          12/28/16 12/29/16 12/29/16 0.0000 0.0000 0.0059 0.0000 0.1234 0.1293 -
          12/18/13 12/19/13 12/19/13 0.0000 0.0000 0.0000 0.0000 0.0860 0.0860 -
          12/12/12 12/13/12 12/13/12 0.0000 0.0000 0.0008 0.0000 0.1459 0.1467 -
          12/07/11 12/08/11 12/08/11 0.0000 0.0000 0.0000 0.0000 0.0051 0.0051 -
          12/08/10 12/09/10 12/09/10 0.0000 0.0000 0.0001 0.0000 0.0698 0.0699 -
          12/15/05 12/16/05 12/16/05 0.0000 0.0000 0.0127 0.0000 0.0160 0.0287 -

          Literature

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