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    BNY Mellon Municipal Opportunities Fund

    Why invest in this Fund?

    The fund seeks to maximize total return consisting of high current income exempt from federal income tax and capital appreciation. The fund's investment objective may be changed by the Trust's board upon 60 days' prior notice to shareholders. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in U.S. dollar-denominated fixed-income securities that provide income exempt from federal personal income tax (municipal bonds).

    While the fund typically invests in a diversified portfolio of municipal bonds, it may invest up to 20% of its net assets in taxable fixed-income securities, including taxable municipal bonds and non-U.S. dollar-denominated foreign debt securities such as Brady bonds and sovereign debt obligations. The fund may not achieve its investment objective when investing in taxable bonds.

    The fund invests at least 50% of its net assets in fixed-income securities that are rated investment grade (i.e., Baa/BBB or higher) or are the unrated equivalent as determined by BNYM Investment Adviser. For additional yield, the fund may invest up to 50% of its net assets in fixed-income securities that are rated below investment grade ("high yield" or "junk" bonds) or are the unrated equivalent as determined by BNYM Investment Adviser. The fund may invest in bonds of any maturity or duration and does not expect to target any specific range of maturity or duration. The dollar-weighted average maturity of the fund's portfolio will vary from time to time depending on the portfolio manager's views on the direction of interest rates.

    Although the fund normally invests at least 80% of its net assets in municipal bonds, the income from which is exempt from federal income tax, the fund may invest up to 50% of its net assets in municipal bonds, the income from which is subject to the federal alternative minimum tax.

    The fund's portfolio manager seeks to deliver value added excess returns ("alpha") by applying an investment approach designed to identify and exploit relative value opportunities within the municipal bond market and other fixed-income markets. Although the fund seeks to be diversified by geography and sector, the fund may at times invest a significant portion of its assets in a particular state or region or in a particular sector due to market conditions.

    Class Inception Date
    10/15/08
    Fund Assets
    $1,883,320,888  As of  02/28/24
    Class Assets
    $1,825,424,708  As of  02/28/24
    Portfolio Turnover Rate
    72.98% As of fiscal year end  08/31/23
    Morningstar Category
    Municipal National Intermediate
    Benchmark
    Bloomberg U.S. Municipal Bond Index
    Morningstar Overall Rating
    Fund Holdings
    651 As of 01/31/24
    AVERAGE EFFECTIVE MATURITY
    17.54 yr(s).  As of  01/31/24

    Morningstar Rating™ as of January 31, 2024 for the Class M 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 (259 funds rated); 3 Yrs. 4 Stars (259 funds rated); 5 Yrs. 5 Stars (236 funds rated); 10 Yrs. 5 Stars (176 funds rated).

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 02/28/24
    ANNUALIZED
    DISTRIBUTION RATE
    as of 01/31/24
    PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 12/29/23
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    3.47 3.47 3.42 0.75 0.75 -

    Portfolio Managers

    • John F. Flahive

      John F. Flahive, CFA

      Portfolio Manager, The Bank of New York Mellon

      15 yr(s). on fund


    Total Returns

    Average Annual
    As of 01/31/24
    Name 3 MO
    01/31/24
    YTD
    01/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities Fund
    MOTMX
    10.13 0.20 4.49 -0.40 2.45 3.40 5.65
    Bloomberg U.S. Municipal Bond Index
    8.26 -0.51 2.90 -0.78 2.00 2.78 -
    Average Annual
    As of 12/31/23
    Name 3 MO
    12/31/23
    YTD
    12/31/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Municipal Opportunities Fund
    MOTMX
    7.90 7.82 7.82 0.03 2.53 3.56 5.67
    Bloomberg U.S. Municipal Bond Index
    7.89 6.40 6.40 -0.40 2.25 3.03 -

    The Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

    Growth of $10,000 Investment

    Historical Performance


      Prospectus Fee Table Expense Ratios

      As of  12/29/23 Fee Description Expense Ratio (%)
      Management Fee 0.50%
      Administration Fee 0.14%
      Other Expenses 0.11%
      Total Expenses 0.75%
      Net Expenses 0.75%

      Portfolio Manager/Sub-Investment Adviser

      The investment adviser for the fund is BNY Mellon Investment Adviser. John F. Flahive is the fund's primary portfolio manager, a position he has held since the fund's inception in October 2008. Mr. Flahive is senior vice president of BNY Mellon Wealth Management. Mr. Flahive manages the fund in his capacity as an employee of BNY Mellon Investment Adviser, Inc.

      Asset Allocation


          Daily Statistics

          As of 02/28/24 Name NAV Change 02/01/24  12 Month 
          High Nav
          10/30/23  12 Month 
          Low Nav
          YTD Return
          MOTMX
          $12.48
          $0.01
          0.08%
          $12.54 $11.42 0.46%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Municipal National Intermediate


          Morningstar Rating™ as of 01/31/24 for the Class M 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 (259 funds rated); 3 Yrs. 4 Stars (259 funds rated); 5 Yrs. 5 Stars (236 funds rated); 10 Yrs. 5 Stars (176 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
            18 out of 291
          • 3 Year
            23 out of 275
          • 5 Year
            21 out of 255
          • 10 Year
            14 out of 183

          LIPPER CLASSIFICATION General & Insured Municipal Debt Funds


          Lipper Category returns and rankings as of 01/31/24, 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 generally subject to interest rate, call, credit, liquidity, foreign investment and market risks, to varying degrees, all of which are more fully described in the fund's prospectus.
          High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuers' perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.
          The fund is subject to risks associated with investing in municipal bonds. Other factors include the general conditions of the municipal bond market, the size of the particular offering, the maturity of the obligation and the rating of the issue.
          Please refer to the prospectus for a more complete discussion of the fund's main risks.

          Risk Metrics

          As of  01/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          MOTMX
          8.01 0.58 1.05 96.75 -0.35

          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
          Month/Year Dividend ($)
          01/2024 0.035084391
          12/2023 0.036853530
          11/2023 0.034362392
          10/2023 0.036968071
          09/2023 0.032558147
          08/2023 0.034517536
          07/2023 0.034576311
          06/2023 0.033347630
          05/2023 0.036905379
          04/2023 0.031832194
          03/2023 0.035318997
          02/2023 0.032275729

          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
          12/22/22 12/23/22 12/23/22 0.0000 0.0000 0.0570 0.0000 0.0926 0.1496
          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
          12/22/21 12/23/21 12/23/21 0.0000 0.0000 0.0103 0.0000 0.0091 0.0194
          12/27/18 12/28/18 12/28/18 0.0000 0.0000 0.0000 0.0000 0.0031 0.0031
          12/27/17 12/28/17 12/28/17 0.0000 0.0000 0.0048 0.0000 0.0000 0.0048
          12/28/16 12/29/16 12/29/16 0.0000 0.0000 0.0026 0.0000 0.0000 0.0026
          12/18/13 12/19/13 12/19/13 0.0000 0.0000 0.0022 0.0000 0.2651 0.2673
          12/12/12 12/13/12 12/13/12 0.0000 0.0000 0.0914 0.0000 0.0306 0.1220
          12/08/10 12/09/10 12/09/10 0.0000 0.0000 0.1808 0.0000 0.0000 0.1808
          12/09/09 12/10/09 12/10/09 0.0000 0.0000 0.3649 0.0000 0.0070 0.3719
          12/10/08 12/11/08 12/11/08 0.0000 0.0000 0.0071 0.0000 0.0000 0.0071

          Literature

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