BNY Mellon Municipal Opportunities Fund
- TICKER MOTMX
- Fund Code 6085
- CUSIP 05569M491
- SHARE CLASS
-
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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.
Morningstar Rating™ as of July 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 (265 funds rated); 3 Yrs. 4 Stars (265 funds rated); 5 Yrs. 5 Stars (244 funds rated); 10 Yrs. 5 Stars (179 funds rated).
Yields and Expense Ratio
SUBSIDIZED as of 08/30/24 |
UNSUBSIDIZED as of 08/30/24 |
ANNUALIZED DISTRIBUTION RATE as of 07/31/24 |
TAXABLE EQUIVALENT DISTRIBUTION * as of 07/31/24 |
PROSPECTUS FEE TABLE EXPENSE RATIO (%) as of 12/29/23 |
CONTRACTUAL FEE WAIVER END DATE |
|||
---|---|---|---|---|---|---|---|---|
30-DAY SEC YIELD | TAXABLE EQUIVALENT YIELD * | 30-DAY SEC YIELD | TAXABLE EQUIVALENT YIELD * | Net | Gross | |||
3.38 | 5.71 | 3.38 | 5.71 | 3.41 | 5.76 | 0.75 | 0.75 | - |
Yield fluctuates and past performance is no guarantee of future results.
The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.
Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.
The taxable-equivalent yield is the return that a taxable bond fund needs to possess for its yield to equal the yield on a comparable tax-exempt bond fund, such as a municipal bond fund.
Tax rates are subject to change; please consult with your financial or tax professional for information concerning your specific situation.
* Based on maximum combined federal and Medicare tax of 40.80%. Other taxes not included.
Portfolio Managers
-
John F. Flahive, CFA
Portfolio Manager, The Bank of New York Mellon
Managing Fund Since Inception
Total Returns
Month End
Average Annual As of 07/31/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 07/31/24 |
YTD 07/31/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Municipal Opportunities Fund
MOTMX |
2.83 | 2.48 | 6.38 | -0.50 | 1.85 | 3.07 | 5.62 |
Bloomberg U.S. Municipal Bond Index
|
2.16 | 0.50 | 3.74 | -0.86 | 1.18 | 2.47 | - |
Quarter End
Average Annual As of 06/30/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 06/30/24 |
YTD 06/30/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Municipal Opportunities Fund
MOTMX |
0.93 | 1.70 | 6.04 | -0.53 | 1.84 | 3.03 | 5.60 |
Bloomberg U.S. Municipal Bond Index
|
-0.02 | -0.40 | 3.21 | -0.88 | 1.16 | 2.39 | - |
The performance data quotes 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 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
Monthly
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
Investment return fluctuates and past performance is no guarantee of future results.
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
Asset Allocation
Daily Statistics
As of 08/30/24 Name | NAV | Change |
08/05/24 12 Month High Nav |
10/30/23 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|
MOTMX
|
$12.59 |
$0.00
0.00%
|
$12.71 | $11.42 | 3.13% |
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Municipal National Intermediate
Morningstar Rating™ as of 07/31/24 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 (265 funds rated); 3 Yrs.
4 Stars (265 funds rated); 5 Yrs.
5 Stars (244 funds rated); 10 Yrs.
5 Stars (179 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
35 out of 290 -
3 Year
28 out of 274 -
5 Year
17 out of 260 -
10 Year
13 out of 185
LIPPER CLASSIFICATION General & Insured Municipal Debt Funds
Main Risks
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 07/31/24 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
MOTMX
|
7.99 | 0.58 | 1.05 | 96.66 | -0.48 |
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
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 ($) |
---|---|
07/2024 | 0.036359078 |
06/2024 | 0.032106712 |
05/2024 | 0.038140715 |
04/2024 | 0.034981265 |
03/2024 | 0.035627903 |
02/2024 | 0.033549494 |
01/2024 | 0.035084391 |
12/2023 | 0.036853530 |
11/2023 | 0.034362392 |
10/2023 | 0.036968071 |
09/2023 | 0.032558147 |
08/2023 | 0.034517536 |
All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid.
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
Factsheet, Prospectus and Reports
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