BNY Mellon National Municipal Money Market Fund

Overview

Fund Objective / Approach

The fund seeks as high a level of current income exempt from federal income tax as is consistent with the preservation of capital and the maintenance of liquidity.

To pursue its goal, the fund normally invests at least 80% of its net assets in short-term, high-quality municipal obligations that provide income exempt from federal income tax. The fund seeks to invest in securities that present minimal credit risk, based on BNY Mellon Investment Adviser's assessment of the issuer's or guarantor's credit quality and capacity to meet its financial obligations, which may include environmental, social and governance (ESG) factors as appropriate and applicable, among other factors. The fund is a money market fund managed to meet the requirements of Rule 2A-7 under the Investment Company Act of 1940.
Total Fund Assets
$139,082,484  As of  09/13/24
Share Class Assets
$39,986  As of  09/13/24
Inception Date
06/02/03
Fiscal Year End
Aug 31
Trade Deadline
12 PM ET
WAM
1 Days  As of  09/13/24
WAL
1 Days  As of  09/13/24
Holdings
36 As of  08/31/24
Min Investment
-
Dividend Factor
0.000300500 As of  09/13/24
Fund Share Price
$1.00
MARKET VALUE NAV
$0.9997 As of 09/13/24
Class Status
Open
Fiscal Year End
Aug 31

Yields and Expense Ratio

1-DAY YIELD
as of 09/13/24 		7-DAY YIELD
as of 09/13/24 		30-DAY YIELD
as of 09/13/24 		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
as of 12/29/23
Subsidized Unsubsidized Subsidized Unsubsidized Subsidized Unsubsidized Net Gross Contractual
Fee Waiver
End Date
3.66 3.66 3.38 3.38 2.74 2.74 0.60 0.60 06/28/24

Daily Market Value NAV

As of  09/13/24
  Start Date End Date  
$0.9997

Portfolio Daily Net Inflow or Outflow

As of  09/12/24
  Start Date End Date  
$2,545,865 

Portfolio Weekly Liquid Assets

As of  09/13/24
Start Date End Date  
98.68%

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Performance

Average Annual Returns

Month End

As of 08/31/24  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon National Municipal Money Market Fund
MNTXX
2.96% 1.83% 1.21% 0.80% 0.86% 06/02/03

Quarter End

As of  06/30/24  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon National Municipal Money Market Fund
MNTXX
3.02% 1.69% 1.15% 0.75% 0.85% 06/02/03

Cumulative Returns

Month End

08/31/24  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon National Municipal Money Market Fund
MNTXX
0.23% 0.69% 2.96% 5.60% 6.19% 8.26% 20.06% 06/02/03

Quarter End

As of  06/30/24  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
BNY Mellon National Municipal Money Market Fund
MNTXX
0.26% 0.79% 3.02% 5.15% 5.90% 7.80% 19.54% 06/02/03

YTD Returns

As of  09/13/24 As of  08/31/24 As of  06/30/24
2.04% 1.91% 1.48%

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Monthly

Fund 08/24 07/24 06/24 05/24 04/24 03/24 02/24 01/24 12/23 11/23 10/23 09/23
MNTXX
2.65%  2.41%  3.13%  3.09%  3.20%  2.88%  2.81%  2.55%  2.99%  3.03%  3.16%  3.09% 

Investment return fluctuates and past performance is no guarantee of future results. As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability.

Yearly

Fund 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
MNTXX
2.80%  0.78%  0.02%  0.30%  0.96%  0.89%  0.30%  0.05%  0.00%  0.00% 

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

Portfolio

Asset Allocation

As of  08/31/24

      Maturity Distribution

      As of  08/31/24

      Portfolio composition is subject to change at any time. Maturity distribution reflects the final maturity date except for floating rate securities for which the next reset date is reflected.

      Holdings Report

      Fund Name Total Holdings  As of Historical Daily Holdings
      BNY Mellon National Municipal Money Market Fund
      		 09/13/24

      Portfolio composition is subject to change at any time.  The holdings listed should not be considered recommendations to buy or sell a security.

      Link to each fund's  Form N-MFP  on the Securities and Exchange Commission website.

      Fees & Expenses

      Monthly Expense Ratios (Annualized)

      As of  08/31/24 FEE DESCRIPTION EXPENSE RATIO (%)
      Management Fee 0.15%
      Service Fee 0.25%
      Other Expenses 0.24%
      Total Expenses 0.64%
      Net Expenses 0.64%

      Monthly Expense Ratios reflect any voluntary expense limitations that may be terminated at any time without notice by BNY Mellon Investment Adviser, Inc. as well as any contractual expense limitations reflected in the prospectus fee table. Voluntary expense limitations are not contractual and may fluctuate daily. Total Expenses is the total annual operating expense ratio for the fund before any applicable fee waivers or expense reimbursements. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any applicable fee waivers or expense reimbursements.
      This data is annualized. Monthly operating expenses may vary month to month.

      Prospectus Fee Table Expense Ratios

      As of  12/29/23  Fee Description Expense Ratio (%)
      Management Fee 0.15%
      Service Fee 0.25%
      Administration Fee 0.14%
      Other Expenses 0.06%
      Total Expenses 0.60%
      Net Expenses 0.60%

      Total Expenses is the total annual operating expense ratio for the fund before any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table.

      BNY Mellon Investment Adviser, Inc. will contractually agree, until the Liquidation Date, to waive receipt of its fees and/or assume the expenses of the Fund so that the total annual fund operating expenses of the Fund (excluding shareholder services plan fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed 0.39% for Class M shares and 0.64% for Investor shares. The undertaking reflects the Fund's current total annual operating expenses (excluding shareholder services plan fees for Investor shares) as of June 28, 2024.

      Literature

      Literature

      Prospectus and Reports

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      Investors should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. To obtain a prospectus, or summary prospectus, if available, that contains this and other information about the fund, contact your financial professional or visit dreyfus.com. Read the prospectus carefully before investing.

      Retail Prime and Tax-Exempt/Municipal Money Market Funds:  You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares if determined in the best interests of the fund to do so because of market conditions, reduced liquidity or other factors.  An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

      The fund's short-term corporate and asset- backed securities holdings involve credit and liquidity risks and risk of principal loss.

      ESG evaluation risk applies to all government/treasury money market funds except Dreyfus Government Securities Cash Management, Dreyfus Treasury Securities Cash Management, and Dreyfus Institutional Preferred Treasury Securities Money Market Fund. Where appropriate and as applicable, Dreyfus incorporates environmental, social and governance (ESG) factors into its fundamental credit research process. Dreyfus may not consider ESG ratings or other ESG data or analysis in connection with every investment decision and may determine that other attributes of an investment outweigh ESG considerations when making an investment decision. ESG factors may not be determinative with respect to a given credit analysis or investment decision. Accordingly, a fund may invest in securities of a company/issuer with a negative ESG profile, and a fund may divest or not invest in a company/issuer with a positive ESG profile. In light of the fact that ESG data often lacks standardization, consistency and transparency, such data including ESG ratings for certain issuers/companies may not be available, complete or accurate.

      As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability.

      1-Day Yield: the distribution factor for the prior business day multiplied by the number of days in the year.

      1-Day Yield Unsubsidized: reflects what the 1-Day Yield would have been absent of contractual and or voluntary expense waivers.

      1-Day Yield Subsidized: reflects expense fee waivers during the period. Without waivers, the yield would be reduced.

      7-Day Yield Unsubsidized: the Fund's previous 7 days of income dividend per share, annualized by dividing by the 7 days and multiplying by the number of days in the year, and shown as a percentage of the fund's current net asset value per share. This yield does not reflect contractual and or voluntary fee waivers.

      7-Day Yield Subsidized: the Fund's previous 7 days of income dividend per share, annualized by dividing by the 7 days and multiplying by the number of days in the year, and shown as a percentage of the fund's current net asset value per share. This yield reflects contractual and or voluntary fee waivers.

      30-Day Unsubsidized Yield: a net yield inclusive exclusive of any fee waivers or reimbursements, is based upon dividends per share from net investment income during the past 30 days, divided by the period ended maximum offering price per share and annualized.

      30-Day Subsidized Yield: a net yield inclusive of any fee waivers or reimbursements, is based upon dividends per share from net investment income during the past 30 days, divided by the period ended maximum offering price per share and annualized.

      WAM: A measure of the average effective maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. WAM calculations allow for the maturities of certain securities with periodic interest rate resets to be shortened. Generally, for money market funds, WAM can be used primarily as a measure of relative sensitivity to interest rate changes.

      WAL: A measure of the average final maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. Unlike WAM, WAL calculations do not allow maturities to be shortened for periodic interest rate resets. Accordingly, WAL will generally be higher than WAM.

      Market Value NAV: Calculated based on available market quotations (except overnight securities which are valued at amortized cost) related to the Fund's securities at the close of business on the date stated. It is calculated to the nearest hundredth of a cent or (or $0.0001).

      Daily Dividend Factor is a decimal representation of the amount of yield earned in one day.

      Accumulated Dividend Factor is the decimal representation of the daily factors added up in anticipated of a monthly dividend payout.

      Dreyfus provides institutional investors and intermediaries with a variety of domestic and offshore money funds and short duration separate account strategies. Dreyfus is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation. Securities are offered by BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer and affiliate of MIC. Certain offshore products are not available to US investors and are distributed by BNY Mellon entities licensed in the relevant jurisdictions. 

      The information provided on this site is for informational purposes only and should not be construed as investment advice or a recommendation of any particular investment product, strategy, investment manager or account arrangement, and should not serve as a primary basis for investment decisions. Prospective investors should consult a legal, tax or financial professional in order to determine whether any investment product, strategy or service is appropriate for their particular circumstances. This information may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorized.

      MIC-516126-2024-03-20