BNY Mellon National Short-Term Municipal Bond Fund
- TICKER MPSTX
- Fund Code 0965
- CUSIP 05569M731
- SHARE CLASS
-
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Why invest in this Fund?
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal income tax. The fund occasionally, including for temporary defensive purposes, may invest 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 and its average effective portfolio duration will be less than three 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.
Morningstar Rating™ as of August 31, 2024 for the Class M class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Short category. Fund ratings are out of 5 Stars: Overall 3 Stars (207 funds rated); 3 Yrs. 3 Stars (207 funds rated); 5 Yrs. 3 Stars (198 funds rated); 10 Yrs. 3 Stars (146 funds rated).
Yields and Expense Ratio
SUBSIDIZED as of 09/17/24 |
UNSUBSIDIZED as of 09/17/24 |
ANNUALIZED DISTRIBUTION RATE as of 08/31/24 |
TAXABLE EQUIVALENT DISTRIBUTION * as of 08/31/24 |
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 | |||
2.53 | 4.27 | 2.42 | 4.09 | 2.43 | 4.10 | 0.44 | 0.53 | 12/29/24 |
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 2015
Total Returns
Month End
Average Annual As of 08/31/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 08/31/24 |
YTD 08/31/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon National Short-Term Municipal Bond Fund
MPSTX |
2.29 | 2.42 | 4.55 | 0.97 | 1.11 | 1.09 | 2.00 |
S&P Municipal Bond Investment Grade Short Index
|
2.28 | 2.15 | 4.36 | 1.05 | 1.26 | 1.31 | - |
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 National Short-Term Municipal Bond Fund
MPSTX |
0.68 | 0.87 | 3.20 | 0.49 | 0.95 | 0.96 | 1.94 |
S&P Municipal Bond Investment Grade Short Index
|
0.56 | 0.57 | 2.90 | 0.58 | 1.09 | 1.17 | - |
The S&P Municipal Bond Investment Grade Short 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 six months and a maximum maturity of up to, but not including, four years as measured from the rebalancing date. Investors cannot invest directly in any index.
Growth of $10,000 Investment
Historical Performance
Monthly
Yearly
Prospectus Fee Table Expense Ratios
As of 12/29/23 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 0.35% |
Administration Fee | 0.14% |
Other Expenses | 0.04% |
Total Expenses | 0.53% |
Expenses Reimbursed | 0.09% |
Net Expenses | 0.44% |
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 09/17/24 Name | NAV | Change |
09/17/24 12 Month High Nav |
10/02/23 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|
MPSTX
|
$12.73 |
$0.00
0.00%
|
$12.73 | $12.32 | 2.78% |
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Municipal National Short
Morningstar Rating™ as of 08/31/24 for the Class M shares; other classes may have different performance
characteristics. Overall rating for the Municipal National Short. Fund ratings are out of 5 Stars: Overall
3 Stars (207 funds rated); 3 Yrs.
3 Stars (207 funds rated); 5 Yrs.
3 Stars (198 funds rated); 10 Yrs.
3 Stars (146 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
61 out of 133 -
3 Year
65 out of 123 -
5 Year
69 out of 114 -
10 Year
40 out of 79
LIPPER CLASSIFICATION Short Municipal Debt Funds
Main Risks
Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.
Please refer to the prospectus for a more complete discussion of the fund's main risks.
Risk Metrics
As of 08/31/24 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
MPSTX
|
2.38 | -1.58 | 0.28 | 90.54 | -1.22 |
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
Month/Year | Dividend ($) |
---|---|
08/2024 | 0.027926525 |
07/2024 | 0.026194436 |
06/2024 | 0.023174592 |
05/2024 | 0.027237132 |
04/2024 | 0.024553633 |
03/2024 | 0.024508401 |
02/2024 | 0.021615704 |
01/2024 | 0.018120640 |
12/2023 | 0.017509966 |
11/2023 | 0.019868725 |
10/2023 | 0.020671382 |
09/2023 | 0.018304528 |
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 |
---|---|---|---|---|---|---|---|---|
12/28/16 | 12/29/16 | 12/29/16 | 0.0000 | 0.0000 | 0.0056 | 0.0000 | 0.0108 | 0.0164 |
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 |
---|---|---|---|---|---|---|---|---|
12/22/15 | 12/23/15 | 12/23/15 | 0.0000 | 0.0000 | 0.0037 | 0.0000 | 0.0034 | 0.0071 |
12/17/14 | 12/18/14 | 12/18/14 | 0.0000 | 0.0000 | 0.0003 | 0.0000 | 0.0148 | 0.0151 |
12/18/13 | 12/19/13 | 12/19/13 | 0.0000 | 0.0000 | 0.0003 | 0.0000 | 0.0067 | 0.0070 |
12/14/06 | 12/15/06 | 12/15/06 | 0.0000 | 0.0000 | 0.0027 | 0.0000 | 0.0000 | 0.0027 |
12/08/04 | 12/09/04 | 12/09/04 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0020 | 0.0020 |
12/05/02 | 12/06/02 | 12/06/02 | 0.0000 | 0.0000 | 0.0078 | 0.0000 | 0.0000 | 0.0144 |
12/06/01 | 12/07/01 | 12/07/01 | 0.0000 | 0.0000 | 0.0587 | 0.0000 | 0.0000 | 0.0897 |
Literature
Factsheet, Prospectus and Reports
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