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    BNY Mellon National Short-Term Municipal Bond Fund

    Why invest in this Fund?

    The fund seeks to maximize current income exempt from federal income tax to the extent 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 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.
    Class Inception Date
    07/11/01
    Fund Assets
    $385,507,137  As of  06/18/24
    Class Assets
    $14,557,989  As of  06/18/24
    Portfolio Turnover Rate
    101.11% As of fiscal year end  08/31/23
    Morningstar Category
    Municipal National Short
    Benchmark
    S&P Municipal Bond Investment Grade Short Index
    Fund Holdings
    173 As of 05/31/24
    AVERAGE EFFECTIVE MATURITY
    2.88 yr(s).  As of  05/31/24

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 06/18/24
    ANNUALIZED
    DISTRIBUTION RATE
    as of 05/31/24
    PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 12/29/23
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    2.67 2.56 2.16 0.69 0.78 12/29/24

    Portfolio Managers

    • John F. Flahive

      John F. Flahive, CFA

      Portfolio Manager, The Bank of New York Mellon

      Managing Fund Since 2015


    Total Returns

    Average Annual
    As of 05/31/24
    Name 3 MO
    05/31/24
    YTD
    05/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon National Short-Term Municipal Bond Fund
    MINSX
    -0.09 0.02 2.57 0.02 0.62 0.62 1.49
    S&P Municipal Bond Investment Grade Short Index
    -0.19 -0.12 2.69 0.35 1.02 1.11 -
    Average Annual
    As of 03/31/24
    Name 3 MO
    03/31/24
    YTD
    03/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon National Short-Term Municipal Bond Fund
    MINSX
    0.13 0.13 2.34 0.13 0.75 0.66 1.51
    S&P Municipal Bond Investment Grade Short Index
    0.01 0.01 2.12 0.47 1.16 1.16 -

    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 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

      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.

      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 0.35%
      Service Fee 0.25%
      Administration Fee 0.14%
      Other Expenses 0.04%
      Total Expenses 0.78%
      Expenses Reimbursed 0.09%
      Net Expenses 0.69%
      The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until December 29, 2024, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of neither class of fund shares (excluding shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .44%. On or after December 29, 2024, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNYM Investment Adviser. John F. Flahive is the fund's primary portfolio manager, a position he has held since September 2015. Mr. Flahive is a 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 06/18/24 Name NAV Change 02/01/24  12 Month 
          High Nav
          10/03/23  12 Month 
          Low Nav
          YTD Return
          MINSX
          $12.56
          $0.01
          0.08%
          $12.59 $12.31 0.76%

          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.
          Please refer to the prospectus for a more complete discussion of the fund's main risks.

          Risk Metrics

          As of  05/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          MINSX
          2.24 -2.00 0.28 91.33 -1.50

          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 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 ($)
          05/2024 0.024420974
          04/2024 0.021943767
          03/2024 0.021858688
          02/2024 0.019112863
          01/2024 0.015538991
          12/2023 0.014790156
          11/2023 0.017290764
          10/2023 0.017922555
          09/2023 0.015904169
          08/2023 0.016988512
          07/2023 0.015346136
          06/2023 0.015080285

          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
          12/28/16 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

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